Making Offers on Houses
Discussion
Borris-Bear said:
Just wondering, generally, what people are finding is a normal offer on a house at the moment is 10 - 15% below asking considered fairly normal?
what sort of offers have you been getting on your property?
I just bought a house in a good area. The asking price was £300k. My intial offer was £240k (20% off - rejected). Then £249,999 (16.7% off - rejected). Then £260k if seller pays uplift in stamp (13.3% - accepted).what sort of offers have you been getting on your property?
So in my very specific case the range was 13-20%.
my experience has been -20% offer rejected followed by a load of twerps bidding it up past the asking price (which was a bit strong in the first place)
followed by
a nice well priced house with offers of -15%, -11% and -8%(fvck it it would have been ideal for us and still represented c2004 pricing) all being rejected.
i think if it's a nice place, well located where there's not much on then you'll find someone to pay up. i think if you're talking newish flats than it's got to be half price
!
also larger towns with loads of identical houses are where there's deals to be had. i het the impression we could get a decent enough house with a lot off if we were looking in MK or northampton. looking in the nice villages in between has reduced the stock down so much that there isn't actually enough to buy. so not wanting to over do it we're just going to have to hold out...!
followed by
a nice well priced house with offers of -15%, -11% and -8%(fvck it it would have been ideal for us and still represented c2004 pricing) all being rejected.
i think if it's a nice place, well located where there's not much on then you'll find someone to pay up. i think if you're talking newish flats than it's got to be half price
!also larger towns with loads of identical houses are where there's deals to be had. i het the impression we could get a decent enough house with a lot off if we were looking in MK or northampton. looking in the nice villages in between has reduced the stock down so much that there isn't actually enough to buy. so not wanting to over do it we're just going to have to hold out...!
We just had someone offer 15% under but our place only went on last week and we'd already priced it accordingly.
I'm almost tempted to put the price up, in this market people want to feel they've got a bargain, if you can concede that 15% to them and still be happy you'd be on to a winner.
I'm almost tempted to put the price up, in this market people want to feel they've got a bargain, if you can concede that 15% to them and still be happy you'd be on to a winner.
We are going to look at some houses this weekend and was wondering the same thing. As we are in rented and have no chain to bring with us, we were thinking that must be worth an extra £5-10k off on top of a 10/20% reduction. I suppose will depend on how desperate the seller is. Will let you know how things go and if we offer!
we're having a second viewing of a place on Sat priced at 360k. Found out the property next door sold in Nov 2007 for 360k (though it doesnt have an extension that this one has) makes me think the property is a bit over-priced in the first place.
Was wondering if we decided that it was for us that maybe going in with a 310 - 312 was taking the pee.
Was wondering if we decided that it was for us that maybe going in with a 310 - 312 was taking the pee.
You should'nt try to establish a "rule of thumb" percentage figure( either above or below ) the asking price as there is no consistency in how the asking price was established in the first place.
The price could have evolved as the result of careful professional analysis or could have come straight off the top of the seller's head with a sizeable margin added for good luck!
The best course of action is to have the property valued by your own "independant" and to then put in an offer as to what you think the property is worth.
The price could have evolved as the result of careful professional analysis or could have come straight off the top of the seller's head with a sizeable margin added for good luck!
The best course of action is to have the property valued by your own "independant" and to then put in an offer as to what you think the property is worth.
We're in a fairly ok position having bought our current house about 4 years ago reasonably cheaply as it was in need of major renovation. Managed to do all the work ourselves with family help so still have reasonable equity in the current house.
The move is to find our, hopefully final, family home so i guess it doesn't matter too much if prices come down as long as we can afford the mortgage. Just dont want to pay over the odds for it.
The move is to find our, hopefully final, family home so i guess it doesn't matter too much if prices come down as long as we can afford the mortgage. Just dont want to pay over the odds for it.
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