If I like it what do I offer?

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I had a thread on here a couple of weeks ago about whether, in our circumstances (both disabled), we should buy before selling our house. Thanks to the helpful advice, we have finally decided to go for it!

The home that we need is very specific to our situation: ageing, disability and chronic illness. There are very few suitable properties in our area. So I am visiting a house this week. The price was recently reduced by about £20,000. If I like it, should I offer the asking price? Apparently, other people are looking at it as well or is that just the estate agent’s white lie?

It’s a very long time since we last moved and I am not sure how to go about things these days! Any suggestions or advice are really welcome. TIA

If you like it and it is suitable , I would say offer the asking price but say that they must take it off the market. DS was about to be homeless as her house was sold and we went to see a house that was just right. It had been reduced in price and we offered the asking price on two conditions: a) it was taken off the market and b) they were out in 6 weeks. The estate agent told them it was an offer they couldn’t refuse.

@Rocknrollstar thank you for your reply. That’s very helpful.

I wouldn’t offer the asking price in this current market without at least trying to save a few thousand pounds. It has only been reduced by 20k because the sellers were getting little interest at the previous price.

The EA is probably telling the truth that other people are interested in viewing it now it has been reduced but they may not be in a position to proceed even if they like it, or may have a more limited budget than you.

I don’t know the asking price but I would certainly try to reduce it by a little something even if only 10k or 5k.

Do you know how long it has been on the market for? That's fairly relevant to what price to offer. Also, what percentage of the asking price the 20k reduction is. 20k off a £1 million house is a different ball game to 20k off a £150k house. Have you looked at sold prices for similar properties in the area, if there are any?

Thank you both for your advice @AgathaX and @Twiglets1 . You have given me a lot more to think about. The house is a one-off design, so there’s nothing to compare it with. We know the area quite well, so that’s OK. It’s 20k off £420,000, if that helps.

I’m not sure long it has been on the market. Probably since last summer.

So they have reduced it by about 5% - your offer could be reduced by the same amount again & you could try offering at about 380k. As long as you would feel comfortable paying that amount, of course. That could start negotiations.

Thanks to you all!

Well, we went and had a good look around. A lot fitted our needs really well, but there was a massive issue. So, in the end it wasn’t right for us. Never mind!

Onwards and upwards. I just hope some more suitable houses come along soon before either of us lose even more of our health and strength!

Aw, sorry this wasn’t the right house for you but hopefully you will find what you want soon.