Cheeky offer?

JencParker

Immers7 wrote: »

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

That's why I said depends on where you are. There will be plenty like me where I am - London and SE. But property sells easily here. Why go with a chancer when you can find a genuine buyer.


Nothing to do with taking it personally, simply that it isn't always the highest offer that is the best offer. If the highest offer is the chancer then what stunt will the pull when the survey comes in etc. No, price is not always the only factor deciding which buyer to go for. A buyer that you can count on could easily be worth the few thousand extra that you would get with a chancer who will try every trick to get the price down until the contract is signed.

ReadingTim

Immers7 wrote: »

Its business transaction at the end of the day. You're taking it personally

Yes, it's a business transaction, and in some cases (BTL investor purchasing from developer off plan) that's a perfectly reasonable comment.

But for an owner occupier purchase, it's a business transaction between two people. And people do business with other people who they like, or at least get on with; rather than someone spouting off lines like some wannabe on The Apprentice. Furthermore, that property you're hoping to purchase is currently someone's home, which by its very nature is a pretty personal thing to many people.

If it was purely business, and rational, we wouldn't have bubbles and boom and bust, but we do. Because you're dealing with people, emotional people.

cascaid

It's always worth a try, they can only say no and then you go from there. We got £18k off asking price for a house that had only been on the market 5 days! Even the EA was surprised we got it for that - what's the worst that could happen!

krey

Its not cheeky offer at all!

I will share probably something I shouldn't.
If you want to get Huuge discounts on Anything that includes houses:
-find the ones which have been on market for some time already and have got already good price, you will be lucky actually if someone has viewed it before and has wasted the sellers time already,the more the better!
-Its best if the property isnt in the tip-top shape and you can find faults with it, obviously state the faults to the seller and say that it will need lots of work and that you are not sure if you want it,but will do your research and get prices and call him back tomorrow.
-When tomorrow comes, make sure its late evening , at least 7PM, at that time people get more tired and their minds dont function as good as freshly out of bed and its easier to get things agreed on, than call and say that you have thought about it, but the problems really bother you and still not sure, but maybe would be interested IF the price is right and ask whats the lowest they would take,to that question rarely anyone answers and asks to give them your offer, now depending on the actual condition you can make super-low-ball offer and you have a really good chance it will be accepted if seller is ready to sell and can see you as a real buyer.
This works on pretty much anything , houses/land/cars ... Its normal to get at least 15-20% off this way off a house, I have got as much as 60% off a piece of land just because I have asked.

Obviously this works much much better If you can talk to the seller directly not some agents.

Also as above people have attachments /emotions to houses, don't be a crappy buyer and insult them or you will get nowhere,yup I have seen that as well that someone would much rather sell it for a bit less if they know the house will get taken care of instead to someone who don't cares about the house, but you have to try to deal with the person directly not the bloodsucking useless agents who takes $ just for listing your house on zoopla/rightmove and doing no real work for which they should get paid.

societys_child

I will share probably something I shouldn't.

Are you for real?

you can find faults with it, obviously state the faults to the seller and say that it will need lots of work and that you are not sure if you want it,but will do your research and get prices and call him back tomorrow

And I'd tell you that the price already took into account these "faults"
You'd only call me back if I was daft enough to give you my number.

-When tomorrow comes, make sure its late evening , at least 7PM, at that time people get more tired and their minds dont function as good

Your unknown number would go to answerphone.

you can make super-low-ball offer

In the unlikely event we did have this conversation, I'd thank you and wish you goodbye . . . click, burrrrrrrrr

But thanks anyway for these pearls of wisdom:cool:

Mallotum_X

krey wrote: »

Its not cheeky offer at all!

I will share probably something I shouldn't.
If you want to get Huuge discounts on Anything that includes houses:
-find the ones which have been on market for some time already and have got already good price, you will be lucky actually if someone has viewed it before and has wasted the sellers time already,the more the better!
-Its best if the property isnt in the tip-top shape and you can find faults with it, obviously state the faults to the seller and say that it will need lots of work and that you are not sure if you want it,but will do your research and get prices and call him back tomorrow.
-When tomorrow comes, make sure its late evening , at least 7PM, at that time people get more tired and their minds dont function as good as freshly out of bed and its easier to get things agreed on, than call and say that you have thought about it, but the problems really bother you and still not sure, but maybe would be interested IF the price is right and ask whats the lowest they would take,to that question rarely anyone answers and asks to give them your offer, now depending on the actual condition you can make super-low-ball offer and you have a really good chance it will be accepted if seller is ready to sell and can see you as a real buyer.
This works on pretty much anything , houses/land/cars ... Its normal to get at least 15-20% off this way off a house, I have got as much as 60% off a piece of land just because I have asked.

Obviously this works much much better If you can talk to the seller directly not some agents.

Also as above people have attachments /emotions to houses, don't be a crappy buyer and insult them or you will get nowhere,yup I have seen that as well that someone would much rather sell it for a bit less if they know the house will get taken care of instead to someone who don't cares about the house, but you have to try to deal with the person directly not the bloodsucking useless agents who takes $ just for listing your house on zoopla/rightmove and doing no real work for which they should get paid.

Let me guess, you are still living at home with mummy.

Immers7

ReadingTim wrote: »

Yes, it's a business transaction, and in some cases (BTL investor purchasing from developer off plan) that's a perfectly reasonable comment.

But for an owner occupier purchase, it's a business transaction between two people. And people do business with other people who they like, or at least get on with; rather than someone spouting off lines like some wannabe on The Apprentice. Furthermore, that property you're hoping to purchase is currently someone's home, which by its very nature is a pretty personal thing to many people.

If it was purely business, and rational, we wouldn't have bubbles and boom and bust, but we do. Because you're dealing with people, emotional people.

I guess it is personal for some people. As Jen C has mentioned more importantly it depends on the market. You can be a "chancer" and spout as many lines like an apprentice wannabe if the market is slow. At that point most sellers will have to get off their high horse.

JencParker

Immers7 wrote: »

I guess it is personal for some people. As Jen C has mentioned more importantly it depends on the market. You can be a "chancer" and spout as many lines like an apprentice wannabe if the market is slow. At that point most sellers will have to get off their high horse.

If the market is slow and the house is not selling (or the owner wants a quick sale) then one could assume that it is overpriced anyway.


The point I was making is that making a cheeky offer could easily backfire on you if the seller is likely to get a decent offer. Even if the 'cheeky offer' buyer ups their offer to match, the seller will not want to do business with a chancer. So, if it's a house that the buyer wants, I would disagree that there is no harm in making a cheeky offer which is what has been suggested.

danielanthony

Start your bidding at £1 and just make incremental £1 bids until you find the reserve price. I've done this and got 1000% off some properties. I also lie a lot.

Seriously, it depends how long the house has been on the market for and if the vendors have already rejected offers over your 'cheeky' offer, just ask the agent. If I were selling my house for X I'd tell the EA not to bother me with 'cheeky' offers unless over Y which would probably be 5% off the asking price as I would have done my market research and not be so foolish as to be ripped off by some opportunist.

Lu_Lu

Well we are now in a proceed-able position so offered the 350 but this was rejected and now they are saying there is a higher offer on the table, although I am told that the other party still have a house to sell. We are selling to first time buyers so can move quickly.

Anyway, have increased to 356 as our final offer and then will be walking away.

Currently mourning for this lovely house :-(. Hopefully something better is round the corner and we will get over it quickly!