low offer on house should we take it?

[bebemad]

there is an offer on our house for 14k under the asking price, buyer can move straight away, mortgage in place etc should we take it? not sure whats going to happen/ when we will get another offer do you think with the housing climate the way it is it would be better to cut our losses and accept?

[ivykaty44]

your house is only worth what someone is prepared to pay for it. How many offers have you had? How long has the house been up for sale and how many viewings have you had over the period?

[sam2cats]

It's hard without knowing what the Market is like in your area, but I think 14 grand under is not bad in this climate. My parents have been trying to sell for about 5 months and the offers they have received have all been for 30 grand or more below the asking price, and their asking price is completely in line with house prices where they live. But if you aren't in a hurry and don't need to move you could wait......good luck!

[SolarPrestigeAGammon]

Take it - you don't know how long you are going to have to wait for the next offer to come in and by then prices will have fallen further.

[poppyandsneeze]

Take the offer, if you want to move. When we decide to move - we always accept an offer slightly under. Normally £10-£20,000 under the asking price. We always offer under on the property that we buy. If they have nothing to sell and have an offer from the mortgage company,then accept. We normally agree to get out a.s.a.p. and go into rented or family for a few months and then buy as it puts us in a good position to lower the price on the next property. It really depends on how much you want to move.

Good luck

[cherrysodalover]

Prices will come down more so I would take it.people are automatically knocking 10 per % off asking price as a minimum.

[patchesmcp]

I'm in the minority here but I'd not take it. What do you lose if you reject it? Surely the worst case scenario is that they won't up it. If that is the case you can then accept.

We did that when we sold our last house and we got an extra few grand out of it.

[iwanttomarryjimsturgess]

depends on the asking price. if £1 million then 14k less is not so bad, if selling for £50k then it's a huge hit

[Slightlyreluctantexpat]

Yep, we really cannot answer this one OP without knowing what your asking price is. Makes such a difference, as Iwanttomarry says.

[Towndon]

Yes, probably accept. If house prices go up, then so will the price of anywhere you want to move to.