house up for sale 450k, whats a good starting offe

[Deleted User]

our dd put her house up for sale last september and it has SOLD at what my dd wanted and to a cash buyer. Lots of interest in it last week and they turned down an offer by another buyer. If you really want it then put in a decent offer ie £435

Jonbvn

kittie wrote: »

our dd put her house up for sale last september and it has SOLD at what my dd wanted and to a cash buyer. Lots of interest in it last week and they turned down an offer by another buyer. If you really want it then put in a decent offer ie £435

Sorry but I must disagree with the above post.

I would offer well below 400k to start with - maybe 375k. What have you got to lose? They can only refuse. Remember things have changed a lot since Sept last year and we are now in a buyers market.

merlinthehappypig

Jonbvn wrote: »

Sorry but I must disagree with the above post.

I would offer well below 400k to start with - maybe 375k. What have you got to lose? They can only refuse. Remember things have changed a lot since Sept last year and we are now in a buyers market.

I agree.

There is no guarantee that you will get a bargain if you do, but if you start too high you won't even give yourself a chance.

We viewed a house on at £599950 which had already been reduced by £50000. Had we liked it I doubt that we have dreamed of offering £100000 or so under the new price, yet within a couple of months of our viewing it had been reduced to offers around £499950 and eventually sold for £480000.

You simply can't tell unless you try.

happinessfactory

mr.broderick wrote: »

That's because house prices aren't dropping, no matter how much we all wish they would it doesn't mean it is actually happening. If you want that house buy it, dont waste years of your life hoping for a reduction in prices, life's too short.

Maybe in your neck of the woods, Mr Broderick.

Here in West London, there are houses where the owners are instructing their agents to phone around all previous viewers telling them they're now willing to entertain offers some 20% below the (admittedly hilarious) asking price, but refusing to cut the asking price on the internet in case it comes up on propertysnake and people start insisting on even bigger discounts.

Madness. Set a sensible price, sell the bloody house and let's all get on with our lives

We've put in two "embarrassing offers". Each is 25% lower than the asking price, but nevertheless 15% higher than the 2006 price in each street. Each house has been on sale since May. We'll happily wait the market out for the sake of £200k. We're not wasting years of our lives waiting for the vendors to see sense - you're much more likely to waste your life if struggling to pay a hugely inflated mortgage:rotfl:

Jonbvn

happinessfactory wrote: »

Here in West London, there are houses where the owners are instructing their agents to phone around all previous viewers telling them they're now willing to entertain offers some 20% below the (admittedly hilarious) asking price, but refusing to cut the asking price on the internet in case it comes up on propertysnake and people start insisting on even bigger discounts.

Interesting info regarding propertysnake. When people start having an internet price and a "real" price for a property, it is a very clear indication that something is afoot.

Kez100

Their acceptance is all going to be about their position. A house locally to me came on a similar time as the one you are looking at for 395 (what I would have said seemed fairly sensible at the time) and dropped this week to 355. Obviously for a while there has been a huge leeway with them, but no one would have known until they made this move. Equally, another place has been on even longer for 485 (vastly overpriced) and has never dropped. Who knows, they may be thinking of dropping or then again they may only be on the market to see if they can bag someone on the brink of madness.

You must try low just in case they are thinking that way. If they don't accept or negotiate then I would walk away and find someone who will - I am sure they must be out there. If you desparately don't want to live anywhere else, then fine, but you know the score - when you feel that way you will be less likely to bag a bargain.

happinessfactory

http://www.rightmove.co.uk/viewdetails-9339420.rsp?pa_n=2&tr_t=buy

We saw this house in June last year.

There have been no price cuts on the internet.

The agent has been badgering us to make an offer since late October. We said our best offer would only be around £725k based on what else we'd seen, and the agent said, "Go on, try it, you never know."

So we declined to make an offer altogether. If she's willing to reduce that much, surely she'll take even less in the Spring:rotfl:

merlinthehappypig

The house that we have just agreed a price on was still on at £575000 on Rightmove, but reduced to £525000 on the agent's website.

I assumed that this was simply an error - it hadn't occurred to me that it might be deliberate because of propertysnake.

No wonder it was so hard to get them down further in price.

boinging_2

AHHHHHHHHHH! Sorry this kind of thread is starting to do my head in! (I know I shouldn't read it...)

The housing market is falling - FACT
Consumer spending is falling - FACT
Consumer confidence is lower than 07 - FACT
Banks are lending less / being more selective - FACT

All this adds up to house prices coming down on going. Why people don't want them to is beyond me. More people benefit than lose.

Offer 375K and hold tight. You are a virtual cash buyer and that will be a very rare thing in the coming months.

Rick62

Also look at actual sold prices, go to a site like www.houseprices.co.uk and see what similar property has sold for in the past. I would make my offer based on what property had been selling for back in about 2002-2004 maximum. If that means £325k then so be it - just explain why.