What opening offers are you making?

agrinnall

PokerPlayer111 wrote: »

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

Like you I've also bought 2 properties at a higher than asking price (although both were in Scotland at a time where this was pretty much a standard thing), and 3 under the asking price by a few percent (although nothing near 10%).

However, I note that you avoided answering the questions that I asked, so I still suspect that your 10% tactic is an unsuccessful one.

Akahotpot

Opened with 6% under asking price
agreed at 5% under ...NorthWest

PokerPlayer111

agrinnall wrote: »

Like you I've also bought 2 properties at a higher than asking price (although both were in Scotland at a time where this was pretty much a standard thing), and 3 under the asking price by a few percent (although nothing near 10%).

However, I note that you avoided answering the questions that I asked, so I still suspect that your 10% tactic is an unsuccessful one.

If you read back i just said about how i went in at 91% on the house i got SSTC in the end at 96% so that one was very close to 10% under first offer. Think it got me it maybe 1-2% cheaper at the time because it was fresh on the market, turns out it was overpriced though but neither me, the estate agent or seller would have known at that time.

Also on another house i did offer 10% under over phone before viewing and on the viewing i got offered the house for 12% off. The house was ok aswell just wasn't quite right. Edit: actually that basically happened another time also.

Doing some of the price negotiation talk over phone before viewing seems to work well.

The 10% under tactic isn't bad because it lets you know which sellers are really motivated to sell their house and which are basically time wasters (yes time wasters) looking for the perfect buyer to come along and pay 99% or full asking etc.

dunroving

Have just offered 5% over asking price (Birmingham). On the market less than 48 hrs, 4 offers already and someone travelling up from the southwest to view it tomorrow. Will update when I know if I was successful!

harryandedwardsmum

It really depends on the area. Where we've just moved to, you have to have already sold with a short chain (if already own a property) or preferably be renting, be one of the first through the door and offer the asking price. And cross your fingers.

Edit: This is in Central Bedfordshire in an outstanding school catchment.

pink_pirlie

I sold for 99% of asking price (1.5k under), bought for 95% asking price (13k under) in south midlands.

Alarae

Pretty simple.

Sold at 100% (in four days).
Bought at 100%.

South east.

tori.k

We are offering on a house on Monday 100% of the asking price,in the south west, it's already fairly priced for a quick sale, we won't be offering above and hoping our position will be enough.

hazyjo

PokerPlayer111 wrote: »

The 10% under tactic isn't bad because it lets you know which sellers are really motivated to sell their house and which are basically time wasters (yes time wasters) looking for the perfect buyer to come along and pay 99% or full asking etc.

Nothing personal, I agree. But you can't stick a blanket rule on like that. I bought a house at -9% a few years back. But I also recently sold it at 99% not because I was an unmotivated seller or time waster, it was because I knew my local market and what I could get. Sold at £515k. There was no way I would've sold at 460k-odd :rotfl:

Also knew the market I was buying in inside out. Last time 9% off was realistic. This time, *I* would've been the timewaster! Embarrassing to think I could've got my house for £40k-odd less than asking price! Ain't happening round here!

lovehols

House up for OIRO £359K having been reduced from £375k, seller did viewing and told us there and then he would take £325k as we were in good position and he was dealing with probate and was left the house from a friend and he made it very clear he wanted the money. Said we were interested blah blah but needed more work that we thought, verbally agreed at £315k there and then. I think on reflection we could have got it cheaper but we were that shocked with the immediate reduction we almost agreed at £325k.

Surveys threw up some oddities, nothing we really didn't expect but used it to our advantage and eventually haggled down to £303k. I think it was timing, just before Xmas, good position and he didn't want to keep paying our for it and wanted his inheritance! Just shows sometimes you can negotiate a lot. Even the EA advised him against it, probably as they wanted more commission!