How much should we offer?

[ballsdeep]

We have found a house that we love. It's on the market for £350k but has been up since march. Houses around here have been flying off the market so I am unsure why this one hasn't budged. The price hasn't been reduced in the time it's been up. What do you think a reasonable and not cheeky offer would be?

As a rule of thumb, 10% below the asking price is considered an acceptable starting point for negotiations. But you should also consider its value compared to similar houses in the area, and to you specifically.

However - in my area, the houses like that are over-priced and the vendors are unwilling to accept it. They've generally received sensible offers already, but aren't prepared to accept much less than asking. Consider what the maximum you'd be prepared to pay is.

@PowerslidePanda

As a rule of thumb, 10% below the asking price is considered an acceptable starting point for negotiations. But you should also consider its value compared to similar houses in the area, and to you specifically.

However - in my area, the houses like that are over-priced and the vendors are unwilling to accept it. They've generally received sensible offers already, but aren't prepared to accept much less than asking. Consider what the maximum you'd be prepared to pay is.

Thank you. I know, I have wondered why it hasn't gone. It's a beautiful house but I do feel it's overpriced in comparison to other houses like it in the area. The houses in the street haven't sold since 2017 and only a few before then

I don't think there's any rule of thumb - you need to do your research and see what you think it's worth.

It may be that it's overpriced, it may be that with lockdown they've not allowed any viewings (maybe the sellers are vulnerable), maybe they couldn't view anything themselves so they're in no hurry to accept a low offer.

The only ones like this round here have issues.

One wouldn’t let you view as elderly owners were shielding (take it off fecking Rightmove then...)

Another was being force-sold in a divorce and the vendor wouldn’t answer the phone to the agent to arrange viewings.

@LividLover

The only ones like this round here have issues.

One wouldn’t let you view as elderly owners were shielding (take it off fecking Rightmove then...)

Another was being force-sold in a divorce and the vendor wouldn’t answer the phone to the agent to arrange viewings.

Oh no! I hope this doesn't happen to us