Really insulting offers

[NorthernLurker]

We are hoping to go and see a house this weekend. (agents are having trouble speaking to the vendor at present) We have not previously gone to view this house because of it's price - too much for us BUT it's now been on the market for months (6+ I think) and I think - from my extensive knowledge of the area - been househunting for a while...that it is seriously overpriced - somewhere in the region of 35-40 000 actually. So - if we liked it that's the sort of offer I would put in. Now we have nothing to lose by doing this and from talking to the agents it's obvious they haven't had any interest for ages...so what do you think - will they think we're unspeakably awful or do you think we might be in with half a chance?
(we have had a good offer made on our proerty but buyer needs to sell so whatever happens would have to wait for them before re-offering - I know this isn't the strongest position to be in )

my philosophy is don't ask, don't get.

go for it!

keep us posted.

Do it. Afterall, you aren't trying to make any friends, you're trying to buy a house.

The worst they can do is to say no, what have you got to lose?!

You don't tell us the asking price but 10% less would be my bare minimum and that's in a pretty strong market some places round here ahve been going for 100,000s of pounds less than asking
lots have gone under offer for asking but not sold

The market is flatter than the tortillas I had for my dinner and what I was thinkingn of as a starting offer would be 15% lower - gosh this is exciting isn't it!

15 % would seem fine

If this isn't your forever house I wouldn't instantly follow up a no with a higher offer, not in this market just point out how ong they've been on

Lots of predictions around for housing market collapse.

They might decide a bird in the hand...

Thanks 1dilema - very relieved that no one has thrown up hands in horror at the thought I don't think they would take our offer at whatever level yet because of the buyer without a buyer thing - what I hope to do is sort of register on the radar - and then swoop as soon as it all comes together. It could be a forever house - but there are others in the area that could do to so am not DESPERATE - yet

we bought our house by knocking a significant ammount off the price as it had been on the market for a year plus (very unusual house not to everybodies taste) vendors massively insulted (he built it!) but eventually they accepted!
just ask-you never know

I say put in an even lower offer and then work up to what you think it's worth.

Have a word with the vendor and talk about the uncertainty in the markets, etc. Make them worry about what's going to happen in the next year.

What area of the country are you in?

Presumably you mena she accepted the 900k asking price rather than the 1.2m?

We bought ours at start of year for 35 k less than asking price

and sold our old one for 30k less - so both were 'cheeky' offers in a sense - or probably over-priced to start!!

In a falling market if you are not embarressed making the offer it is too high !

Do it. Nothing to lose!

go for it.
we put an offer in at asking less 15% and it was turned down BUT 2 months later they came back saying were we still interested. We were not and it's STILL on the market at a good £30k less that original price.

Thanks all - well we haven't been able to view as it seems the vendors have fallen out with the agents rather and it is no longer on the market. Had a really good chat with the agent on the phone and it sounds like the agents never wanted to market it at that price, the vendors agreed to reduce it after so long and then refused to do so and they have refused to consider any offers in line with what the property is worth - the agent's view of value coincided exactly with mine!!! (Preens and considers career in estate agency)
So thanks for all your views - it's definately made me think and will be striking a very hard bargain when we next find a house to go for

If you like the house now is the time to put in an offer.... they don't have agency fees to pay an may feel more amenable to your lower offer.

Drop a note through their door!