Offering £30k under asking

[whatsontonight]

Viewed a house which we love, it needs a bit of work doing to it such as new paint throughout, carpets etc. It has a new ish bathroom and an ok kitchen. We offered £30k under asking, it is priced at 210k. The estate agent seemed completely shocked we had offered this and now I'm wondering if this was a CF offer

A friend was selling her house in our village in 2018, it had a fair bit of interest. One bidder pitched a similar offer under asking prices but slightly higher price. She was really offended and instructed the agent to not forward any offers or correspondence from these as suspected they were time wasters. She had 4 offer of the asking price and one over.

The wife of the blocked bidder came knocking one night kicking off that they would not engage with them as it was 'their dream home', my friend replied she can't of wanted it that much and closed the door.

The woman kept knocking and almost harassing them, police had to be involved.

Sold for £15k over in the end, not to cf

I had this when I sold my last house. Improvements the buyer wishes to make should not be at the seller's expense. The only reason I would reduce by such a huge amount is if the survey turned up something unexpected and major. I sold my £350k house for only £1500 under the asking price.

Lolz of course you can offer what you want - I just bought a London flat and offered 35k less than asking - they met at 24k less than asking

That’s how it works right - you offer they say no, you offer more, eventually they counter offer and agree

I’ve saved myself 24k so yeah - don’t care if people think it’s a cheeky offer

[quote Cccc1111]@jumperjet yes thank you for pointing that out, I was completely unaware of that...... 🙄🙄🙄 Well duh state the obvious!!!! I’m very very well aware what I’m doing. And how my plans all fit together thank you[/quote]
I just thought that if you find it difficult to deal with people offering you less than the asking price on a house, you may well find it very, very difficult indeed to deal with tenants.

@whatsontonight

Wow this thread has definitely been an eye opener for me. We have now secured the property and will start proceedings. Thanks for everyone's opinions and this will definitely be off help for future house purchases, I can't believe we have secured a house

That's excellent news. congratulations!

Hi OP
If I was willing to pay 195 k for a property marketed at 210 k I’d have offered closer to 195 k as I think your offer of nearly 15 % off the asking price could be seen as unrealistic.

@jumperjet still stating the obvious about letting and tenants 🙄🙄🙄 I will be fine dealing with tenants thank you for your concern.

I just thought that if you find it difficult to deal with people offering you less than the asking price on a house, you may well find it very, very difficult indeed to deal with tenants.

Very difficult!

30k under listed price is quite large - in actual percentage terms.
But, at the same time, as first time buyer - you are in a very strong negotiating position.

@wonble.... I don’t know how many different ways there are I can say “I know”!!!!

I think op knows they’ve taken the piss, they’ve just come on here for people to go ah there there and make them feel better about it, so they can try to make their conscience feel better.

What does the op have to feel guilty about?
The seller wasn't forced into it!
Does the seller feel guilty for the fact the value has increased since they bought it?

God there are some drama queens on this thread

@Heyahun

Lolz of course you can offer what you want - I just bought a London flat and offered 35k less than asking - they met at 24k less than asking

That’s how it works right - you offer they say no, you offer more, eventually they counter offer and agree

I’ve saved myself 24k so yeah - don’t care if people think it’s a cheeky offer

It depends what the asking price is. 30k of a 100k flat would be received very different than 30k off a 500k flat for example.

@Cccc1111 you know you will be difficult? Ok

@whatsontonight

We have said yes to the 197k and agent is going back to seller to confirm ok to take off market 🤞🏼

congratulations! (Mind you, I think you could've driven a harder bargain since the EA was obvs bluffing)

Now I know why there are some houses on the market for 2 yrs! 😆

@yearinyearout

That's a bit of a piss take at that price level, unless it's in a really cheap area and is way overpriced to start with.

I disagree, OP is doing the right thing, property is dangerously over inflated, we should all be bidding prices DOWN

@o8O8O8o as someone on the ladder it makes far more sense for me to move up it when prices aren't rising. I can't criticise a buyer offering under to me when I will be doing the same!

We offered 175k under the asking price and got it. You have to go for it...

Well done OP. Do make sure you get a survey done. Also take a look at electrics.

Kitchens & bathrooms can be done by anyone but electrics need to be done by an electrician.

That they accepted so quickly would make me wonder if there was more than just dirty carpets and chipped paint to deal with.

A nice kitchen takes up just as much room in a skip as a nasty one if it has to come out as part of a rewire.

@wonble a very childish response. I never asked for advice on my own situation. When people offered I said I don’t need people stating the obvious and I don’t need advice as I know what I’m doing thank you.

When we moved south, the vendor asked us what we could afford when we said we couldn’t offer the asking price.

She wanted the house to go to a young family, not a developer or as a weekend home. We paid 42k under the advertised asking price because we didn’t talk about ripping her family home to pieces.

We stayed in touch when she moved into sheltered housing and I took her daffodils, plums and rhubarb jam from the garden (her pride and joy) every now and again.

No harm in a low offer.

@whatsontonight

They've come back with 197k!!!

Fab!!! Hope it all goes ok 🤞🏼

@CherryRoulade

When we moved south, the vendor asked us what we could afford when we said we couldn’t offer the asking price.

She wanted the house to go to a young family, not a developer or as a weekend home. We paid 42k under the advertised asking price because we didn’t talk about ripping her family home to pieces.

We stayed in touch when she moved into sheltered housing and I took her daffodils, plums and rhubarb jam from the garden (her pride and joy) every now and again.

No harm in a low offer.

I love happy endings like that. Have you moved or did she die 😥

30k under for paint and carpets is cheeky! They knew what their house looked like when they put it on the market, it’s not like you have had a house survey and found some underlying structural fault that no one knew about and seriously affects the value of the property.
The market is on fire at the moment I highly doubt they will need to negotiate with you any further, if the house is otherwise reasonably priced for the area, has a good sized plot and so on others are likely to be interested.
You are entitled to offer what you want of course but I wouldn’t expect them to be very happy about it.