Anyone put cheeky offers in and it ends up being accepted?

[AnxietyForever]

I've seen a property I like on Rightmove but it's 25k over budget, it's been on since beginning of Feb.

I don't want to view it and then offend the buyers with a cheeky offer,

Any advice?

Depends what the asking price is. If it's, say, £150k, then that is quite a percentage off. If it's £500k, perfectly fine to start £25k below. I'm buying a house that had £950k asking, i offered £900 and we agreed £910k.

20% less is a cheeky offer. Sometimes they are accepted though.

We accepted £10k under asking price for our last house but that wasn't a very big percentage and it was ambitiously priced in the first place! - how much is the house you want on for? If it's on for £150k then £25k would be really cheeky. If it's on for say £750k then you might as well try!

We did. They came back with a counter offer of 2k more, we accepted! Would of gone up to asking but estate agent implied they would take much less. The house was empty after the owner died, it needed lots of work, owner didn't have children, was left to nieces, nephews, siblings, friends, 15 people in total so they weren't getting much each, think they just wanted the money!

It's on for 189k

I think it's too over ambitious on our part, it would be different it if was over 500k though. Maybe I'll leave it

How much did the current owners pay for it, and when?

I put in what I considered to be a cheeky offer at around 30k below asking on my last purchase- but that was a property around £300k. Ended up going a bit higher too, in the end.

More recently, though, we offered £30k below asking on a property on at £650k and we were flat out refused.

Sounds like you’re being a little bit too ambitious, but (on the other hand) nothing ventured, nothing gained!

@StephenBelafonte I think they paid around 154k in 2014 according to Zoopla

Well you can't ask for £25k off if they've only made £30k on it in 7 years! Why don't you go in at £180?

Well you can't ask for £25k off if they've only made £30k on it in 7 years! Why don't you go in at £180?

How much have houses nearby sold for? There is no law that property must increase in value.

@BuggerBognor

Try to find out what you can about their circumstances. We purchased from a divorcing couple who hated each other, been trying to sell for a year - got them down 50k

Same! House at 308k, offered 280k, they requested 290k. We gave them the choice 285k or 290k but with a full roof survey. They took the lower offer (after making up a miraculous second offer at the last minute) and DH fixed the roof himself for £100.

Depends on the area, how things are moving (bird in the hand) and their circumstances.

Well you can't ask for £25k off if they've only made £30k on it in 7 years! Why don't you go in at £180?

Of course you can, if that is what the property is worth! OP is £189k a realistic and fair price for the property?

I'd make the offer. Sounds like they might reject it but you never know what someone's situation is. I definitely wouldn't worry about offending them.

I never really understand this idea about offending people with cheeky offers. If you don't ask you don't get, as long as you are fully prepared that the sellers say no. And they might get all huffy and be oh so offended, or they might say no but here's what we would be prepared to accept. Or they might say yes.

Unless you know these people personally, I really wouldn't worry about offending them, it's a business transaction.

at the minute people are not accepting a penny below their asking price! .we saw a house on for £360k.. their house has been on for a while as previous sale fell through...it was through purple bricks so i messaged the owner direct....we said we were interested but cant go above £350k...she flat out refused and said she wouldnt take any less than what its on for.

@StephenBelafonte

Well you can't ask for £25k off if they've only made £30k on it in 7 years! Why don't you go in at £180?

It’s not about how much they paid for it but what the value of the house is now in its current condition. They may have completely run it down and needs a lot or work. Or in our case we have completely gutted our house, modernising it and made it far more appealing...

I would give it a go. The worst they can say, is no.

@AnxietyForever

It's on for 189k

I think it's too over ambitious on our part, it would be different it if was over 500k though. Maybe I'll leave it

I’m glad you said that, I was worrying it might be my house I’m trying to sell 😂😂😂

The house we own now was massively overpriced and we offered about 25% under asking price which was accepted. But that was because we offered what was a fair price for a house in this condition in this street.

The chancers who offered £100K for my fairly priced £180k cottage ( many years ago!) were given a polite refusal

They can only say no. If you can sell yourself in other ways e.g. cash buyer/no chain etc you may be in with a shot.

My in laws went in at £190k on a £220k house and eventually negotiated to £206k after some back and forth.

They might have a minimum floor to be able to afford their next step (we're going on at £225k, but only need £210k to be able to secure the types of property we're looking at, so there's some wiggle room).

@StephenBelafonte

How much did the current owners pay for it, and when?

That’s irrelevant. Any increase in the value of your house is fairy money if you’re buying another one.

Our house was on for 260k
We got it for 235k

We did - asking price of £250k, offered £238k as a sealed bid but with a letter explaining that we were first time buyers, mortgage in place and ready to go, and that we wanted to make the place our family home (it was being sold by a deceased lady’s children and had been in family for 80 years).

We weren’t even the highest bid - two were higher - but they decided they wanted it to go to us and it was ours! We were shocked and a bit unprepared as it was a huge project and we hadn’t totally been convinced. I think we were very lucky really.

It's so variable - it depends how much you want the house.

If the vendors have spotted something on the market it could be the right offer at the right time.

For the house I'm in now I went full asking, top of the budget, because I had to move quick and I was first through the door. I couldn't have afforded it if it had got to open market. And when I sell it, I'll go to best offers after it's been on a month or so and get the best price. (It's a very desirable house).

I have chosen offers based on what the prospective buyers were like. First time buyers over bossy first time landlord. And nice family over man who stinky pooed in my bathroom during the viewing

I never subscribe to the offer x% lower idea, I judge it on the market and how much I want the house. I've never lost a house I've offered on and I've sold for asking in the first month give or take a few thousand above and over. I don't think this is a coincidence