Cheeky offer?

Lu_Lu

We have seen a house today that we really like. It's part of a very small new build development and is the end of a terrace of three 4 bedroomed houses. It's really well finished and very nice. Can see us living there etc etc. not quite the perfect location for us but it ticks so many other boxes.

Anyway, it's on the market at £375K but our absolute max would be £350k. Is this a cheeky offer and should we go in with that as first and final offer stating its our max? Would love to make this our family home but it might not be meant to be...

We don't have any other selling points to back up our offer and ours is just on the market, although we expect ours will sell quickly. We know this house has a couple of offers but they are from people who haven't sold so have not been accepted yet.

househuntingmad

There's only one way to find out...

I really don't understand this whole nonsense of 'cheeky' or 'insulting' offers. Sellers want the most they can, buyers want to pay as little as possible. That's the whole point of offers - to come up with something agreeable to the seller, who ultimately has the upper hand.

To me there is no such thing as a cheeky offer, just an offer. The seller doesn't have to accept it.

bobbymotors

One offer is better than 10 viewings.... go for it

cte1111

I wouldn't offer until you've accepted an offer on your own house. At that point, then I think £350k for a £375k house is reasonable. We don't know whether the price is over / under / fairly priced but it's a reasonable offer IMHO, although only when you are in a proceedable position.

Lu_Lu

cte1111 wrote: »

I wouldn't offer until you've accepted an offer on your own house. At that point, then I think £350k for a £375k house is reasonable. We don't know whether the price is over / under / fairly priced but it's a reasonable offer IMHO, although only when you are in a proceedable position.

I agree and we will gave much more to back us up too. We are thinking of doing a quick open house to get some good interest whipped up! Hoping this is still on the market when we're good to go!

Hoploz

Definitely.
If you're planning an offer that amount below you need to be proceedable for it to be considered.
Tell the agent you're very interested, explain you're going o do an open day and hope to be u/o very soon, and that you want to be informed if there are other offers in the meantime.

That way they know you're interested and they will come to you for an offer if they get another and keep you in mind.

jacko74

I find it quite funny how buyers get so stressed and embarrassed at the thought of making a 'cheeky' offer... whilst house sellers have no shame at all about having 'cheeky' asking prices that are often 20% or more above what other comparable properties have recently sold for.

Chanes

New builds carry a premium on prices because they are new and technically should not require any work to improve them or repair them. And they have a guarantee to protect them against major works.

Make the offer when you are in a position to make it and see what happens, nothing wrong with trying for a much lower price.

Good luck.

Lu_Lu

Thanks all. Spoke to agent today to give feedback and have told them we are interested and would like to be kept in the loop with other offers etc. he told me that there is one on the table already but they have to sell also.

Just have to wait and see what happens with our now ...

JencParker

househuntingmad wrote: »

There's only one way to find out...

I really don't understand this whole nonsense of 'cheeky' or 'insulting' offers. Sellers want the most they can, buyers want to pay as little as possible. That's the whole point of offers - to come up with something agreeable to the seller, who ultimately has the upper hand.

To me there is no such thing as a cheeky offer, just an offer. The seller doesn't have to accept it.

The problem with offering a 'cheeky or insulting' offer is that the buyer will not take you seriously. If it is in a hard to sell area and there is no other interest then you may be lucky but generally, even if the offer was increased in line with an acceptable offer, as a seller I would always wonder if they were going to pull a fast one after the survey has been done or just before exchange etc.


I would rather go for an potential buyer that hasn't taken the mickey first. House buying and selling is stressful enough without undertaking the transaction with a chancer!

Immers7

JencParker wrote: »

The problem with offering a 'cheeky or insulting' offer is that the buyer will not take you seriously. If it is in a hard to sell area and there is no other interest then you may be lucky but generally, even if the offer was increased in line with an acceptable offer, as a seller I would always wonder if they were going to pull a fast one after the survey has been done or just before exchange etc.


I would rather go for an potential buyer that hasn't taken the mickey first. House buying and selling is stressful enough without undertaking the transaction with a chancer!

Even if it was highest offer made on the property?

I doubt you find many people like you. Its business transaction at the end of the day. You're taking it personally.

It works both ways with the sellers advertising their properties 20% above market rates