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fair offers to asking prices

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    fair offers to asking prices

    theoretically speaking ,what would be a fair offer to asking price in todays property market i.e 1% 5% 10% discount on average ???

    #2
    Originally posted by unemployed
    theoretically speaking ,what would be a fair offer to asking price in todays property market i.e 1% 5% 10% discount on average ???
    Depends on the state of house, whether you think the price is fair, the price band (are you near stamp duty threshold), the particular area, your financial position, how much you want it, how much the seller wants to sell it, your relationship with the estate agent etc etc etc
    Last edited by basshead; 29 June 2007, 18:00.

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      #3
      Originally posted by basshead
      Depends on the state of house, whether you think the price is fair, the price band (are you near stamp duty threshold), the particular area, your financial position, how much you want it, how much the seller wants to sell it, your relationship with the estate agent etc etc etc
      it`s not actually me purchasing but a family member, stamp duty threshold is in the 4% bracket so it is fairly expensive to start with. estate agents seems to be mucking about saying they need a quick sale, as the chain broke and we have jumped in with a cash offer of only 15k below asking price, so either the EA is talking shi* or the vendor is extremly greedy.

      just wondered what experiences people have had.

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        #4
        We bought a new build from a developer which was unfinished so not the usual kind of transaction, but we offered 15% under the asking price after having a 20% under offer knocked back but that was for un unfinished but already overpriced house that we knew they needed to sell as it had been on the market for so long. They've been a nightmare ever since though, VAT dodging etc

        Estate agents talk any old sh*te to get a sale

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          #5
          When I put an offer in on that house that fell through it was £160 and the asking was originally £189,000.

          The house was on the market for 12 months, I'll just let it sit there for another 12 then then offer £150.

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            #6
            vendor is asking £575000 and they have been offered 560k cash no mortgage to arrange nothing ! i think they are being a bit tight not to let it go to say the least ,

            it needs new kitchen ,bathroom,walls knocking out ,to open it up and plumbling sorting and some cosmetic bits and pieces. floors doors etc

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              #7
              Originally posted by unemployed
              vendor is asking £575000 and they have been offered 560k cash no mortgage to arrange nothing ! i think they are being a bit tight not to let it go to say the least ,

              it needs new kitchen ,bathroom,walls knocking out ,to open it up and plumbling sorting and some cosmetic bits and pieces. floors doors etc
              They are idiots to knock that back, unless they really really need the extra cash or they have so much interest they think they can achieve the full asking price or more.

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                #8
                we put in offer on house that was on market for £189k. We offered £170k as it needs refurbishing throughout. The vendor said no to that offer but said to the EA they would accept £180k if we offered it.

                I went back with £175k offer and they still said no. We are going on holiday in a couple of weeks for a few weeks so going to wait until we get back then offer £175k again and point out the fact they could have been moving out by now if they accepted the original offer.

                My friend who is an EA said that it is a buyers market at the moment and you shouldn't be affraid to put in an offer that is really low and work your way up from that. If you have no chain then you add more value to your offer.
                Thats the way the cookie crumbles

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                  #9
                  Originally posted by unemployed
                  vendor is asking £575000 and they have been offered 560k cash no mortgage to arrange nothing ! i think they are being a bit tight not to let it go to say the least ,

                  it needs new kitchen ,bathroom,walls knocking out ,to open it up and plumbling sorting and some cosmetic bits and pieces. floors doors etc
                  Property prices are chuffin' ridiculous. I bet that house cost under 250k 10 years ago. Which would have meant only 2.5k in stamp duty. Based on the asking price, they're now looking at £23,000 in stamp duty alone!

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                    #10
                    Originally posted by Cooperinliverp00l
                    we put in offer on house that was on market for £189k. We offered £170k as it needs refurbishing throughout. The vendor said no to that offer but said to the EA they would accept £180k if we offered it.

                    I went back with £175k offer and they still said no. We are going on holiday in a couple of weeks for a few weeks so going to wait until we get back then offer £175k again and point out the fact they could have been moving out by now if they accepted the original offer.

                    My friend who is an EA said that it is a buyers market at the moment and you shouldn't be affraid to put in an offer that is really low and work your way up from that. If you have no chain then you add more value to your offer.
                    down south it is a different matter , there are not enough properties to go round

                    hence rip off asking prices , some sellers are really taking the wee wee though .

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