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What’s an acceptable offer in the current market?
I am going to make an offer on a house I like once I get to do a second viewing. It’s 22 years old and in relatively good condition but the kitchen is the original one and so are the bathrooms, and the sanitary wear is a bit dated in style. It’s perfectly liveable though and nothing needs doing urgently. Estate agent has said that there have been 2 offers so far but neither has been accepted. I’m not sure a. whether there have been 2 other offers (don’t estate agents always say that?), b. whether the offers have been too low, or c. the potential buyers aren’t in a position to proceed. The property has been on the market for just over 3 weeks.
I’m thinking of putting in an offer at just over 4% below the asking price of 925k. Does that sound reasonable? I’m not expecting that to be accepted but would like to get it for around 900k if I can, although I would pay the asking price if I absolutely had to as I’ve looked and looked for the right house and this house ticks most of my boxes. I just don’t want to offend the seller to the extent that it damages negotiations but I’m thinking that if I put in a higher starting offer it means that the price could push up more than I need to.
I don’t need a mortgage and sold my property a few months ago so I can move fast or slow depending on what the seller wants.
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