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?

Why do you think that. My 2nd flat sold for half the price I paid for it in 80s
My ds bought a flat in may that was 25 k less than it was sold in 2017

@girlmom21 she can be offended but she's being silly to be. As has been said repeatedly on here, a house (and anything else not pegged to a solid standard) is worth what someone is prepared to pay for it. An agent has valued it at a certain amount, which is a very inexact science, but it doesn't look so far as if any buyer thinks it's worth that. The valuation was done several months when the market was different. So being offended at a reasonable offer isn't going to get anyone very far in selling their house.

We are completing on our house sale today, and we ended up selling it for over 100k less than the original valuation, because no one would pay the higher price. It would have been lovely to get more but ultimately no one offered less to offend us, they offered less because that was what they thought it was worth.

Why do you think everyone else moves house? To make life worse? To screw over their families?

If you insist on thinking your reasons for moving are somehow unusual and special, and make it anything other than a business transaction as far as you and your buyer/seller are concerned, you're going to have an even more miserable time than you would normally. And you probably won't get the best deal either.

Why would either of those things impact the value of a house?

Are you the OP, per chance? If so then why move at all if you’re so emotionally attached to the place?

The OP has every right to be offended. And I have every right to PMSL.

Last time we moved was because my house was too small for our blended family. We needed to sell it to buy a bigger one. No emotional investment at all.

You lot are weird.

No I'm not the OP. Yes her feelings are justified.

She thinks the house is worth £700k and that someone else is cheeky for offering £50k less.

As I said in an earlier post, I actually bought a house for £50k under asking this year, because that's what the bank decided it was work during the survey. My initial offer wasn't that low.

I get that @Blossomtoes - sometimes there's an emotional attachment and sometimes there isn't.

@girlmom21 yep, 99% of people are ‘weird’ and you’re the 1% that definitely isn’t 😂

Hey, you're the one who doesn't know how house buying works and thinks people use it to take pot shots at total strangers.

Has it occurred to you that if you think it's OK for you to make an offer of £50k under, others might think it's ok for them to do it too?

100% accurate. I've been on here long enough to know that the Mumsnet collective isn't representative of the real world. You know that too

@ReneBumsWombats I don't think anyone's used it to take a pot shot but I'm just saying I can see why the OP was upset by it.

Of course it's ok to offer what you think a house is worth but that doesn't invalidate someone else's feelings.

‘Invalidating feelings’ 🤦🏼‍♀️ this isn’t a topic even worthy of ‘feelings’ so yeah I’m going to invalidate it

If you're worried that the Land Registry is going to send someone round to ensure OP feels a certain way about her house value, please put it out of your mind.

If her feelings are getting in the way of her understanding that this is a business transaction and it's in her best interests to treat it as such - and it looks like she's probably wrong about her house value and what a low offer is anyway - then perhaps those feelings should be invalidated, because they're going to screw her over.

of course i have. my DH and I started off in a one bed apartment and now we have our forever home. we moved numerous times and didnt get emotional about offers.

@girlmom21 you must’ve Been devastated at the hurting of feelings you caused your seller when the bank said they wouldn’t lend that much. So many feelings. 😭

You did offer to make up the £50k out of your own pocket in a repayment plan right? Feelings ‘n’ all.

Is the cold getting to you, bab?

Is that all you've got?

Meh. Makes as much logical sense as her other posts.

I'm not sure why so many people are being nasty to the OP because she thought offer was cheeky.

I'm not sure why so many people are so upset by me saying she's not being ridiculous to feel a certain way.

I didn't know I had to come up with a really clever comeback to arsey posts. It's a strange thread, this one.

I haven't seen anyone be nasty to her. If you have, report the posts.

I don't think you've upset anyone (why, did you want to?), but you're talking the same silly stuff that she is about feelings, as if that's what should guide you when making a business transaction worth hundreds of thousands of pounds in a changing market.

Your feelings don't change the value of your house. An offer below what you want to get isn't a personal slight. What's to gain by seeing every offer in a business transaction as something personal? Does it get you the best possible deal? Does it make the process more enjoyable? Does your potential buyer care?

As soon as you put your house on the market you are entering into a business transaction and the vast amount of people approach it like this.

As long as the house is fairly priced (a 10 minute look on zoopla and rightmove will tell you that), a seller shouldn't be 'really pissed off' at an offer from a buyer WITH NO CHAIN at 7% less than the asking price. Particularly as mortgage rates have rocketed since August.

The fact is that people can see the way the wind is blowing economically in the last 3 months and are factoring in some 'market corrections' in housing- so unless you have something very unique in a hugely in demand area you may not get what you or an agent thinks it's worth. The higher the price , then the more likely someone will go in 5 to 10% under. If you don't want to accept it and can hang around to see if someone out there will indeed bite at asking price- that's fine too - it's not cheeky- it's reality and what you/agent think it's worth is irrelevant if no one is offering it and you need to sell asap

Less than 10% under the asking price isn't a really low offer.

Someone offering £550K would have been cheeky. £650K wasn't. Not that I would be offended if they then came back with a sensible offer when I said no, if they showed they were serious and had the funds etc. As I said above I don't get emotional. If you are serious and will go through with the transaction as agreed, that is all that matters. A cheeky offer is irrelevant. I am more worried about people being cheeky around contract exchange to bully you.

As we saw above, putting in a really cheeky offer can work if you do your homework on the vendor and think they might accept (the person above who bought a new build for £800K ish when it was on for well over £1 million).

But the people advising such a clueless vendor need to make sure they realise it isn't taking the mick.