House up for £339000 - what to offer

[Jeffers3]

Sorry I’m sure this is a really boring thread but any advice would be really appreciated.

It would be our first home, we’ve been to see it twice and it ticks all of our boxes. Absolutely ideal.
Only been on the market since early Jan, lots of views but no one has made an offer because there is no parking on the property. My, building contractor, dad viewed it with us the second time and he didn’t notice anything glaring.

In short, we love it and we’d be willing to pay full asking price for it however it seems crazy to go in at full asking price if they would except less.
Thinking of going in at £328 000, is that about right?

330,000

I’d say £325,000.

I'd offer 10% less and negotiate upwards to 5% less and then i'd pay that.

That would be over 30k less, I don’t think I could do that

Can you organise something at the front of the house to park, like a car port or paved front garden (or round the back if there is an access road)?

Offer less, £334-335,000 perhaps but get some advice about it.

Good luck! Exciting isn't it? Tell us what the house is like, how many rooms, garden etc. Unless you are in London area in which case we know it will be a garden shed type house or a little flat:-).

Don’t be worried about appearing cheeky. You can always go up but can’t go down! I’d say 325 as a first offer. You can always then ask estate agent for guidance on what they think vendor would accept if you are rejected. As a first time buyer you’ll have no chain behind you and that will be a plus too so stress that

When we bought our house the asking price was £339k but we offered £325k, it was accepted and that's what we paid. It also depends on the sellers situation, to buy our house we had to sell our flat which was valued at £470k but we needed to sell quickly and when someone offered £440 we took it. Doesn't hurt to try! Good luck with it, very exciting time.

I think £328,000 sounds about right. Most vendors will usually have £10,000 less than asking price in their heads as the least they’ll accept. It’s not been on the market long and had lots of viewings so they’re not going to be desperate yet.

Thanks all, it’s not something that comes up in conversation in real life so great to get some opinions.

Good to know we are not far off, think we’re going to go in at 328k.
Wish me luck!

It’s a 2 bedroom bungalow with both a front and back garden. A south east villiage so you don’t get loads for your money, in a town less than 10 miles away we could get a 4 bedroom detached .

That sounds reasonable and they might accept. Good luck.

Thank you, it’s all I can think about at the moment! I’ll be glad to go to work tomorrow because I won’t have time to think about it!

Actually id start at 320!

Whiskey2014 - that’s what my partner thinks too, he keeps saying to me ‘they can only say no’

In this market 310

In the current market you'd be absolutely mad to not start at 10% below, that's a perfectly reasonable opening offer.

You need to look at what houses are selling at in your area to decide what is reasonable for that property and what the competition for unsold houses is. No-one can say without that information.

£339k could be under or over-priced.

There's nothing wrong with making an offer.... however, you do run the risk of losing the property if someone makes an offer above yours or is a cash buyer.

The property hasn't been on the market long... under three weeks from what you say, so the vendors are unlikely to be desperate to sell this early on.

Anyway, whatever you decide to do... good luck!

We offered £315k on a house marketed at £339,950. Offer was refused as "insulting".

We waited.

We secured the house for £310k.