Offering under asking

[thelma57]

We’re looking to make an offer on a house today priced at £295k. We’ve have a mortgage offer already for this value and a cash buyer for our house,
lots done on file already due to last buyer pulling out.

We’re thinking of offering 2k under, the house nextdoor when for £13k less than they’re asking for last year and another on the street for much much less but this property has a lot of
new features.

Just wanted some thoughts! We’re in greater Manchester!

Is there much other interest? I’d go in at 290k.

Go for it. I always find these kinds of threads interesting because everyone has such different expectations when it comes to pricing their home... My home is on the market at the moment, and I have priced it in a way that means I would accept 10%ish under. Other sellers would be offended at being offered that much under!

Good luck OP!

Absolutely standard. Most people would start lower than you.

We did wonder about going in £290k at first, we’ve accepted £5k under asking on our house sale.

They did only buy it for that not too long ago but haven’t done the work on or in it, that was before.

In terms of interest it’s been on since at least October last year and they’ve changed agents in that time it seems!

I would probably offer £287 initially to give you room to move.
On since October seems quite a while so they may be open to.an offer

I'd go in at £280, it's been on a good few months and if they've not been there that long they might be needing to move quickly.

Okay we’ve gone £290k given the recent updates and how much we love the house, EA speaking to the vendor - will update 🙏

290K is a really sensible offer OP, they'll likely say no but then I'd say "Alright meet you in the middle of £292.5K" and that may be acceptable for them. Not always of course but it worked for us. Ultimately a house is worth what someone is willing to pay for it. Good luck.

They accepted £290k! 🎉🎉🎉
I was worried to go in at that as that’s what they paid a couple of years ago but it just goes to show you shouldn’t make assumptions! Now hopefully things actually progress as we’ve already had a sale fall through due to losing our buyer!

Good luck @thelma57
The sellers were wise to accept your offer as their house has been on the market for several months already and the market has been slowly falling in most places (I think Manchester has held up well compared to Southern areas) and likely to worsen- see economic news in the last few months. I hope it works out for you.

I would have agreed 290k is a good offer and I'm pleased to read that it got accepted - Congratulations!

Amazing! I've never heard of a seller accepting the first offer before. I'm so glad they've accepted it though it was a very good offer.