What's an acceptable offer if going under

[AlexisP90]

Sold our house and looking for our next home. When we purchased we went over by £15k - that was the market then.

Market in the area we are looking to move to seems varied. Some get reduced a few times before selling, others go quickly.

Seen a house we do like. It's on for £400k. It's slightly bigger than one which sold for £375k recently. Only very slightly...

If we went in at £370k Is that too cheeky? What's the etiquette here? When we were first time buyers the market was very different. I know we can offer and they can say no but just looking for general views...

Obviously depends on their situation etc if they could accept it of course but what's deemed acceptable enough generally without massively offending

How long has it been on the market? We offered 25k under on ours been on a couple of months and they accepted 20k under.

Anywhere between 5 to 10% under seems reasonable. The worst they can say is no.

I think a starting offer of 370k is perfectly acceptable. Though it’s likely they will want you to go a bit higher to secure the house.

I think you need to work out by researching if the house is reasonably priced and how much you want the house and then offer accordingly. If there are plenty of other houses around that you like then you can offer on those if this offer is declined. Good luck.

go for it, you can always go up if they say no, but you can’t ever go down if they say yes

If its new to market and in good nick you are unlikely to find they agree much under at the moment - perhaps 10 - 15k - but you have to try it lower. If there's lots of choice around you can always leave a lower offer on the table and walk away. They may come back to you!

As PP says do your homework first and find out if you are working with a overpriced property or a realistically priced one.