What to offer?

Sphynx

I’m planning on putting an offer in on a house tomorrow. It has been on the market a couple of weeks and they have had 7 viewings and one offer which the EA only said they didn’t know if it was going anywhere.

It’s on the market for OIRO 489.950 I would be ok paying 480. I don’t know whether just to make a full and final offer, offer a bit lower and expect to come up or what. Any help appreciated 

NameUnavailable

There are no rules. Offer what you think is best. Personally I would tend to start off a bit on the low side as you can always go up.

What is your position? Cash buyer, completed chain? If you're not ready to proceed then you're not in any real negotiating position, but nothing to stop you putting an offer in principle on the table.

numbercruncher8

Nobody knows without context. The asking price is largely meaningless - could be priced to sell or a kite-flyer.

If you don't post the listing, you'll simply get a load of 'I took 480 on my house' or 'I'd tell you to get lost if it were my house', which is not that helpful.

It may be possible to guess that if the EA are willing to disclose that much, it isn't that popular a listing, and possibly overpriced.

Sphynx

https://www.rightmove.co.uk/property-for-sale/property-83147560.html

Sphynx

We have accepted an offer on our house and our buyers are selling to someone who is going to rent theirs out. The vendors of this house are moving into a family home following a bereavement

numbercruncher8

I really like that place. 
No idea of the area, but I'm sure some excellent advice will follow soon from those that do.

tweet86

It’s hard to know what to offer. Some houses asking for OIRO end up dropping the price anyway, it depends what the area is like and how badly you’d like the house. It doesn’t suggest that it’s worth that price. We’ve never found the perfect house, there’s always several houses that are what we are looking for, so we always take a risk and make a low offer and go upwards. However if the house was a must I would make my best offer. The house is worth what you are prepared to pay. It looks like a wonderful house though 

RelievedSheff

Sphynx said:

https://www.rightmove.co.uk/property-for-sale/property-83147560.html

Nice house but a difficult one to value given the total lack of recent sales on the road.

I personally think that the vendor is going to hold out for an asking price or higher offer on that one but there is no harm in putting an offer in and seeing where it goes.

We don't mess about when offering on a house that we like. We go in with a firm and fair offer and make it clear that this is our best and final offer.

Mickygg

RelievedSheff said:

Sphynx said:

https://www.rightmove.co.uk/property-for-sale/property-83147560.html

Nice house but a difficult one to value given the total lack of recent sales on the road.

I personally think that the vendor is going to hold out for an asking price or higher offer on that one but there is no harm in putting an offer in and seeing where it goes.

We don't mess about when offering on a house that we like. We go in with a firm and fair offer and make it clear that this is our best and final offer.

Same as me. I make it clear as well this is all I’m paying there are no more offers coming. 

Looks like a lovely house. As there has been interest I would go in at £480k but make it clear that is all you are prepared to pay. 

Lespaul1960

Lovely house, one thing worries me, shared private drainage system, but if that does not worry you . Go in at 475K then up it to 480. Good Luck.

Crashy_Time

How much did they buy it for, and when, do you know?