How much lower to ofer on a house

Right, after having an offer on the table for my house that im thinking of accepting.

I am in the process of veiwing propertys, how much lower have people offered on houses and what is the norm.

Any help would be appreciated

27 Comments

Depends how long its been waiting to be sold xx

And how quickly the owners want to sell....

and whether there's a chain involved xx

Original Poster

Say its been on the market a couple of months, no chain

hithere;6979098

Say its been on the market a couple of months, no chain



I'd say about 10% of the asking price to come in at and negotiate from there x

Ppl are prolly hoping you'll accept their first offer

if there's no chain then they have no real reason to hurry the sale - so i can imagine they would want the asking price - especially in this market ! i know, i have just taken mine off sale as the agent wanted me to drop it another £15k from original asking price... errrr NAH !!

house prices have risen about 6% during may and September of this year.

Original Poster

so if a house up for £160,000 a good price to start at would be £144,000. would that not be classed as a checky offer!!!

hithere;6979144

so if a house up for £160,000 a good price to start at would be £144,000. … so if a house up for £160,000 a good price to start at would be £144,000. would that not be classed as a checky offer!!!



cheeky... but certainly something to consider... they may come back and say... not for under 150.

hithere;6979144

so if a house up for £160,000 a good price to start at would be £144,000. … so if a house up for £160,000 a good price to start at would be £144,000. would that not be classed as a checky offer!!!



it really depends on how good the house it tbh. id go for about %5 under the price, mabye 7.5%, I work in property btw.

Original Poster

My house was on for £220,000 and have been offered £207,000 after a lot of negotiating and that is there best and final offering no chain.

Would anyone else take this or want more?

£13,000 seems a big drop especially with fees on top!!!! but my house has been on the market for 6 months!!!

hithere;6979173

My house was on for £220,000 and have been offered £207,000 after a lot o … My house was on for £220,000 and have been offered £207,000 after a lot of negotiating and that is there best and final offering no chain.Would anyone else take this or want more?



Thats very much a personal choice isn't it.

Depends how much you want to move.

I certainly think it's a viable option xx

Original Poster

This has all given me headache and be glad when its all over!!! moving is very stressful!!!!

Original Poster

black gerbil1;6979125

house prices have risen about 6% during may and September of this year.



Have they gone up by that much???? I thought they were still on the down

hithere;6979282

Have they gone up by that much???? I thought they were still on the down



news.bbc.co.uk/1/h…stm

My house was on sale and we accepted a lower offer than the asking price (to reflect the current climate). However when we then started looking at properties to move to , no-one was prepared to reduce. So we would have been paying more for a house no better than we currently have. We decided to reject the offer. Our house is still on sale but we wont drop the price. Luckily we are in no hurry to move.

Original Poster

Thats what im dreading, ive come down but will other sellers?

hithere;6979352

Thats what im dreading, ive come down but will other sellers?



Put some offers in if you see anything you are interested before you accept the offer for yours.

I agree its a nightmare, I put an offer in of the asking price with completion within 6 weeks, I have no chain and the other house is empty. They accepted my offer but are still marketing it and have a list of over 10 people interested. Very stressful as I have paid out fees now but if someone comes in with a higher offer I am screwed :-(

Banned

hithere;6979173

My house was on for £220,000 and have been offered £207,000 after a lot o … My house was on for £220,000 and have been offered £207,000 after a lot of negotiating and that is there best and final offering no chain.Would anyone else take this or want more?£13,000 seems a big drop especially with fees on top!!!! but my house has been on the market for 6 months!!!



overpriced in the current market if its been on that long

if the one you ar elooking at is on at £160k I'd start around £150k

Original Poster

Probably!!! so not that bad an offer i supose, but hope i get a good deal on one i find!!

Original Poster

fireheaven;6979422

Put some offers in if you see anything you are interested before you … Put some offers in if you see anything you are interested before you accept the offer for yours.I agree its a nightmare, I put an offer in of the asking price with completion within 6 weeks, I have no chain and the other house is empty. They accepted my offer but are still marketing it and have a list of over 10 people interested. Very stressful as I have paid out fees now but if someone comes in with a higher offer I am screwed :-(



At least you are in a good position, good luck.

Banned

what are the stats on your house?

i'm buyin at the mo

Original Poster

3 bed detached

Banned

hithere;6979781

3 bed detached



what city?

I am thinking of putting an offer for £200k in for a 3 bed terraced in london but the problem is it doesn't have an upstairs bathroom so after putting one upstairs the left over space wont be another bedroom.............. :-(

Original Poster

bykergrove;6979946

what city?I am thinking of putting an offer for £200k in for a 3 bed … what city?I am thinking of putting an offer for £200k in for a 3 bed terraced in london but the problem is it doesn't have an upstairs bathroom so after putting one upstairs the left over space wont be another bedroom.............. :-(



birmingham

Banned

hithere;6980060

birmingham



hmm £220 seems expensive. I was going to buy a detached property in bham for £170k a few months back but decided against it as it would be hard to manage (i'm buying to rent out)

Original Poster

Its nice part of birmingham though!!!

Supermod

There is no "norm". Consider:

1. What can you afford?
2. How long can you see yourself living there?
3. Is it the right property?
4. Is the area somewhere you can see yourself living comfortably?
5. Want to develop the property? Check planning office etc.

Let us know what you decide to do..

Best of luck!! xx
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