House one. Offer cheeky or not?

[Snorkers]

Our buyer paying cash with nothing to sell, us cash buyers no mortgage, offering 15% below on a property costing £442k in the home counties. It's been for sale for over two months, no offers to date. It needs work, internal reconfiguration, modernising and decorating. The owner is now in a nursing home and the relatives are handling the sale.
I'd like to offer 15% below and agree at around 8-10% below.
Aibu?

Sorry. House is on at 432

Well it sounds like it's not worth what it's listed at in the current market if on for two months and nothing has happened, so I would give it a go.

Why not. I’d always under offer tbh unless the house is gonna get snapped up! We offered 10% under with ours to cheekily open negotiations and were shocked when they accepted it!

If you are relying on the sale of your property to make the purchase then you're not a cash buyer.

Well you can offer what you like but they'll decide what they agree on, not you

Unless they’re very motivated to move they’re unlikely to even consider and it may well sour the negotiating process. I’d offer £400k personally, if you think the house is worth it.

It’s low but not insultingly so.
People market their house for what they think it’s worth and they only accept what they deem reasonable. A house can be advertised £50k over what it should but that doesn’t mean the sellers will accept less. Buyers always seem to think they’re in the driving seat but most of the time that’s not the case

I used to be an estate agent.

I would always recommend to buyers to offer their lowest at first. They can only say no. It can’t really spur the relationship unless your doing it without an estate agent.

Just make the offer, they can turn it down or negotiate. No need for anyone to be getting insulted, it's not personal. Good advice like this year's ago got us our first home at a significant discount. The vendor accepted the low offer, turns out they needed to sell. Equally they could have declined and we'd have negotiated.

It depends do you think the house is overpriced? You can offer what you like just don’t be surprised if the sellers don’t accept or if someone else offers and gets the house.

It’s only been on the market for two months which given we’re just coming out of lockdown means it probably isn’t a true indication of real interest.

2 months? Most of that was lockdown!
Problem is 15 per cent sounds ok until you express it as 65000 quid. They won't be in a hurry to lose that. Nursing home fees will wait until it's sold. But good luck.

You’re not cash buyers. However, if it’s been for sale for a while and you have good reason to think it’s over priced then I don’t see why not. Worse case scenario they say no and you can up the offer. Realistically though, they are probably unlikely to accept anything that doesn’t start with a 4 but you don’t know if you don’t try. Good luck.