What is the lowest you can go without being told to **** off?

Hooa

Hooa

Hooa

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There is a cottage I really like the look of for £165k. Love the location but it is about an hour drive from work and the streets are ridiculously narrow so parking will be no doubt be an issue. I have about 15k deposit and could use overdraft for all the fees.

Now they are on the verge of taking it off the market and putting it up for rent (don't know if this is common estate agent talk for you don't have much time). :confused:

Had a viewing today and the estate agent will no doubt be ringing me tomorrow. I want to make an offer of £150k is this a ridiculously low amount or normal negotiation?

Thanks!

:)
 
I am a systems integrator, so it really does vary how much I am in the office. If it is testing for a new system I might be in the office for a month straight however the next month I could be on site for a month and a half.

You are right though, and I guess long term as it can be, if I had multiple children I would probably have to move as it is only two bedroom :p
 
Rich_L said:
Sounds fair enough really.
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Phew, at first I thought I was being really naive :)

EdwardTeach said:
Perfectly reasonable. Personally I would be inclined to start lower, it depends how emotionally invested you are in the property.
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Well when I was younger I used to ride my bikes down there to the river and always wished I lived somewhere so picturesque (grew up on a council estate :o ). I would say not really but now you have mentioned it I guess I am a little bit but not enough to make a wrong decision.
 
Just remember, when you're negotiating a purchase you can only go higher... If you offer £150k and they accept it there's no going back to them with "Oh, but will you accept £145k?". I'd be inclined to start lower.
 
[ASSE]Hinchy;17658228 said:
Just remember, when you're negotiating a purchase you can only go higher... If you offer £150k and they accept it there's no going back to them with "Oh, but will you accept £145k?". I'd be inclined to start lower.
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I understand what you are saying but I thought £15000 below asking was already going to get them put the phone down on me! :D
 
Go in lower and gauge the agent's interest. The owner may be considering renting it out with an eye to then selling it when prices pick up but it's just as likely this is a not so subtle nudge to prompt you to make an offer. As someone else said, don't go in too high, realise you could have got it cheaper and then try to haggle your way back, It won't work. Go in low, and work up slowly. If you get to your 'walk away' price then be absolutely prepared to do just that. It's a house. There'll be other houses.

Good luck and drill the **** out of that estate agent. I hate them, lol :D
 
Just think of what you are willing to pay. If they demand more then just say your not interested no more and see what there response is. If its been on the market a while then they are more likely to come back and say we will accept the offer or just add for like a couple of grand more instead of full asking price. If they dont come back you can always go ive talked it over with family, friends who ever you want to and then make an higher offer to what you think is reasonable to them and see where it goes from there
 
How long has it been on the market?
Has it had any previous offers made?
Any Chain?

If it's been on the market for more than 6 months then 150k sounds like a decent offer, but I doubt you'll get it for that if it's been on there for 3-4 months.
 
Thanks for all the advice! Feel much more confident now and in a way more objective :cool: I now have a walkaway price and it is £150k, I don't know why but it just feels right and I will now start lower :D


Sinny said:
How long has it been on the market?
Has it had any previous offers made?
Any Chain?

If it's been on the market for more than 6 months then 150k sounds like a decent offer, but I doubt you'll get it for that if it's been on there for 3-4 months.
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Okay it was on the market before (do not know long for) and it was taken off the market but right at the last minute the deal fell through (buyer pulled out). So it was relisted and has been on there for a month.

There is no chain as the people who own it have bought another bigger cottage and want to renovate it (using the money from the sale), I guess they now want to put it up for rent to get some guaranteed money?
 
Now they are on the verge of taking it off the market and putting it up for rent (don't know if this is common estate agent talk for you don't have much time).
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Possibly bull from the agent

anyways as above I'd offer £140k depending on the condition of the house, I offered £22k below the asking and got it accepted
 
Our house was up for £145k, I offered £130k first time, they phoned the client and they said no.

I told them I'd offer £135k and that was it. They phoned client and they said no. So I told the wife we were leaving and we did. She was extremely peeved at me as she really wanted the house, however the current owners had told us they had found somewhere amazing and really wanted to get in asap :D

2 days later, the estate agents phoned and said they'd spoken to all the people in the chain, they had agreed to accept less and we paid £135k. Beauty of being a first time buyer!
 
Our house was originally on the market for offers over £145k. According to the estate agent they had 8 or 9 viewings including ours but it was too much money for us.

Several months later it was dropped to £130k.

Still too much money for what we could afford, but we put a stupid offer of £95k in a couple of months later.

Despite our offer being the lowest, the fact we had no house to sell (was renting) and it meant a quick sale, the guy agreed to sell to us.

Tbh the house was over valued at £145k so this was an exceptional case and I don;t advocate going in at two thirds of the offer, but if you are not in a chain and ready to move quickly, especially since one purchase has already fell through, you can make a lower offer than normal especially compared to people in a chain.

So offer £140k. Make it clear that you have no house to sell, you have the full desposit for the mortgage (even better if you can provisionally get acceptance for the mortgage you need) and that you can move quickly.

You can always up your offer.
 
there are no rules when it comes to offers.

ther worst they can do is say , no

but there are variants that come in to play

how desperate the sellers are to sell quickly

how much they really need to accept (ie how much their mortgage is or how much they are buying the next place for)

how long they have been trying to sell it

what situation you are in, ie, if you say you have a mortgage ready to go (or are a cash buyer) and can exchange very quickly


at the moment the property market is siding on the buyers side so dont be afaid to hunt out a bargain
 
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