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?

We won't have to reduce our offer.

yet upthread you said you couldn't take a reduction on yours?

Not cheeky just don't accept. They aren't expecting you to but are testing the waters. No need to be so grumpy about it 🤷🏼‍♀️

Google Bristol house prices OP

This has got to be a troll thread, no one can be that obtuse surely?

Sorry but this is really silly! Of course it's not 'rude' to offer less, even significantly less than the advertised price. The advertised price may not be reasonable, may be ambitious or not reflect current market conditions. Even if its a very reasonable price it's still not rude to put in a lower offer. As pps said, it may be just their opening move, what good does it do you to stomp away from negotiations in a huff?

Do try to be more objective about it. Also current 'nowadays' is very different from last March. Things can change rapidly.

Well then .....why the whiny thread? If what you say is true, your house will easily sell in the next few days

Your house is only worth what someone is willing to pay for it. For some people it will tick all of the boxes and they’ll pay asking (or even over), for others they will feel it’s overpriced as they may need to make compromises/changes so they will offer under. Nobody’s house is perfect for everyone! 50k at that price isn’t an insult, we have offered 10% under before and had it accepted.

You don’t have to believe me if you don’t want to but I can assure you it’s true 😂 You are absolutely deluded/misinformed. Luckily the house PILs bought also lost value so they’re not out as much as they could have been.

That’s not cheeky, it’s always worth asking 🤷🏻‍♀️

www.bristolpost.co.uk/news/bristol-news/bristol-house-price-crash-has-7903688.amp

uhoh OP….

You Google them, they are bonkers.

We can afford it.

without selling your house? 😆

Sold my mothers house in the SE in January of this year for £811k and noticed another house in the village listed with the same agent, same price that month.

Reduced to £800k in February.
Reduced to £750k in July
Reduced to £675k in October.

Still not sold, nice place, great location.

I'd negotiate if I were you.

I think you should accept the offer

Have you priced your home at the price you paid for it? £10k above? £50k above? Did you feel cheeky when you decided on the price?

If you don’t want to consider offers below your listed price, you could tell the EA to add “offers over” to the listing and that you will immediately reject offers that come in under. No point wasting everyone’s time.

@Indablungerlow did you click on the link OP?

No, not at all, in this climate they should be asking for more off, wonder if their lender has valued it yet?

The link says the market has SLOWED not fallen.

You're in denial.things are changing, rapidly.

If it is not good enough then turn it down and it has only been a week. If you don't ask, you don't get, hence the offer.

@Indablungerlow oh love. I’d read it again. You have a world of disappointment coming.

Surely it depends on the state of the property? And also the sharp drop in house prices as a result of higher interest rates that are predicted.

Anyone buying now is likely to be in a much worse situation if they overpay now and then want to sell in a few years as prices are continuing to fall.

I think an offer of less than 10% below your asking price is sensible, TBH, in today's market. It's a starting point for negotiation.

Houses are not being snapped up like they were 2 months ago.

It says prices are expected to go down by 15%. Your prospective buyers can read.

I think MN is so weird on house prices sometimes. All this talk about what % over or under asking price sellers expect, as though asking prices are some kind of objective scientifically calculated thing rather than a combination of seller's expectations and tactics on behalf of the agent. In our area there are two big EAs who have totally different tactics. One tends to set asking prices lower than they expect a property to sell for, which attracts masses of viewings and then often results in a bidding war. The other tends to set asking prices high, their logic being (which I know because they told me during a consultation) that buyers can then offer a bit under "and feel like they've got a bargain". So to me it just feels a bit meaningless to be talking about what % over or under is normal/expected. Houses are only worth what people are willing to pay!

Also we don't even live in Bristol so it isn't relevant to our situation