Is it worth a cheeky offer?

macman

It's not 'cheeky.' it's simply a low offer. They can accept or reject it, and you can increase your offer or withdraw. 
You have nothing to lose by trying. 
At some point between you, there is a sweet spot that is acceptable to both parties, and only the 2 of you can find where that is. No on else can tell you.

TheJP

It sounds like you and your other half need to find a happy medium if you really like this house. I wouldn't go in at £95k below asking for a number of reasons;

• seller will feel offended
• It leaves a negative picture of you in the mind of the seller, not great if you feel you want to re-negotiate or try and get additional viewings etc.
• The seller may be prone to accepting a gazunder offer should someone come in and offer slightly higher than yours

The property has been on the market 5 months, granted its a sellers market but it may be that house just out of reach for some and not quite fit the needs of others. 

surferrosa100

Deleted_User said:

Exodi said:

surferrosa100 said:

Our comfortable budget is around £600k and hubby is very reluctant to go much above that.

surferrosa100 said:

We can afford asking price (£695k) so definitely not wasting sellers time by viewing the property!

Sorry bit confused now of what your max budget is? If your max budget is £700k then probably don't p*ss the vendor off by offering £100-£150k under asking?

I read it as 'we have the affordability to go to asking price but we don't think it's worth that much and would be much more comfortable spending £600k rather than the top end of our affordability'

I think it's more a case of looking at other properties that have sold and trying to gauge the realistic proper market value of the house. It sounds as though it is overpriced if it's been on the market so long and they may well take a lower offer if it's realistic but you could end up in a situation where you burn your bridges if you go too low. 

If you have good market equivalents you can show that support the £600k then that's fair enough, but I suspect it's probably somewhere between what OP would like to spend and what the vendor would like to achieve. 

Yes, that's exactly right. Most houses of that size in this area are more around the £550k - £620k region. We've gone in at £630k, willing to go a little higher but certainly nowhere near asking price. 

Now the waiting game....

HotPantsCruiser

So 80k over the amount other similar houses sell for? Why?

TheJP

surferrosa100 said:

Deleted_User said:

Exodi said:

surferrosa100 said:

Our comfortable budget is around £600k and hubby is very reluctant to go much above that.

surferrosa100 said:

We can afford asking price (£695k) so definitely not wasting sellers time by viewing the property!

Sorry bit confused now of what your max budget is? If your max budget is £700k then probably don't p*ss the vendor off by offering £100-£150k under asking?

I read it as 'we have the affordability to go to asking price but we don't think it's worth that much and would be much more comfortable spending £600k rather than the top end of our affordability'

I think it's more a case of looking at other properties that have sold and trying to gauge the realistic proper market value of the house. It sounds as though it is overpriced if it's been on the market so long and they may well take a lower offer if it's realistic but you could end up in a situation where you burn your bridges if you go too low. 

If you have good market equivalents you can show that support the £600k then that's fair enough, but I suspect it's probably somewhere between what OP would like to spend and what the vendor would like to achieve. 

Yes, that's exactly right. Most houses of that size in this area are more around the £550k - £620k region. We've gone in at £630k, willing to go a little higher but certainly nowhere near asking price. 

Now the waiting game....

What date are those prices you are comparing, recent? 

YoungBlueEyes

Maybe there have been other offers, and something queer keeps coming up on the survey...? 

Thrugelmir

surferrosa100 said:

Deleted_User said:

Exodi said:

surferrosa100 said:

Our comfortable budget is around £600k and hubby is very reluctant to go much above that.

surferrosa100 said:

We can afford asking price (£695k) so definitely not wasting sellers time by viewing the property!

Sorry bit confused now of what your max budget is? If your max budget is £700k then probably don't p*ss the vendor off by offering £100-£150k under asking?

I read it as 'we have the affordability to go to asking price but we don't think it's worth that much and would be much more comfortable spending £600k rather than the top end of our affordability'

I think it's more a case of looking at other properties that have sold and trying to gauge the realistic proper market value of the house. It sounds as though it is overpriced if it's been on the market so long and they may well take a lower offer if it's realistic but you could end up in a situation where you burn your bridges if you go too low. 

If you have good market equivalents you can show that support the £600k then that's fair enough, but I suspect it's probably somewhere between what OP would like to spend and what the vendor would like to achieve. 

Yes, that's exactly right. Most houses of that size in this area are more around the £550k - £620k region. We've gone in at £630k, willing to go a little higher but certainly nowhere near asking price. 

Now the waiting game....

Did you chat to the EA? 

surferrosa100

Good news, we upped offer to £635k and it was accepted! 

[Deleted User]

surferrosa100 said:

Good news, we upped offer to £635k and it was accepted! 

Wonderful news! Congratulations @surferrosa100. At least there was negotiation to be had in the middle ground! x

HotPantsCruiser

surferrosa100 said:

Good news, we upped offer to £635k and it was accepted! 

115k under their original asking price, wow.