Offer - what would you do?

gemima

Hi,

We have been searching for a house for ages and are lucky our buyer is fairly patient albeit not for much longer!

We have seen a lovely place but not to everyones taste but we can see the potential.

The thing is we made a mistake of looking at it even though it is over our budget. It has had two price drops quite quickly (down my 50K) although I think it was overpriced to start off with and is now at £299,995.

When we spoke to the agent I said had they not had much interest in it at the previous figure and he contradicted himself by saying 'oh yes but they want to sell so they have reduced the price!!!!' - obviously no interest then!

The owners have obviously been there over 8 years because we can't find any data on our property. There were 4 viewings one after another at the property when we were looking but don't know other peoples circumstances.

Our buyer isn't in a chain and this house isn't in a chain so perfect really apart from price. Realistically we can afford only £250k and are loathed to go over in this market.

Do you think we would be insulting the owner if we offered this? I have read other offers posts on here and would appreciate feedback from anyone who has offered low and got the house.

Thanks

Captain_Mainwaring_2

He can only say NO.

So long as when you make the offer you assure him that you can and will proceed directly.

dexters_mum_2

Exactly as the Captain has said, you can try and they can say no.

Larger properties are slow to sell anyway, you are in a good position to proceed and of course you should make the point about stamp duty as well.

Make a list of works needed to be done and make a reasonable assumption of the costs that would be incurred to rectify the issues and use this as a bartering tool.

Personally, i would start lower and work towards the £250k mark, it will lower thier expectations but they might see you are serious and therefore accept the offer.

Don't be tempted to go over your figure though, if you really can't afford to.

Best of luck, let us know how you get on!

geoffky

I really think this offer is a fair offer as you are ready to go and are not in a chain..but dont fall for the lying the estate agent will use to get you to up it.pay 250k and no more as you will then have a cushion for the coming storm...

stuffcrash

offer 250k the EAs will do there best to sell if for you now, its in there interests to sell and get a comission from it, they are working for you now not the seller.

Doozergirl

Four viewings one after the other would indicate that people might think it is worth around the asking price even if they don't offer. Certainly if they were to drop their asking price to even £275,000 I should think they'd be finding a sale.

Of course it's worth asking, but I'd be prepared to be overjoyed if the offer was accepted and not surprised if it wasn't. These people have already had unrealistic expectations. I'd suggest they're still looking for as much as they can get.