Would you say 15% under asking price is fair to offer...?

phil_b_2

Bf109 wrote: »

Yes. Of course. You think they have some scientific method for doing it?

They just base them on recent previous sales. If house 'A' sold for 180k last week, house 'B' which is near identical should too. Of course, some slip through the net which are stupidly overpriced, and they will sit there for a long time.

Some people think that because house 'A' was a 3-bed semi, then their house (B) which is also a 3-bed semi will sell for the same. They neglect the fact that theirs, albeit only 2 doors down, has a 10 year out of date kitchen/bathroom and is on a corner plot with only 1 parking space and lorries driving by within 3 feet of the front door. Things like that make an enormous diff to the value!

neverdespairgirl

Treadmill wrote: »

Oh I dont know, they might not be offended and you might not be embarrased but you would certainly look naive and foolish offering 40% less than asking price on a 130K house (78k) unless it was on fire lol

Who cares if you look naive and foolish to some random people? Don't ask, don't get.

SquatNow

If you are not embarrased by your offer, then it is too high.

Treadmill

neverdespairgirl wrote: »

Who cares if you look naive and foolish to some random people? Don't ask, don't get.

Bid 40% less than the asking price and you won't get...

Somebody prove me wrong here with anecdotal evidence of areas where people are making offers of 150K on houses with a 250K asking price and have been succesfull ?

phil_b_2

neverdespairgirl wrote: »

Who cares if you look naive and foolish to some random people? Don't ask, don't get.

The buyer should care.

If they really like and want the house, they dont want to start with a comical initial offer and look like a non-serious bidder. The vendor will laugh off the offer, and probably subsequent offers after that not thinking they mean business.

Also, if you start at 110k on a 180k house, then ramp up to 130, the 140, then 150, they will just keep waiting you out thinking you will keep going.

I beleive a firm first, best and final offer is a better tactic, then bump up a few k more possibly. Give them a hard decision from the 'go'.

Just my opinion of course.

SquatNow

The obviouse choice is to find a dozen houses you find acceptable, make very low offers on each one and tell them all that they are bidding for your money.

Someone will want to sell more than the others.

Of course, anyone even thinking about buying in the current market needs their head examining.

poppy10_2

phil_b wrote: »

Its true the vendor can only say 'no' to a 30-40% lower offer, but dont expect to be taken even remotely seriously. They WILL laugh!

I think they are more likely to cry :money:

geoffky

i have been after a house since july last year it was 285k i offered 210k told to go away four moths later a phone call .will you offer 250k told them to go away 2 months later phone call vendor needs 220k to break even.told them things have changed since then and i would not even pay 200k ..three months on last week will you make a offer on the place now as they want to sell....me.. i will make a offer....at the end of next year ... they still have the place on for 250k having reduced on right move about two months ago. this house is a lovelly four bed det and has been on the market 18 months they have now gone dual agency and it is a no onward chain..and i am cash buyer...


"If you buy with your heart you will pay more than if you buy with your head"

Treadmill

geoffky wrote: »

i have been after a house since july last year it was 285k i offered 210k told to go away four moths later a phone call .will you offer 250k told them to go away 2 months later phone call vendor needs 220k to break even.told them things have changed since then and i would not even pay 200k ..three months on last week will you make a offer on the place now as they want to sell....me.. i will make a offer....at the end of next year ... they still have the place on for 250k having reduced on right move about two months ago. this house is a lovelly four bed det and has been on the market 18 months they have now gone dual agency and it is a no onward chain..and i am cash buyer...


"If you buy with your heart you will pay more than if you buy with your head"

This is the reason people put "No time wasters" on ads.

geoffky

why am i time wasting. i am trying to pay little as possible for something that was very expensive...do you go and pay over the odds on your car....dont answer that one
285 to 220 timewasting...you must be loaded