How to offer

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I’m hoping to be able to make an offer on a house this week. Do I go into it expecting the first offer to be rejected? Is that the norm? The house is on at £245000. Where would be good to start. Obviously I want the best lowest price but the seller will want the best highest price.

Depends on state of the house if it doesnt need much doing I'd go in at 237 probably and hope to pay 240.

It needs everything doing. I should have said that in my OP. A similarly sized house but in much better condition just sold for £220. Only difference in size is that the sold one doesn’t have a garage.

Actually it was £210. Asking price was £220!

I think the norm is to offer 20% less and negotiate upwards to 10% less.

It really depends on the local housing market, the seller and the estate agent.

Offer too low and they'll think your not serious, offer near the asking price and you'll feel you've over paid.

I'd offer slightly lower than what you think it's worth to you, gives you room to go up abit but be prepared to walk away.

I'm looking to buy also, there's a lot of deluded sellers out there with unrealistic expectations on price.

If there’s another house nearby which also sold for considerably less then you have good grounds to offer quite low. You can say to the agent something like ‘I’ve seen that houses a and b in same neighbourhood and similar size but in better condition have sold for x, therefore I’m offering y considering the amount of work needed’. It will indicate you are serious and are not going to offer over the odds. Any agent worth their pay know what houses have sold for and have a good argument to present to the seller. They work for them but want the house sold. £20000 difference is only a couple hundred or less to them.
Any mortgage valuer will also know what the comps are and will base their valuation on those too.

I don't think I'd even waste my time viewing or offering on this one if the vendors are greedy and deluded enough to be asking £245k when a comparable but much better condition one has recently sold for £210k.

Given it probably needs at least £20k spending on it I would start at £190k and go to £200k max.

I would agree with jemihap 190 to 200k based on comparable... but no vendor wants to take 50k less than they think it's worth so might be one to avoid and see if they drop the price in the coming months.
Out of interest why did you view such a grossly overpriced house?

I viewed it because there were no internal pics when I was first told about it (registered with the agent). It’s worth that price if it didn’t need a new boiler, re-wire, kitchen, two bathrooms, all new flooring, artex ceilings removed...... it’s a good looking house from the outside and in a location we want.

You need to beat in mind that a garage can add quite a bit of value. Not for cars, but the storage potential.

Yes to the garage adding value but say the house needs £40k work compared to the other house then the asking price makes it £75k value difference. I don’t think a garage adds that much?