Cheeky offer

zoemk12

We do intend to wait it out after the viewing. If it hangs around a bit hopefully it will reduce and then we will see. I will update and let you know. Thanks for advice and making me smile with some of the answers  

caprikid1

Sarah1Mitty2 said:

caprikid1 said:

I am assuming you also have a property to sell. 

There are many who are desperate to talk the market down so be cautious of the advice you receive, if you cannot afford at least 90% of asking you are probably setting your sights too high.

Not difficult to talk it down now, I would be more wary of those desperately trying to talk it up for whatever reason. Go in at 25% off OP, can you back this up with results from PropertyLog etc. for your area?

As has been stated already beware of the Crashy Sock puppet

Sarah1Mitty2

hazyjo said:

If it's THAT overpriced, I'd be waiting for it to drop a chunk before putting in a "cheeky offer".

I also wouldn't deal with someone offering 30% under.

That might be good advice.

mi-key

caprikid1 said:

Sarah1Mitty2 said:

caprikid1 said:

I am assuming you also have a property to sell. 

There are many who are desperate to talk the market down so be cautious of the advice you receive, if you cannot afford at least 90% of asking you are probably setting your sights too high.

Not difficult to talk it down now, I would be more wary of those desperately trying to talk it up for whatever reason. Go in at 25% off OP, can you back this up with results from PropertyLog etc. for your area?

As has been stated already beware of the Crashy Sock puppet

25% off is why crashy is still renting !

Emily_Joy

mi-key said:

caprikid1 said:

Sarah1Mitty2 said:

caprikid1 said:

I am assuming you also have a property to sell. 

There are many who are desperate to talk the market down so be cautious of the advice you receive, if you cannot afford at least 90% of asking you are probably setting your sights too high.

Not difficult to talk it down now, I would be more wary of those desperately trying to talk it up for whatever reason. Go in at 25% off OP, can you back this up with results from PropertyLog etc. for your area?

As has been stated already beware of the Crashy Sock puppet

25% off is why crashy is still renting !

Or a shortage of repossessed properties in her/his area

mi-key

Emily_Joy said:

mi-key said:

caprikid1 said:

Sarah1Mitty2 said:

caprikid1 said:

I am assuming you also have a property to sell. 

There are many who are desperate to talk the market down so be cautious of the advice you receive, if you cannot afford at least 90% of asking you are probably setting your sights too high.

Not difficult to talk it down now, I would be more wary of those desperately trying to talk it up for whatever reason. Go in at 25% off OP, can you back this up with results from PropertyLog etc. for your area?

As has been stated already beware of the Crashy Sock puppet

25% off is why crashy is still renting !

Or a shortage of repossessed properties in her/his area

And a definite shortage of sellers who are desperate to give away their houses !

zoemk12

caprikid1 said:

Sarah1Mitty2 said:

caprikid1 said:

I am assuming you also have a property to sell. 

There are many who are desperate to talk the market down so be cautious of the advice you receive, if you cannot afford at least 90% of asking you are probably setting your sights too high.

Not difficult to talk it down now, I would be more wary of those desperately trying to talk it up for whatever reason. Go in at 25% off OP, can you back this up with results from PropertyLog etc. for your area?

As has been stated already beware of the Crashy Sock puppet

‘Crashy sock puppet’? 

lookstraightahead

zoemk12 said:

We do intend to wait it out after the viewing. If it hangs around a bit hopefully it will reduce and then we will see. I will update and let you know. Thanks for advice and making me smile with some of the answers  

I think you have a sensible approach. You really have nothing to lose if you keep things in perspective. The market is all over the place and there is always another property if things don't work out. 

You can decide whether the risk of sellers throwing their toys out of the pram is going to bother you or not. I would say don't worry. Accept that they might refuse, and be prepared to walk away if need be. 

In my mind there is very little threat to making low offers so long as you're level headed about the various outcomes. 

Scotbot

No vendor is going to consider an offer 30% under asking if the property is recently listed.

 One of three things will happen: 1. The property sells as the price was fair 2. The vendor reduces the price when they realise there is no interest 3. The vendor refuses to budge because they don't have to sell and/or they need the asking price to secure what they want. 

Nothing to stop a cheeky  offer but most vendors won't go more than 10% below the current listed price. They usually can't afford to. That doesn't mean the property will sell but staying put is often a viable option 

[Deleted User]

hazyjo said:

If it's THAT overpriced, I'd be waiting for it to drop a chunk before putting in a "cheeky offer".

I also wouldn't deal with someone offering 30% under.

If you wait there might be other buyers. Getting in early is a good idea.