Is this offer offensive

[natashaaaaa]

About to put an offer on a house.

Very very dated 70s 3 bed semi but good location in affluent market town.

Asking price is £330k

Would offering £258k be offensive? I've never done this before so AIBU going in at this price? Been on the market a month with no offers.

Any advice would be super helpful on how punchy you can go on asking prices.

Personally I think that’s far too low of an offer... especially if it’s only been on the market for a month. I think they’d be looking closer to the 300k mark and you’d probably not even get a counter-offer going in that low.

No I'd start lower

You can but try, but I doubt they'd be desperate enough after one month.

Yep, I think that's offensive, but you can always ask. They can always tell you to do one!

I'd think you were taking the piss. Does it need extensive renovations or something? More than just redecorating?

How does it compare to similar in the area? It sounds low to me but agents get it wrong

Have you looked at similar properties that were sold recently in the area? I believe Zoopla lets you do that.

No I'd start lower

Lower than £258k?

Is £258k what you think this property is worth, OP? What have similar properties sold for?

With such a vastly reduced offer, you run the risk that the sellers will think you’re a cheeky piss-taker and tell the estate agent to have no further dealings with you.

I'd say that was too low.

Look at what's sold recently on the street. Work out what needs doing to get it to the same level.

But they don't have to accept.

And is it worth more to you because of street/area etc

Forgot to say, they have already moved out so no chain. I am renting so I have no chain either so hoping that also may sway something.

That's a very low offer, is there any reason why you think it's worth over 70k less than their asking price? I agree with the previous poster who said you're unlikely to get a counter offer.

I believe Zoopla lets you do that

So does Rightmove. You can often see what the same property previously sold for and when too.

It’s too low if you are serious. A month in this glacial property market isn’t long. Sellers will hope for an uptick of confidence in Jan.

£300k might make them think twice, if you are proceedable and they are keen to sell quickly. £285k is likely to get barely a glance at this stage, I’d wager.

When did house buying turn into The Fucking Apprentice?
You can’t game this shit - offer what you’d be happy to pay. It will either be accepted or rejected.

“Offensive” really?

@HoneysuckIejasmine yes it needs total structural redevelopment and remodelling downstairs with two steels. Quote for all the work is coming in at £60k hence this offer

Well I can’t blame you for having a go but It would be a straight no from me - no counter offer. I would figure you for a CF but I know that stupidly low offers are part of the process.

I'm sure it will be priced based on the work that needs doing

That price is very very low

Offensive is a factor though. Some sellers get really annoyed at low offers and refuse to deal with you, even if you offer higher later. I guess it’s a fear you’ll be a CF to deal with, or they feel the value of their home is insulted...

@natashaaaaa You haven’t addressed the question of what similar properties in the area have sold for recently - have you checked?

It depends what other properties in the area sell for and their condition for that pricing.

If other houses are selling for £270k and in good condition then £258 is ok. If they are selling in good condition for £350k then it’s a piss take

As long as you’re prepared to walk away if they refuse, because they would probably not engage with you in considering further offers I would guess.

Fourstars. The OP is offering £258 not £285.

Nothing ventured nothing gained. Id make the offer. You’ll need a lot of money to modernise it. If it’s runs down decor wise it may need work on the roof, rewiring, modern economical heating system installed. All this could run into thousands. I’d go for it.

@Butchyrestingface last property nearby sold was last year for £290k but was redeveloped and nothing needed doing. One before that was £265k two years ago I'm lovable condition.