Active discussions

Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask how much you offered under on a house?

81 replies

Auramigraine · 15/05/2019 20:26

Hi all

Went viewing a house today, it’s perfect location, great style house but it is a bit small and a lot more work needs doing than earlier anticipated (new kitchen) etc..... the asking price is £135k which is excessive in the area for the type of property it is. One on the same street sold for £130, but it has its own drive and a lot more modern than the one we are going for (ours has a shared drive) estate agent seemed to agree it wasn’t worth the actual asking price and seemed happy for us to put a lower offer in, but my question is how much is too much for them to think we’re taking the p*ss? I’m thinking roughly 10k/ 10% under asking price but wondering what reaction I may get to that so thought I would ask first, how much did you manage to get off a property?

First time buyer so new to all this!!

Thanks x

OP posts:
AliceRR · 15/05/2019 20:31

Offer what you think it’s worth or what you’re willing to pay and can afford, maybe £5-10k less if you want to try your luck and be a bit cheeky. They’re isn’t a magic %

SlipperyLizard · 15/05/2019 20:31

Our was on for offers over 300k, but it was in awful condition (heavy smokers and dogs). We offered 260k, they said no. We settled on 265k.

They say if you’re not slightly embarrassed making the first offer then you’re offering too much.

bibbitybobbityyhat · 15/05/2019 20:32

House was on for £370,000. Offered £350,000. Got it for £360,000. Text book!

BarrenFieldofFucks · 15/05/2019 20:33

Current house was on at £265k, overpriced. Came down to £240k from memory, we still felt over priced given condition. Went in at £207k, paid £217k in the end.

Previous house on at £195k and paid £175k

AliceRR · 15/05/2019 20:34

Our house was in for OIEO £300k. We offered £280K. We got it for £290K but we were in a position to move quickly and that worked for us

FunkySnidge · 15/05/2019 20:34

We offered 10% under and it was accepted

CFAlert · 15/05/2019 20:34

The house I bought was on at OIEO £295K

I offered £285K and had it accepted straight away.

Wish I'd have gone lower Angry

IAmTheChosenOne · 15/05/2019 20:34

Houses expect a bit of haggle. The EA will know what they will accept. £135, I'd offer 125 and see what happens. But you also need a mate to view and under cut that offer to make yours look better

AndOutComeTheBoobs · 15/05/2019 20:35

We have just bought a house.

We offered 20k less than they wanted.

We ended up paying 5k more than they asked.

We are clearly absolutely shit at this game.
However, it was still a really low price so fuck it.

DrDreReturns · 15/05/2019 20:35

We offered the asking price as we really wanted the house. Don't regret it.

IAmTheChosenOne · 15/05/2019 20:35

We ended up paying 5k more than they asked.

just how !!! ???

PavlovaFaith · 15/05/2019 20:38

@AndOutComeTheBoobs go on...?

goldeline · 15/05/2019 20:38

The house we bought was offers over 225 (Scotland). We had an offer rejected at 220, then accepted at 225 on the basis that they wouldn't go to closing and accept offers from anyone else. I think it was undervalued though, similar houses on the same street went for 230-250 within months of ours. Think they wanted a quick sale which worked to our advantage.

Cottipus · 15/05/2019 20:39

Ours was originally listed for £295k dropped to £275k and we offered £250k. However this was back in 2012 before stamp duty tiers were reformed and there was a big hike at £250k+.

After a week of thinking about it the vendors accepted.

Your thinking of £10k-£13k off asking looks about right from what you’ve said.

MrTumbleTumble · 15/05/2019 20:40

We moved at the end of last year. The house we sold was put up for £195k, ended up in a bidding war and went for £20K over asking.

We bought at £5k under asking, but there was substantial work that needed doing, and they split the costs with us on that.

MaybeitsMaybelline · 15/05/2019 20:42

DS recently, last week, paid 105, the listed price was 110,000 and it last sold in 2017 for 102. Seemed fair, and the seller put a new flat room off the extension in the meantime,

EnglishRose13 · 15/05/2019 20:42

On for 220k, offered 200k which was rejected, then settled on 205k.

Tixytrick · 15/05/2019 20:43

I’ve usually got my houses throughout life for 10% under asking. I’d start at £120 and take it from there

soulrider · 15/05/2019 20:44

Offer accepted at 101k against asking price of 115k

Pipandmum · 15/05/2019 20:44

I do this for a living and I’d probably offer £120k from what you said. £100k and they would be insulted, but £120 reasonable. I’d aim to settle at £125 max. It’s a buyers market in many areas.

LokihasafryingPan · 15/05/2019 20:56

Ours was up at £285, down from £295, we knew they wanted a quick sale and house needed work so offered £257 settled at £265.

In your position I would offer £120 and look to meet at £125

Soontobe60 · 15/05/2019 20:58

Ours was on for 150, reduced to 139 after 6 minutes this in the market, we offered 130 and paid 134. The vendor had bought it when prices were high 7 years previously for 145, so made a big loss considering he'd spent lots in it.

The house we sold was in for 160 and we accepted 155

AlaskanOilBaron · 15/05/2019 21:02

We've always made cheeky offers, like 15% under (or more), with success.

It's a soft market, so no harm trying.

managedmis · 15/05/2019 21:03

42k less than asking price. We still paid too much!

Rhubardandcustard · 15/05/2019 21:08

40k under the asking price. Initially was a no but 3 weeks later they came back and asked if they could accept. Was estate sale and empty and I was not in a chain which helped.