Cash Buyer - how much lower to offer?

calligraphysenior

hazyjo said:

It's not really that relevant what it sold for 3 years ago. How does it compare with others on the market now? How long has it been up for sale? What's their position? What's the local market like right now - slow or fast moving?

Cash buyer wouldn't mean much to me as far as price goes. I'd rather it take a month longer and get possibly tens of thousands more.

Thanks. That's interesting. The market is fast moving but the price is well above the zoopla estimate. (60k higher to be precise)

JJR45

Market is still to hot to get any meaningful discounts IMHO.
The people who overprice the asking price are usually the ones unwilling to negotiate. 

theoretica

I don't see low offers as rude - a two letter reply doesn't waste much time - but offering significantly low is more likely to get a flat rejection than open a negotiation if that is what you want to do. 

How long has it been listed for?

calligraphysenior

Crashy_Time said:

How long has it been for sale, how many offers have they had?

Less than a month. I don't think they've had any offers yet. But I imagine they will as it would be a nice family home. I'm hoping being cash will help...

hazyjo

calligraphysenior said:

I looked up an estimate of its value and it came in at 282, so 305 is still over that quite considerably. The other property that I have been hankering after in that area is so overpriced that today we withdrew our offer. I guess it wouldn't hurt to try less.

Looked it up? Are you talking about the likes of Zoopla? They're likely to laugh you out the office if you quote that as fact or reason to offer low. It has been between £100-200k out on previous properties I've owned lol.

calligraphysenior

JJR45 said:

Market is still to hot to get any meaningful discounts IMHO.
The people who overprice the asking price are usually the ones unwilling to negotiate. 

Ain't this the truth! Is it best to wait until after the stamp duty holiday?

calligraphysenior

hazyjo said:

calligraphysenior said:

I looked up an estimate of its value and it came in at 282, so 305 is still over that quite considerably. The other property that I have been hankering after in that area is so overpriced that today we withdrew our offer. I guess it wouldn't hurt to try less.

Looked it up? Are you talking about the likes of Zoopla? They're likely to laugh you out the office if you quote that as fact or reason to offer low. It has been between £100-200k out on previous properties I've owned lol.

I've found Zoopla super accurate previously, so this is interesting.

goodwithsaving

I don't give cash buyers the opportunity to pay less, cash buyers have been the hardest work to deal with in my past transactions, and tried to suddenly lower prices near exchange etc. The chain is the part I pay attention to, and perhaps the LTV, but not the 'cash buyer' part. I chose a mortgage buyer over a cash buyer because I actually wanted to avoid a cash buyer again.

Crashy_Time

hazyjo said:

calligraphysenior said:

I looked up an estimate of its value and it came in at 282, so 305 is still over that quite considerably. The other property that I have been hankering after in that area is so overpriced that today we withdrew our offer. I guess it wouldn't hurt to try less.

Looked it up? Are you talking about the likes of Zoopla? They're likely to laugh you out the office if you quote that as fact or reason to offer low. It has been between £100-200k out on previous properties I've owned lol.

Yes, but nobody really cares what EA`s think do they? The house sounds obviously overpriced, what does PropertyLog say about price activity in the area OP?

goodwithsaving

Crashy_Time said:

hazyjo said:

calligraphysenior said:

I looked up an estimate of its value and it came in at 282, so 305 is still over that quite considerably. The other property that I have been hankering after in that area is so overpriced that today we withdrew our offer. I guess it wouldn't hurt to try less.

Looked it up? Are you talking about the likes of Zoopla? They're likely to laugh you out the office if you quote that as fact or reason to offer low. It has been between £100-200k out on previous properties I've owned lol.

Yes, but nobody really cares what EA`s think do they? The house sounds obviously overpriced, what does PropertyLog say about price activity in the area OP?

To you, every house is over priced. You've been banging on the same tune for years and it's BORING.