Cheeky offer?

[noddyholder]

How much would you offer under the asking price for a property which has been on the market ages and needs a fair bit of updating?

I would estimate how much it might be worth once the necessary work was done and how much the work would cost to do and offer the sum which i then came up with less maybe 5%

It might be that the asking price takes into account the fact that work needs doing. Depends on what the work is - if it's just decorative, then I doubt they'd accept much below the asking price. If it's major stuff, then they might be amenable.

Problem is that they may not have much room for manoeuvre if they are trying to buy another property. Just because a property has been on the market for a while doesn't mean it isn't worth the asking price.

Still, you could always try and see what happens!

Sarah Beeney says if you are selling you should expect to get about 10% less than the asking price. Estate agents are reknowned for over inflating the value of your property so you will go with them. That's why a full asking price offer is so great. Start low and you can always up the offer.