Would you offer lower than asking price if

[buttnut]

The property had been up for sale for a few months?

Yes

Yes

How much discount would you expect? (I know it’s all relative but just an idea) eg. House has been up 400k for just over 5 months, what sort of offer would be realistic

350..obviously look on right move sold prices to see what other similar properties have sold for

I’d always generally offer lower than asking price on any house. But if it’s been up for 5 months then that suggests asking price is far too high so agree with @Grmumpy that £350K would be reasonable.

No. I'd mark them down as unrealistic timewasters, save the property, and wait for the price to actually drop.

But then my viewings involve at least a 5 hour round trip.

I’d offer 375 on a 400 property, although I’d research and decide what I thought it’s value was in relation to sold properties in the area (not under offer).

It's hard to say without knowing how the property compares to others currently for sale or just sold in your area.

But probably somewhere in the region of 350-375k.

Thanks everyone

We are looking and there seems to be quite a few houses around that have been up for months but not reduced their price

10% is completely reasonable imo, but try and have a chat with the EA: they are paid by the seller but may offer advice based on the fact they want their commission.

The estate agent will want an offer because he then gets his commission. A reduction in sale price will affect that commission only by a few hundred pounds.
Depending on your position, I’d offer 10% less.
A flat near us has been reduced by 15% since going on the market 5 months ago ( and it wasn’t particularly overpriced at the time!!)

We have just done the same on a slightly higher value property. I have to say though people don't seem to want to hugely negotiate I find. They just don't seem very realistic.

I think many people coming onto the market are aware things are slow and will be prepared to wait it out a bit. Then again, if they are motivated to sell quickly for a particular reason they may be more willing to negotiate. I'd think if they have priced at 400, they'll be hoping for 380.

We offered about 10% lower on a house that has been on since April. No offers. They said they wanted higher and we have decided to wait.