Making offers under asking price

traceyed1

We are going to view a property tomorrow that is over our maximum budget but we have been told that the vendors are flexible in price. The asking price is 155k would an offer of 135k be too cheeky? The house is currently vacant with no chain.

Thanks

Paully232000

Have a look around at what other similar houses have sold for in the local area, and base your price on this.
Also what do you think it is worth to you?

We started with an offer of 15% under asking price of a house that was chain free and vacant. ended up getting it for 5% under asking price and this is after it had been reduced over the months before we offered. My thoughts were that the worst they can say is no and then we offer up to max we were prepared to pay.

Road_Hog

traceyed1 wrote: »

would an offer of 135k be too cheeky? The house is currently vacant with no chain.

Thanks

Yes......................

LEJC

an asking price is just that...but a house will sell when someone puts in an offer that the vendor is prepared to accept...
that might be your offer or they may wish to hold out for more.
I was due to view a property tomorrow but the viewing has just been cancelled because the vendor has accepted an offer above the asking price...to which I am not prepared to get into a bidding war...its time to walk away and wish the vendor and potential purchaser the best of luck!
Is it a case that you are looking at a property that you cant really afford and your offer is based on your maximum or is there genuine room for an offer.
It may be that the property is slightly overpriced and yes the vendors need a quick sale but you may also be dealing with an estate agent who wants to get people viewing the property ie foot fall though the door irrespective of if they can afford it or not!!!

I'm afraid there is no real answer to your question other than go and look at it and put the offer in that reflects you at your best....and thats up to the vendor to accept or not..

Jenniefour

traceyed1 wrote: »

We are going to view a property tomorrow that is over our maximum budget but we have been told that the vendors are flexible in price. The asking price is 155k would an offer of 135k be too cheeky? The house is currently vacant with no chain.

Thanks

Perfectly OK to say you really love it but can only afford x amount. And if your maximum is 135k then you can say that. I did it when I bought the house I have now - made one offer well below asking price and said that it would be my one and only offer. Vendors were desperate to move, had their next property lined up, house had been on the market a long time and they'd already reduced it. So it might work. If not, you know where you are and can keep looking.

paulsad

What's the worse that can happen? They can tell you no and you can then up it.

jimbog

traceyed1 wrote: »

We are going to view a property tomorrow that is over our maximum budget but we have been told that the vendors are flexible in price. The asking price is 155k would an offer of 135k be too cheeky? The house is currently vacant with no chain.

No.................