Active discussions

Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

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:
yoyy · 14/12/2022 16:36

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

and you think the market has improved because?

Hugasauras · 14/12/2022 16:36

I never understand why people take things like this so personally. So what? They offered what they think it's worth to them, it doesn't work for you, that's all there is to it.

Hugasauras · 14/12/2022 16:37

Oh and at that price point I don't think it's cheeky at all. It's sensible.

catfunk · 14/12/2022 16:38

You're not coming across very well op.

yoyy · 14/12/2022 16:38

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

you'll be fine then!

Greenfairydust · 14/12/2022 16:38

It is neither cheeky nor stupid in this market...

You don't have to accept it and there is no need to take this so personally.

Helpusg · 14/12/2022 16:38

I think it’s rare for the first offer to work out. We’ve always had to endure some time wasters and chancers before someone sensible comes along. But we’ve sold in more economically buoyant times. It’s different at the moment. So you may regret taking such offence at this offer OP.

oakleaffy · 14/12/2022 16:39

RudsyFarmer · 14/12/2022 15:54

I don’t think that’s particularly cheeky 😬

Nor do I... They can but try, after all. Market is slowing after crazy hikes well over asking price back in the late summer.

yoyy · 14/12/2022 16:39

Are you downsizing?

Normally price falls make it easier to move up the ladder

Original poster
Indablungerlow · 14/12/2022 16:39

yoyy · 14/12/2022 16:36

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

and you think the market has improved because?

I never said it had improved but its very very buoyant in the south west one look at right move tells you that

I think buyers think they can get a bargain given media hype about the economic situation.

OP posts:
Mildura · 14/12/2022 16:40

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

The cost of mortgage debt quadrupling has not affected the market where you are, just everywhere else?

Come on.... 😂

Paddingtonthebear · 14/12/2022 16:40

Where in SW are you?

Original poster
Indablungerlow · 14/12/2022 16:40

We are in Bath.

OP posts:
coconotgrove · 14/12/2022 16:40

If you don't want to accept less than £700k, stipulate offers must be over that figure. But you have not, so it seems futile bitching that someone had the audacity to offer £50k under 🤷🏻‍♀️

FWIW, £50k under asking, less than 10% in this instance is still a very good offer

yoyy · 14/12/2022 16:40

I think buyers think they can get a bargain given media hype about the economic situation.

Why shouldn't they try though? I'm not sure it's hype! 😆

Grumpyoldpersonwithcats · 14/12/2022 16:41

Of course the housing market won't crash

As someone who lived through the housing crash of the late 1980s / early 1990s. I can assure you that house prices, even in desireable areas, can go down dramatically in the short to medium term.

yoyy · 14/12/2022 16:41

10% under is pretty standard so I think you did well tbh.

Hooverphobe · 14/12/2022 16:42

Tbh if I had an income of 200k I’d be rubbing my hands with glee at what I could afford NEXT year.

Genegenieee · 14/12/2022 16:42

Indablungerlow · 14/12/2022 16:23

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

Have you talked to your estate agent? There are fewer houses coming onto the market so houses are still selling but not at a premium. Buyers are pricing in for a bear market. Hold onto your hat.

sleephelp2022 · 14/12/2022 16:43

Sounds perfectly reasonable to me...

Do you not realise houses are not selling the same as what they were only a few months ago? Times have changed and they are changing fast. Good luck if you think you're going to get over the asking price now.

It's only an offer, don't accept it!

yoyy · 14/12/2022 16:43

@Hooverphobe exactly. Someone with an income like that & no doubt a good deposit are in a very strong position.

RovenderKitt · 14/12/2022 16:43

People don’t ‘need to buy’ though, especially in such a ‘hotspot’. They could just save themselves a few quid and live somewhere slightly further away than your market-defying bubble. By the way I’m also in the SW where I once bought a property at 22% below the asking price. I offered, they accepted, no-one was offended.

Soapboxqueen · 14/12/2022 16:43

10% isn't cheeky. What I offered for my purchase and we negotiated.

It doesn't matter what they earn or what you think the market will or won't do. They will offer what they want and you can reject, accept or negotiate.

If the market is so buoyant you'll have a new offer soon and won't have to worry.

Though I suspect what you are really worried about is that this might be the shape of things to come.

yoyy · 14/12/2022 16:44

I never said it had improved but its very very buoyant in the south west one look at right move tells you that

You can't see current sold prices on Rightmove though, there's a lag.

NeedAHoliday2021 · 14/12/2022 16:44

Bath market has very little for sale and people are expecting inflation to keep increasing so what it was worth in August will be different to now! You surely just respond with “the lowest we would go is £695000” or whatever and they will decide if they’re prepared to do that high?

We offer £320000 on a house that was £355000 but we felt it was over priced. They turned us down and were rude to us about our offer. 6 months later they called and accepted (but we’d already moved at that point). They eventually sold 18 months after our initial offer for £305000. Houses are worth what someone will pay and the market is changeable.