To ask how much you offered under on a house?

[Auramigraine]

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

I'd say between 5 and 10k less than asking price is fine.
Ours was 3 years old and still pretty much in new condition when we bought it, it was up for £145k, we offered £140k, paid £142,500.

I worked for an EA. f it's sat there a while they'll realise it's not going to go for the same as the pristine £130K one (and a good agent will gently point it out to them). But if they've never moved before & don't twig to that & the agent is not the assertive type who will say to them the kitchen needs a refit, you're stuffed & it will take them at least 6months or longer to realise. I'd go in £10k under & ask EA to specify your offer reflects the work needed.

Ours was offers in region of £105k, in 2015. We offered £90k - it was vacant, had been on the market a year, had some decorative decisions that probably limited appeal... and I wasn’t going to tell them, but they’d put the wrong postcode on rightmove so it wouldn’t show up in area searches.

They countered with £96. We could have haggled further but we thought that was ok. We’ve spent around £15k to date I estimate doing updates and delayed maintenance. House down the road in slightly better condition (though not much) sold for £150k two years later.

I always feel really pleased with what we got the house for!

Mine was on for £127K a year ago. I offered £122K and they came back with £125, which I accepted because I was eager.

I am a haggler! I always think your first offer should be so low it’s laughed out of there (unless you’re in a very fast paced seller’s market - which we’re currently not). As an example my current house was on for £550k (worth that by all accounts) and we paid £450k as I knew they wanted a quick sale.

We offered asking price of 136 as they had a couple of offers already. The ea came back and said someone had gone 4 thousand above but if we matched it we were in a better position as we had no chain. Thankfully there wasn't too much to be done, cosmetic work mostly.