Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Flip

1 2 3

Original poster

To offer significantly less than asking price

56 replies

gingerlace · 12/10/2020 14:24

It it completely unacceptable to offer 30,000 less than the advertised price on a house?

Found a house i love in an area I love only issue is that it's owned by an elderly couple and so therefor is extremely dated, whilst it's well kept and presented lovely, recently fitted kitchen etc it's just so dated that for us (or any family I would imagine) it would all need redoing regardless. The owners are so proud of their house that I didn't want to insult them with a low offer. Just had a call from the estate agents and they asked for feedback.. i said as above.. the agent said there have been no offers as everyone says the same.

It's been on the market 6 weeks and I find it hard to believe there have been no offers. Is 30,000 under too much?

OP posts:

VinylDetective · 12/10/2020 15:49

It feels like a piss take to me.

I renovated a three bed house for £29k. That included replacing all windows and exterior doors, new kitchen and bathroom, creating a utility, complete redecoration and new flooring throughout.

It doesn’t need new doors and just about everyone’s stairs creak!

IndecentFeminist · 12/10/2020 15:54

Well, the house isn't necessarily worth less because of stuff you want to do to it. Worth less to you, but not necessarily the market.

Within around 10 percent I'd say is a fair offer. But they won't necessarily be unreasonable to reject it.

Trousersareoverrated · 12/10/2020 15:57

Offer it. They can always reject- if there are no other offers I suspect they will be advised to accept. Offer a little less than you are prepared to go and then when they reject you can up the offer by a few K.

TeaLibrary · 12/10/2020 16:00

You could make the offer. If its been on the market for a while at 300k with no offers then you might get lucky. I would say though that it doesn't sound like there is that much that needs doing to it to justify 30k decrease.

IndecentFeminist · 12/10/2020 16:04

6 wks isn't a very long time though tbf

Elbels · 12/10/2020 16:06

While you're not being unreasonable to offer it, it would be hard to justify why those changes mean you want 30,000 off. We spent under that amount having everything rewired, central heating installed, new bathroom, new kitchen and new floors /carpets a couple of years ago.

unmarkedbythat · 12/10/2020 16:13

How can it be unacceptable to offer less? What will happen if it's too little for the vendor other than a refusal? Only a few people get all het up and harrumphy about cheeky offers (and they provide excellent entertainment when they do so). I think mad offers must be more common than is widely thought, I went to view a house last year that was on at £130k and it sold for £92k. I hadn't made an offer but now very much wish I had offered an even £100k!

lanthanum · 12/10/2020 17:06

I can't imagine noticing creaky stairs during a viewing! (As a teenager, I did know where to step on each stair for the lowest risk of parents hearing, though.)

daisypond · 12/10/2020 18:36

What’s wrong with the doors and radiators? Why does it need new ones? Do the doors open and shut? Do the radiators work? If they do, it doesn’t need new ones at all.

Anotherlovelybitofsquirrel · 12/10/2020 18:48

You can offer but it's bloody cheeky. It doesn't matter how much you think it needs, it could be that is the price they go for in that area. Have you looked on Rightmove Sold prices? See what houses have gone for in that area, what state they were in etc.

Maybe you should look at houses in your price range rather than trying to get the better of an elderly couple.

LovelyLovelyMe · 12/10/2020 19:28

I'm very surprised that the Estate Agent shared the views of other prospective buyers with you.

If that was my house and I discovered this, I'd send a letter to every other house on his books and let the owners know about his blabber mouth.

Waveysnail · 12/10/2020 19:30

Does it need 30k spent on it?

Original poster

gingerlace · 12/10/2020 21:05

@Anotherlovelybitofsquirrel defiantly don't want to get the better of an elderly couple!! I said initially I wasn't prepared to make an offer as I felt the price I was willing to pay was insulting.. but is an offer better that none at all?

I know from selling my own house that a house is only worth what someone is willing to pay and they've had lots of views and no one is willing to pay the advertised price.

I have lots of viewing lined up this week.. not many houses meet our needs and I'm doubting moving at all. I think I'll keep my eye on the house over the next few weeks and if it's still on the market I may offer what it's worth to me.. as people say, it can always be rejected/negotiated

OP posts:

AnathemaPulsifer · 12/10/2020 21:08

Just offer. The worst they can say is no.

TVandwine · 13/10/2020 00:25

You can always try. Our house was advertised for £300k and was extremely dated too. We offered £270k for it and the elderly couple who owned it came back with a price of £275k. It all depends on what situation they're in. Good luck.

VinylDetective · 13/10/2020 00:40

no one is willing to pay the advertised price

Yet. It’s only been on the market for six weeks. That’s nothing.

jimmyjammy001 · 13/10/2020 01:25

Their house has more than likely trippled in value since owning it, unfortunately people get greedy with asking prices for their house even when they have made 100ks on it

CSIblonde · 13/10/2020 01:28

I worked for an EA. If it's really dated you knock off what it would cost to do the kitchen & bathroom as they're the big spend & other stuff like repainting & carpets is what you'd do anyway when you move. If it's structural you get a builder round then knock off what their estimate is.

Iola4 · 13/10/2020 01:55

My friend offered 10k off 310k and got it...30k might have been too far... similar situation, older vendor. Pain in the arse over price movement even though ALOT of work both comestic and structural needs doing. House had been on the market for a LONG time, I think they were willing to wait.

Iola4 · 13/10/2020 01:55

Cosmetic*

BlankTimes · 13/10/2020 02:02

If it's really dated you knock off what it would cost to do the kitchen & bathroom as they're the big spend

As a seller, I'd say the house was valued and offered at that price to take account of the age and appearance of the existing fixtures and fittings.

Price reductions should be negotiated when there's structural work to be done, but not because the buyers don't like what's already there and want to change it as it's not to their taste.

Any faults a survey finds with electrics, plumbing, drainage, structural work etc. should definitely be negotiated for.

But something you just don't like the look of that's perfectly serviceable, no, you should not expect any reduction for that. Where would it stop?

You've sold property yourself, would you honestly have accepted a £30K price reduction for the value of new fittings just because the buyer didn't like the look of your kitchen and bathroom?

Snowmonster · 13/10/2020 02:04

i always think of a house price as a rough guide - a house is only worth what someone is prepared to pay for it after all.
If the vendors don't like the offer they will say no.

Anordinarymum · 13/10/2020 02:08

@gingerlace

It it completely unacceptable to offer 30,000 less than the advertised price on a house?

It's been on the market 6 weeks and I find it hard to believe there have been no offers. Is 30,000 under too much?

You could get your estate agent to contact their agent and say you are very interested and motivated and can't afford any more than the amount you want to pay and see what they say.

Porridgeoat · 13/10/2020 02:20

Yes just offer. 30 k off 300 is only 10% less. Seems reasonable. The sellars were likely given a high medium and low price as a suggestion when marketing. Are the electrics ok? Bathroom dated? Kitchen dated?

Anordinarymum · 13/10/2020 02:23

@Porridgeoat

Absolutely this

Flip

1 2 3

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.