How Low Can You Go

[SueDeNimm]

People. Advice/opinions requested. Please feel free to speak your mind, I shan't be offended.

If you were to make an offer on a property, what kind of % would you be knocking off the asking price at the moment as your initial offer? I'm thinking property advertised at £170k start at £130K? 76% ish?

In my town there are only a handful of properties I'd be looking at - what happens if I get a reputation for taking the p*ss?

Or, would that be not taking the p*ss enough. Should it be further down. This is Fylde coast area BTW.

[I Told You So]

People. Advice/opinions requested. Please feel free to speak your mind, I shan't be offended.

If you were to make an offer on a property, what kind of % would you be knocking off the asking price at the moment as your initial offer? I'm thinking property advertised at £170k start at £130K? 76% ish?

In my town there are only a handful of properties I'd be looking at - what happens if I get a reputation for taking the p*ss?

Or, would that be not taking the p*ss enough. Should it be further down. This is Fylde coast area BTW.

Theres probably no point in making low offers at the mo they will be turned down flat, unfortunately you will just a to wait a few years when joe public will have seen constant downward falls and repos being knocked out cheap.

[Given Up]

You can't really generalise. Some houses will be overpriced (not keen to sell) others will be lower (very keen to sell).

Look up last price paid foir a similar property & if it was in the last 12 months then offer 10% below that. It has nothing to do with the asking price.

Edited January 16, 2006 by Given Up

[Leodhasach]

Theres probably no point in making low offers at the mo they will be turned down flat, unfortunately you will just a to wait a few years when joe public will have seen constant downward falls and repos being knocked out cheap.

Ha, do your HPC duty and make low offers! Vendors getting low offers, and eventually being forced to accept one, is what will drive the asking prices down. In fact, maybe we should have a low offer day - every HPCer goes out and offers 70% of asking price on a house, in a blatant attempt to manipulate sentiment.

[BuyingBear]

I wouldn't be making offfers at this stage of the market, nothing unsettles an estate agent like deathly silence and nothing rattles a seller more than no viewings. If you go into an EA office and the phone hasn't rung within the last 30 seconds they get all panicky.

Just bide your time, otherwise they think you're pee'ing them off.

[AteMoose]

dont offer Oh and do your morgage calculations on what your offering first is it above or below what your renting at?

[bazzzzzzz]

People. Advice/opinions requested. Please feel free to speak your mind, I shan't be offended.

If you were to make an offer on a property, what kind of % would you be knocking off the asking price at the moment as your initial offer? I'm thinking property advertised at £170k start at £130K? 76% ish?

In my town there are only a handful of properties I'd be looking at - what happens if I get a reputation for taking the p*ss?

Or, would that be not taking the p*ss enough. Should it be further down. This is Fylde coast area BTW.

If a vendor accepted an offer from me of 10% over 2000 prices I would probably buy if the place was perfect. But there is no way in this world a vendor would accept such an offer so I'm living in fantasy land.