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WIBU to view a house 20k over our budget?

(30 Posts)
Mooey89 Sun 05-Mar-17 20:13:45

If it is perect for us, needs a little bit of (cosmetic) work, has been on the market since Nov and we are renting with no chain and mortgage in principle and able to work to their timescales??!

Our budget is maximum MAXIMUM of 15k under the asking price. And that would be really pushing. We were hoping to spend max of 205,000 and this is on for 225,000... we could really push ourselves to about 210,000 but would be a real stretch.

Is it totally pointless, I don't want to waste anyone's time and I don't want to fall in love with something I can't have!

MoreThanUs Sun 05-Mar-17 20:14:54

Definitely view it. You've got a lot going for you as a buyer and that's worth a lot to a seller.

mando12345 Sun 05-Mar-17 20:15:32

Tell the agent you can't afford asking, don't tell them exactly how much, and ask if it is worth you viewing.

LellyMcKelly Sun 05-Mar-17 20:16:56

There's no harm in going to look. If you like it, offer £200,000, if you have your mortgage in place and you're not in a chain make sure the vendor knows. That can be worth a lot.

BernieKosar Sun 05-Mar-17 20:17:44

Yanbu. Go for it. Don't ask the agent first though.

wowbutter Sun 05-Mar-17 20:19:06

I'm doing the exact same. Viewing a house 20k over my budget, if they accept the offer I'll be ecstatic, if not, well I've lost nothing.

JamesDelayneysTattoos Sun 05-Mar-17 20:21:30

We were offered £35k under our asking price last week. We've said no but we will go £20k under so definitely go and have a look.

Mooey89 Sun 05-Mar-17 20:23:45

james let's hope your house is the one I want! Haha.

I've emailed the agent to go and look. Fingers crossed.

FormerlyFrikadela01 Sun 05-Mar-17 20:23:49

My right move search criteria is for 3 beds up to 180k despite only really being able to afford max 165k. You have nothing to lose in my eyes.

EweAreHere Sun 05-Mar-17 20:26:42

Go and see it.

The worst thing that can happen is they won't accept your Offer, and you look elsewhere.

Good luck!

CreepyPasta Sun 05-Mar-17 20:28:40

We were cheeky and put in an offer £30k under the asking price and it was accepted smile you've nothing to lose, go for it!

razmataz Sun 05-Mar-17 20:34:47

Go for it. Most houses are priced to allow some room for negotiation on asking price - granted it depends on the market but you have absolutely nothing to lose.

If it's been on the market since November then the odds are good that they'll be open to some negotiation, and it would suggest that either the market is slow around you or that it's overpriced. Both of those put you in a strong position so I'd offer 200k or 205k and even if they don't accept immediately, if you leave your offer on the table they might well change their minds if they don't get a better offer soon (unlikely if it's been on the market for a while now).

ginorwine Sun 05-Mar-17 20:43:49

We accepted less than asking price and the house we were going to buy was on at 250 k - they accepted 235 k
I think it depends on were you live but around here most agents add something on the price expecting to be knocked down
Most people on my experience accept offers except for a minority .

Moanyoldcow Sun 05-Mar-17 20:57:38

I accepted £15k under for my flat and the vendors for the house we bought accepted £15k under.

Deffo worth looking at.

BumWad Sun 05-Mar-17 21:00:00

Definitely go and see it!

Astro55 Sun 05-Mar-17 21:04:10

I've brought three houses at least £20 under - current one we knocked off £35 after the sellers did a deal on theirs -

No harm in asking - offer 200 then 205 - say it's final

They may want to move quickly or solowly - this is where you make your offer unique -

Yes we can move quickly - but no fish as we're renting!

Gobbolinocat Sun 05-Mar-17 21:24:14

goodness yes!!!

all sorts of things happen in sales, maybe they wont accept low offer but then keep get let down and think - lets go for it they are chain free, without a doubt - go and see it - put offer out there with your credentials, I was always told prices are inflated by 10 /20 thou anyway to give negotiation room. good luck

altiara Sun 05-Mar-17 21:35:57

Yes, it's not unreasonable but you don't know if they absolutely need that price or if they are happy to accept 25k under if it's the right buyer. You don't know what the estate agent will be saying to either party.
We once had an offer accepted at 50k under.

donquixotedelamancha Sun 05-Mar-17 22:14:56

My current house was on at offers over £235,000 (about what it was worth, maybe a little undervalued). It had been on sale at a lot more. I got it for £210,000.

Be up front. Offer what you can pay. Don't stretch too far. You never know.

Backt0Black Sun 05-Mar-17 22:19:30

View it. Ours was on at £325k, secured at £240k.

Just make your offer, make it clear it is final and subject to their removing it from the market, and that you are in a position to move quickly.

Foxyloxy1plus1 Sun 05-Mar-17 22:21:09

A house is only worth what someone will pay for it. If no one will pay £225K and it looks that way if it's been on the market for a few months, then go for it. How much would you stretch to. If your max is £210K start at £210K and then you can go up. That's what Phil and Kirsty would do.

MsAdorabelleDearheartVonLipwig Sun 05-Mar-17 22:25:06

Offers are typically 10% under the asking price and houses are usually overpriced to reflect this. It's a slightly bonkers way of doing things but it's generally accepted that you will offer less.

RainbowChasing Sun 05-Mar-17 22:26:46

Yes definitely view it. We put our house on the market last November, found a house we wanted immediately and put an offer in which was accepted. Our house was still on the market and we had a lot of viewings but no offers. We just wanted rid of it and didn't want to lose the other house so we dropped the price of ours £20k and an offer was made about 20 minutes later. You don't know the seller's circumstances and you've got nothing to lose from viewing it.

Trumpssyrup Sun 05-Mar-17 22:30:16

No way! Go and see it! Our house was on for 220 and I was no way can we afford! But after we saw it the estate agent called dh and said they've dropped it to 199! Okay this was 10 years ago but yes! Go for it!

HeadDreamer Sun 05-Mar-17 22:34:18

It depends on where you live. If it is on since November then the market is slow and there will be room for negotiation. Round where we are, at least a couple of years ago, we sold at asking price within a week. And we viewed a property that had an offer at asking price at first weekend, and agent told us only offers above asking would be considered.

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