IF a property is worth £99950 what is a realistic offer price?

17
Found 7th Jun 2015
Just wanted to know just as an example... if a property is on the market for £99,950 then what is a realistic offer price? (To be taken seriously). Obviously the price of the house is the eye of the buyer and what the seller can part with but I know not to pay the asking price. I know if that was the price of the house then I'd want to negotiate on the price but I don't want to go too high and be told wasting time etc or dont want to go too low and miss out on potentials.

I was thinking £90,000 with the above example that works out 9.95% approx. deduction. Is that too ambitious? Just wanting to know experienced peoples views are.

Also if people use estate agents can you by pass them and ask a home owner to do private sale (saves them agent fees I presume) or are they tied in contract with agents once they give agents permission to sell.
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While I wouldn't say I'm experienced I have friends and family who have bought a house.

It all depends on how much you want the house as well.
If you go in low the worst they can say is no and you can then just increase it.
It also depends on how eager they are to sell the house. If they are in a rush a lower offer may be accepted and vice versa.

It's all a game trying to get something you want for the smallest amount possible!
Start at £90k, but its unlikely you will get it for that.
How long has it been on for? etc
I'd start off with 85k, they can either say yes, no or possibly offer a counter at 95k if they are looking for a quick sale. Aim to meet in the middle.

Problem is, estate agents. They are only interested in getting the maximum they can get to get the maximum commission possible. This will lead them to deny/lie about your offer, sometimes to the extent of not even informing the sellers of your initial offer. Don't forget their is a reason why they have such a bad reputation and are mistrusted by many.
Go onto Zoopla it will tell you the SELLING price of other similar houses in your area. Estate Agents always over value property as they charge a % of the selling fee rather than a fixed fee.
depends what they have said. is it fixed price, offers over. in the region of. also what does the home report say... if they are selling for 99k but the house is values at 110k they might not come down also use zoopla what do homes in area go for.... also let your agent do some work if you really want it they should discuss what they think is an alright offer...
doritos

Start at £90k, but its unlikely you will get it for that.How long has it … Start at £90k, but its unlikely you will get it for that.How long has it been on for? etc



Since 26 October. I know if I go low there may be room for negotiation.

Taliban_Army

I'd start off with 85k, they can either say yes, no or possibly offer a … I'd start off with 85k, they can either say yes, no or possibly offer a counter at 95k if they are looking for a quick sale. Aim to meet in the middle. Problem is, estate agents. They are only interested in getting the maximum they can get to get the maximum commission possible. This will lead them to deny/lie about your offer, sometimes to the extent of not even informing the sellers of your initial offer. Don't forget their is a reason why they have such a bad reputation and are mistrusted by many.



Could do £85k think thats would be rejected but counter-offers and the like etc.
- I know the agents are all about commission and will use their sales tactics etc.
- Can I always just write to the property owner and ask them directly to go through privately? Or is that not allowed if they are using an estate agent?
rubytuesday0203

Go onto Zoopla it will tell you the SELLING price of other similar houses … Go onto Zoopla it will tell you the SELLING price of other similar houses in your area. Estate Agents always over value property as they charge a % of the selling fee rather than a fixed fee.



Zoopla Info:
Avg. price paid: £110,473
Just typed the street into it and there are 3 other houses one at £165k but that has 1 more bed, Guide price £110k, 3 Bed £109k
Listed Since October 2014. So been on market for 6 months now.

justanothercid

depends what they have said. is it fixed price, offers over. in the … depends what they have said. is it fixed price, offers over. in the region of. also what does the home report say... if they are selling for 99k but the house is values at 110k they might not come down also use zoopla what do homes in area go for.... also let your agent do some work if you really want it they should discuss what they think is an alright offer...



This one is 3 bed with offers in region of £99,950. On the agents website it says offers around that same price.

That means there is room to play?


My house was up for 125k I offered 110k & they went with it so definitely go in with a low offer. They may want a quick sale.
£93k coming up to £95k, market is very good at he moment due to buy to let investors.
just put it up here and you will get answers like "bought 10 will sell the rest on" and some will vote cold as its not as big as Buckingham Palace
some might even say "cold not an iphone"
Are you a cash buyer who can complete quickly? If so point of this out to the seller and put in a silly offer (85k) they can only say yes or no.
On rightmove how many agents is it listed with ?

Zoopla is fine for sale prices but truly awful for valuations. It currently has my house at £50k more than the bigger house next door. I'd offer £90k and look to pay £92-94k
Mouseprice is probably the best place for a realistic selling price.
Do the owners live there? If so, arrange another viewing and just ask them. Tell them you are serious but can't afford the asking price and what sort of figure are they looking to accept. I'm sure if you come across as serious they will tell you what they will accept. Tell them if you can put in an offer straightaway as long as yo have an idea what they want.
5k under, that's why they call me Terry Tibbs
Edited by: "benjammin316" 7th Jun 2015
Taliban_Army

Problem is, estate agents. They are only interested in getting the … Problem is, estate agents. They are only interested in getting the maximum they can get to get the maximum commission possible. This will lead them to deny/lie about your offer, sometimes to the extent of not even informing the sellers of your initial offer. Don't forget their is a reason why they have such a bad reputation and are mistrusted by many.



Um, what are you expecting them to do? They're agents working for the sellers, their job is to use their expertise to get the best selling price they can. If they judge that the buyers are willing to go higher, or the house is likely to get two such offers every week then there's nothing wrong with them turning down the offer directly without informing the seller.

krazyasif786

Listed Since October 2014. So been on market for 6 months now.



As others have said. It really depends on the seller. Presumably at £100k it's a fairly cheap, easy to sell property so if it's been on six months that may mean the sellers are keen to get the asking price.

Don't define your expectations by their asking price. You're looking to pay no more than you would for another, similar house so you don't go any higher when you feel you can get another house for what you're currently offering. If their asking price seems on par with what other houses are going for then it could be reasonable to offer it.

And bear in mind that in some parts of the country prices are inflating so fast that an asking price set six months ago is already several percent lower than it would be today.

I wouldn't worry about low offers though. As long as you're not increasing it by £1k every time it's rejected then you're not going to make a nuisance of yourself.
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