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Original poster

Making an offer on a house

79 replies

Pusstachio · 27/11/2025 22:02

Our house has been prepared to go on the market, we were waiting to list until January. Two similar homes in our development have sold, listed at our price point within 3 weeks recently.

We’ve just seen a house we like, has been on the market 18 months and has come down in price £100k from £690k in that time.

It’s still pretty overpriced, smallest house on the street and 3 bed in need of complete modernisation. A recent 4 bed in turn key condition sold for £725 which I think is why they priced it where they did.

We want to offer £525k, immediately list our house and ask they give us until mid Jan to sell ours. We were also considering offering to do the survey up front to evidence commitment to buy….

Is this a bad idea? We’re complete house buying novices having only bought our original home as FTBs a loooong time ago

OP posts:
Bluedenimdoglover · 01/12/2025 07:17

Rather than speculate here, speak to the EA and ask what offers have been made/refused and whether the buyer is likely to reduce for you. If you were ready to proceed, you'd be in a bargaining position. As it is, you're not in a position at all, until you have an offer of have sold your house

abbynabby23 · 01/12/2025 10:41

Pusstachio · 27/11/2025 22:02

Our house has been prepared to go on the market, we were waiting to list until January. Two similar homes in our development have sold, listed at our price point within 3 weeks recently.

We’ve just seen a house we like, has been on the market 18 months and has come down in price £100k from £690k in that time.

It’s still pretty overpriced, smallest house on the street and 3 bed in need of complete modernisation. A recent 4 bed in turn key condition sold for £725 which I think is why they priced it where they did.

We want to offer £525k, immediately list our house and ask they give us until mid Jan to sell ours. We were also considering offering to do the survey up front to evidence commitment to buy….

Is this a bad idea? We’re complete house buying novices having only bought our original home as FTBs a loooong time ago

Offer what you like! They worst it can happen is they will say no and then you might to offer more if you really want it! Just make sure that you don’t show to the agent that you have room to offer more as they are working for them not you! It doesn’t seem competitive to feel rushed since noone bought for 18 months which is great for you!

Spirallingdownwards · 01/12/2025 10:49

Pusstachio · 28/11/2025 16:26

We’re not using their agent as they are dreadfully understaffed- there’s only about two of them and it’s a nightmare sorting viewings!

We made the offer and they’re going to think about it and let us know on Monday. There is apparently disagreement with one party thinking the market will be extremely buoyant in January post budget and another wanting the sale agreed asap.

I suspect they will decline but I also doubt having hung around it will go before new year, they have not had a single other offer in 18 months.

But you are offering now (before Christmas) and because of their recent price drop so why wouldn't someone else?

I am with the others. I would be saying when you are in an actual position to proceed come back and make an offer then which we will consider at that point.

The budget may mean that more people will move as it wasn't as harsh as it could have been for buyers ie. no stamp duty rises.

KeepPumping · 01/12/2025 14:23

Dbank · 27/11/2025 22:50

Best decision we ever made was offering the asking price on our house 25 years ago.

Sometimes you just have to go for it.

Very different market, this house has been for sale for a year and a half and is obviously overpriced.

KeepPumping · 01/12/2025 14:26

Spirallingdownwards · 01/12/2025 10:49

But you are offering now (before Christmas) and because of their recent price drop so why wouldn't someone else?

I am with the others. I would be saying when you are in an actual position to proceed come back and make an offer then which we will consider at that point.

The budget may mean that more people will move as it wasn't as harsh as it could have been for buyers ie. no stamp duty rises.

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The budget was harsh for employment, people don"t plan to move if their job could be at risk.

rainingsnoring · 01/12/2025 15:11

Spirallingdownwards · 01/12/2025 10:49

But you are offering now (before Christmas) and because of their recent price drop so why wouldn't someone else?

I am with the others. I would be saying when you are in an actual position to proceed come back and make an offer then which we will consider at that point.

The budget may mean that more people will move as it wasn't as harsh as it could have been for buyers ie. no stamp duty rises.

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The OP hasn't said that they only just reduced the price though. She said that it has been reduced by 100k over the 18 months that it has been on the market. It could have been reduced by 25k four time or by 50k twice but there's nothing to indicate that the price was reduced by 100k last week.
I expect that offers will increase a bit post budget but not so much that I would worry if I were the OP. Meanwhile, the jobs market will continue to worsen, as @KeepPumping has pointed out.

Original poster
Pusstachio · 01/12/2025 20:10

rainingsnoring · 01/12/2025 15:11

The OP hasn't said that they only just reduced the price though. She said that it has been reduced by 100k over the 18 months that it has been on the market. It could have been reduced by 25k four time or by 50k twice but there's nothing to indicate that the price was reduced by 100k last week.
I expect that offers will increase a bit post budget but not so much that I would worry if I were the OP. Meanwhile, the jobs market will continue to worsen, as @KeepPumping has pointed out.

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Yes the last reduction was over 6 months ago. We are focussing on Christmas now and getting all our annoying bits of DIY done (plus all the things that have decided to break only once we’ve decided to sell, ffs…) so our house shows really well in January- but will update if we get to offering again!

OP posts:
KeepPumping · 01/12/2025 22:48

Spirallingdownwards · 01/12/2025 10:49

But you are offering now (before Christmas) and because of their recent price drop so why wouldn't someone else?

I am with the others. I would be saying when you are in an actual position to proceed come back and make an offer then which we will consider at that point.

The budget may mean that more people will move as it wasn't as harsh as it could have been for buyers ie. no stamp duty rises.

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"why wouldn't someone else?"
A lot of areas don"t have the demand, not all houses will sell, obviously price cuts attract attention but they have to be decent sized cuts now.

rwalker · 01/12/2025 22:51

housethatbuiltme · 28/11/2025 09:11

Well then they will need to raise a certain amount to cover costs and fees, they literally need money for her ongoing care.

Selling house cheaply when their is care fees could even incur the wrath of the tax man.

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If the council are paying they put a charge on the house till it’s sold there isn’t really a rush

Spirallingdownwards · 02/12/2025 08:53

KeepPumping · 01/12/2025 22:48

"why wouldn't someone else?"
A lot of areas don"t have the demand, not all houses will sell, obviously price cuts attract attention but they have to be decent sized cuts now.

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£100k is a hefty decrease over the course of a year even if in increments. There were no anti house buying measures in the budget. January will bring a fresh market. There is simply no reason why they would accept a low offer and not wait 2 more months.

housemonkey · 02/12/2025 15:04

I honestly don't see why anyone would take their house off the market for an unproceedable low offer. All you're doing at this point is let the estate agent tell any other interested parties they've had an offer (they certainly won't tell anyone else it's unproceedable and low). You're literally just creating a market in a property that's been dead for months when you can't actually make a move! Stop! Wait until your house is under offer! Plus when your house actually is under offer (in several weeks' time) you'll look WILDLY keen on this house.

Mum5net · 02/12/2025 23:48

Declutter your house like mad. Christmas or not Christmas. If you don’t buy this house you’ll buy another. Just get yourself much nearer to bring proceedable and be ahead of the game …

BigBadBarrie · 03/12/2025 00:08

Send the email witht that offer but back it up with the reasons why also

KeepPumping · 03/12/2025 00:39

Spirallingdownwards · 02/12/2025 08:53

£100k is a hefty decrease over the course of a year even if in increments. There were no anti house buying measures in the budget. January will bring a fresh market. There is simply no reason why they would accept a low offer and not wait 2 more months.

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I half agree with your first sentence, 100k sounds like a lot to drop the price of a house by, but if you use one of the various price tracking apps you will see that 50k drops are normal, 100k not unusual, that is one time cuts not drip drip over a year, buyers hardly notice 5k and 10k cuts now. Your second sentence slightly misses the point for me, the UK budget is a side-show in terms of global credit markets, where the bond market goes the UK (and UK mortgage rates) have to follow. This sentence from the link nails it for me......
."It is the story of a major economy stepping away from three decades of ultra-easy money, just as the rest of the world is trying to cut rates again."

Unfortunately the UK property market was built on ultra-easy money, and if you add that the budget wasn"t good for jobs that is two of the foundation stones of the market looking wobbly, the last stone - sentiment - can change extremely rapidly (it already has in my opinion)

https://www.msn.com/en-us/money/other/how-japan-broke-the-world-s-favorite-free-lunch/ar-AA1RA6aG

MSN

https://www.msn.com/en-us/money/other/how-japan-broke-the-world-s-favorite-free-lunch/ar-AA1RA6aG

KeepPumping · 03/12/2025 00:58

Spirallingdownwards · 02/12/2025 08:53

£100k is a hefty decrease over the course of a year even if in increments. There were no anti house buying measures in the budget. January will bring a fresh market. There is simply no reason why they would accept a low offer and not wait 2 more months.

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"There were no anti house buying measures in the budget."

This article seems to think there were;

https://www.homebuilding.co.uk/costs-savings/house-prices/mortgage-rate-rises

The problem with the budget is that it doesn"t address the out of control spending on welfare, NHS etc. or the national debt interest burden, that tends to affect the overall credit rating of the UK.

UK homeowners to face mortgage rate rises from 3.7% to 5%, OBR predicts

OBR warns in their Budget report that UK homeowners, self-builders and renovators face years of higher borrowing costs.

https://www.homebuilding.co.uk/costs-savings/house-prices/mortgage-rate-rises

Original poster
Pusstachio · 03/12/2025 07:54

Mum5net · 02/12/2025 23:48

Declutter your house like mad. Christmas or not Christmas. If you don’t buy this house you’ll buy another. Just get yourself much nearer to bring proceedable and be ahead of the game …

If nothing else it has got the whole family on board with this- two huge boxes of old toys going to the hospice care jumble sale!

OP posts:
KeepPumping · 03/12/2025 13:35

rainingsnoring · 01/12/2025 15:11

The OP hasn't said that they only just reduced the price though. She said that it has been reduced by 100k over the 18 months that it has been on the market. It could have been reduced by 25k four time or by 50k twice but there's nothing to indicate that the price was reduced by 100k last week.
I expect that offers will increase a bit post budget but not so much that I would worry if I were the OP. Meanwhile, the jobs market will continue to worsen, as @KeepPumping has pointed out.

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When you are reducing that slowly though you are just chasing the market down? The houses that sell reduce to a sensible market price quickly and attract buyer attention straight away.

rainingsnoring · 03/12/2025 18:40

KeepPumping · 03/12/2025 13:35

When you are reducing that slowly though you are just chasing the market down? The houses that sell reduce to a sensible market price quickly and attract buyer attention straight away.

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I agree, hence they have only received one, below asking price offer from the OP. I think there's a good chance that she can get this house for her offer if she gets her own house under offer and they haven't had other offers in the meantime.

KeepPumping · 04/12/2025 14:00

Pusstachio · 27/11/2025 22:02

Our house has been prepared to go on the market, we were waiting to list until January. Two similar homes in our development have sold, listed at our price point within 3 weeks recently.

We’ve just seen a house we like, has been on the market 18 months and has come down in price £100k from £690k in that time.

It’s still pretty overpriced, smallest house on the street and 3 bed in need of complete modernisation. A recent 4 bed in turn key condition sold for £725 which I think is why they priced it where they did.

We want to offer £525k, immediately list our house and ask they give us until mid Jan to sell ours. We were also considering offering to do the survey up front to evidence commitment to buy….

Is this a bad idea? We’re complete house buying novices having only bought our original home as FTBs a loooong time ago

Are you up for the work/hassle involved in fully updating a house while trying to live there? Or are you living elsewhere while the work goes on, that would be a different scenario.

Original poster
Pusstachio · 04/12/2025 14:27

Depending on the timing we have a few alternative accommodation options and we’ve priced in 2 months in an Airbnb as a worst case. Having renovated previously were aware 2 months won’t cover all the work but we’d prioritise sanitation.

OP posts:
KeepPumping · 04/12/2025 14:32

Pusstachio · 04/12/2025 14:27

Depending on the timing we have a few alternative accommodation options and we’ve priced in 2 months in an Airbnb as a worst case. Having renovated previously were aware 2 months won’t cover all the work but we’d prioritise sanitation.

Sounds like you are organised and know what you are doing.

Original poster
Pusstachio · 04/12/2025 16:34

KeepPumping · 04/12/2025 14:32

Sounds like you are organised and know what you are doing.

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I know enough to know I’ll question the decision at least 50x before it’s finished 😅

OP posts:
KeepPumping · 04/12/2025 16:45

Pusstachio · 04/12/2025 16:34

I know enough to know I’ll question the decision at least 50x before it’s finished 😅

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Yes, LOL.

KeepPumping · 06/12/2025 22:03

rainingsnoring · 03/12/2025 18:40

I agree, hence they have only received one, below asking price offer from the OP. I think there's a good chance that she can get this house for her offer if she gets her own house under offer and they haven't had other offers in the meantime.

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Yes could work out like that.

Original poster
Pusstachio · 06/01/2026 18:18

So I did promise updates.

The vendor took their house off the market on NYD. We called the agent and they’re planning to relist later in the year, but they will pass on our details if we do become proceedable.

Our house is now on the market for all of three days and we have the opposite issue- 10 viewings up this weekend. We’re worried we’ve underpriced it (appreciate viewings aren’t necessarily offers). We have gone on for ‘Offers Over’ so have some flex but any experience or advice here appreciated- of course I’ve queried with the agent.

OP posts: