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Original poster

Making an offer...sellers opinions?

34 replies

BigBadWolves · 18/01/2017 14:57

Just wondering if any sellers could give me an idea of where you stand in terms of offers under asking price? In general do people price and think I'd love x amount but if I got an offer of y I'd take it? Or is the asking price the price you want?

I've seen a nice house which is on the market at £127,500. It's been on the market for almost 5 months, but my budget at the absolute most is only £120,000. Should i view, or is that just a bit rude since I can't afford it at asking price?

OP posts:
donajimena · 18/01/2017 14:58

Just ask and be honest. They may say no but what do you have to lose?

drinkyourmilk · 18/01/2017 15:00

Just put in an offer. If they don't like it they will decline. We've done that with a couple of houses- they declined, but I'm glad we asked. 8

KatnissMellark · 18/01/2017 15:00

Definitely view it and make an offer if you want to. Stamp duty threshold is £125K so they probably priced it hoping to achieve that, but as it's been on the market for 5 months there might be some flexibility there.

Boulshired · 18/01/2017 15:03

I have always advertised at about 10% over valuations to factor in offers. Generally no offers are advertised as "offers over". I would view the house.

Shadowboy · 18/01/2017 15:06

Our house is on for sale at £339,950 after 3 valuations. I was surprised as it was more than expected. I would happily accept £327,000 so it's certainly worth viewing it!

Original poster
BigBadWolves · 18/01/2017 15:09

it's being marketed with "the fancy agents" 😂 and is just a few streets outside a slightly posher postcode so i think that's what's made me feel nervous. The rest of the time I merrily look at properties up to £125,000 and take off £5k in my head, which now I've thought about it makes me wonder if I'm doing it all wrong. Going to drive round the area tonight and maybe see about a proper viewing 😬

OP posts:
PippaFawcett · 18/01/2017 15:35

If a house is still on the market after 5 months then generally the price is too high. Go and see it and put in an offer - they can say no. You can always increase it, but you can't easily lower an offer. And FWIW our house went up for £260k and we hoped to achieve £240k, we had a £260k offer in 24hours but we would have accepted £20k less so you never know until you try.

Riderontheswarm · 18/01/2017 16:29

I think it is worth a try if it has been on for 5 months. We needed a quick sale so put our house on below the estate agent's valuation and sold for asking price on the day it went on the market. We wouldn't have sold for more than a few thousand below but that was because we were offering it for a very good price. If this one has been on 5 months then you know that nobody wants it for that price. Your offer seems about right even if you could hold afford more.

Tootsiepops · 18/01/2017 16:39

Our house was on the market at £425k. We would have accepted £415k, but got a very quick full price offer.

The house we've just bought was on at offers over £360k. We offered £350k and it was accepted (had only been on the market for 6 weeks).

I've got a total brass neck about property and no shame at all about putting in cheeky offers. All they can do is say no.

It's just business.

Bringmewineandcake · 18/01/2017 16:45

Ours is on at £175k and I wouldn't accept £170k as a first offer unless there was a good reason for it, e.g. You pointed out x y and z need doing and that's why it's not full asking price. Knocking £5k off just seems to be a thing. However I'm realistic and would accept £2000-3000 under. I think generally now a "first offer" is likely to be rejected as it's seen as an opening gambit. I would definitely go and see it, and if you love it why not offer £118k and then you've got wiggle room before you get to your absolute maximum.

Original poster
BigBadWolves · 18/01/2017 18:15

I think my main problem is I just get embarrassed by the whole thing 😳 I just drove past it, and it's down a sort of funny little offshot road with just a few other houses. Seemed a bit dark and dank as streets go, so may be why it's still on the market, but I'll try and have a wee shifty in the day light. It's also got a builders yard a few doors up, which had a lot of old cars in.

So may be location and price that is keeping it down. Think I'll see if I can get a viewing and maybe try and gird my loins for a cheeky offer 😬

OP posts:
PlumFairy2014 · 19/01/2017 15:26

We put in an offer of 145 for a 160 house that had been on 6 months, they settled for 147.
I didn't enjoy the haggle, but I'm glad we did it!

Lilmisskittykat · 19/01/2017 17:31

Everyone will have their limit and there is no maths to it.. it's just luck.

Take me for example I'm selling.. already at a loss to what I bought it for (painful in itself) but I am open to wiggle if they are a straight forward buyer i.e. No chain. But I'm in no rush to sell as my house is just fine just I've got married and we'd like to get a house together.

In the same respect I cannot wiggle that much as I need x amount to move on for min deposit for next house. So it makes no odds if my house is listed for a year I'm where I am. If that makes sense it's not always a gauge... some people just bought in 2007/08 and got stung

Overall.. be cheeky but not insulting (someone offered 18% below my asking price and wanted my furniture too!) he was a total tit in the bargaining and in the process decided he should do one.. cause this is a persons home

EssentialHummus · 19/01/2017 17:39

It's been on for a good while now. Do it, the worst you'll hear is "no". If your maximum is £120,000 I'd personally offer £117500 so there's room to go up if need be.

Sunnyshores · 20/01/2017 09:47

Whenever we've sold houses we've been given a figure for a quick sale and a figure for a reasonable sale. Sometimes we've wanted to chance it and put the house on even higher for a short while.

There are also loads of reasons people sell, some need a sale quickly, some dont really want to move, some desperately need every penny etc.

So, you cant really second guess what price a seller may accept. All you can do is offer what you can afford and what the house is worth to you.
Personally I think any offer made honestly and politely is fine.

JaxingJump · 20/01/2017 09:49

I'd offer £115k. Then raise to £118k and finally £120k.

Original poster
BigBadWolves · 20/01/2017 13:03

Got a viewing tonight - feeling a bit giddy and getting scolded for getting my hopes up over a house i can't afford GrinBlush

OP posts:
BreezyThursday · 20/01/2017 13:28

Is the asking price reasonable, or might the sellers be testing their luck?
If you are in a good position to proceed and they really need to get out it might work in your favour...but be prepared for it to not. Or you may hate the house on viewing!

EssentialHummus · 20/01/2017 13:42

OP it's also fine to ask the agent what the vendor's circs are - some need to move faster than others.

Bringmewineandcake · 20/01/2017 19:50

How was your viewing? Grin

anotherdayanothersquabble · 20/01/2017 22:13

Don't be embarrassed. The house is only worth what someone is willing to pay for it. If that is you at £120,000 then great, if it's the Jones who are willing to pay £124,950 then good luck to them. Properties around the stamp duty mark are difficult but in reality it only puts £1,250 onto the cost of the house so in my eyes, a little bit of a red herring but it still has an impact.

Our house has been on the market a while and we were very keen to buy but felt it was over priced. We were honest about what else we had seen and why we would much prefer their house but were not prepared to pay the full asking. We were also in a good position to buy which helped.

Original poster
BigBadWolves · 21/01/2017 17:16

Viewing was ok, the owners are keen for a quick sale as they are threatened with repossession proceedings. The problem is they bought at the height of the market so they need to get close to their asking price. I'm going to view a second time with the OH and see what he thinks, but will make an offer at what I can afford and see how it goes. Feel a bit mean trying to low ball, but as everyone said they can always say no Blush

OP posts:
user1484830599 · 21/01/2017 19:06

Not to sound mercenary but you need to take out the emotion. This is purely a business transaction, nothing more, nothing less. Its not your problem what they owe, they chose to buy the house at the height of the market (remember that bit on mortgage documents that reminds you that the value of your house can go down as well as up?), its more relevant what the property is worth to you.

120k on a 127500 house is only 6% under asking price and after 5 months I'm sure they would at least consider your offer seriously. They do say if you aren't embarassed by your first offer than you are offering too much.

At the end of the day it is only an 'asking' price, it doesn't mean you have to pay it.

purpleladybird · 22/01/2017 11:29

If you both like it, I would suggest either offering £120k and being clear this all you can offer. Or £118k to give you a tiny bit of wiggle room. Either way I expect you'll have to hold your nerve a bit - if they reject your max offer then you can say you're disappointed as you felt it was a strong offer but you can't offer any more so will leave it on the table and ask they come back to you if they change their mind.

Sunnyshores · 22/01/2017 12:24

if you offer more than you can afford, or more thatn its worth it will be you in the bad finacial situation - dog et dog Im afraid where house buying is concerned.