What opening offers are you making?

Crashy_Time

ReadingTim wrote: »

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?

Not really, it is more just accepting that there is a fantasy figure that many sellers are aiming for, like the froth on a cup of coffee, knocking this off, and letting them sweat :money:

AnotherJoe

The only fantasy is your belief that prices will fall to a level that will enable you to buy lower than the price you sold for 20 years ago.

noddynoo

I'm renting in the SE popular town and our LL had a surveyor come to do a valuation for a remortgage and he said 10% off reasonable in current market

Surrey_EA

noddynoo wrote: »

I'm renting in the SE popular town and our LL had a surveyor come to do a valuation for a remortgage and he said 10% off reasonable in current market

But that makes the assumption that all asking prices are set in exactly the same way, by sellers with exactly the same motivations, which they are not.

Sometimes 20% off is still not enough, other times paying the asking price is a good deal.

Basically, it varies!

ReadingTim

Crashy_Time wrote: »

Not really, it is more just accepting that there is a fantasy figure that many sellers are aiming for, like the froth on a cup of coffee, knocking this off, and letting them sweat :money:

I never said that wasn't the case, but this question is merely a variety on the what should I offer/how much is this worth? theme; itself largely analogous to the aforementioned piece of string conundrum.

agrinnall

PokerPlayer111 wrote: »

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.

So please tell us how many properties you have been successful in buying at 10% below asking price? Or even how many you have bought when starting your offer at that level?

yoshiyella

Sold for 110% of asking price
Bought for 103% of asking price

That was in a London Borough - when we sold, we listed Thursday evening, open day on the Saturday, sold on the Monday.

Bought - saw the house advertised on the Wednesday, offered on the Thursday, open day on the Saturday, offer accepted on the Monday.

crisp

I guess I should have added a time clause of in 2018 or thereabouts to keep it relevant.

ashe

agrinnall wrote: »

So please tell us how many properties you have been successful in buying at 10% below asking price? Or even how many you have bought when starting your offer at that level?

Is that what OP asked?

PokerPlayer111

agrinnall wrote: »

So please tell us how many properties you have been successful in buying at 10% below asking price? Or even how many you have bought when starting your offer at that level?

Its nothing personal against a vendor to make a 10% under asking price offer. If vendor takes personal offence to that they shouldn't. 90% offer on many assets selling on a market is a decent offer. Pricing a house is tricky, who really knows the price?

If it makes you feel better on 2 houses i've offered over asking price.

Average offer made my end has still been 10% under though. Generally people selling house will price high to not make a mistake unless they are more motivated to sell faster.