Whats a sensible offer? (houses) :( *updated* :D

Discussion in 'The Lounge' started by jenna, Jan 23, 2008.

  1. jenna

    jenna Well-Known Member

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    weve put 2 offers in that are £9,950 less than the asking price (109,950) and theyve both been rejected because there too low. I was wondering if any one knows whats usually a sensible amount to take off?
    My mum said that 10k isnt really a lot and she accepted an offer that was much more off the asking price than that when she sold her house. No ones accepting our offers at all, unfortunatly we cant offer anymore but i feel like either we are being unreasonable or weve just managed to find really fussy vendors? :?
     
  2. NickyB

    NickyB Well-Known Member

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    I've always thought you took or offered about 10% below asking price, but that doesn't seem to happen these days. When we bought our current house they only took £2k off, I'm surprised that people market their houses and don't expect to have to drop a little.

    I've found that people always offer ridiculously low prices when you're selling but when you're offering the vendor doesn't seem to want to negotiate.

    I would've guessed that if they market the property at £109k, they'd be looking for £105k and if you're lucky £100k. You might have someone like our last owners though who want £107k!

    Good luck, it's not fun til you complete, then you can worry a little less!
     
  3. leckershell

    leckershell Well-Known Member

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    I don't know cos we were wondering the same thing, though we were told a 124,500 house would have probably accepted a 116,000 offer...

    But I don't know I'm afraid. You have extra leverage in that the housing market at the moment is unstable and houses aren't selling so (we were told) a lot more "silly" offers are being accepted at the moment.
     
  4. Babylicious

    Babylicious Well-Known Member

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    I'd offer about 5 grand less than the asking price
     
  5. Fluffy Bunny

    Fluffy Bunny Well-Known Member

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    It would probably depend on the sellers position as well ie if its just gone on the market they'll probably be holding out for near the asking price. If its been on the market a while or the sellers have somewhere they want to buy they may want a quick sale and take a lower offer.

    You are in a good position though if you've got nowhere to sell and are first time buyers with a mortgage in place, it means you could move quickly and there would be no risk of the chain breaking down from your side, thats probably worth 2-3 grand in negotiating money! :D
     
  6. Lola's Mummy

    Lola's Mummy Well-Known Member

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    We only got 2k off ours but there wasn't much on the market in our price range and the area we wanted.
    I was 5 months pregnant when we made an offer on our house so we was in a bit of a rush to buy somewhere and have everything ready for the baby :D
     
  7. jenna

    jenna Well-Known Member

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    where going to look at another thats £9,950 over our kinda price but its been on the market since last june and the owners seemed desperate to sell it last time we looked. Im just hopeing that if we decide to put an offer on theyll accept it :wall: its all so confusing and stressful, you have to get the right feel for a house otherwise its probably not a good idea to buy it but then when your offers not accepted its just horrible. :|
     
  8. Snuggle

    Snuggle Well-Known Member

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    I'm putting my house on market for £147,000 and wont take less than £145,000 :wink:
     
  9. mary70

    mary70 Well-Known Member

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    we had to pay full asking price for ours but housing market it rubbish at the moment, i would try £7000 off
     
  10. mum2be?

    mum2be? Well-Known Member

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    no one is buying at the monment, house sellers are getting itchy

    but it does depend on each seller how mcuh they except usually 2-5k lower
     
  11. mayday

    mayday Well-Known Member

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    I would recommend you ask the estate agent to suggest a reasonable offer. They should suggest a price that they will then recommend to the vendor to accept. If you are the only interested buyers at the moment and the house has been on the market for a while you should be able to come to a final figure both of you are happy with.

    Do remember thought, that the asking price is exactly what it says - the price they are asking. They are not obliged to give any discount if they are happy to wait.

    In the last 13 years I have bought 4 houses and sold 3. Each time I have moved up the property ladder I have sold my house first and moved into rented with a mortgage arranged in principle so I am a proceedable buyer. My first house I paid the asking price for. When we sold it we got our asking price for it. My second house we bought for 3k below the asking price and sold for 2k below the asking price. My 3rd house we bought for 5k below the asking price and sold for 2k MORE than the asking price (2 interested buyers.) My current house I bought for 75k (yes, seventy five thousand pounds :shock:) MORE than the asking price. There were 16 bidders trying to buy it, and we had to have an interview with the vendor as he wanted a family to live there. It's a unique property in a rarely available area and a lot of developers wanted to knock the cottage down to build a huge exec home.

    The price you end up paying for a house is dependent on the market, but you have to come to an agreement with the vendor. There is no set rule for how much to offer.
     
  12. jenna

    jenna Well-Known Member

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    75k :shock: blimey!!
     
  13. jenna

    jenna Well-Known Member

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    blundells called and said one of the vendors has called back and said they are looking at there finances and may accept our offer :shock:
     
  14. Tangerinedream

    Tangerinedream Well-Known Member

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    oooh good luck :cheer:
     
  15. Rosieroo

    Rosieroo Well-Known Member

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    The biggest amount we got knocked off was from 134950 to 131000, our current house we paid just over the asking price to secure it as it was being bought by someone else (for the asking price).
    If they accept your offer that's fantastic! And down here £10K is A LOT of money to knock off of a house of that price.
     
  16. jenna

    jenna Well-Known Member

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    Talk about meant to be... :shock:

    we put an offer on a house on the 19th january and they called back stright away to say it was rejected! we looked at the same houses same area and put another 2 offers in both rejected.

    We got an offer accepted last week on a totally different house, its fantastic! its less bedrooms (only 2) but its got a massive garden and they accepted £100,000 (was on at £109,950)!!!! :cheer: :cheer:

    The estates agents on the 1st house called us back today to say our offer was accepted for the property :lol: (we made the offer 3 weeks ago). The vendor told them the same day that he would accept the offer. Looking at the pictures now im so glad they didnt call back before now.

    How bizare though that theyve taken so long to tell us? the vendor is so angry :lol:

    Yay us! (Will post pictures of our new house later) So hope everything goes ok, got a meeting with out mortgage advisor tomorow :cheer: :hug:
     
  17. Emma58

    Emma58 Well-Known Member

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    :cheer: :cheer:

    That's great can't wait to see pictures :D
     
  18. jools221181

    jools221181 Well-Known Member

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    :cheer: :cheer: That is briliant news! :cheer: :cheer:
     
  19. mary70

    mary70 Well-Known Member

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    where is it hun and congrats :dance:
     
  20. jenni32

    jenni32 Well-Known Member

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    :cheer: :cheer: Good news Jenna!! Well Done!
     

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