How much below asking price can you go without causing offence?

[spingey]

I have seen a property I like. Its shared ownership and I would be buying a 50% share. The share is £110,000..... full asking price is £220,000. I dont actually think its worth this. I think its worth about £180,000 maybe a little more. It has been on the market for nearly a year.

If I can get enough money behind me I think I would be in quite a strong position. Im staying at my mums atm so I guess I have no chain.

Is 90,000 an ok place to start???

Impossible to know. Some people would be 'offended' by an offer others would consider pretty reasonable.

It is a business transaction. Don't worry about causing offence. Offer based on what you think the property is worth, what it is worth to you (e.g. special features that make it especially attractive to you particularly but wouldn't necessarily increase market value, iyswim) and based on your own financial situation. Not being in a chain should help.

I've bought and sold several houses. The only time I was hacked off with a prospective purchaser was when they came back several times with a 'best and final offer' and then kept upping it. We refused their last 'best and final' offer despite the fact that if they'd been more straight with us we'd probably have accepted it. But I wouldn't be offended by an offer I considered too low - I just wouldn't accept it if I genuinely thought i could get better.

Thanks for the reply.

I dont even know if I will be able to get a mortgage or for how much. Im just putting the feelers out. Im going to see a financial advisor to find out what I could potentially borrow.

I have been trying to thathom out on zoopla how much it is worth but its not really much help. Its giving it a very low asking price which is silly.

Working really hard to clear off my credit card over the next month as I know and debt will count against me for getting a loan.

I cant see it happening but I would like to see if its an option. We really need a home!!! :)

We were fine a few years ago with CC debt. We had to show all our outgoings, inc savings, rent and CC payments, plus I needed to say when it would be paid off. I think saving a substantial amount made the CC debt not so important (especially as it was almost paid off and we were paying more than the minimum).

I went in 10% below on our house and worked up to get it £6k less than they were asking. We had no chain, mortgage agreed in principle and weren't in a big rush to move (renting month by month). I felt that put us in a strong position, especially when we realised the owner was keen for a quick sale.

I wouldn't put an offer in on anything without a mortgage offer at least in principle.