o.i.r.o?

[fuctifino]

If a house is advertised with offers in the region of, how much below the asking price would you offer?
My dh is thinking of 5% lower.
Reasonable or not?

[PigletJohn]

you can give it a try.

I did OIRO with a larger house in an area where they did not come up often, so we didn't know what it would fetch. There was a lot of interest and we eventually went to sealed bids and it went for 30% more than initial estimate.

[fuctifino]

Wow, that was a good result for you piglet.

House has been on since Sept 2014, they've already dropped £75k. My dh's offer, if accepted, would bring it to £100k below original asking price.
Worth a punt I guess, they can only say no I suppose.

[wowfudge]

We had a house on the market for OIRO £5k less than the house next door which was on for a straight asking price, around the ceiling for the street. This was a strategy in order to differentiate the houses and because of the pricing structure on Rightmove.

We accepted an offer of just shy of the other house's asking price. That house is still on the market. We wouldn't have accepted the base figure - but the house was considerably cheaper than the one you're looking at.

Are you prepared to go up to their asking price? Sounds as though they want to invite offers if they've already dropped the price by so much.