AIBU to offer 15-20k under asking price

[HappyDreamer]

We are first time buyers with no chain looking for a 3 bed house.

We viewed one today asking price is £200,000. It has a new roof and decent windows. However the kitchen needs re-doing, as does the bathroom at some point. All rooms need updating by stripping, plastering and decorating as has been in the family since the 60s.

The house has a parking space for one car and is semi detached.

I have looked at other houses in the area that have sold recently and a few that are more modern with a decent kitchen and bathroom are selling for max 220/225.

Son is selling as dad has sadly passed and son is moving away next month and wants to sell asap.

is it unreasonable to offer 15-20k less at 185/187? The kitchen will cost around 10k plus the bathroom and other things that need doing.

The overinflated prices from COVID and the stamp duty holiday remain in many areas, then people wonder why their houses aren't selling.

It's a business transaction and you have a read the market in your local area.

There is nothing wrong with offering below the asking price. It is not a personal relationship and no reason to worry about causing offence.

For context, we offered 20k under and it was accepted. Estate agents and many sellers are unscrupulously overpricing and profit gouging I'm certain cases.

House buying and selling is all about negotiation. If you don't look a little over your budget you could be missing out because with negotiation they can come down to your budget.

Speaking as a homeowner with some unearned equity myself, I think some people are getting a bit twitchy at the idea of sellers not being able to realise the prices they want.

So did you offer lower @HappyDreamer

If they accept the offer, then OP will be buying a house they can afford... thats what an offer is. Its not a demand, its an offer, the seller isnt obliged to accept.

I just think low offers are extremely cheeky. In Scotland the survey is done beforehand & the surveyor sets the market value in its current condition. Maybe it's the done thing elsewhere though.

Sounds like it has already been priced lower to account for work that needs to be done, so YABU

The vendor's circumstances don't come into it. It's not the OP's fault that the vendor has suffered a bereavement which, whilst distressing, will happen to most of us at some point.

I mean - offer and see - they either accept or dont. FWIW - out house sold for alot less that what it was worth - but we needed it gone asap as was on the hook for somewhere else so....

😂To be fair, I think I'd be put off by bodies in the garden.

It’s a great pity that that’s not how things are done here. I do think sellers packs with surveys should be introduced to save people who can probably afford it the least first time buyers wasting money.

Offer what you like they can only accept or turn it down. But if houses that are already modernised go for 20 to 25k more it sounds as though the house is already reasonably priced.

Sellers own garden... hopefully the parents house is body free ;-)