"offers over" - what to offer?

[Jampot]

Ive been looking at houses generally and there's another house I wouldnt mind offering on. Its been dropped by 20k and now says "offers over £299k". It looks vacant to me and has been on for quite a while. Should we still offer 30% below asking price in any event? We have v large deposit and are in rented.

We know of a couple of places that we've views that have been "offers over" and we've found out since that they've taken 10-20K below that price.
Do you really want the hassle of doing up such a nasty place? The owners are completely barking to expect 300K in the West Midlands unless it's a complete palace (or would be if it was done out OK).

They bloody well ought to bite your hand off actually at that rate given the state of it and the market. Igf they bought it ages ago they will almost certainly still be making a profit and really ought to take the money and run if they've got any sense. The W Midlands isn't going to be immune to the recession.

Stand your ground I offered 200 for a 300 property and had to go up a bit but the agent advised them to take my offer so wait it might not be over just yet!

West Midlands was first area to stagnate and then record falls so they would be mad not to give yor offer some consideration. Trouble is, vendors often are.

We went to view the property again last weekend and in the afternoon the agents called me to tell me they had an offer and did we want to offer. I said we would only go to 215 as given the amount of work that needed doing and the declining market it wasnt worth anything more to us. She apparently put hte offer forward but they wont consider it - which is fair enough.

I'd keep your eye on it, though. Chances are you haven't seen the last of it on the market...