fatscoobyfella

What do you offer as a 1st offer on a house you want to buy?.

net says 10% off original house price to be deducted as 1st offer..

Is that about right in todays house market climate??


I personally want the house for about 8k(5%) under asking price...is this acceptable on a 160k house???

brumdaisy

Personally I'd say the net is talking ***** bottom line is that you can offer what you like. If your offer is too low then it gets refused - it doesnt matter you just go back with a higher price and so on.... but if you want 5% off then yes go in first with a 10% less offer then hopefully you split the difference and both feeling like you're the winner.

Dont forget its a volatile market many sellers are anxious to see if they really get what their property is valued at... and there may be all sorts of circumstances you dont know about - they may need a quick sale, it may have been valued at less than that but they want to have a go at getting a bit more....

Of course I wouldnt recommend that you geta couple of mates to put in really low offers that would be wrong

Crazy Chick

I've been looking to buy a new house and, at the price it was for sale at I was going to put in an offer £7,500 below the asking price. Went on the net last night to check on the house and they've reduced it to the amount I was going to offer them.

Will I get away with offering them less again?

camk

investigate how long has it been on the market, offer less they can only say no. I would not be offering asking prices at the moment if I was buying, I'd be going in with 20% under and expecting minimum 10%, depending on circumstances

David Lock

Seller may also be interested in when you could complete deal. So, for example, you have cash and could complete quickly then make sure seller knows as that could help. Finding out seller's plans i.e. he has deposit on new build and wants to move ASAP can only help you in your negotiations. Best of luck. dl

Jay m A

iTrader: (2)

TBH there's no rules to it, its all circumstance. If the house has been on the market for months then they may accept an offer that would have been refused in the 1st week. It really depends on how deserate they are and how strong your position is, obviously ftb carries some wieght.

Terzo 333

I've just bought a house that was on the market for £479,950 for £456,000...

Boost II

iTrader: (1)

The way the market is around here (south Herts) nobody will take 10% less than asking from me despite the fact that I am chain free, currently renting.

Generally if they want to sell quicker they will drop the price a bit but still expect to get near what they are asking.

I reckon many more people would consider 5% less although some will still refuse. Certainly in the most desirable areas I have been out bid on houses and watched them go for OVER asking price

Things have really picked up since beginning of the year.

fast bloke

virtually everything goes for over asking price over here. Make a stupid low offer. They will think you are a complete ****, but it will put them on the back foot. Then offer 20-25% under asking price. Worst case scenario is that they say no. No-one ever refused to sell a house at the right price, so all you need to do is find out the right price.

fatherpierre

There's no real set rule as different areas have different traffic in house prices, demand etc.

I offered 15% under the list price of my last house and it was accepted straight away as it had been on the market for over a year. Sold it after 14 months for a whopping profit LOL.

Deep Singh

Is it just me or does that make no sense? Where is over here?

fatherpierre

Me too.

A beer or 5 too many..........

Clarebabes

In Northern Ireland