“Open To Offers”

[SilverLiningSearching]

I was arranging my 2nd viewing with EA and I was informed that the vendor is “open to offers” this was after I told EA that I was a No Chain buyer, the vendor is also no chain. The property is on for £ 190,000,and in reasonable condition, but requires cosmetic improvement. Thinking of offering 8-10% under asking, is this realistic? Or will it just annoy the vendor?
Also, no trace of last sold price on RM so think the vendor must have owned the property a long time.

Have you checked the price for neighbouring properties of a similar size on RM or Zoopla?

How long has the property been on the market?

The property has been on the market since March, 2 similar style houses sold in 2016, one for £165,000, one for £195000, the later being extended and top spec.

I think 170 is reasonable and then could negotiate up if not accepted.
Those who don't declare being open to offers aer still open but probably aound 5%, so if they actually say so (and maybe it's just to you) then 10%reasonable.

Thanks for your input @CatAndHisKit, I suspect that a fast sale is a priority for the vendor, so will be more flexible on the price. Got the second viewing this morning.

I’m in Scotland, and in my own experience both price and date of entry are factors. So, a seller might accept a lower price with an early entry date.

I’d offer low and see how it goes. You can always offer more if they refuse.