Offers, what’s acceptable?

6 replies

Babachew · 04/08/2024 20:45

I am really keen to gauge an idea of what is acceptable when putting an offer in?

5% under? 10%? Of course there are many variables in this question, but I’ve just sold my home for 8% under the Guide Price.

Advice welcome, TIA.

OP posts:

SmileySelina · 04/08/2024 21:19

I think it depends on purchase price and how long it’s been on the market whether they will entertain a below asking price offer.
Also how realistically it was priced to begin with and how keen they are to sell, some people are in no hurry and happy to wait until they achieve the price the want/need to move on.

NewFriendlyLadybird · 04/08/2024 21:32

People are always asking this question and the answer is always the same: it depends.

We can never know how or why the sellers arrived at the asking price they did. All the prospective buyer can do is offer what the property is worth to them.

LindaDawn · 04/08/2024 21:40

It depends on which type of property is more sought after. I think flats are a difficult sell at the moment with landlords selling up, cladding issues etc so more likely to get an offer accepted under the asking prices but a 3 bedroom semi is usually always sought after and less of them for sale so often there is no need for a reduction. Some houses are already realistically priced and some aren’t.

Twiglets1 · 05/08/2024 06:55

Anything up to about 10% off the asking price is a reasonable first offer but whether the owner accepts a low offer is a completely different story & will depend on how much interest they are getting in the property, how long it has been on for and other factors. Some owners will expect to get very close to the asking price and that may or may not be realistic depending on whether it was valued realistically in the first place. So as always, it depends.

Blueuggboots · 05/08/2024 07:26

We offered 14% below and were accepted, but the house had been on the market since Jan 2023 with very few (if any - the EA told us varying stories depending who you spoke to so not convincing!) offers and the house needs a lot of work.
Having been watching house prices over the last 6 months, there is definitely a reduction...

Papricat · 05/08/2024 22:23

As low as you feel comfortable with.

Flip