Stupidly low offer

[Indablungerlow]

Selling house. Only been on the market a week or so. Received an offer of 50 - yes 50k below asking price. Really pissed off someone could be that cheeky. Anyone else received cheeky offers lately?

When you bought it for £400K what was the asking price? I bet you offered less originally. So why is it so unreasonable for others to do so?

We offered 75k under on a £825k asking price about 10 years ago. We were stretching ourselves. They came back and accepted 775k. Nothing wrong with the house, but we couldn’t afford asking price. They didn’t have to accept the offer but I’m so pleased they did.

@ OP

‘We won't have to reduce our offer’

Your house is only worth what it sells for. You’ve already had a sale fall through. Market is different now.

early days with your second shot at marketing. I wouldn’t discount it and hope you have more offers in the next week.

the fact you’re probably offering over the odds on your purchase is your problem. You need to concentrate on selling yours. The offer is within offer etiquette.

Your comments suggest you’ve never sold before.

but best of luck with your move.

People can put in whatever they like, you don’t have to accept. Doubt they will get anywhere near what you want though so I wouldn’t bother engaging much with them

THE OP IS NOT IN BATH

There are a few posters here who have not read the thread.

She lied about being in Bath.
She said she doesn't want to reveal the location but it's SW and 'near' Bath.

I understand your anger, three years on I'm still furious with myself about my sale, I was too scared I'd run out of money and my fear showed. I was on for £400K, buyer offered £355K. Apparently EA said they had priced the house (Listed Grade II, 264 sq m) to reflect the renovations needed. Buyer had a survey and reduced his offer to £305K. He charmed the females at my EA who felt so sorry for 'X' spending SO MUCH money on the survey, it would be a goodwill gesture if I paid for his damp/timber survey. Stupidly I did - and spent my Christmas food savings of £300. EA got him back up to £330K.

When the damp/timber survey came back he asked for even more money off and offered £285K or I could do the roof/replace all ground floor floorboards and his mortgage company would 'inspect my work' and perhaps lend him £330K. I left the EA and withdrew from the sale because I also thought he couldn't afford it. Afterwards I found out he was a developer, and was buying two houses at the time. Tragically I sold to him at auction, but I decided the price of my freedom from worry was priceless.

Sounds sensible, given property prices are falling. I would agree in desirable places you won’t see the 29-30% falls that other places might see, but they’ve basically done a reduction of less than 10%.

you hold out for what you want, but beware that if you hold out too long you might have to accept even lower after the full winter of discontent.

1. Your EA is well schooled in telling you what you want to hear.

1. Its not just what people can afford. If they think its not a good time to to buy, they wont buy. They are not obliged to offer you what you want.

1. At the end of the day you don't have to accept an offer. You just may not get another one, so if you are ok with deciding not to sell right now that's fine.

We bought a house for 50k under asking. We put our offer in in February and completed in July.

We sold ours within a week for 5k over asking.

Two completely different areas/houses/conditions.

Only sold two properties here. Sale price £34,000, offer , accepted £30,000 which was actually the going rate for that property. Second time - on for £90,000 accepted £83,000 - had accepted higher offers previously from time wasters, but knew lady was serious as she phoned with offer within an hour of seeing. So personally, I wouldn't say it's an immediate no. Go back and see if you can negotiate.

I offered 50k below. Didn't get it. I don't know why you're annoyed. If you don't want to accept, just say no - what is the issue?

For a start your house hasn't been on for just a week, as you had a previous listing and people will see that.

You had a sale fall through, they aren't insulting you they are making a reasonable offer if you don't like decline, they are no way insulting you.

A house is only worth what someone is willing to pay and proceed with, you can have loads of offers but if the mortgage company says it's only worth a certain amount that's it.

I think you need to wind your expectations in a bit and not be a housesellazilla

They're not saying they can't afford it, they're just looking for the best deal in the current very different housing market. You're in danger of cutting off your nose to spite your face if you refuse to even engage, you may not get another offer!

Not cheeky I offered more than 10% off the asking price on the house we own now. It was the start of the last recession 2009. And we got it!

We already rejected their offer.

PS we were attractive as chain less buyers.

I do think it's worth a counter offer Indablungerlow.

We countered with 5k under asking.

So why are you still thinking about it?

You're going to make the process even more stressful than it needs to be if you take everything as a personal insult and keep stewing about it.

It's possible that's what they wanted. You knock off to add on, you add on to knock off. It's just haggling and either of you can walk away if you don't like it.

Hang on a minute, you bought the house for much less that you are asking for.
You have said that you will be able to afford the amount you have offered on the new house.
Does that mean that you could afford to sell for £650k but don’t want to?

Remind me who is cheeky and greedy again?

This has got to be a wind-up 😂

Glad I'm not the only one who gave in and looked 😁👍

Either OP is lying about where she lives or lying about the asking price.

Did a search of a 20 mile radius of Bath and next to nothing of 700k and those that were did not sell for 400k in 2012.

Looks that way, nobody’s this clueless, surely?