A cheeky offer?

[goldpendant]

We've made an offer this morning on an apartment, £25K below asking, (asking is £425K).

Is this too cheeky? We've heard nothing at in response yet and now I'm thinking we've been too cheeky? It was based on us being chain free, they've already had to reduce once, and that it's a fairly niche property.

I don't think anything is too cheeky at the moment. The market is so strange. We had an offer accepted a few days ago 25k under asking price. They were being very ambitious though!

Depending on the flat, area and local demand, it might work out fine. But if demand is high, you could get outbid by someone who comes in closer or at asking price.
Given it's been on the market a while, the chances of this are lower. In this case, it's worth a bet.

worth trying, however be prepared to get disappointed and lose out.
you are only need to be lucky once.

400K seems like a reasonable offer to start negotiation. Under 375K would be cheeky

it depends of the property, could be cheeky if it is under priced already.
looking for bargain, go ahead and offer, as I said above be prepared to get disappointed few times until you get lucky.
if you really think it is a fair price, stick to it.
negotiation process is different with everyone.
you could start low and increase, might piss the buyer.
or go for fixed price and stick to it.

Not cheeky at all, seems like a very fair starting point to me.

Not cheeky. Some vendors take ages to think about offers. Especially if there are 2 of them.

I made an offer of 375 for a house priced at 425. I eventually had an offer of 385 accepted on it

We were looking into selling our house, told estate agent we were looking for around 750. They sent someone around for a viewing. He then offered 650. That was cheeky. 25K under asking is pretty normal.

I think it’s a good starting point for negotiation.

Like LazyFace, we were on for 775, reduced to 750 to be more in line with other properties in our area. Someone offered 600! That was cheeky. Then when we declined, they offered 620. After politely declining again we got an unpleasant message saying how disgusted they were that we were so greedy and they were “genuine people”??

So don’t do that!!

@MrsTWH

I think it’s a good starting point for negotiation.

Like LazyFace, we were on for 775, reduced to 750 to be more in line with other properties in our area. Someone offered 600! That was cheeky. Then when we declined, they offered 620. After politely declining again we got an unpleasant message saying how disgusted they were that we were so greedy and they were “genuine people”??

So don’t do that!!

How did they get the message to you? We had no direct contact with the sellers. Everything went either through the EA or in the later stages, through our solicitors.

Surely the EA wouldn’t pass on a message like that?

Knocked back! Going in with a bit more!

We sold through Purple Bricks and there is a messaging facility...

@goldpendant - remember you've have 2-3 goes at bidding before you annoy the sellers! But obviously don't pay more than you feel it is worth.

Not cheeky at all. We will be expecting offers somewhere between 5 and 10% under asking as a starting point, depending on the buyer's position.

Got it!

@MrsTWH

We sold through Purple Bricks and there is a messaging facility...

I’d have hated that.

Especially as it seems too have backfired, with your potential buyers being able to use the messaging service to insult you.

Another black mark for Purple Bricks then.
After promising us the earth then over-valuing the house by nearly £50,00 we've had just 3 viewings in two months. It seems strange they have a messaging system when it takes so long to get a reply from them. Bastards Bastards Bastards etc.
They weren't my choice by the way.

@goldpendant

Got it!

Congratulations- what was your final offer? My guess 410-15?