Offering on a property - give me your good news stories

[Frankie789]

Another offering thread, I want to offer just under 7% off, property been on since Sept and was reduced in Nov, it’s lovely but needs work doing to it. We could increase again by another 10k or so but we could do so much in that house with that.

please give me your good news stories on a similar offer!

Oooh me!

My home was up for the same as a fully renovated 4 bed, 2 bathroom bungalow so really overpriced!

I offered 13% less than the asking price (I knew this was more than others had gone for but prices had gone up and this one had a lot more land). There was a bit of to and fro.

But as it turned out the bank agreed with me.

Despite what some think your house is only worth what someone will pay you for it

By the time we offered on ours it had been reduced twice over the course of 6 months. Great location and 'bones', livable but in need of full renovation

We offered 10% under and settled on 6%

It really depends on the sellers circumstance, in our case it was 4 siblings selling their parents house and I think by that point they just wanted the money!

I would reduce by 10% as an initial offer and cross your fingers. Wish you luck, it's a buyers market ;)

Not the same market, but illustrative of what can happen.

I offered 20% under the requested price of a US property that had been on the market for over 3 months, and asked the vendor to pay costs. It was a ridiculous offer because I wasn't emotionally invested in the outcome.

Offer fully accepted without negotiation. So ignore people who say you can only offer up to 10% off. Just offer what it's worth to you.

Ohh interesting thanks all. It’s been reduced by £20k which works out as 2.5% that was after two months so I assume it had very little interest and it’s been 2 months since that reduction. We’re in a good position in that our buyer has completed and moved in with family so can move whenever so no huge chain. The property we want the owner is approaching 90 and wants to move into something more manageable, I don’t want to take advantage of a situation but would like the extra cashflow

I offered 15% off a probate sale of a project. It was very much a seller’s market at the time, but it had been for sale for some time. I worked out the cost of renovation and the likely value after, factored in a very small profit, made my offer and waited. The agent kept trying to bump us up, but we were cash buyers and in no particular hurry, and nor was it a dream home for us, so we refused to budge gor about two months. It was over winter, costing them money for insurance, low level heating, maintenance etc so they blinked first.

It's not about taking advantage. House buying is transactional. They can accept it or not.

Put the offer in you feel comfortable with.

We managed to negotiate 5% off our current probate project house after initially going in at 10% under. That was in mid 2024.

At the same time we offered 15% under asking on another (very overpriced) project. The deluded elderly vendor who'd never lived there but had a large portfolio of similarly squalid rentals, refused to take more than a couple of percent off. We loved the house but the numbers didn't add up for us, so bought the other instead.

The deluded one was subsequently subjected to a cheap reno by the elderly vendor and put back on for 100k more. She's still struggling to sell.