Would you make a really low offer on a house or would you worry it would damage your reputation with Agents etc?

[artichokes]

We have seen a house we love.
It is 17% over our maximum budget.
It has been on the market since November (although was taken off over Xmas).
It is gorgeous and IMO the asking price is fair.
Would you bother offering 17% below asking price or would you worry that it would damage your reputation as serious buyers?

I just don't see signs of a crash around us. Last month we sold our Brighton flat within 24 hours of going on the market (at 3% below asking). We have put our London house on the market this week and had 5 viewings yesterday (no offers though, so maybe I will eat my words). But our neighbours got an asking price offer within two weeks when they went on the market last month.

The most noticable thing about the market in our part of London is that there is very little to see. People just aren't selling.

where are you in london artichokes? things definitely picking up round here (hackney).

I'm the other side to you HC. West London. Hammersmith/Shepherds Bush/Chsiwck area.

i am in brighton and things are definitely either sticking or dropping You must have priced it reasonably to sell that quick.London is always different in a downturn due to shortage and people just want to live there.

in that case i have zero local knowledge to impart .

Artichokes, are you making an offer before selling yours then?

The relative positions of buyer and vendor seem to have the greatest impact on prices at the moment.

Chain free buyer + desperate vendor = big discount. However, that desperate vendor could be you if you go for this house before you sell.

Its a good point Brummie. We have two properties that we are consolidating into one big property. We have sold one (about the exchange) but we have only just put the other on the market.

I apprecaite that we are therefore not that attractive an option as buyers. I am just crossing my fingers we get an offer quickly. As I said below, our neighbours have just received an asking price offer within a fortnight of being on the market. If we a relucky enough to follow their lead then we could be very attractive buyers within a few weeks. If that happens then I may well make a cheeky offer on the dream house.

It's really hard when you fall for somewhere.

We've just had to pull out of buying a property we LOVED because the mortgage company down-valued it and the vendor had left themselves no room to maneouvre on price because they've already 'spent' the money on their next place.

But there will be somewhere else. There always is. And in the meantime, the money's in the bank earning interest and paying a large part of our rent.

Interesting to hear that london's market is holding. Brighton's starting to drop because the pre-Xmas vendors are now starting to discount.

You shouldn't care what an estate agent thinks of you. Unless you are married to him/her!

and even then you shouldn't worry too much

I'd hold your nerve for a few weeks longer to give your home a chance of getting an offer and then offer low - if the other house is still on the market by then, they will probably be getting very nervous and will definitely consider.

I wouldn't give a hoot about offending agents - I didn't even know that was possible.

I would make offer. You have nothing to lose by doing so and if they say no then at least you know you tried your best to secure it reather than perhaps finding out through grapevine someone else got it for silly money.

I sold house last year and got lots of silly offers. Although offers were ridiculous our agent always acted like it was a good offer and i should accept it.

Quite annoying as agents are supposed to act on behalf of the seller but they often don't and as someone said previously if they can get a quicker sale with a small cut on their commission they will go for it.

One thing they may do though is intially say no to see if it definately definately is your top price and leave you to stew a while. You could pretend to also be interested in something else also and depending on whether they accept offer depends whether you would progress with other house. That way they may think they'll lose you by declining offer. It is naughty though.

On another note a friend of mines parents were property developers and always went in low. I was told once that its surprising what people will accept sometimes if they really want a sale.

Go for it, I would.

Im in Solihull and houses are sticking and prices are dropping - admittedly quite a lot were overpriced as it was. We've completed on ours last Friday and are now in a rented house. I was in the process of buying a repossession but have pulled out today as I am worried I may not be able to sell it on. I want to be in as good a position as possible to buy my next house. I looked at a house today that I looked at in mid-December and she is now looking at a 20k reduction in price. THere are several ex rental properties I have my eye on which I know are sitting empty and have been since before xmas. I wouldnt worry about offering 15-20% below the price now. In fact if you go onto the rightmove website you can check back to 2000 to see if the house was sold and for how much -