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Original poster

Is this an offensively low offer?

22 replies

IWantThatHouse · 30/03/2021 19:33

We have seen a house we love and made an offer today. The house is on for £850k and we offered £800k - purely based on what we can afford it wasn't for any other reason.

The house is a new build under construction now so the estate agent said she would put it to the developer today and get back to us by the end of the day but she hasn't been in touch.

Are they so offended they're just ignoring us? Is that a ridiculous offer? When talking to the estate agent we asked if they'd be open to offers and she said to make an offer and see what they say.

We are selling somewhere but it's under offer and going through and we have a decent deposit and mortgage in principle.

OP posts:
Snackz · 30/03/2021 19:35

They'll either say yes or no! Smile

nokidshere · 30/03/2021 19:36

Why would it be offensive? There are only two answers to the question after all. Developers might want a quick sale and say yes, or they might not and hold out for the full price. Either way you don't know unless you ask.

ColourfulElmerElephant · 30/03/2021 19:39

If it is new build and still with the developers, I’d be surprised if they will accept that offer.

Cloudesley · 30/03/2021 19:40

Our house was on for offers in excess of 850, someone offered 800 we weren't offended but just declined. We sold to someone else for 865 so it didn't work out for the people who offered 800 but I don't hold it against them for trying!

EuroTrashed · 30/03/2021 19:41

if it's one of the first on the development to be sold, they won't accept such a low offer because it will set the price for the other sales - you might need to hold your nerve until they're keen to offload the later properties (but likely in less desirable plots)

Shoppingwithmother · 30/03/2021 19:41

I don’t think it’s an offensive offer, but I think the estate agent was unreasonable to commit to an answer by the end of the day. I think even a developer may want more than an hour or so to think about an offer £50k less than the asking price. So maybe they are thinking about it.

Also maybe they did answer straight away and the estate agent forgot/didn’t have time to phone you.

I’m sure you’ll find out soon though!

arethereanyleftatall · 30/03/2021 19:41

It's hard for us to know op without having seen the house. It's all about what it's worth, not what it's on the market for. Some houses are clearly overpriced and £100k below would be perfectly fine, others are on at a bargain, and get offers over. You need to know what the value is in your area to know whether the offer is insulting or not.

Original poster
IWantThatHouse · 30/03/2021 19:43

OK that's good we could probably go up a little bit but will need to do some maths. It's a very small development of four houses, one has sold already and this is the only other at that price so it's nerve wracking because if this one goes there aren't any other options (on this development).

Good to know they probably won't be offended either way, I don't want them to think we are time wasters.

OP posts:
Aprilx · 30/03/2021 19:44

An individual may get offended with a very low of from but I am quite sure that a developer would not let it trouble them too much.

Unless they are really struggling, I don’t think a developer would agree to an offer that far under, they don’t usually have to.

TillyTopper · 30/03/2021 19:44

An offer can't be "offensive" unless you meant it maliciously (somehow) and I'm sure you didn't. If it's a property developer they will just say yes or no - I'm sure a company won't be taking it personally, they are probably just looking at the books/boss was out/taking time to come back with a counter offer.

Aprilx · 30/03/2021 19:45

@IWantThatHouse

OK that's good we could probably go up a little bit but will need to do some maths. It's a very small development of four houses, one has sold already and this is the only other at that price so it's nerve wracking because if this one goes there aren't any other options (on this development).

Good to know they probably won't be offended either way, I don't want them to think we are time wasters.

Oh they might think you are time wasters, but they won’t be offended. Two different things. 🙂
GU24Mum · 30/03/2021 19:45

Developers won't get offended - they might not like/accept the offer but they won't take offence .

You've asked for a 5.8% discount : most developers work on percentages and will have a scale of what the local team can accept and then they may need more sign off (if a large firm) or must more time if not. You won't have any idea what percentage they are looking at considering and it may depend whether it's a unit type and plot which they think will sell quickly; whether you are early on and they want to bank some sales or ealy on and they want to wait etc etc.

stackemhigh · 30/03/2021 19:45

Not offensive at all. Ours was on market for £500k, we offered £470k and was accepted.

arethereanyleftatall · 30/03/2021 19:46

What difference does it make if they're offended? They say no, and everyone gets on with their lives.

Findahouse21 · 30/03/2021 19:47

You might be better offering a higher amount but negotiating on things like turf, carpets, stamp duty etc. We paid list price but had our legal fees paid and they turfed the garden and paid a small % of our stamp duty as well

Pipthelab · 30/03/2021 19:50

Another one saying definitely no offence will be taken. I work for a developer and we have quite a few people wanting to buy the same properties. We will accept discounts but it also depends who is in a more proceedable position. We would accept a lower offer from someone if they were in a position to get into legals quickly. But also, we aren’t a national house builder and don’t have the large sales departments so it does take us a couple of days or so to get back to people on their offers. Fingers crossed for you.

arethereanyleftatall · 30/03/2021 20:05

That's true. After an absolute nightmare year of trying to sell our house with the chain keep collapsing for various reasons; I would accept £800k from a chain free buyer over £820k from a buyer with half a dozen in a chain.

Stovetopespresso · 30/03/2021 20:06

especially as its not a family having to accept less which would mess up their plans potentially! so not offensive at all.

ilikebungalows · 30/03/2021 20:19

They won't be at all offended. To them it's a business transaction, they aren't private sellers who believe that their house is the nicest house in the world and is soooooooooooooo worth the asking price. They will turn it down of course because it's an opening offer and then wait to see how much higher you will go.

Yafilthyanimal · 31/03/2021 21:59

How did you get on?

fluffythedragonslayer · 31/03/2021 22:09

I've bought four times and each time I have offered 10% under asking as first offer. None were àccepted but good starting point!

BarbaraofSeville · 01/04/2021 09:40

Offended is a strange way to look at it. Is the house worth £850k is what you need to be thinking about.

If it is, it's likely that they'll say no to your offer because they'll be confident someone will pay what they want. They may, however, decide that they'd rather have a guaranteed £800k today, rather than a hoped for £850k next week/month/year.

It doesn't cost anything to offer and they are free to accept or refuse.

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