Another 'What would you offer?' thread (sorry)

[MrMenAndLittleMiss]

Apologies, I know this question gets asked such a lot on here.

The house we are looking to offer on has been on the market for around twelve weeks, at £450,000.

We have just accepted a very good offer on our property and could just about afford the full asking price if need be, but obviously we would rather keep the spare cash and put it towards improvements on our new home. There are a few things that need attention but I assume that this has already been reflected in the asking price.

Asking prices and sale prices tend to be fairly similar in this area; I think around 96% is the average.

We really do want to buy the house and don't want to alienate our vendor with a rude offer but likewise we don't want to pay more than we need to.

All suggestions gratefully accepted. TIA

If you're serious you could go in like a bull in a china shop & meet their asking price first time. Personally I'd test the water at £420. Habe you got 'pulling power' such as a short chain/no mortgage that you can use to swing it in your favour?

Well done for getting a good offer on yours

Thank you. We were considering £420/425. Our buyers have a house to sell themselves but that buyer is a ftb, so a bit of a chain but not too long.

The vendors are downsizing and I don't think they have any great urgency to sell.

432k is 96%

However I once read that a lower initial offer often results in a more reduced sale price

So I'd offer 420 to start.

420, then 428, then 432

That's our thinking too squish. If we go in at 420 we may get a deal around 430 whereas an initial offer of 425 might get pushed up to 435. That extra £5,000 off could go a long way on towards improvements