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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

Cheeky offer

22 replies

Tulips78 · 13/11/2023 21:17

Seen a house I love for 250k. Google tells me you should start by offering 5 - 10% less than asking so then is it okay to offer 225? From zoopla looking at others nearby sold recently, seems fair at 250k.
My only worry is I knew someone who put an offer in a seller was so offended by that the seller refused to receive any further offers from them.

OP posts:

whogivesacarrot · 13/11/2023 21:28

What is the basis for a reduced offer, is there work that needs to be done?
how much do you want the house?

hannonle · 13/11/2023 21:42

I assume most sellers expect you to offer 10% below, so go for it. That previous reaction was extreme and not the norm.

Fingers crossed for you!

WiIIowT · 13/11/2023 23:24

If others sold recently for £250k I wouldn't be interested in an offer of £225k. But it would get you negotiating. I dont know if it's low enough to offend them or not. How much do you want the house?

SurelySmartie · 13/11/2023 23:27

From zoopla looking at others nearby sold recently, seems fair at 250k.

Not clear what this sentence means.

Coffeeandchristmascake · 13/11/2023 23:32

Absolutely. Why not? They can only say no.

Shelaydownunderthetable · 13/11/2023 23:39

It’s not so low as to be offensive.

Vegetus · 14/11/2023 07:11

I don't get why anyone would be so offended as to refuse further offers, people are genuinely nuts.

Tebheag · 14/11/2023 07:31

What does it say on the advert? £250,000 Guide price etc?
Nothing wrong with offering a lower price.
Good luck

TinySaltLick · 14/11/2023 07:36

The seller will expect to receive offers below the asking at some point in the process, it is the typical concept of negotiation

They can just say no, offer a counter offer, or say yes

Magicisuponus · 14/11/2023 07:39

How much do you want the house? What is your budget? Is the house in demand?
When we sold ours, we got 3 offers in. We went for the people who offered asking price at first offer, as they were clear they wanted the house from the start. Another buyer offered asking price once they heard we had already an offer in for that amount, but we had more confidence in the first buyer as they were upfront.
If you really want the house, I wouldn’t go too low (maybe £235). If you are confident there’ll be other houses you like, then try £225 as it doesn’t matter too much if you don’t get it.

Grumpsy · 14/11/2023 07:43

Going against the grain, but if the house is worth asking, if I was selling and someone put in a low offer I wouldn’t deal with them, I’d have no confidence they wouldn’t try and reduce the offer before exchange, and frankly I couldn’t be bothered dealing with that.

Notwhatyouwanttohear · 14/11/2023 07:45

Google says many things.

You "love" the house and all the others around have sold for £250k so why are you thinking of taking the piss and offering 10% below market value.

You risk the seller thinking you're a chancer that will give them problems down the road if you offer 25k less and then negotiate up.

GymWanker · 14/11/2023 07:46

I always think it’s worth a bash.

Also worth looking how long it’s been for sale, if the price has dropped etc.

We got our house for a steal because the owner wanted rid (moved in with his partner, had bought it to flip but then discovered a few things he legally had to fix before he could sell which made it not such a profitable flip!)

ChateauMargaux · 14/11/2023 07:50

Do youbthink itnis genuineky worth £250k.. can you afford that price.. is there work that needs to be done that makes you think it is worth £25k less than the other houses that have sold for similar amounts... how do you think it might play out if you offer less or if you offer the asking... has it been on the market long, do you know if there has been much other interest.. if you loose this one, are there other equally suitable houses in your price range..

In most cases.. the buyer believes they have paid too much and the seller thinks they might have sold for more if only they had held out.

LittleOwl153 · 14/11/2023 07:50

Ir really depends on your local market.

Round here prices have reduced around 15% since Easter as the market has dropped. Time of year also means market it dead now waiting till after Christmas.

So if the house you're looking at has been on the market since before Easter without reduction then I'd say 10-15% under is fine. Especially so if seller needs it sold.

Hiddenvoice · 14/11/2023 07:56

I think it depends on a few things-
1- is the house worth the asking price or will you need to do some work to it?
2- how much do you love it?
3- the houses that recently sold, did they sell for £250k? If so what were the asking prices for them?
4- how long has it been on the market? Have they had many viewings and offers?
(if it’s been on for a long time then they might be keen on selling. If they have lots of viewings and a few offers then they might reject low ones and wait for higher offers or a closing date)

If I really loved the house, it didn’t need much work and I could afford it then id probably offer an obscure amount such as £243k and see what they say

Londonrach1 · 14/11/2023 07:59

Depends if there's other offers...if you offer that low you might not think you that interested. Up to you. You know your market. Around here houses sell within days at asking.... although it has slightly slowed down.. however very limited on market

wildwestpioneer · 14/11/2023 08:09

Offer whatever you want, there's no hard and fast rule, what's the worst that can happen? They refuse.

It depends on what your buying situation is, a buyer with no property to sell and mortgage in place or money in the bank etc will be more likely to get the offer accepted than someone in a huge chain or with a house that isn't sold. All depends how quickly the seller wants to move.

I was cheeky about 20 years ago and managed to get nearly 50k knocked off a house, it equated to about 20%, but I was in rented accommodation after selling my house with everything in place, they wanted a quick turn around and we got it all done in 8 weeks.

HAF1119 · 14/11/2023 08:30

It does depend, if house is new to market and you're keen I'd probably offer 230 just because phychologically it feels a bit nearer to asking! I have known people offer quite a bit under (we got ours 20% under) and some offer the full asking - depending how long it's been on market and if it is fairly priced

Squiggles23 · 14/11/2023 08:34

You need to chat to Estate agent try and gauge if there’s other interest etc. (Remembering they are a bias and want best price). How long has it been on the market?

I wouldn’t worry about offending but someone else might come in at asking price and then there might not be a negotiation. Depends if you are willing to risk losing it.

kirinm · 14/11/2023 08:39

The only reason I can think of to be 'offended' by a low offer is the likelihood they'll try to lower any price further down the line.

tealweasel · 14/11/2023 09:08

If there are no other offers on the table and particularly if the house has been on the market for a while then I don't see anything wrong with offering £225k. It would be reasonably unusual for someone to be so offended by a low offer that they'd refuse to engage further - particularly at the level you're talking about. it's not like you're offering £150k or something.

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