How much do we offer?

10 replies

Timepasses · 09/08/2012 19:53

Found a lovely house on sale for£134950. It needs a new bathroom maybe new boiler and decorating. We have just sold our house and the one we are after is empty. The seller has said he is open to offers. Is £120k too cheeky for opening offer? There is smother couple going for 2nd viewing on Saturday.

OP posts:

Original poster

Timepasses · 09/08/2012 19:54

*another

OP posts:

DialMforMummy · 09/08/2012 20:49

I don't think it's cheeky at all. What is the worse that could happen anyway? Make sure you point out you are ready to move though.

tawse57 · 10/08/2012 09:04

Houses sell on average for 90 percent of asking price. 120K is about 90 percent of asking price.

I would offer 105K and work up.

MrsJREwing · 10/08/2012 09:06

I was told 10% off in this falling market, 15% for houses with dodgy issues.

noddyholder · 10/08/2012 09:40

I would start at 110k and work up to your max? How do you know there is another viewing? Agents are always telling us this but they don't exist!

Original poster

Timepasses · 10/08/2012 13:20

We bumped into the other viewers on our first visit. They are going back tomorrow. I offered 120k this morning. It was rejected

OP posts:

MrsJREwing · 10/08/2012 13:37

Next offer make sure it has a time limit.

throckenholt · 10/08/2012 13:43

I would go back in a day or so and offer a bit more, stress you are ready move and have the money to pay (assuming you have).

tawse57 · 11/08/2012 18:47

Wait for them to come back to you in 6 weeks. Offer 5K less then for mucking you around.

It is a buyers' market and banks are seriously down-valuing houses in surveys so they will be lucky to find someone who can get a mortgage at the price they want IMPO.

RCheshire · 11/08/2012 21:02

tawse57, you're being too confident of your position in that post. You don't know whether the house is priced at a 2007+10%, 2007, 2004 or 2001 level. So how can you say "they will be lucky to find someone who can get a mortgage at the price they want IMPO"?

I sold a place earlier this year and had four offers (excluding anyone who needed to sell their place). If one of them had said "I'm dropping my offer by 5k for messing about" I'd have quite happily told them where they could go.

I ended up with two cash buyers bidding against each other and the house sold for over 90% of asking. It was priced sensibly.

How can you say you'd offer 105k on the OP's house without knowing whether equivalent houses in the area have been selling for 200, 150 or 100?

Flip