How much was your house and how much did you offer on it?

[Hawkinsfirefly99]

Thinking of offering 575 on a 649 house. Anyone else made an offer that much lower? House has been on since June.

It was on for 460k and we paid for 485k

We are moving in a few weeks. House was on for 575k and we offered 530, 540 and eventually 550 which was accepted. The flat we are selling was on for 450. We would have accepted 440 (and maybe even less if we had found a dream house).
I think 575 is quite low. I would expect to pay 620-630 min for a house on at 675k...and as you can see from above, I tried a low offer!

With all these figures, what is reasonable depends on the market conditions and time. In the past, in boom times people often pay above asking price because demand is so high. In a falling market where buyers are scarce, you're so much more likely to have an offer accepted that is lower or considerably lower than asking price.

Look at local properties on right move and see how long they have been on there and how many have been reduced.
Look at figures for prices achieved over the last few months and see how prices are heading.

This 'I'm offended' by the offer is a bit daft. Property is only worth what people will pay for it. Sometimes it is priced far too highninnrelationnt demand or if the market is falling. Those who won't accept that can sit it out and wait years for a buyer or they can lower their expectation.

A low offer can be a good starting point. You'll normally have to increase it a bit......but it all depends on how keen they are to sell, how realistic and which way the market is moving. With a very low offer, you can't know you'll get an acceptance like you might with an offer at the asking price, but if the market is slow and that property has been on for a while, why on earth would you offer the full price straight off?

Ours was on for £599k and we paid £510k. It first went on the market at £850k. Our first offer was £499k but he wasn't keen so we upped it to £510k
In reality it had been on the market for 7 years, period property,Grade 2 listed and had unconverted barns. Also everything needed a new roof.

We offered £560 for a house that was on at £590 and it was accepted. London market a few years ago though, and so seller made a huge profit either way (with house more than doubling in value in a decade). Zoopla showed us how much he bought house for.

Not about 'offended' but I'd think someone is a time waster and wouldn't want to deal with them again. But then I've always put houses up for sale for realistic prices.

Just to add - I think your offer is really low given the asking price, but £600 seems ok.

When I thought about moving I was told that ten per cent off from the asking price was acceptable to start negotiations.

You have to look at the market and see if the price is reasonable and how long it's been on for. If it's just on and priced reasonably compared to similar properties, you've less scope to offer low. However, if it's been on for months and looks as if it's priced high compared to similar stuff, you should have a go.

The thing is, the people who keep their property on for months at far too high a price are often a bit deluded and out of touch. They haven't carefully researched to know the going price (or their home is very niche and hard to accurately judge the market price) and so will sometimes turn down perfectly reasonable and realistic offers. Of course, if they don't need to sell but can sit in the house for another 3 years, they have that luxury. But most people do want to sell and if they've been on for months, will consider an offer even if it's not your first one.

I have bought at above market price, at market price and well-below. These were all according to whether prices were rising or falling in the local market, how long they had been on for and how the asking price sat in relation to similar properties, as well as how much I wanted them.

There is no simple straightforward answer like 10% below. Sometimes that will be far too generous and sometimes get you nowhere.

ours was empty needs some renovations at £108500 as it had already sold at that once and the sale had fallen through and the other house we wanted vendor messed us around, we offered full asking price if they took it straight off the market, as we were cash buyers so no chain, there were several viewings lined up for after us and its a street where houses sell quickly the seller accepted our offer and took it off the market an hour after we viewed

On for £1.1m and sold to us for 979k. It was on for two much and we have spent a fortune doing it up so I'm glad my DH encouraged us to offer lower.

Ours was on at £650k. We went in initially at £600k which was rejected, but we agreed on £627k. £3k under our budget and I suspect £2k above what he had in his mind to accept so both happy.

Ours was on at 220 we paid 206.

On for 485 and we paid 495, so 10k over in 2017. Not a single regret. It’s a very large plot and a unique house with bags of potential. Where we are property is bucking trend and rising rapidly and we knew this could be a dream forever home so we went for it. Now worth about 550 (plus the renovations we are doing means it should increase a lot more too) but don’t really care as we will never move 😁. If you really want the property don’t take the risk of playing games.

On at 210, offered 200, secured it at 205, got it at 202 when we got a quote for a bare minimum of £2500 worth of repairs to the roof (it was leaking, badly) and vendor couldn't and wouldn't provide a safety certificate for the boiler (turned out that the heating didn't switch on and that was merely because the thermostat was buggered)

2012 bought our house for 1.175m... was on for 1.35m
Dd has just bought a 2 bed terrace in south east london for 335k... asking price was 375 and then reduced to offers over 350k
11.5% off asking isnt insulting if you can justify it.
Share a link and you will get better advice of what to offer

We got our place for £50k under the asking price. I was just very honest and said that’s literally all we have and we love the house but understand it’s less that you wanted. Luckily for us house had been on a good while and they were happy to sell...

Initially offered £180k for house on for £227. Settled at £200.

New build estate and last house to be sold. DH scuttled away from estate agent in shame when I suggested initial offer but I wasn't that fussed about the house and took a take it or leave it attitude. Was fully prepared to go up to £200k and I almost lost my nerve at the very last moment but was ok in the end. Made a huge difference to our mortgage and I love the house now.

Ours was offers over 375 & we paid 390 as plenty interested.

We received an offer of 425 on the one we we marketing at 485. Told them it wasn't worth getting into a conversation. Sold it 9 months later for 470 so worth waiting for.

We’ve just had an offer for £325 accepted. It’s been on since May at £345, we viewed in July & then a few weeks ago they dropped the price to £325.

We offered the asking price as they were willing to wait for us to sell which will save us a lot in mortgage fees.

Was on at 1.150 we paid 990. Needed a lot doing to it though.

All depends how much you like the house, what condition it’s in and if you know of other interested parties and 2nd viewings etc.

On for £575k, paid £540k. We put in an offer for £550k, then adjusted downwards post-survey.

Ours was on at £775k, got it for £750k.

Lovely big Edwardian house but needs lots of work.

This is only interesting and relevant if current and location given as markets are not consistent time, value or location wise

I am currently buying and selling - my house was sold on first day over asking price and I paid over asking for my onward purchase .. selling at 600k buying at 855k in very buoyant market in north where things seeming fast

190k and got it for 175k