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What is a 'cheeky offer?'

(15 Posts)
HaveAWeeNap Mon 27-Mar-17 22:45:30

If a property is on at 'offers over' then is it rude / cheeky to go below that figure?
Was on briefly with another agent at 'offers over' too, but £10k less.
Should we offer over the current price or in between the current price and the offers over price it was on at last week?

heffalumpshavewrinkles Mon 27-Mar-17 23:19:14

I wonder why they increased the asking price if they didn't sell with the first agent grin. I have offered below offers over before. Not accepted but one time the agent did say they would likely accept a bit below (but still higher than it was worth to me due to all the work. Took another / years to sell at their offers over price)

FormerlyFrikadela01 Mon 27-Mar-17 23:19:19

I would always offer lower. Even if it says offers over. Mainly because my right move obsession has shown me that houses in my area marketed with offers over tend to stick around for a while because they are mostly overpriced for the area. But that's just round here, i guess it will be different in other areas.

GardenGeek Mon 27-Mar-17 23:29:52

Sorry to nustle in on your thread but wanted to post my own question but didn't want to make a thread in case vendor is a MNer... so hope you don't mind OP.

We had an asking price offer rejected on a house last week which was 'considerably higher' as they went with a lower cash offer. Cash buyer has now pulled out but we have already 'lost' the house emotionally and are now not at all invested in the way we were IYSWIM, but would still be happy with it at the right price.

Would we really offend the buyer to put in 140 instead of original 160; or get a black mark against our name from EA for reducing offer?

Personally I think its worth 130 as condition is awful but DP quite likes it so thats why we went higher originally - though am now worried lender would value it lower than original 160 (due to multiple drop outs I think there is something we don't know on survey) and reject our mortgage, hence now lower offer.

Is their any etiquette rules for this?

HaveAWeeNap Mon 27-Mar-17 23:35:33

Muscle away Gardengeek!

It's been on since before Christmas at £115k. Reduced to £110k (offers over)

Was on really briefly last week / week before at offers over £100k and then taken off with that estate agent.

So, what we thinking? Go in at £104,500?

HaveAWeeNap Mon 27-Mar-17 23:36:27

Sold for £110k two years ago.

GardenGeek Mon 27-Mar-17 23:43:00

Thanks OP, I am being cheeky myself nudging in grin

One thing I would be concerned about is why are they so keen to leave, especially after 2 years at near to price they bought at.

Maybe the possibility of shit neighbours? I always think quick moves without people doing up to make cash is a huge indication of shit neighbours. Unless you can see new baby cot when you went to view or obviously overcrowded house (like gran moved back or something).

HaveAWeeNap Tue 28-Mar-17 00:10:07

They've split up.

caroldecker Tue 28-Mar-17 00:14:55

If you are not embarrassed by first offer then you went too high. There is no etiquette to offers or black marks.
EA only care if you pull out, lie about finance or mess people around. No problem with a low offer, then raise or walk away.

GardenGeek Tue 28-Mar-17 00:27:45

Oh no OP! seems like a bargain then grin

Thanks Carol, I will tell DP that too, its a really good saying.

I was embarrassed by first offer, but for the opposite reason - because I thought we were being ripped off blush

Note3 Tue 28-Mar-17 07:06:50

For original OP - 10% and under is not considered cheeky - although be warned sellers often have their heart set on asking price or close to it and often need to be on market a long time before they're willing to reduce by a decent amount. They may have put it at offers over £10k more than they were asking with other agent because they now know people will offer less and so when someone now offers say 5k under current min price they're still 5k over their original min price.

It's psychological all round as buyer feels they got a deal and seller automatically gets a more surreptitious deal.

Green- I was initially going to say offer 140k for sure. Then read your update and I personally would not proceed with that house. You already feel you're paying over its worth at 140, then with others pulling out and like you say selling without much of a profit and shortly after moving...well all alarm bells to me. There's either something survey wise or something search/dispute wise in my book. Obviously there's a chance all fine and it's just the seller's bad luck but I would in no way risk it.

HaveAWeeNap Tue 28-Mar-17 10:46:10

Thank you. Think I will offer £105 to start.

MammyNeedsASpaDay Tue 28-Mar-17 17:17:41

I think offers over helps the estate agents get people through the doors. We had a flat on for offers over 59,950.....we had one offer at 52 then accepted 54. It's only worth what someone is willing to pay, but it was hard for us as it was a lovely flat, but only 1 bed and I was pregnant-they knew we were desperate!

Luckily our next property we were in a good position. I'd guess we won't be able to lose out but we shall see!

What have you got to lose by offering less? They can only say no.

m0therofdragons Tue 28-Mar-17 21:56:03

My dm offered considerably less on a property as it needed work (didn't have central heating etc). It was turned down but dm wasn't in a big rush so just keeping an eye out. She also had nothing to sell as she'd moved area. 2 months on and out of the blue the agent called offering it at the price they'd offered as owner had found what she wanted and didn't want to lose out. You have to feel comfortable you're paying what it's worth. An asking price is only an asking price and a house is only worth what others will pay.

HaveAWeeNap Wed 29-Mar-17 23:53:28

Thanks for all the great advice. Going to hold tight and not rush in.
When do offer, it will be a cheeky one.
Cheers all.

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