What offer?

funkster7

If i was to put offer in for property at the moment what would people suggest is realistic?(% below asking price)

pinkshoes

Where is the property? how much is it? how long has it been on the market? how long is a typical property in the area taking to sell?

Are you in a strong postition? i.e. Are you a first time buyer? Cash buyer? Or in a chain?

funkster7

I have just sold and have equity from old property.We were going to purchase house 6 months ago for 147000.We have now agreed 143500 on the same house now i think that price is too high.We would also consider other 3 bed properties in the area which range from 140000 up to 170000.Houses that we looked at 10 months ago are still on rightmove but the asking price hasnt moved much.

Gorgeous_George

You should not simply offer a % below asking price. The asking price may be too high, could be on the mark or may even be low already.

You should look at the house and ignore the asking price. Decide how much it is worth to you and then, look at the asking price before making your offer.

GG

Dick_here

11.273% is today's rate.

funkster7

So offering 10 - 15% below asking price is not uncommon

pinkshoes

no ask, no get! It's worth a try, as the worst they can say is "no". They might laugh at you, they might accept.

replicant69

I was looking at a property not long ago, £320,000 asking price and they went down to £280,000 and would also pay the £9K stamp duty! So I had to ask myself "was it overpriced in the first place?" maybe, but also it was a new build so I think they had a certain amount to play with?

It was good to test the market and since then Ive realised alot can also depend on peoples circumstances, a friend of the family has just dropped his by £40,000 to get a sale to go through, desperate to sell so he was prepared to take the drop, especially with todays market and the uncertainty of the next 12 months. Im hanging on for now and occassionaly put in the odd offer a good £30,000+ less than the asking - I agree with the other statements made on this thread - worst they can say and have said is "no".

kingkano

funkster7 wrote: »

We were going to purchase house 6 months ago for 147000.We have now agreed 143500 on the same house now i think that price is too high.

Im confused. your asking how much to offer but you've already agreed a price twice and changed it. What you actually want to do is gazunder them yet again??

My question would be why did you agree a price you think is too high in the first place? To drag them along and renegotiate later for cheaper? Or am I getting confused?

funkster7

So it may be an idea to pull the offer i have on the current property and maybe wait a few months putting some low offers in on properties

funkster7

i was originally buying this house then my sale fell through.Once i had sold we went back to the house and agreed slightly lower offer.Now i'm thinking this offer is too high seeing that other similar properties may reduce in the coming months.I am looking for the best for my money buying in the next 6 months