How much (little) to offer?

Crashy_Time

LEJC wrote: »

Sorry I used it as a fictitious figure plucked from thin air

a buyer offers what a property is worth to them...a seller accepts what they feel it is worth to them....but you clearly know that.

If all a seller has on the table are offers 20% below their asking price they have a simple choice, do they want to sell or not.

The_Logans

LEJC wrote: »

How far off the asking price are you?

Having renovated a few properties I know the work involved and it would be unfair to compare 2 properties that are in the same area but one renovated and one not.

If you have the funds to renovate property 2 then go for that...it can be a rewarding task...but don't look at property 1 and hope/wish you could get it for the price of the other one....thats not always going to be achievable.

We can't go over £450k. We can afford property 2 easily but we don't want a 'fixer-upper' (see previous post about small child, lol). I wouldn't expect to get property 1 for the price of property 2, but somewhere inbetween would be good

LEJC

The_Logans wrote: »

We can't go over £450k. We can afford property 2 easily but we don't want a 'fixer-upper' (see previous post about small child, lol). I wouldn't expect to get property 1 for the price of property 2, but somewhere inbetween would be good

OK ...so your max is 450 offer that....see what happens.

there it's quite possible that you have now indeed answered your original question.

If you are rejected then clearly that property was not for you unless of course you raise extra funding

The_Logans

LEJC wrote: »

OK ...so your max is 450 offer that....see what happens.

there it's quite possible that you have now indeed answered your original question.

If you are rejected then clearly that property was not for you unless of course you raise extra funding

Ha! Yes I suppose I have... time will tell

spadoosh

LEJC wrote: »

OK ...so your max is 450 offer that....see what happens.

there it's quite possible that you have now indeed answered your original question.

If you are rejected then clearly that property was not for you unless of course you raise extra funding

Only took 23/24 posts to answer a question in which the OP already knew the answer. Good work house buying forum!

The_Logans

spadoosh wrote: »

Only took 23/24 posts to answer a question in which the OP already knew the answer. Good work house buying forum!

Why are you so sarcastic and hostile?? If you can't be bothered to get involved in the discussion then don't.

Crashy_Time

The_Logans wrote: »

Why are you so sarcastic and hostile?? If you can't be bothered to get involved in the discussion then don't.

Many people get uncomfortable when the discussion turns to sellers getting less for their properties, they prefer those threads to drift down the board. That`s my impression anyway.

The_Logans

Crashy_Time wrote: »

Many people get uncomfortable when the discussion turns to sellers getting less for their properties, they prefer those threads to drift down the board. That`s my impression anyway.

Maybe he owns the house I'm talking about....

Pricivius

I think I have to disagree with a previous poster who said that the buyer offers what they think the property is worth. Is no one trying to get a bargain any more?!!

Negotiation is a huge part of house buying, with various people spouting various rules - never accept a first offer, never believe it is really the final offer, go 10% below but no lower etc...

If the OP offers £450k and the seller never accepts a first offer, the deal is over before it has begun.

If you cannot go above £450k, I would go in slightly lower and work up to your ceiling bid. But that's just me!

LEJC

The_Logans wrote: »

Ha! Yes I suppose I have... time will tell

are you now brave enough to post a link to the property and maybe someone will give you a knowledgeable answer as to whether £450k would be reasonable.....but I suspect you know whether you are comfortable in offering that or whether you are under offering