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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:
AreOttersJustWetCats · 14/12/2022 16:29

Indablungerlow · 14/12/2022 16:28

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

Show quote history

Then wait for a better offer. 🤷‍♀️ But don't try to kid yourself that they are being "cheeky", because they aren't.

yoyy · 14/12/2022 16:29

We need it to up size

stop taking advantage...

Original poster
Indablungerlow · 14/12/2022 16:30

yoyy · 14/12/2022 16:29

Just think it's awful people are taking advantage

But it's ok for you to take advantage?

How am I taking advantage

OP posts:
NevergoingtoNCdad · 14/12/2022 16:30

Indablungerlow · 14/12/2022 16:28

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

Show quote history

So perhaps if yours doesnt go fast... maybe the it has affected the market?

yoyy · 14/12/2022 16:30

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

so you've sold then?

AreOttersJustWetCats · 14/12/2022 16:31

yoyy · 14/12/2022 16:29

We need it to up size

stop taking advantage...

😂

Original poster
Indablungerlow · 14/12/2022 16:32

yoyy · 14/12/2022 16:30

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

so you've sold then?

No but its only been on a week as I've already said

OP posts:
yoyy · 14/12/2022 16:32

@Indablungerlow are you really that stupid?

TokyoSushi · 14/12/2022 16:32

Oh OP! Grin

Grumpyoldpersonwithcats · 14/12/2022 16:33

Of course the housing market won't crash

OP - What makes you believe that?

yoyy · 14/12/2022 16:33

No but its only been on a week as I've already said

a previous sale fell through though?

Original poster
Indablungerlow · 14/12/2022 16:33

Grumpyoldpersonwithcats · 14/12/2022 16:33

Of course the housing market won't crash

OP - What makes you believe that?

Supply and demand

OP posts:
yoyy · 14/12/2022 16:33

this has got be a joke thread

outdooryone · 14/12/2022 16:33

Indablungerlow · 14/12/2022 16:01

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

Show quote history

You cannot judge other people's finances or position. What if they have need of one of them to stop working? Maybe a baby on the way? Maybe they have debt, support a family member, etc. Maybe a job is at risk. They could also just choose to not live a life of debt slavery.

I just placed an offer of £40k below a £270k asking price on a house which needs a full renovation.

It is actually a realistic price - I actually spoke to a friend who is a builder locally and they agreed on the renovation estimate. My offer price + my renovation estimate = £10k below the same house on the same street...

I think too many people are used to prices going up and up, basically adding a few more £10k to what they hope for etc. There are some brutal realities of negative equities, higher interest rates, job losses and low salaries that are going to bite. Now is not a buoyant time for many to be buying or taking on more debt.

OhPeggySue · 14/12/2022 16:34

Goodness op, you're very angry. People can offer what they want. It's not a slight on your character. If houses are selling fast in your area for the asking price, then you surely only need wait a few more days. Oh, wait.....

yoyy · 14/12/2022 16:34

Supply and demand

and interest rates have no impact?

Original poster
Indablungerlow · 14/12/2022 16:34

yoyy · 14/12/2022 16:33

No but its only been on a week as I've already said

a previous sale fell through though?

Yes but that sale was agreed in August and only fell through as buyers lost their deposit

OP posts:
orangegato · 14/12/2022 16:34

Less than 10% reduction is in no way cheeky. Houses are grossly overpriced thanks to the government over the last couple of years, I know as I overpaid by 70k! Bet the house has made a fair few quid, suck it up love

Mindymomo · 14/12/2022 16:35

My friend has been trying to sell her DMs house since last January, it’s sold twice at asking price and fallen through both times. Now Estate Agent says it’s overpriced and she has now accepted an offer 5% off asking price. 10% below asking price is normal for negotiation.

Paddingtonthebear · 14/12/2022 16:35

Also in south west here, where we were still being outbid when we were going £20k over asking in the summer, and deals were done on day one of being on the market . If it’s the case that everything else around you is still selling at full market price on the first day of viewings , then your house isn’t priced correctly unfortunately.

Tessasanderson · 14/12/2022 16:35

You say the house hasnt been on the market long.......how long will it take for you to reconsider? 1month takes us to January. 3 months takes us to March. 6 months takes us to June.....How long before that £50k doesnt look so cheeky?

1 year ago houses were selling same day. The economy and market have moved on. Now you have put your house up for sale in the worst month of the year, after a sale fell through and calling someones genuine offer cheeky.

Fair enough you dont have to accept but then you also need to accept that there is a big possibility you are wasting your time listing your house.

Original poster
Indablungerlow · 14/12/2022 16:35

yoyy · 14/12/2022 16:34

Supply and demand

and interest rates have no impact?

Yes but supply and demand is the dominant factor, people will always need to buy

OP posts:
DreamingOfAGreenChristmas · 14/12/2022 16:35

Don’t take it personally.

It’s normal.

Tell the EA to tell them you will leave it in the table and review after another x weeks of viewings.

Then you can go back and negotiate if that proves best.

yoyy · 14/12/2022 16:35

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

The key part is it's irrelevant what people can afford, it's what they are prepared to pay.

I wouldn't worry though, you will sell in 2 weeks for over asking. I'm sure of it!

Cuppasoupmonster · 14/12/2022 16:36

Indablungerlow · 14/12/2022 16:35

Yes but supply and demand is the dominant factor, people will always need to buy

Show quote history

They don’t actually - or rather, can’t. Hardly anyone will be able to get a a mortgage under the new interest rates at least at an entry level. And people buying more expensive properties are stress testing the hell out of their budgets. It wasn’t going to keep going up forever.