Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Is this offer offensive

152 replies

natashaaaaa · 20/12/2019 22:16

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.

OP posts:
LucyLocketss · 20/12/2019 22:32

You can put forward any offer you like. They'll reject this offer - almost guaranteed.

Original poster
natashaaaaa · 20/12/2019 22:32

*liveable condition

OP posts:
Africa2go · 20/12/2019 22:32

What are sold prices like for houses on the same road? Why is it structurally unsound? Because of changes you want to make or because its falling down?

Otherwise, yep its offensive and I'd discount you as a buyer, even if you offered more later. I'd think you were playing games and would haggle after the survey / pull out at last minute etc

FraglesRock · 20/12/2019 22:33

The is present the facts to the estate agent

We're really interested and have no chain with a mortgage offer in place.
No '26' an identical building sold for £x this year. Looking at the difference in condition we believe the property is overpriced as there's £x of work to be done and believe an offer of £x is a fair market price.

steppemum · 20/12/2019 22:34

YOU think it needs remodelling with steels costing 60K. But that is your preference to get the house you want.

if it is structurally sound and needs redecorating and eg new bathroom and kitchen, then you can only offer based on the cost of the redecorating and new bathroom/kitchen. Not on the extensive remodelling that you want.

the cost of thew house is not based on the asking price. It is based on what other similar houses in the street are selling for.

justcly · 20/12/2019 22:35

OP, how do you know it needs all this work? Has a structural survey been done? If similar properties in the area usually go for c. £400,000 the asking price may already reflect the fact that work needs doing. I would talk to the agent ahead of making an offer and find out as much as you can.

Pippa12 · 20/12/2019 22:37

You have to be able to really justify to them why youve decided it’s only worth such a low offer:

Surrounding properties
Works required with guesstimate of coatings
Upcoming planning permissions etc

Not that it’s all you’ve got/can afford or worse willing to pay!? One mans castle and all that!

Original poster
natashaaaaa · 20/12/2019 22:39

@FraglesRock great advice. Will let you know how I get on. Thanks everyone for this excellent perspective

OP posts:
Anniecott · 20/12/2019 22:40

I have just sold my mums house for £90'000, under the sale price as it needed complete rewiring, had extensive damp, structural damage and more, plus we needed a quick sale, it's always worth a punt.
Good luck.

MaggieFS · 20/12/2019 22:41

Does it really need the steels and remodelling or that's just what you'd like to do to it, but someone of a different opinion could make it liveable with just cosmetic changes?

IMHO you can start low, but that sounds crazily low. Like you're chancing your luck but not actually going to engage in a serious negotiation. Nothing to stop you trying though.

1Morewineplease · 20/12/2019 22:41

Just put in the offer.
Personally I think it’s a tad too low. They’ve already moved out and may well wait for the highest offer. As I would, if I didn’t need to sell.
It really depends on how much you want this particular house.

oobieloo · 20/12/2019 22:42

I don't think yabu considering what others have sold for and the condition but I'm not sure it's worth it. It sounds like they're asking that high because they know they're going to get beaten down in price and they don't want it to be down that much. You can offer but don't feel like you have to offer so much if it genuinely isn't worth it. Remember if you need a mortgage, the mortgage company will only mortgage for what they think it's worth not for what the vendors want for it.

queenqueenqueen · 20/12/2019 22:45

I don't think a quick sale is worth that much. Bit too cheeky I think

Sparklesocks · 20/12/2019 22:47

Personally I tend to stick to 10-15% below, but if you’re willing to take a punt!

RB68 · 20/12/2019 22:49

It may be an estate sale from the state of the place - 70s decor and needing refurb often are which means there is sometimes more leeway.

I think given what you are saying other properties have gone for and it being a settled if not declining market in most places its not unreasonable if a bit cheeky/ballsy.

SpongeBobJudgeyPants · 20/12/2019 22:50

You've knocked about 22% off the asking price. I think that offer is a bit low TBH.

helpfulperson · 20/12/2019 22:50

No harm offering that. You may get lucky or told to do one. Either way no lose.

Itsigginingtolookalotlikexmas · 20/12/2019 22:52

If someone made a joke offer, if I had anyone else at all I would not sell to them when they upped the offer. It would just annoy me too much.

CatAndHisKit · 20/12/2019 22:54

are you particularly keen on it for a reason? sounds like too much to take on AND too exensive!p

Soontobe60 · 20/12/2019 23:04

What you Want to do to it, and what it actually Needs doing are two very different things.
If a house is worth £300k as it stands, but you'd like to do £50k of work in it, it doesn't make it worth only £250k. The work done on it might make it worth £350 once it's completed though.

Ocomeocomeimaginaryfleas · 20/12/2019 23:05

Whether or not it offends depends on the seller's situation and how emotionally invested they are. If it's their much loved home now being reluctantly vacated in favour of a more manageable property, then yes, they will be offended and may not want to sell to you at any price. If it's an executor's sale then they may be disappointed but still open to negotiation.

I must admit I'd wince at having to put forward such a low offer. I can't see the EA doing it with any enthusiasm.

Puzzledandpissedoff · 20/12/2019 23:06

last property nearby sold was last year for £290k

If it was similar in size and type then the current one's clearly massively overpriced - in which case I wouldn't hesitate to make your offer and see what happens

After all the worst they can say is no

BellatrixLestat · 20/12/2019 23:07

So you really care if it's offensive? You don't know them so why bother about what they think of your offer?

Of course it may be much lower than they're expecting and reject it but I seriously wouldn't worry about offending anybody.

chillykiwi · 20/12/2019 23:13

I'd turn you down and with no counter offer either. The only time I've seen houses go for prices that much lower than they are/were worth is with the 'as is where is' system in NZ, I don't think the UK has an equivalent though.

Khione · 20/12/2019 23:14

I was selling last year. Someone offered 30k below asking. I laughed. Even if they were offering me physical currency in my hand it was just totally out of the ballpark.

2 weeks later I sold for asking, took 2 month to go through but was still the better deal for me.

Laughable rather than insulting in my position - and I wouldn't consider you later if you upped it either as I would suspect that you would look for reasons to drop it later

Please create an account

To comment on this thread you need to create a Mumsnet account.

Join Mumsnet Log In

This thread is closed and is no longer accepting replies. Click here to start a new thread.