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

Depends on a lot of factors really. A guide is usually 10% less. Of all it needs is redecorating and carpets then that doesn't represent £30k under. I'll be honest I would turn you down & not accept an increased offer but then I can be petty and depends if they're in a rush to sell etc.

It sounds like a normal opening offer to me tbh. They are free to refuse. We ended up with proportionally about the same amount 'off' ours, and it was in mostly decent nick.

Well you’ve offered now so just wait and see. Personally if someone wanted a £30k reduction for paint and carpets I would think they might be a pain to deal with further down the line, and I would consider other buyers before them. Depends how desperate your sellers are I guess!

I've been trying to work out this stuff recently too - we're first time buyers - and I found it really useful to look at how much houses actually sold for locally, versus how much they were put on the market for. You can do this on zoopla. If a house has sold fairly recently, there will usually be details both of the sold price, and of the listing. So you might find something was listed for 200k but actually went for 210, or 190, or whatever.

Round near me, I can see that cottages in pretty villages almost always go on for a somewhat inflated price and usually sell a bit under or a lot under. On the other hand, similar sized terraces and semis in towns seem to go on the market and sell for much closer to asking price, maybe 10k up or down but not more.

I don't really get the 'cheeky' aspect of it though. As long as you're polite and didn't walk in, make a face and say 'ugh, horrible, we'll need masses of money to get this dump into shape'?

Accept their offer.

Tell the agent that you think they have been really fair and you won't dicker any more! Ask them to take it off the market.

And you weren't cheeky, its part and parcel of bying and selling houses!

My DH would have done exactly the same OP - you have got to play the game a bit.
We went in at 20k under the asking price and ended up getting the house for 10k under the asking price .
They can only say no and if you can increase your offer a bit then it gives you some scope.

Oh sorry didn't RTFT looks like l missed the important bit!

Offer £193...and hopefully meet at £195

Only you will know what you think the house is worth to you.
We bought in 2017. There was a house that I liked.,big 5 bed 4 bath job. Built 20 years ago. But it needed new kitchen (was literally falling apart). Prob 4 new bathrooms (all the access was tiled over), new carpets right through and the 3rd storey windows were timber and needed replacing -the scaffold cost alone was loads.
He was determined he wanted 400k cos that was what next door had paid.
That already had replacement windows, kitchen and 2 bathrooms! We could not agree. He told the agent he was insulted by our offer 365.
Took him another 18 months to sell for 385 And the market had risen by then anyway!

Carpets and paint don’t come anywhere near to 30k, so yes, it was a cheeky offer and I’m not surprised they came back with 197k.

13k off is good, you should accept it.

Accept their offer! Don't bargain anymore. It's so close to what you wanted to pay.

Ask them to take it off the market and get the paperwork done quickly. Did you say you were first time buyers? So chain free? That gives you an edge I think.

Good luck.

I suppose I would also think you were a CF however I don’t blame you for trying.

All they can say is no

Unless we know what similar houses are selling for and also whether they are selling quickly or slowly, we can’t say if it’s cheeky or not. The estate agent is working for the seller so obviously they want a higher sale price, but they also want to sell the property so it’s better to be on good terms with the estate agent if they help advise the seller which offer to accept. (If more than one).

If I was the seller, I would be wary of someone not putting in reasonable offers as that is over 14% reduction. But depends how much interest they get. They have have overpriced for all we strangers on the internet know.

There is no right price

This

A house is only worth what someone is willing to pay, end of. The estate agent generally should pass on all offers but could advise you they have already rejected a higher offer for instance. It's not cf if that's what you are willing to pay.

Doesn't everyone under offer first off with the potential to come up

I was under the impression most homes sell under asking statistically.

There's no way I'd accept 30K on a property worth 210K. I'd laugh in your bloody face. That's almost 200K off the asking price. Its not going to cost 180K for a new bathroom carpets and some paint is it.

🤣🤣

I'd accept it now.

The sellers are way more generous than me you'd have got a flat out rejection off me

15% under is perfectly normal where I am & it's not unusual to see houses reduced by 100-150k in a month.

For a first offer it’s pretty cheeky. I’m dealing with my dads sale at the minute and someone offered us £25k under the original below average price. Purely because it had been painted white everywhere and has laminated flooring. I told the agents they can shove it. They came back with a better offer but still a no. I wouldn’t sell my dads house to chancers. It sold for above the asking price luckily to a decent family.

What's the point in having an estate agent value it if people are going to offer £30k under a £210k asking?! Fair enough if it's been on the market for years but not if it's only recently come to market. You are being massive CF'ers. You said yourself you'd pay the asking price......you are just "after a deal" and will have pissed off the vendors who won't take you seriously. If you want to meet in them middle like your post suggested at £195k you don't offer £30k under....I think your inexperience sort of shows OP sorry

That moved quickly! If you’re happy with £195,000 and going up to full asking price, then I’d just offer the £197,000 rather than mess around.

They've come back with 197k!!!

whoo hoo