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?

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

It might be irrelevant to you @Alsohuman but it would be very relevant to me.

So say for example someone was asking £280 for a house they paid £180 for 3 years ago. Now, what they are effectively saying is "please pay us £100k for living in this house for 3 years*. Er, no. I won't be doing that - why should I borrow £100k which will probably cost me £200k over the term of the mortgage just for you to have lived in a particular house for 3 years. Not happening.

@mklanch

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.

Your one example really is not a very scientific approach to determining that ALL people are not accepting offers below asking price.

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

Sadly this is irrelevant really as to the value of a property. Obviously no-one is obligated to sell for any price, but that doesn't make a house worth a certain price.

Equally, what a vendor bought a house for is also irrelevant.

I don't think that £25k below £190k is a cheeky offer at all. Worth a shot. 🤷

Talk to agent and ask if the seller is open to offers. Some people - me, my parents - name the price they want and won’t take less. Some give a very low figure to generate a bidding war. Others give a ballpark figure to see what happens and may be open to cheeky offers, particularly if theyin a rush to put a chain together.

Remember it’s the agent’s actual job to talk you up to max price you can borrow.

I did once have a £15k lower than asking price accepted - but actually seller ditched us for a higher offer just before exchange when I had spent thousands on fees. 😣

That said it can happen, a friend of mine bought a £1.3m house for £1m cos the seller was desperate to move.

That logic is so flawed @stephenBelafonte

If the market has risen to the degree that a property is worth £100k more, then the property you may be selling in order to fund the purchase has probably risen too. Likewise the property the vendors are going on to buy. Prices don't rise in a vacuum.

@StephenBelafonte

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

It might be irrelevant to you @Alsohuman but it would be very relevant to me.

So say for example someone was asking £280 for a house they paid £180 for 3 years ago. Now, what they are effectively saying is "please pay us £100k for living in this house for 3 years*. Er, no. I won't be doing that - why should I borrow £100k which will probably cost me £200k over the term of the mortgage just for you to have lived in a particular house for 3 years. Not happening.

You’re completely missing the point. Every house will have risen in value. The house the vendor is buying will have gone up too.

You’d be asking for the vendor to give you £100k, their vendor isn’t going to give it to them. You really don’t understand the housing market, do you?

On the other side of the coin, we accepted a 20k under offer. Original price was 375 which was already good value compared to some on our road.

We accepted it as we were in a hurry. The six months it would have taken, to go through the whole process again, wasn’t really feasible. So It depends on the sellers situation I think.

We've just accepted an offer 20k under. In the main because I think it was overpriced (over valued by estate agent but also because we know the couple buying love it and won't (hopefully) mess us about and they are selling to first time buyers so a short chain going forward.

It's only worth what someone will pay. Depends on how much they want/need to sell. Ask estate agent what their position it- gave they found somewhere? Have they had other offers? Have they rejected offers? Try to do a bit of digging. Good luck.

One of our houses was above our maximum budget. It wasn’t a cheeky offer but an honest one. We discussed how much we could afford. The vendor told us she didn’t take £10k below the top of our limit because we’d need money spare for decorating the children’s rooms and buying curtains. We ended up paying £42k below the asking price in 1999.
We stayed in touch with the vendor and took her produce from the garden. She’d moved into sheltered housing, was in her nineties and was more bothered about who her home went to than the price.

Our last house was on for £800k and had a lot of interest. A FTB couple thought their offer of £710k was super attractive because as FTB they weren't in a chain. Erm, nope, we sold two days later for asking price!
I suppose it always depends on how long it's been on the market for, how well priced for the area it is and how much interest there is. In our case it was definitely a very naive offer, but in a different context it may get accepted. So do your research before offering!
Our current house was on for £775k and we negotiated it down to just over £750k. It had been on the market for four weeks at that point and I could tell the asking price was quite ambitious for the area.

Do you have a house to sell? We got our house for £145k below the original asking price as we put our house on with the same agent. Massive incentive for them to sell ours, and when we had a lower offer they negotiated the same amount from our purchase.

It all depends on the area. Check the neighbour sold price recently, whether the market is hot in that area, will give you a clear reference/guidance on how much you could offer in the beginning.

Currently I am interested on a property with popular area & very hot market, the nearby sold price are all higher than the asking price. If I make an offer, I will go above the asking price.

Sellers market at the moment, so very unlikely for low offers to be accepted I would have thought. Property in our area are going way over asking at the moment.

You can offer what you like - if its cheeky just don't pin your hopes on it. The worst that can happen is they so no thanks. Ours was on market for 350 reduced price to 335. We went in at 310 expecting to pay 320 but they excepted our 310 and the rest was history.

Our house had an asking price of £140k. We offered £120k and slowly went to £125k so a good chunk off. We knew it had been on the market ages and the owners had already bought and were doing up another house so needed the capital. It depends on their situation really. In my opinion, £140k was too much for this house. They had reduced it from £150k as well

Ours was on for 299k we got it for 261k it was over priced though, had been for sale for over a year

Our house was up for 695k we offered 625k and was accepted

We viewed house in October and them again in Spring and they accepted our offer

We moved in the June

The house was quite 'tired' and needed lots doing cosmetically as well as a few windows needing changing, front door, and so forth

The house was worth 695 in good condition

We have spent about 50k on it 😊

Sorry, awful English, cooking dinner 😉