reasonable offer???

halia

Whats a reasonable offer in todays market?

I know that sounds like an open question but I'm talking percentages not actual figures and the following factors:

House has been reasonably priced to reflect relative size/condition etc in relation to other houses with same number of bedrooms in area and has been valued at X by 4 estate agents and similar value by surveyor (home buyers)

Its all 'reasonable and good' ie nothing spectaculur, and nothing awful.

Not a huge glut on the market of houses of this size/price in this area.

What would you offer
What would you be prepared to go up to
what would you accept if you were a seller

I guess what I'm really asking is ---- when my parents bought 30 years ago they offered the asking price and that apparantly was pretty normal. Nowadays the figure of 10% gets bandied about alot, is this just the drive of TV programs etc to get a 'bargain'?
With the current media hype of a credit crunch/crash etc etc do you feel you ought to offer 20% under - even if a year ago you would have felt the house was worth its asking price?

Dr_Moe_2

If your house was up for sale and a potential buyer offered you 20% below your asking price quoting "the current state of the market", how would you feel?

Gonzo

We took 4% less.

Barring an apocalypse, we weren't going to go below 8%. And anything near the bottom end would have been sat on for quite a while as we weren't desperate to sell. We might have accepted less if we could get the same (in real value, not from a hyper-inflated original price), but it would require not only the signs to be there, but hard tangible proof of everyone else doing the same. I don't care what people say about not chasing the market down, no'one (except someone painted into a very small corner) is going to want to be the only one that drops... just in case.... That doesn't mean it couldn't happen, but human nature is to hang on to money, not throw it away because the Daily Mail says you should!

MrDT

Dr_Moe wrote: »

If your house was up for sale and a potential buyer offered you 20% below your asking price quoting "the current state of the market", how would you feel?

What does that matter? A buyer isn't there to care for the poor sellers feelings surely? :rolleyes:

What does the OP think the house is worth? Did the OP think the house was worth asking price a year ago but is now worth substantially less, or are they just being cheeky/greedy?

In my opinion there's nothing wrong with being cheeky if you haven't got your heart set on the house (from the 'nothing special' remarks I'm guessing that's the case here) Where's the harm in trying to save a little (or a lot) of money? I thought that was something we all had in common on these forums

LilacPixie

I would offer what i thought it was reasonably worth minusing off the cost of any improvments or alterations I would need to do to it to make it suitable for my familly.

As for if i was selling it would depend on my circumstances, how long on the market, interest etc. I would be unwilling to even consider anything under 10% tho.

In my mind the 'current climate' is not a long term thing. I personally feel i would rather stay put that sell for under the odds just in case.

neverdespairgirl

Dr_Moe wrote: »

If your house was up for sale and a potential buyer offered you 20% below your asking price quoting "the current state of the market", how would you feel?

Who cares? It's a financial transaction, the seller can refuse the offer if he doesn't like it.

halia

I was asking in general terms because we are both buying and selling. I know that the media affects how people feel about what to offer/ what is a good 'buy' etc so I guess what I am trying to get at is this. If you are buying before you even get details of properties do you have a general figure in your head that you will offer at/start negotiations with? ie 10% under

If you are selling do you have a general figure that you expect to get/accept (ie get offered 10% under and accept anything above 95%)

The reason I specified nothing special was because those out of the ordinary houses are very difficult to price. I am thinking about the average house for the average person, not a dream house (which you might offer over the asking price just to secure) or the opposite.