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Original poster

Stupidly low offer

557 replies

Indablungerlow · 14/12/2022 15:51

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?

OP posts:
Itsbiasedhere · 14/12/2022 16:20

The market is falling by over 6k for the average house last month according to Halifax. The housing market is cyclical we are definitely in a period of significant falls now. Personally I wouldn't chase the market down. In a falling market those that transact first get the best deal as a seller

boboshmobo · 14/12/2022 16:21

The market has dropped since 6 months ago .. sealed bids are not happening now

I'd offer low , you just decline .. no big deal! Why do people get so offended ??!!

Retrievemysanity · 14/12/2022 16:21

That’s not cheeky. We put an offer in of £60k below asking price and it was accepted. You never know unless you try. We had our, very valid, reasons and the estate agents agreed with us. Thankfully the seller did too eventually.

reallydoihaveto · 14/12/2022 16:21

We had a sale fall through and the next offer was £100k down. Frankly in this market we were grateful for that offer (house £1.2), but having agreed the sale, it just fell through again. God knows what we’ll end up having to accept to get it sold. So depressing- if only we’d been on the market last spring!

Hooverphobe · 14/12/2022 16:22

Cuppasoupmonster · 14/12/2022 16:17

Violin just shrank again

Show quote history

im going to be needing to re-use that quote. 😂

Original poster
Indablungerlow · 14/12/2022 16:23

I dont see signs of the market changing at all, places are still selling

OP posts:
ItMustBeBedtimeSurely · 14/12/2022 16:23

I’d negotiate if I were you. In this market the sooner you sell the better and you’re unlikely to get what you would have six months ago unfortunately.

Or wait a few years.

Thedoglovesmemore · 14/12/2022 16:23

This is hilarious!

Most sensible purchasers will offer around 10% under at first bid.

most sensible sellers will sense a deal and try and negotiate.

if it’s really not what you want just say no.

Your level of emotional reaction and in fact indignation is ridiculous. It’s a business transaction. Saying you won’t even negotiate as you are so offended is so childish.

Hooverphobe · 14/12/2022 16:24

Indablungerlow · 14/12/2022 16:23

I dont see signs of the market changing at all, places are still selling

Yours isn’t…

Original poster
Indablungerlow · 14/12/2022 16:24

It wasn't six months ago the original offer was made in August

OP posts:
yoyy · 14/12/2022 16:24

That's not a stupidly low offer!

It's stupid to not offer under in this market imo

Original poster
Indablungerlow · 14/12/2022 16:25

Hooverphobe · 14/12/2022 16:24

Yours isn’t…

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It's not been on the market long only a week

OP posts:
yoyy · 14/12/2022 16:25

We had it on previously at the same price and were offered 10k over, sale fell through. This was only a few months ago so don't believe 50k under is reasonable sorry.

hold out then

AreOttersJustWetCats · 14/12/2022 16:25

Indablungerlow · 14/12/2022 16:25

It's not been on the market long only a week

Show quote history

Your sale fell through though, didn't it? As is common in a troubled market.

user1468656818 · 14/12/2022 16:26

Indablungerlow · 14/12/2022 16:23

I dont see signs of the market changing at all, places are still selling

Yours isn’t for the price you are looking for?

SeveruslyFrazzled · 14/12/2022 16:26

Retrievemysanity · 14/12/2022 16:21

That’s not cheeky. We put an offer in of £60k below asking price and it was accepted. You never know unless you try. We had our, very valid, reasons and the estate agents agreed with us. Thankfully the seller did too eventually.

It is cheeky when it’s not warranted and it’s more than 20% reduction in the house value imo… but if you don’t ask you don’t get.

Paddingtonthebear · 14/12/2022 16:26

House prices have changed a lot since October this year. We lost 4 houses purchased in the last 18 months for various reasons and the last two (offers accepted 6 months before) fell through in August and October because our sellers both had their previously agreed mortgage offers withdrawn and couldn’t afford the more expensive onward purchase.
Both those vendors pushed offers over asking price, so you could argue that had they been less greedy they might have been able to move after all 😆 The current house we are hoping to buy was about to exchange last month but the sale fell through as the previous buyer lost both their buyer and their mortgage rate so had to stay put . We viewed it and we are now purchasing the house for £15k less otherwise the whole chain collapses.

Times have changed and over asking is the exception now, not the norm. Even in hot areas where normally everything sells in a day. Everything is being reduced where we are and it was not at all like that even in September, I should know, we’ve viewed over 30 houses in the last 18 months, made 10 offers and all but one was at or under asking price and we got outbid on nearly all of them 😆

If you feel £50k under is taking the piss then why not go back and suggest some thing that meets in the middle? If they don’t think the house is worth it then you just have to move on and wait for someone who does but in this climate it may not be quick.

yoyy · 14/12/2022 16:26

I dont even want to negotiate tbh if they think it was appropriate to come in with an offer that low

and this is one reason why house buying & selling is so shit in the UK 🤦🏻‍♀️

yoyy · 14/12/2022 16:27

The buyer's were on combined income of over 200k don't tell me they couldn't afford increased interest rates

🙄😆

AreOttersJustWetCats · 14/12/2022 16:27

Indablungerlow · 14/12/2022 16:24

It wasn't six months ago the original offer was made in August

Before Liz Truss's mini budget then? 😂 The world has changed significantly since then, as you must have noticed!

NevergoingtoNCdad · 14/12/2022 16:28

Indablungerlow · 14/12/2022 16:23

I dont see signs of the market changing at all, places are still selling

Perhaps an offer 50k under is a sign?
When we bought we offered 40k under and it was accepted. But that was at a time when nobody was paying asking prices. A year later and a friend had to offer over to get on the ladder.

The market goes through peaks and valleys... Most would say we are seeing a dip in the housing market at the moment.

Original poster
Indablungerlow · 14/12/2022 16:28

AreOttersJustWetCats · 14/12/2022 16:27

Before Liz Truss's mini budget then? 😂 The world has changed significantly since then, as you must have noticed!

Show quote history

It has not affected the market near us, we are in the south west where everything goes very fast and prices are still rising.

OP posts:
donquixotedelamancha · 14/12/2022 16:29

I dont even want to negotiate tbh if they think it was appropriate to come in with an offer that low
**
Why see the house if you can't afford it
**
Just think it's awful people are taking advantage
**
We need it to up size

Surely this can't be for real?

yoyy · 14/12/2022 16:29

Just think it's awful people are taking advantage

But it's ok for you to take advantage?

Paddingtonthebear · 14/12/2022 16:29

forgot to mention, down valuations are increasingly common so that’s another factor.

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