How low can we go? Making a low offer.

Rollinghills

If I wanted to pay 185k I'd offer 180k and then raise it to 185k and then wait. This strategy worked for us twice but in a slow market and us being in a good position to buy. Be prepared that it won't work.

I agree with others, decor should not influence price unless it concerns bathrooms / kitchen.

To knock down walls you will need a survey to make sure it is safe, maybe planning permission and also freeholder's consent if leasehold.

FBaby

I'd go for it, what have you got to lose? In the end, you don't know the circumstances of the sellers. They might be much more desperate to sale and get out of the place than to get as much equity out of it.

On the other hand, they might need a certain amount for it to get another mortgage, or worse for you, the house might be in negative equity and they are unlikely to want to get into more debts.

Maybe you could look up when they bought it and at what price. Again, all they can say is no!

misspickle_2

If you've got nothing to lose as you say and your happy to walk away then put the £185 offer in! Depends how bad you want it and what you would genuinely be prepared to pay.
If you are willing to pay£197 then be prepared that you might be cutting off your nose to spite your face if you insult them as the trust won't be there.
If your trying to second guess their situation and your hoping their desperate for a quick sale then that's a risk you take. If they needed a quick sale I would imagine that had already been reflected in the price and would now be marketed as so.

Dan-Dan

Rollinghills wrote: »

If I wanted to pay 185k I'd offer 180k and then raise it to 185k and then wait. This strategy worked for us twice but in a slow market and us being in a good position to buy. Be prepared that it won't work.

I agree with others, decor should not influence price unless it concerns bathrooms / kitchen.

To knock down walls you will need a survey to make sure it is safe, maybe planning permission and also freeholder's consent if leasehold.

What are you talking about?

Rollinghills

OK, I take back planning permission. But you will still need building regulations approval and don't know about others but I could not tell a load bearing wall from a non-load bearing one so wouldn't start knocking things down without expert's advice. Fire safety is another aspect to consider. And freeholder's permission may or may not be necessary.

goodwithsaving

Surely if you go in too low you will risk offending them and they won't wish to have any more to do with you. From their point of view, if somebody goes in far too low and eventually creeps up the price, they would be suspicious of a potential gazunderer.

SG27

I think anyone who gets upset or offended by getting a low offer is bit silly. Like you say you have nothing to lose go in at £180 then up to £185 if rejected move on.

ethank

I think it very easy to get upset by low offers. Especially if you have your time wasted at the viewings and all the phone calls. Selling can be an emotional rollercoaster!

Snakey

SG27 wrote: »

I think anyone who gets upset or offended by getting a low offer is bit silly.

Don't get hung up on the emotive words . Of course when you put it like that it sounds daft: "oh, I don't want to play with him because he's a big meanie". But there's something very real underpinning it - I wouldn't want to deal with someone who made a very low offer because no matter what price we agreed I wouldn't fully trust them not to pull a fast one at the last minute to try to get the price back down again.

So in advising the person making the offer, it's not a case of "don't do that, you might make them cry and that wouldn't be very nice would it?", it's more like "if you do that, you're taking a risk that they won't deal with you at any price" - which is basically what everyone is saying.

nearlyrich

It's a transaction not an emotional experience if they can afford to drop to a low offer to get it gone they will if not they won't. I would say go for it but don't get too attached until the offer is accepted.