Is this a reasonable offer?

[ThisIsReallyFunny]

Seen a house been on the market since early May. It's on the market for 1.495. Needs a fair bit of work and we've gone in with an offer of 1.2. The house is empty as family have relocated and ours is yet to go on the market. Would you accept our offer?

1.495 what? Million?

Yes

No of course not: unless you have funds available, or at least promised by the selling process on your house, its not a solid offer at all. Sorry!

No I wouldn't as you are not currently in a position to proceed.

Depends on a huge range of factors, but 20% below asking is ok for an initial offer if you're planning to use that as a basis for negotiating upwards to, say, 5-10% below asking. I definitely wouldn't expect that first offer to be accepted though, no. What's the most you want to pay for it?

No it isn't. You're not even in a position to proceed unless you're cash buyers?

Unless you are a cash buyer I think the usual protocol is to say that your offer will be accepted (assuming it would be) but other people will be allowed to view and put in other offers in the meantime until your house has a buyer and you can proceed with the sale.

Our neighbours started marketing theirs at 2.3mill, dropped to 2 and sold price on rightmove tells me it actually went for 1.75. So yours might be an ok offer, totally dependant on too many factors to really give advice.

They may accept but keep it on the market until you are a position to proceed.

Whether the offer is reasonable would depend on the local market.

Round here they are still going at asking or above in that price range.

and ours is yet to go on the market.

there's the issue.
It's not about whether the amount is a reasonable offer or not, but the fact you aren't in a position to buy.

No, I wouldn't accept the offer and I wouldn't even bother to counter as I would think you were a piss taker. I would also be less likely to take any subsequent offers from you with a pinch of salt.

Some rather strong answers! Get yours on the market pronto or you won't look like serious buyers.

I'd like to see this amazing house for that price please!

Thank you all for your opinions! We are going to be putting ours on the market pretty soon.

Hoping this will show we're serious, it's just taking a bit of time.

Looking at the houses in the same area, it's not worth more than 1.2 (we think anyway) it also needs a fair bit of updating.