How much to offer without being rude

taptaps

Hi

Viewed a house. Looks decent. Modernisation and some layout configuration required and new bathrooms. Potentially some new guttering required to. 3 bed. 3rd bed very small more like study size. Similar properties have gone for £355000 with a worse kitchen and sitting room. A similar property in better condition but without an ensuite is up for £385000. This one is up for £410000. Do you think it would be rude and damage the relationship with the seller to offer £370000 which is 40k under the asking? And if thats rejected, do you ask them what they want or suggest something more?

Thanks,

Surrey_EA

How long has the property been on the market?

What is the situation of the vendors?

hazyjo

How long has it been on the market? How long ago have those comparables sold? What's the local market like?


If it's just come on, you've got very little chance. Seller sounds deluded. I'd wait for them to drop. If it's been on a while, they still sound deluded that they've not dropped.


-10% isn't unreasonable offer in a falling market so depends on what's happening near you.


Presuming the others are recent, I'd prob pitch its value at around £390k - although that is obviously vague and finger in the air! Kitchens and bathrooms tend to be people's taste rather than essential, and they often only make a house more sellable, not always adding lots of value.


Jx

ReadingTim

From what you've said, the only thing it needs is new guttering. Everything else is what you want. Which is fine, but don't expect the seller to pay for it. Not sure why you think they can help the size of the 3rd bedroom either....

Anyway, from what you've said, the price seems out of step with comparables, so the vendor will probably need a bit of time (and a lack of viewings or offers) to realise that for themselves (if they're actually looking to sell, rather than simply kite flying).

Ultimately, you can only offer up to what you're willing and able to pay, but framing your offer in the context of comparable sold prices or the reasonable cost of modernisation should add credibility, even if the seller doesn't like the message. I wouldn't worry too much about being "rude", but offer significantly below what you yourself believe it's worth and they may think you're not serious, are a timewaster, or just taking the p!ss out of them, meaning they won't accept any further offers from you, even when you are more serious.

I should imagine the estate agent would give you an idea of what the vendor is looking for and therefore how close you are to a potential deal - they only get paid when the sale completes!