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[Calliekins]

My husband and I have a difference of opinion and just wondered what others thought?! We viewed a house this weekend that we are interested in. Hadn't realised it does need some work. Garden fence replacing, tidying garden up (overgrown), repaint every room and every room needs new floors, carpet upstairs and wooden down. Nothing major. House been on the market for some time. This could be because the vendor won't accept an offer but who knows. I've suggested to my hubby because we are cash purchasers and chain free and the house needs some attention we could try with an offer £20,000 under the asking price. My husband thinks I am unreasonable to think the Vendor would entertain that. Naturally I understand it is the Vendors perogative to accept or decline any offer.

How much is the house and how long as it been on the market?

Offering £680k instead of £700k when it’s been on the market for 8 months is different than offering £190k on £210k when it’s been listed for 2.

That said, you can always try. Worst they can do is stay no, but all those things are cosmetic, not any real work. It would be different in it needed all new electrics or a new thatch roof.

You can try
equally the vendor is at liberty to say no

It depends on what £20k is percentage wise, but I would aways say go in low. You can always go up but it's hard to come down. You are in a really good position so a lower offer might be accepted. Worth a try.

Will you be doing the work yourself or employing people to do it?
Do not underestimate the cost of having work done and the difficulty of finding tradespeople.
If you're doing work yourself, have you done it before and when? The cost of materials e.g. fence panels has gone through the roof - doubled in some cases since Covid. If you've not bought materials in a while you will be really surprised. Even doing that work yourself you will eat through £20k no problem.

I guess it's the cost and difficulty of getting tradespeople that is making this house sit on the market.

You have nothing to lose by putting in a low offer. They'll probably try to negotiate upwards. If they reject your offer out of hand, you've still got the option to put in a higher offer if you want to.

You've said it's nothing major, yet you want 20k off? Obviously you can try but I can't see them agreeing. I certainly wouldn't. Especially as they've presumably priced it taking all that into account anyway.

Depends on lots of variables.

Current price, motivated seller, how long on the market, single or multi agency, cost of comparable properties in the area, sellers current position with moving out etc.

Perhaps say to the estate agent that you are inclined to offer 20 under and see what they say. They may have an idea what the seller will accept, if they say they rejected 10 under last week don't bother, if they say they may be amenable you can formalise it.

House been on the market for some time

This is enough in itself that a lower offer is not cheeky. £20k under is really not cheeky unless the house is on for £50k (seems unlikely!!)

Go for it. Make the offer in writing (email fine) so the EA has to pass it on.

I'd accept £20k under on mine if you offered today. It's up for £595.

What's the worst that can happen.. refuse your offer.

If this inspires you, the house I liked was
up for £189k, they price dropped to £179k still no offers, eventually dropped to £159k, I then viewed at this price and offered £150k as cash buyer chain free and it was accepted, so a 20% reduction! :)