should we make a cheeky offer?

[harrietm87]

We've found a house we like, but our flat isn't yet on the market. We had it valued last week and the agents advised to wait until the new year when more buyers will be around.

The one we like has been on the market since May, no offers. The sellers will be moving in with family so no chain. It's on at £750k. Houses in the area have sold for that much but were perfect, newly refurbished. This is tired and gas had original features ripped out, plus prices have fallen in the area since brexit.

Our max is 650k. Is it worth offering that and is there any advantage to making the offer now (less competition maybe?) or in January (stronger position as ours will be on the market then)? I know it's way under the asking but since it's been on the market so long it's maybe worth a try!

What have you got to lose? Worse case scenario is that they say no. Good luck!

Might as well, the worst they can say is no.

They can only say no. You have nothing to lose if you ask, and possibly everything to lose if you don't.

You are not proceedable yet, so your offer would only be an expression of interest at this stage. The vendor and the EA will not take the offer seriously until such time as your flat is under offer - unless you are not relying on the sale of it in order to purchase the new property?

So you can't proceed with a purchase and you want to offer £100K less? I think you already know your answer.

Yes make the offer.

Having had it on the market for that long with no offers they may go for it.

I realise my question wasn't at all clear! We will make the offer, My question is re timing - is there an advantage to making it now (at a quieter time of year), subject to a moving date after Christmas, or is it better to wait until the flat is actually on the market. Fwiw our flat will likely sell fast - we've had numerous flyers through the door from people looking to buy in our block. The sellers aren't in a chain and can move whenever. Seems like should probably wait until the flat is on the market though.

If it will sell fast, what's the advantage in waiting until new year? I'd get it on the market and then make a cheeky offer when you are able to proceed.

Unless you're buying cash you can't actually make an offer though if you're dependent on your flat sale to fund? It's only expression of interest until you have proof of offer on your flat.

I'd wait until you have an offer on your flat.

Without an offer on your flat there's no reason for them to agree to anything.

If you can pay for the house without needing to sell your flat first then make an offer. If you need to sell your flat first, it is highly unlikely that an offer from you will be accepted especially as it is so low.

As spickle said, you can't put in an offer until your house is sold so you'd just be letting them know you are interested. You could ask for first refusal, I suppose, but that's it realistically.

I would get my flat on the market pronto and I wouldn't use an agent who said don't bother until January.

I would do nothing about the house for now - keep your powder dry and sell your flat. Hope for no chain, then make your low offer. I have had a house up for sale in a week and sold it in a day!

Your not proceedable so your offer would be an epression of interest surely? We are off to look at a property to renovate next week and if we liked it would be in the same position as you are. No harm in 'offering' but the answer is usually not a yes/no simply because you can't actually move forward with the offer unless you can afford to buy without selling first.

I'd contact the people who've put flyers through your door! Could save you the estate agents fees! And definitely put it on the market asap.

If your place will sell easily and theirs won't, would they consider a part exchange?

I don't understand.

You've had flyers through the door from people wanting to buy your flat, but you're going to use an estate agent?

Your flat will sell fast, but the agents are telling you to wait until after Christmas when there are more buyers around?

And you want to offer 100k less than asking price when you're not even able to proceed?

Well it's worth offering but don't be surprised if they don't take you seriously.

If you don't ask you don't get as they say! Go for it, worat that happen is they say no

We got this house for 15k less when we brought it a few years ago. It was cheeky to offer 15k less but the sellers wanted a quick sell, we were cash buyers and ready to move in