What would be a reasonable offer?

[Nutellaontoast19]

Asking price £355000 but I think it’s overpriced and has been on the market since March. Houses there usually sell within weeks. Same type of house on the street sold for £320000 in 2015. Would it be okay to offer £320000 and go up to £335000 if we need to? Or is the seller going to be offended?

Absolutely. Houses where I am sell between 5-10% less then the asking price and they’ve usually been reduced beforehand

If you're not embarrassed by the first offer, it's not low enough!!

Has it been reduced in price since March?
Depends but a house near us on for £350k and put on the market at approx this time has just sold for £330k so sounds reasonable to me.

No reductions since it was listed but it was previously up for sale for 3800000 3 years ago and didn’t sell!

We offered £315000 yesterday and it was rejected straight away. We knew it would be. I hope the seller isn’t too offended. The agent didn’t give any indication of a better offer IYSWIM. We will put in another offer today but I’m so worried the seller will be less than impressed with another offer he thinks is too low!

Meanwhile the agent for another house we viewed is phoning. That’s our second choice but the garden direction means we are offering on the first house instead. The second house is similar but the first house has a small extension at the back and has a south west garden. Second house has a south east garden. The second house is on on for £350000 and we know they would take lower due to circumstances. We need to decide at which price level we swap from the first house to the second house.

It's about negotiating though isn't it? Also depends on who is most desperate - you to buy or the seller to sell. Hold your nerve if you can.

We do need to find somewhere to buy but could just rent. We offered £327000 today. This was rejected but the agent told us that the seller has said the minimum he could take would be £342000. This is more than we are happy with. I think we will leave it a few days then go back in with £330000 as a last offer and leave that on the table but seriously consider the other house in the meantime.