Jump to content
House Price Crash Forum
Sign in to follow this  
gingernator

Making Low Offers

Recommended Posts

Hi

Just joined this site as been searching what a "low" offer means....

We're looking in Leeds at houses around the £230k mark.... we've seen one we like which has been on market for 3 months (currently rented out) which has dropped from £250k to £235k. Looks like it was bought in 2001 for £95k....which according to Nationwide Index means it's worth around £192k now....and similar ones on same street sold for £249 in Jan 08...which would mean it should be worth £216k (according to nationwide)...

So, would an initial offer of £205k (30k under asking) seem massively cheeky? We can afford more than this, but figure we'd need to do some work on it, knock through kitchen/dining to put new kitchen in, new bathroom etc....

We've sold our house (subject to contract of course) within a week of it going on market - had 2 asking price offers!

Any help appreciated!

Share this post


Link to post
Share on other sites

Sounds fine to me. Most people (outside this site) consider 10% under asking the threshold between "cheeky" and "taking the p1ss". On this site people are unsurprisingly more pragmatic and say you should offer as low as you like even if that's 30-40% off. I don't think an offer in the current climate at the level you suggest is too cheeky at all, it's what, about 15% off, which is definitely appropriate. I'd suggest though that the vendor probably has a level of around 215k in mind for where he'd really want to sell it. Good luck.

Share this post


Link to post
Share on other sites
Sounds fine to me. Most people (outside this site) consider 10% under asking the threshold between "cheeky" and "taking the p1ss". On this site people are unsurprisingly more pragmatic and say you should offer as low as you like even if that's 30-40% off. I don't think an offer in the current climate at the level you suggest is too cheeky at all, it's what, about 15% off, which is definitely appropriate. I'd suggest though that the vendor probably has a level of around 215k in mind for where he'd really want to sell it. Good luck.

Thanks - we've subsequently looked and the school nearby is not great...so back to drawing board - seen a £244k house so need to do the research on that now to see what we can get it for!

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   291 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.