Seen a house I like... what to offer??

[hf128219]

Seen a house I like. Been on the market for 2 weeks and just been reduced by 10%. Plan to view it again. If I still like it, what would you offer? The asking price? Another 5% off? More? Thoughts please!

what is the local market like?

Why has it been reduced so quickly? Are they looking for a quick sale?

Are you in a good position i.e. can proceed quickly as i think that makes a difference

Another 10% off.I had an offer 10% off their absolute minimum accepted but am pulling out today because i think i am paying too much as things are so bad atm so i think you will have your offer accepted and if they have dropped 10 after only 2 weeks they need to sell.Good luck x

The local market is relatively stable - although 10% reductions seem very common.

I really don't know why they have reduced it so quickly as they said they hadn't found anywhere yet. But maybe they were playing it cool. I was certainly playing it cool when we viewed it - trying not to look keen!

Yes, we are in a good position. Nothing to sell, mortgage agreed etc.

go 15 % under and see what happens (then you have some room for manouvere)

mortgage in place and no chain is worth a lot

go 15 % under and see what happens (then you have some room for manouvere)

mortgage in place and no chain is worth a lot

10% reduction isn't relatively stable and most people would wait longer than 2 weeks to reduce.You are in a good position to haggle

Well what I mean by relatively stable is that people have more realistic pricing. 10% reductions taking it back to 2007 prices.

Prices are widely accepted to be at least 30% over priced 2007 prices were ridiculous and unsustainable so they need to fall further for banks to confidently lend on them.If you have no chain and an agreement for a mortgage they will bite your hand off

This is the problem with nethouseprices.com etc - prices of sold houses don't appear for months after the transaction.

There was a very similar house on the same road that sold within a week of being on the market. I am dying to find out what they got for it! The estate agent won't tell me.

I know they never will so annoying!

look at propertysnake.co.uk for its postcode

I'd go 15% under too

Have been keeping a very close eye on property snake! Love it!

you are a buyer that most people selling would dream of putting an offer in. you are in SUCH a strong position in this market. you could put offer in of 50% under asking and they would consider it! seriously go LOW and work up from there...the agent will be desperate to sell too so might give more away than they should. push hard -i would in your position!

You can pay £2 on the land registry website and see the sold price fairly soon after.

www.houseprices.co.uk let you see sold prices really soonish