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How much below asking price is too cheeky

(17 Posts)
shalalala Wed 12-Oct-16 21:07:31

We've seen a house we like (£750k). Been on the market for 3 months. Is it laughable to offer £700k? We have a buyer for ours and the vendors of the new house found a property so probably quite keen to move. House has been reduced too

Northernlurker Wed 12-Oct-16 21:11:53

What was the price before reduction and when was it reduced? If recent I think you won't get anywhere but if it's been on a few weeks at the lower price then your offer is a good starting point.

shalalala Wed 12-Oct-16 21:31:37

It was £775k I think but not entirely sure. Was reduced last week. I'm dreaming aren't I to get my hopes up they'd accept £700k (our max). sad

Sleepinghooty Wed 12-Oct-16 21:34:20

I don't see any harm in offering. You never know and I don't think it is completely stupid

oleoleoleole Wed 12-Oct-16 21:56:46

Check what they paid for it on rightmove, that mi

oleoleoleole Wed 12-Oct-16 21:57:19

Sorry.. That might help,with what you offer!

OMGtwins Wed 12-Oct-16 22:03:19

Check mouseprice and zoopla too, look at prices on the street generallyand have a Google of the address to find any historical information. 10% under original asking is ok IMO, unless market is particularly fast moving.

fluffypacman Wed 12-Oct-16 22:04:10

If you're not embarrassed by your offer you've offered too much. As £700,000 is your max I'd offer under that as no one tends to accept the first offer then go to your max. If they refuse, leave the offer on the table and walk away. We did this and 2 weeks later the vendor came back. It's only just over 10% off asking price which is reasonable. It's roughly what we achieved. If you don't ask you don't get. If you don't make an offer you're not going to get the house either so you're no worse off. Go for it and good luck!

PippaFawcett Wed 12-Oct-16 22:18:06

Houses over £600k are just not selling near us at the moment, so give it a go!

GETTINGLIKEMYMOTHER Thu 13-Oct-16 09:13:24

They can only say no - no harm in trying! First offer often likely to be turned down anyway.
Having said that, so much will depend on the state of the local market, how desperate the vendors are to sell, , how long it's been on the market, etc.

If a first offer is turned down, and if the place has been on the market quite a while, my instinct would be not to make a higher offer straight away, but let them stew a bit. Of course there is a risk of someone else jumping in, but it can be good not to seem over eager.

fuzzyduck1 Thu 13-Oct-16 09:57:38

We just bought a studio flat was up for £55k offered £45k finally settled ar £47k I know it's at the other end of the price range but it's always worth a try.

Offer £680k then it gives you a bit of room to up your offer.

mrsmortis Thu 13-Oct-16 10:12:56

We offered 230k on a house recently reduced to 250k from 300k. Settled on 240k in the end.

If you don't try you'll never know.

SheldonsSpot Thu 13-Oct-16 10:16:41

We offered 450k on an asking price of 550k.

They said no, we waited a week, estate agents got in touch asking if we would consider another offer. We told them we'd think about it and after another week offered 475k and made it clear that was our best and final offer. They accepted.

Shaded Thu 13-Oct-16 14:33:17

Shalala are you me in a parallel universe. Exact same circumstances.

Hope we are not going for the same house. Good luck

shalalala Thu 13-Oct-16 18:33:52

Oh dear shaded - where abouts are you?!

Shaded Fri 14-Oct-16 10:17:32

Shalala in north London. Don't worry we have decided not to proceed i.e. if it is the same property anyway.

shalalala Fri 14-Oct-16 20:10:08

Phew! We are in Surrey shaded

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