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Property offer

  • Thread starter Priscilla Barlow
  • Start date
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Priscilla Barlow

New Member
If a house is advertised for 275K in Cheshire and it's been on the market for 4 months, can I make a first offer of 245 or is this too little and rude?
 
N

nmb

Well-Known Member
What have you got to lose?

All of the doom and gloom forecasts after Brexit might see some sellers accepting lower offers. At the end of the day they can only say no and in that case they would be foolish not to at least initiate talks with you.

Might be worth checking the price of similar properties in the area.
 
KGeeson

KGeeson

Property Forum Staff
Forum Partner
If a house is advertised for 275K in Cheshire and it's been on the market for 4 months, can I make a first offer of 245 or is this too little and rude?
Hi Priscilla,

welcome to the forum! I've actually just made a 'cheeky' offer on a property i'm interested in which was £30k below the asking price. If you can, have some reasons to justify your offer (rather than just getting it cheap for the sake of it). For example, what are the actual 'sold' house prices on the same street in the last 6 months for similar properties? Does the property need any work doing to it (you can justify deducting it from the asking price)? Ask about the situation of the vendor... has the property been for sale for long? Are they keen to sell? Has there been lots of interest? Also, if you are in a good position to move fast it will put you in good stead. The worst they can say is no and you can always go up on an offer! :)

Let us know how you get on! (I'm still negotiating on mine! ;)
 
Nicholas Wallwork

Nicholas Wallwork

Editor-in-Chief
Staff member
Premium Member
As Kelly says get more info before putting in your offer and do your research... don't fire off offers from the hip. Also think about the "terms" of the offer, these are nearly as important as the price for buyers. Examples of preferential terms may be a longer delay between exchange and completion (to arrange finance or to sell on the property in flip deals),lower exchange deposits e.t.c. so think about what you need the purchase for and what terms you may need and formulate a well considered offer backed up with solid research and you can't go wrong by starting a little lower like you've suggested if it's justified...
 
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