Low offer

dominoman

tilly4597 wrote: »

I would be happy at £147,500 so hopefully we can agree somewhere near that figure, fingers crossed!

Up the ante by going back to the estate agent and say you have had other valuations at 155-160, so unless they want to pay full price you are now going to list it at 160 next week.

If the buyers like it they will desperately want to avoid it being listed to others and losing out. They'll be back with an offer at 150 tout de suite!

AlexLK

I don't think that's a low offer at all, OP.

shegar

As the saying goes, "if you dont ask you dont get", I would have offered you £138.000, then hopefully settle at about £141.000.....Never pay the asking price for anything and always haggle , well I do...........

Sarahspangles

Warning - geek alert :rotfl:

When I was house-hunting I looked at the sold prices on Zoopla, over the previous year, for houses with the same number of beds, in the village I was interested in. The "H" under the sold price on Zoopla links to the estate agent's particulars, including the original asking price.

Then I made a spreadsheet with the asking and sale price*, and worked out the average reduction achieved by the buyers. This was a 6% reduction on average. That was the starting point for my negotiation.

Of course the 6% may have come in two stages - an offer under asking price, followed by a reduction requested when the valuation came back with some issues.

Another way Zoopla was useful is that on the "for sale" tab you can make a search ordered by "biggest reduction". For the same village if I switched on "including sold properties" I could see that two local estate agents in particular consistently put properties on the market knowing they were likely to be reduced before they sold. So they over-egged the valuation to get the business, not caring that the vendors would take longer to sell, and have to clear up for more viewings! When I next sell I won't be using those agents!

*Actually I removed the two biggest reductions first, on the basis they were possibly forced sales, and the one property that went for over asking, thinking it was probably a bidding war. I would say you need to have at least twenty houses left on your spreadsheet to make this a good indicator.

somethingcorporate

Aside from my first place bought as a naive FTB I've not paid more than 90% of the asking price. My second place we got for around 85% of the asking price.

Sorry, but you're the deluded one here if you think people are going to walk in and offer asking price (unless you're in london I guess...).

tilly4597

somethingcorporate wrote: »

Aside from my first place bought as a naive FTB I've not paid more than 90% of the asking price. My second place we got for around 85% of the asking price.

Sorry, but you're the deluded one here if you think people are going to walk in and offer asking price (unless you're in london I guess...).

I never expected to get the asking price!!


Thanks for the replies folks. If they increase slightly then I am going to accept it.

Gonzo1987

Have you signed a contract with your agent to sell the property? ( I know you're not actively marketing it but I'm assuming you've signed their standard Ts and Cs and agreed a fee with them?)

dimbo61

You have a tenant who has paid the rent for how long?
Why not give them the chance to buy the place!
They will pay the rent until the day they can buy the place!
One happy tenant now home owner and one happy Landlord who get rent up to the day he sells the property.
She does not have to move and knows every part of the property and what she is getting.
You will Save what £2000 on estate agents costs and more in lost rent !!!!

Gonzo1987

dimbo61 wrote: »

You have a tenant who has paid the rent for how long?
Why not give them the chance to buy the place!
They will pay the rent until the day they can buy the place!
One happy tenant now home owner and one happy Landlord who get rent up to the day he sells the property.
She does not have to move and knows every part of the property and what she is getting.
You will Save what £2000 on estate agents costs and more in lost rent !!!!

They will still have to pay agency fees if the tenant buys the property, it will be written in the contract somewhere as the agent has introduced the buyer.

Alias_Omega

I would give a long term tenant a good discount