House listed for offers in excess of 190K

dexterwolf

House that we like is Listed for offers in excess of 190K so what to offer.


I was thinking of offering 185K as 190K is the top of my budget.

Hutch100uk

Its always hard to know what to start with - especially when its says offers over. I would ignore that and definitely go in under the starting price. This then shows you are willing to negotiate by going back with a higher offer if they decline.

If you're not in a chain, you can always use that as leverage.

theartfullodger

You can offer what you like: They can accept or not.

About 15 years ago I looked at a house that had been on the market for over a year at offers over £40k. I offered through my solicitor £28k. I received a 'phone call from the agent who had been instructed to pass on an extremely direct, rude, message that the vendor had never been so insulted, the offer was completely unacceptable etc etc etc..

I thanked the agent kindly for his help.

A week later I re-submitted the same offer of £28k, cash purchase. Sorted: Still own it. With Brexit price plunge, doom & gloom, world-wide apocalypse etc in the air it's worth a try if you are a gambler...

Dan-Dan

dexterwolf wrote: »

House that we like is Listed for offers in excess of 190K so what to offer.


I was thinking of offering 185K as 190K is the top of my budget.

How long has it been for sale?

dexterwolf

It has been on the market for 3/4 months at 200K then dropped two weeks ago to offers over 190K


We are not in a chain as our friends are buying our house so it is sold

Cakeguts

You will need to do a bit more research. Find out what the market is doing in your area and also how long the house has been on the market.

Alter_ego

Are you in Scotland? I believe it's different there.

dexterwolf

No In England

agrinnall

I bought my house for less that the OIEO price, which as with yours had been dropped by £10K after the house had been on the market for a couple of months.

orionmoo

dexterwolf wrote: »

We are not in a chain...

Advantage.

dexterwolf wrote: »

...our friends are buying our house so it is sold

So you are in a chain.

If your friends pull out of buying your house, you'd have to find a buyer.

The vendor we bought off tried this with us, saying he wasn't in a chain. Turns out what he meant was the people he was buying from were moving to new build, they were gonna move out to complete whenever my vendor was ready so as you there isn't a chain of sorts as its all in place. But then the new build was completed earlier than expected and those at the top wanted to move ASAP. All of a sudden a chain was in a place that restricted us with our move dates.

westernpromise

So it was on for four months at £200k meaning they'd take £190k - £200k, but there was no offer near that level.

So they "reduce" to OIEO £190k, meaning they'd take £190k - £200k.

That's not a price reduction. It's the same thing put a slightly different way.

Try £175k.