Cheeky offer?

PixelPound

So 350 was your absolute maximum... until you offered 356. So what if they said would accept 360?

somethingcorporate

They would never accept your first offer so you shouldn't have gone in at £350k if you expected them to accept it. Even if you tell them it's your final offer.

When we bought a new build 2 years ago (almost to the day) it was on at £335k, we offered £295k rejected and our second offer was £310k and they pay stamp duty which was accepted so below 10% off asking and your initial offer is only 7% below.

euromike

IMO offers within 10% of asking price cannot be considered "cheeky". I remember reading somewhere that (in normal circumstances) properties sell for 5-7% less than asking price.

socmwils23

Something is only worth what someone is prepared to pay for it. You have the right to offer anything you want and they have the right to say no.

We are currently trying to find somewhere and made an offer today of 310k on a house listed at 325k. They declined and we continue to search. All perfectly reasonable. Well except the Estate agent who was shocked we weren't prepared to raise our offer straight away.

Lu_Lu

nic_c wrote: »

So 350 was your absolute maximum... until you offered 356. So what if they said would accept 360?

Things have changed since I first started this thread and we've sold our house for £10k more thank we thought so have some flexibility in our budget. However, we have decided that we will now walk away and be looking for something else.

somethingcorporate wrote: »

They would never accept your first offer so you shouldn't have gone in at £350k if you expected them to accept it. Even if you tell them it's your final offer.

When we bought a new build 2 years ago (almost to the day) it was on at £335k, we offered £295k rejected and our second offer was £310k and they pay stamp duty which was accepted so below 10% off asking and your initial offer is only 7% below.

Yes but I knew there was another offer on the table and got a very strong impression that they are being a bit funny about offers in general so didn't want to come across as a total time waster.

euromike wrote: »

IMO offers within 10% of asking price cannot be considered "cheeky". I remember reading somewhere that (in normal circumstances) properties sell for 5-7% less than asking price.

This is what I thought and we are only really looking at reducing it by less than 6% but I guess sometimes money is more important than who you're selling to and how quickly they can move!

chopper78

Lu_Lu wrote: »

However, we have decided that we will now walk away and be looking for something else.

We first put our house on the market after seeing a house we immediately fell in love with, right at the absolute upper end of our affordability range.

A month and five viewings later, we got an offer on our house at £5k under asking price which would mean we wouldn't be able to put together the deposit for our dream house. Our offerers wouldn't budge on their offer.

We ummed. We arred. We took a reality check, decided to accept the offer and then spent that weekend looking at other houses, and found something for £65k less than the original house we were looking at. It needs a bit of work doing to it (cosmetic rather than structural) but we have a lot of scope now to create our dream home.

Talc1234

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.

I think most sellers are likely to be pretty clued up about the value of their property and the values of their neighbours properties. Land registry, zoopla, rightmove all allow you to search for historic sales. However if I was mad enough to sell my house at a 15-20% discount then I would at least sell by auction as I know that it would complete in 28 days

If (and this is a huge if) you 'wore me down at 7pm' then I am likely to have changed my mind next morning, after talking to my friends, the estate agent, work colleagues and checking on Zoopla

Likewise you can get a good idea of how much a car is worth by checking parkers, ebay and webuyanycar.com

Congrats on buy land at a 60% discount. You didn't mention what sort of land it was - building plot, garden, forest, small strip of greenbelt that some fraudster tried to flog off as a building plot. Land is harder to price than houses as there is much less to compare with and it really comes down to how much some mug - sorry punter is prepared to pay.

If I was selling my dog I would want it to go to someone who I know who would care of it. However for a house I don't care what the next owner does. Take the money and run.

And however 'blood sucking' you consider agents to be, they seem to be a bit more scrupulous than you, your apparent strategy is to use pressure tactics on people you have identified as being 'vulnerable'

That being said, there is no such thing as a cheeky offer, and don't worry about offending the seller. An offer is accepted or rejected, simple as that.

Lu_Lu

chopper78 wrote: »

We first put our house on the market after seeing a house we immediately fell in love with, right at the absolute upper end of our affordability range.

A month and five viewings later, we got an offer on our house at £5k under asking price which would mean we wouldn't be able to put together the deposit for our dream house. Our offerers wouldn't budge on their offer.

We ummed. We arred. We took a reality check, decided to accept the offer and then spent that weekend looking at other houses, and found something for £65k less than the original house we were looking at. It needs a bit of work doing to it (cosmetic rather than structural) but we have a lot of scope now to create our dream home.

I am feeling quite positive today that this will happen to us! The 356 hasn't been rejected quite yet but we have already started looking to buy something that we can turn into our dream home.