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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To think this is a cheeky offer?

132 replies

cakesandphotos · 06/08/2016 16:44

My husband and I went to see a house which is on the market for £140k. My husband wants to offer £110k because it's been on the market about a year and the guy is keen to sell. I think this is too low and a bit cheeky. I think starting at £120k is more realistic. AIBU or is he?

OP posts:
Original poster
cakesandphotos · 06/08/2016 17:29

Thanks for all the advice! The house is in a tiny village in rural Northumberland so is immaculate, there's no way we could get another house in that condition for our budget. That said, we can only go up to £130k so if he won't budge, we'll have to leave it. My DH is thrilled that I've been out voted on mumsnet! Grin

OP posts:
SquidgyRedBall · 06/08/2016 17:31

It's 20% below the asking price. If it's been on a year they may already have had offers at this price or higher.

It all depends on the market where you live.

My motto is - you don't ask, you don't get

MephistoMarley · 06/08/2016 17:32

This attitude is why the country is going to the dogs...

TF does that mean? House prices are due a fall and if nobody wants to pay £140k for this house then it's not worth £140k. If you want to pay £110k and nobody else wants it then it's worth £110k. House prices are arbitrary, spurious and mostly made up of imaginary wealth so afaic nothing is cheeky.

Puzzledandpissedoff · 06/08/2016 17:37

As someone once said: if you're not embarrassed by your first offer then it's too high Wink

I've also just bought a house after offering £30k less, though admittedly that was £240k to start with. However this had also been for sale for a while and they snapped my hand off

Good luck Flowers

carabos · 06/08/2016 17:40

We've just had our very cheeky opening offer accepted- go for it.

CodyKing · 06/08/2016 17:41

Come back and tell us what they say!

maddiemookins16mum · 06/08/2016 17:41

Houses are always priced at the upper amount expected aren't they? I sold a house for 225k, the asking price, but the first offer made by someone else was 210 and I was a bit 😕😕😕 but depending how things had gone I might have taken that eventually.

LouisTherouxsGlasses · 06/08/2016 17:43

I would try 110 first, and justify it with some bullshit reason ('the state of the radiators/drive/plumbing means we couldn't possibly offer the asking price'...). Worst that can happen is getting that offer turned down.

Mrscaindingle · 06/08/2016 17:51

Hmm I am on the other side of the coin, first viewing and just had an offer today for my house at £30K under the valuation. It is very cheeky and they can get tae fuck tbh, if that is the only offer I get then I'll just stay put. And I won't be "meeting in the middle". I might go slightly under but that much just is taking the piss, my estate agent told them it was unacceptable before she even contacted me.

I thought they were a nice young couple and I knew they were going to put in an offer, in my head I had been planning on throwing extras in too, not now though.

SimplyNigella · 06/08/2016 17:52

If you offer £120k and he bites your hand off you will be kicking yourself and wondering whether he would have accepted £110k. Go for the lower offer, it's easier to increase than to decrease.

Mrscaindingle · 06/08/2016 17:53

Mind you I am in Scotland and houses here are deliberately priced under
( offers over system) to get people through the door so maybe it's not the same as in England.

Catanddogmake6 · 06/08/2016 18:02

mrscaindingle, the English system is different. Usually a higher figure is suggested and then people make offers below. Always an exception though eg two very keen bidders or estate agent putting a low price to drum up business. Given this house hasn't sold I don't think it's the case here though.

ilongforlustre · 06/08/2016 18:02

I'd go for it. Houses here are ludicrously overpriced. I looked at one recently and they are asking 30K more than any house in that area has ever sold for... and they are not new builds or individual either. I've also seen houses that to my mind were easily 100K overpriced with everything and I mean everything needing updating, possibly ripping out! It's not just buyers who can be cheeky.

They can only say no...

CigarsofthePharoahs · 06/08/2016 18:11

Always go in cheeky. First offers are fairly universally rejected unless they're above the asking price.
When we moved the first offer on our old house was bloody cheeky - I did actually say that to the estate agent and he did agree. Someone else offered, we said it was too low, they came back with a higher number and we compromised and accepted.
The house we bought I put in a very low offer as it was overpriced and in poor condition. We did up it a little and they ummed and ahhed, but they'd been on the market for 18 months and we were only the 2nd offer they'd had and we were ready to go having agreed the offer on our old house. We got a good deal.
Put the offer in and prepare to negotiate. You never know....

Smurfnoff · 06/08/2016 18:39

If you offer £110k and they say no, you can up it to £120k. If you offer £120k and they say yes, you'll be wondering how far over the odds you paid.

witsender · 06/08/2016 19:41

Ours was on at 265, went down to 240. We offered 207 and decided on 217.

Give it a try!

TestingTestingWonTooFree · 06/08/2016 19:56

If he really wanted to sell he'd drop the price. I'd go with 110.

Original poster
cakesandphotos · 07/08/2016 08:19

Thanks everyone! I'll let you know what happens Smile

OP posts:
MadameJosephine · 07/08/2016 08:48

Watching with interest, I'm interested in a property that is on at 140k but has been on the market for nearly a year and is now sitting empty. I think it's overpriced but not sure how much to offer. I think I would be embarrassed to offer 110 but I guess Phil and Kirsty know what they are talking about. As my nana used to say, shy bairns get nowt!

CodyKing · 07/08/2016 09:02

If the house is empty it's costing them to keep it - insurance tax etc - plus having to check on it, usually part of the insurance terms.

Family might live away or abroad.

Make that offer. Make sure you tell them your position - yes I have a mortgage, chain free what ever to make the offer more attractive

The selling period is nearly over as it goes quiet towards Christmas

Try it! Then leave it a week and put in another slightly higher offer. 113/117

You'll be surprised

FairyDogMother11 · 07/08/2016 09:30

I wanted to be cheeky with our house but my partner was adamant he didn't want to lose it; and for the price to be fair we hadn't found anything else for the size or in the location we wanted exactly. So we did pay less than the asking price, but the way they snapped our hands off when we made our offer, I am sad to say I think we probably could have saved ourselves another £5000/£8000. We love it anyway and it was well within our budget so it didn't matter quite as much. But we'll always wonder! Grin

Original poster
cakesandphotos · 07/08/2016 20:51

My husband is away on business until tomorrow night and apparently it's bad form to put an offer on the house while he's down country so I have to put on my patient pants and wait until Tuesday!

OP posts:
TowerRavenSeven · 07/08/2016 20:55

Try it. We asked way less and the owners came down a lot. We could have probably have gotten even less but we really wanted the house but accepted their counter offer. Our real estate woman was horrified though - because of course her commission would be less. Boo Hoo! Go for it!

ItsaTenfromDen · 07/08/2016 21:24

My hubby also says 'if you don;t ask you don't get'

nothing ventured...

HarryPottersMagicWand · 07/08/2016 21:44

Why can't you put the offer in tomorrow? It's only a phone call.