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Lowest offers you've made

(51 Posts)
Blushme Thu 26-Oct-17 09:39:07

Looking at a £450,000 house nice area, good decorative order. Would it be really cheeky to offer £425,000? What are the lowest and best offers that you have made when buying/or have accepted or your own properties?

BarchesterFlowers Thu 26-Oct-17 09:41:54

I have had minus 10% of asking price accepted and accepted minus 6% myself.

Am viewing something this weekend and planning on offering minus 7% if I like it.

SellMyFlat Thu 26-Oct-17 09:44:26

I might need some help with this. Do you think the % varies though depending on price of the house? So if something was only £250k for example, would £235k offer not be really cheeky even though that's only 6% also?

Notreallyarsed Thu 26-Oct-17 09:46:00

We offered £162k on a house that was up for £165k, I haven’t worked out percentages but they accepted happily.

BrandNewHouse Thu 26-Oct-17 09:48:39

Message withdrawn at poster's request.

BrandNewHouse Thu 26-Oct-17 09:49:31

Message withdrawn at poster's request.

Blushme Thu 26-Oct-17 09:50:14

Thanks barchester We've accepted a 3% minus on ours but it is of a lower value. Good luck with your viewing.
sellmyflat I think that the % amount is relative to the property value. Only in my opinion, but id like to know also!
The market seems to be slowing down in our area at the moment.

BarchesterFlowers Thu 26-Oct-17 09:50:23

Not at all. On a £425k house we negotiated 6% ish, so £25k off.

I am thinking of buying something to rent out. On at £215k and I will offer £200k to start with, limit of £206k. I will then spend £15k on it. Nice houses on the road sell for £250k.

Buying a house is a business transaction for me, very little emotion involved, but I realise that that isn’t the same for everyone.

BarchesterFlowers Thu 26-Oct-17 09:51:03

Sorry slow typing that was for SellMyFlat.

Blushme Thu 26-Oct-17 09:51:57

So interesting to hear what people offer and accepted! That's such a drop brandnewhouse how lucky was your friend!

Darkblueskies Thu 26-Oct-17 09:54:09

We offered 175 on a house that was on for 225. Feel sort of embarrassed about it now but it was all we had! They accepted it...

SummerKelly Thu 26-Oct-17 09:55:45

I started at £175k on a house originally on at £230k (I did base this on what else had gone on the street and also that it had been on the market for a while). We gradually over a week moved up to £210k on the basis that they included all curtains and white goods. You can start wherever you want though it might be useful to have some justification for why you think it’s worth that. This was about 7 years ago and things then were going for 92% on average of asking price.

Mytimenow Thu 26-Oct-17 09:58:13

Our current house was on for £250K we offered £210K they finally accepted at £217K, we've probably spent around £50-£60K modernising it though and hopefully worth £320K now, but it's our forever home so no plans to sell.

FoxSticks Thu 26-Oct-17 09:58:57

We offered £225 on a £250k house and the owner was so he insulted he refused to even hear another offer from us! We were gutted at the time, the first house we tried to buy but in the long run it probably worked out for the best.

TsunamiOfShit Thu 26-Oct-17 09:59:28

We offered 26% under asking price, got it for 20% under asking price. Needed a lot of work though.

Blushme Thu 26-Oct-17 10:07:06

That's what I worry foxsticks that I'll offend the seller! Estate agent wouldn't let us do our lowest offer on our current property as he said we would offend the seller.

TheNumberfaker Thu 26-Oct-17 10:08:42

Some EAs put houses on the market well over the amount they expect to get. So 450k, hoping to get offers over 400k.
We went in very low on all bids and eventually ended up paying 6% less than asking.

flyingpigsinclover Thu 26-Oct-17 10:09:01

We got offered 30k less for our house, we had to accept the offer but left nothing behind - we filled in the form saying that none of the kitchen appliances were included and so on. You get what you pay for....

MumOfTwoMasterOfNone Thu 26-Oct-17 10:12:50

My first offer on current house was nearly 8% below and it was accepted. Wish I’d gone lower.
My first house ended up in a bidding war and paid nearly 6% over asking.

They have an obligation to put any offer forward. Don’t worry about offending them, it’s not personal. It all depends on circumstance.

FoxSticks Thu 26-Oct-17 10:13:35

I think the guy we tried to buy from was very attached to it. He'd bought it in a state and done it up and it was beautifully done. We were young and had no real reason to offer low really, other than we were struggling to get on the ladder. I think he was a bit ott by saying that he wouldn't entertain any other offers from us, I haven't heard of anyone else experiencing something different to us. Don't forget though that the EA has a vested interest in keeping the price as high as they can.

emsyj37 Thu 26-Oct-17 10:14:37

I think there is no real rule of thumb to be honest. We have managed to get a lot off the house we're buying but the owner wanted a quick sale and already had a house she wanted to buy, so was fairly motivated. We offered our max budget and made it clear that was all we could afford.
I think you need to find out more about the seller's position. They may be in no hurry or they may need a certain amount to be able to move. I don't think 425k is an unreasonable first offer for a house on at 450k. It isn't insulting.

Thegirlisnotright Thu 26-Oct-17 10:14:42

Depends if you believe the estate agents valuations- they vary hugely round here. Also depends on how desperate the vendors are to sell.

FoxSticks Thu 26-Oct-17 10:14:47

Sorry that should have been I haven't heard anyone else experiencing similar to us.

Doublechocolatetiffin Thu 26-Oct-17 10:17:09

Our first house was on at £475k and we first offered £425k (2009 and the market was declining) They accepted £450k. It really does depend on the market where you are, but I don't think it sounds like a horribly cheeky offer to me!

bettybyebye Thu 26-Oct-17 10:22:07

Our house was on at £200k and our first offer was £170k - possibly v cheeky but it was back on the market after the sale falling through twice before. We knew the vendors had already had surveys etc done on the property they were buying so we're keen to move. They rejected the first offer and we finally settled on £185k which we were delighted with as we would have gone up to full asking

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