Putting in cheeky offer on houses?

[Mouthfulofquiz]

If you view a house, and like it, but it needs about 30k spending on it before it will become modernised - are you within your rights to bung in an offer for 30k less or is that massively taking the piss?
I've only bought one house before which had just been updated by a builder so was all good to go! This one needs central heating, boiler, bathroom and kitchen (both unsafe) and wiring just for starters. If it was me living there on my own I would be able to just to the required works to make it safe but as I would be bringing the young family with me it's a bit different isnt it?
I've been tactfully trying to extract info from the estate agent but to little avail!
So in essence: on a 200k house, is an offer of 170k going to make me an unreasonable twat?

[hmc]

It will have been marketed with a price based on the fact that it needs modernising. If it didn't need modernising the asking price would be higher

[Shakey1500]

No, I'd say 170k isn't going to make you an unreasonable twat

In fact, I'd start at 165k. They can only say no and you can negotiate up.

[Mouthfulofquiz]

Cool - thanks :-)
Knew it was worth asking!

[thebody]

You can offer what you like and they can accept or refuse.

It's a business transaction not a bid for life long friendship.

Go for it.

[TheFallenNinja]

Fortune favours the brave

[WineNot]

I'd be looking at what they paid for it and when, and basing my offer on that. But, as shaken says, they can only say no.

Lots less than what they paid... Expect to get knocked back. Anything more and you're out of 'cheeky' territory IMO... But it does depend entirely on when they bought.

If any of that makes any sense whatsoever...

[LastTangoInDevonshire]

If YOU'RE not embarrassed by your first offer..........then it's too high !

[WhoNickedMyName]

You should be quite literally cringing when you make your first offer - according to Phil and Kirsty.

I'd go in at 165 to start.

[mellicauli]

If that's really what you would pay for it, go ahead. But it really depends what similar houses in the area are going for. If it's already priced to take that into account, you won't be successful unless they are desperate. And if there's an amazing house comes on the market, the agent won't be ringing you first I guess.

[MsVestibule]

We put an offer of £240k on a house that was being marketed for £280k, having previously been put on the market for £340k, but had been reduced due to the housing crash (particularly bad where we live). It didn't need anything doing to it, but we just didn't fancy paying the asking price!

They refused it, but said we could have it for £249k and threw in the Aga (worth about £3k second-hand). Basically, anything is only worth what somebody is prepared to pay for it. Be aware, though, that they may accept your offer but refuse to take it off the market, in case anybody offers more. It completely depends on the market in your area.

[Trills]

It's not unreasonable of you to make an offer, and it's not unreasonable of them to not accept the offer.

[VBisme]

Do it, we made an offer that I didn't think would be accepted in a million years - currently sat in the home of my dreams!

[sewingandcakes]

We sold our house recently, had a couple of silly offers but settled at around 5% less than the asking price, which I think is what 's expected now. YANBU to offer less, but neither are they to refuse...

[Mintyy]

"according to Phil & Kirsty"

[WafflyVersatile]

'tis the work of but a moment to say 'no'.

[MsVestibule]

Why the snort at Phil and Kirsty ? I thought they had a lot of experience in the property business, pre their TV presenting days?

[MrsCampbellBlack]

We bought our current house just over 2 years ago. We offered 20% under the asking price and they accepted that eventually.

Took them 3 months though

[Ellypoo]

I wouldn't consider that a cheeky offer - you never accept the first offer anyway. You can justify it by pointing out the work but it is likely that it is already priced taking that into consideration.

[MrsCampbellBlack]

I know people who have had 3 valuations and then put their houses on at more than the highest valuation. So I felt no guilt at offering what I thought a house was worth bearing in mind what needed doing to it and what the local market was like.

People are free to decline an offer.

[Justforlaughs]

Do it! Let us know how you get on (as long as it's not an offer for MY house! ) If the house has only just gone on the market I'd be surprised if they accept, but if it has been a while/ they are in a hurry to sell then who knows.

[Mintyy]

Snorting at Phil & Kirsty because they never actually put in a cheeky offer on the show. IF the house gets bought it is usually very close indeed to asking price.

[Mouthfulofquiz]

Thanks everyone for you input! Hearing from some of you sat in your dream houses is really nice :-)

[MsVestibule]

Mintyy Fair enough, thanks for the explanation!

[Mouthfulofquiz]

It's hard not to get attached to houses that you look that though isn't it? I'm struggling with the whole 'business transaction' thing even though I KNOW it's the only way!

[Ellypoo]

We got our current house for 50% of the original asking price but only after several very cheeky offers and a failed auction - actually got it for less than our first offer in the end, but was only because of the sheer amount of work needed that put everyone else off!