What opening offers are you making?

crisp

Compared to asking price and where?

JoJo1978

Our offers received (London): 99% of asking price. We accepted although had dropped the asking price twice before that because getting interest but no offers.

Offers made: (East Midlands). 95%, we stepped up from initial of 90% but it was rejected. House still on the market 6 months later now at asking less than our initial offer.

House we bought (East Midlands). 98% of asking. Accepted straight away but 2 previous sales fallen through and been on market 7 months give or take.

Bit of background: we were cash buyers no mortgage funding purchase from proceeds of sale. We also could have funded purchase from savings but didn't need to in end.

hazyjo

Sold in E4 for 99% of asking price (£5k off). Bought at 98% of asking price (£10k off).

* sold/bought end Nov '17

Amanda_Cm

First offer 98% of asking price but there was 7 offers on the same property so we went £1000 above the asking price because we really liked the property. First time buyers.

PokerPlayer111

Cash buyer, im making offers 10% off asking price on average.

agrinnall

PokerPlayer111 wrote: »

Cash buyer, im making offers 10% off asking price on average.

The use of the word 'offers' suggests that you are failing to get any properties and may be aiming too low (I'd certainly tell you to take a hike if I was selling).

ashe

Opened at 93.4% of asking, second offer 95.6%, closed on 96.9%.

north east, but feel it was a good price as 4 bed detached with double detached garage, massive drive that will fit 4 cars on easy and large plot of land so lots of room for extension, as well as nice large rooms. Absolutely nothing else in that price range came close to what it offered, so we would have gone to asking price if need be.

PokerPlayer111

agrinnall wrote: »

The use of the word 'offers' suggests that you are failing to get any properties and may be aiming too low (I'd certainly tell you to take a hike if I was selling).

10% below is a decent start point so you dont make a financial mistake ( i am also cash), work up from there if you like. Depends on property/situation.

Why dont you take a hike eh, wasn't talking to you.

Crashy_Time

agrinnall wrote: »

The use of the word 'offers' suggests that you are failing to get any properties and may be aiming too low (I'd certainly tell you to take a hike if I was selling).

Course you would, as would most on here it seems In reality though there are a lot of people who need to shift their property, 10 - 15% below seems a good starting point in this totally overpriced market when sales are tumbling daily.

ReadingTim

It's a percentage based on the distance between the 2 ends of some bit of twine.

Or in other words, how long is a piece of string?

PokerPlayer111

I mistakenly "bought" 1 property firstly offering 91% then 94% then agreeing on 96% we went to SSTC and we decided 1 week later to pull out. Well that property now has been on for 4 months not sold and been reduced to an asking price currently of what we agreed months ago (the 96%). Its a decent modern property aswell, nothing much wrong with it. So you would get it for less now.

Offering too much bad idea.