Offering on a reduced house?

Crashy_Time

Davesnave wrote: »

I thought people were advising the potential buyer, but hey, what do I know, I've only read the thread!

If you read the post I responded to you should see that a potential buyer offering 30-40k less than asking price does indeed support my belief that the market is weak, as opposed to that posters view that the market is really strong but people may just be "scaremongering" when they say it is weak.

NaughtiusMaximus

Crashy_Time wrote: »

If you read the post I responded to you should see that a potential buyer offering 30-40k less than asking price does indeed support my belief that the market is weak, as opposed to that posters view that the market is really strong but people may just be "scaremongering" when they say it is weak.

No it doesn't. When it comes to judging the state of the housing market It's the final selling prices which matter and how these prices compare with historic prices for simlar properties, lowball offers which are rejected are irrelevant (as indeed are inflated asking prices which are never met).

Davesnave

Crashy_Time wrote: »

If you read the post I responded to you should see that a potential buyer offering 30-40k less than asking price does indeed support my belief that the market is weak....

An alternative explanation is that one inexperienced person posted, who needs guidance.


If other posters respond in a way that helps an acceptable offer to be made, that helps both buyer and seller.

warby68

30% below asking - very unusual if this were entertained and highly likely you would be dismissed as a timewaster. To be honest £95k v £115k is also probably quite unlikely. Others may disagree but my ballpark guidance would be up to 10% may well get them negotiating, 10-20% might get a foot in the door in certain circumstances and it helps if you identify these, 20%+ very rare that you will be seriously considered.

Talk to the agent, sound them out for why it hasn't sold. Sometimes they do tell it quite straight.

If you have a genuine budget constraint and are not just being 'cheeky' then perhaps you are aiming a little too high.

You believe it is overpriced and can use comparables etc to prove that? Even then it only determines what's a sensible offer for you to make and not what the seller will consider.

I'd be interested to know what your rationale for £85k/£95k is. If its a 'lovely little cottage' the vendor is unlikely to be 30% out with the price.

martin1959

Why not offer £130k.......that will take the wind out of their sails, and they would likely accept....

sheepy21

If I were the seller and you offered less than 100k I’d tell you to jog on, 30% off is huge, especially when it’s already very cheap,