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Author How cheeky can you be?
Kano
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Registered: 29th Aug 04
Location: Fife
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12th Jan 09 at 12:50   View User's Profile U2U Member Reply With Quote

As above, looking to buy a house next month and just trying to work out my budget properly... Question is how cheeky can you be with offers at the moment.. For example a house that is up at 95k, how much would you realistically expect to pay for that the way things are just now..

Any help apreciated...

Matt L
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Registered: 17th Apr 06
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12th Jan 09 at 12:56   View User's Profile U2U Member Reply With Quote

(i know nothing about this)

but i reackon 85 would be the lowest id go with and offer. but i imagine the seller would take 5k less unless they are in no rush to sell.
RichR
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Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
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12th Jan 09 at 12:56   View Garage View User's Profile U2U Member Reply With Quote

went in 20% under and settled at 15% under iirc, That was before the "Credit Crunch"; everyone said I was a twat for trying at 20% but at the end of the day if you don't ask you don't get
John
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Registered: 30th Jun 03
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12th Jan 09 at 12:57   View User's Profile U2U Member Reply With Quote

Is it offers over or fixed price?

Fixed price you'll get away with going a bit lower but offers over you'll just need to find out the average % for the area and work it from there.

This is scotland, different system from England, our prices haven't really dropped yet either.

[Edited on 12-01-2009 by John]
Cosmo
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Registered: 29th Mar 01
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12th Jan 09 at 13:06   View User's Profile U2U Member Reply With Quote

It depends on a lot of things really...how fast are houses shifting around your area, how long has this particular house been on the market, how desperate are the owners to sell, etc.
Ecosse Sport
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Registered: 5th Jun 02
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12th Jan 09 at 14:07   View User's Profile U2U Member Reply With Quote

Depending on how long its been on the market I'd try offering below the asking price.

A lot of properties in Aberdeen seem to be going from say offers over 95k to a fixed price of 95k.
Cosmo
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Registered: 29th Mar 01
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12th Jan 09 at 14:10   View User's Profile U2U Member Reply With Quote

A lot of people will be desperate to sell at the moment so some cheeky offers could well get accepted.
deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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12th Jan 09 at 14:43   View User's Profile U2U Member Reply With Quote

No harm in trying. Not as if the owners will be offended and you know them etc. They can only say no.
Colin
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Registered: 4th Apr 02
Location: Drives a hire car
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12th Jan 09 at 16:03   View User's Profile U2U Member Reply With Quote

Have a look online & see how much similar properties in the same 4area have went for & take it from there. I dont think you'll get much off though.
Andrew
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Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
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12th Jan 09 at 16:39   View User's Profile U2U Member Reply With Quote

Mine was initially up at 125k and went down to 100k. I'm paying 85k
Kano
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Registered: 29th Aug 04
Location: Fife
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12th Jan 09 at 17:49   View User's Profile U2U Member Reply With Quote

Theres quite a few that weve been watching, all have been up for the last 3 months at least. I was thinking that 85 would be where I'd want to start but just wasnt sure if that was expecting too much. As said though if you dont ask...
Colin
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12th Jan 09 at 18:21   View User's Profile U2U Member Reply With Quote

Is it newbuilds? Thats slightly different if your buying from a builder, they usually have something up their sleve & are prepared to budge. If someone came to my house & asked for 10k off the price when I thought it was priced correct id not be too chuffed!!
ash_corsa
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Registered: 15th Apr 04
Location: Shrewsbury
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12th Jan 09 at 18:26   View User's Profile U2U Member Reply With Quote

We were looking at a house for 135k
We offered 120k, the seller refused and then came back and counter-offered 125k
So be cheeky, go low and if its too low most will come back with a reasonable figure.

As said before, whats the worst that can happen?
Colin
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Registered: 4th Apr 02
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12th Jan 09 at 18:29   View User's Profile U2U Member Reply With Quote

Englands different from Scotland, we only roll with fixed price or offers over.
ash_corsa
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Registered: 15th Apr 04
Location: Shrewsbury
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12th Jan 09 at 19:02   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Colin
Englands different from Scotland, we only roll with fixed price or offers over.


Really! So you cant offer below the asking price? Or the seller cant submit a counter-offer?

Thanks
John
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Registered: 30th Jun 03
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12th Jan 09 at 19:47   View User's Profile U2U Member Reply With Quote

You could offer below the asking price on fixed price.

Offers over you're looking at least 10% over the price depending on area, can go up stupidly in certain areas.

Seller can tell you they want X after you've put an offer in in either situation though.
Kano
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Registered: 29th Aug 04
Location: Fife
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12th Jan 09 at 19:48   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by ash_corsa
quote:
Originally posted by Colin
Englands different from Scotland, we only roll with fixed price or offers over.


Really! So you cant offer below the asking price? Or the seller cant submit a counter-offer?

Thanks


Technically no but I will be... I know its not the same but I'm treating it like haggling for a car, people always expect to be chipped down. If it means the difference between me being able to afford a house I see or not then its worth me being pretty cheeky.

The whole reasoning behind the price range were looking at is it should save us over 150 p/m over what we are paying for rent at the moment. We could afford a more expensive house but would rather be comfier money wise..

Colin there not new builds btw...
Aaron
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Registered: 9th Aug 04
Location: Cottingham, East Riding
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12th Jan 09 at 20:44   View User's Profile U2U Member Reply With Quote

To answer the question of the thread...be as cheeky as you want. Whats the worst then can say? No?
Colin
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Registered: 4th Apr 02
Location: Drives a hire car
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12th Jan 09 at 21:45   View User's Profile U2U Member Reply With Quote

Historically knocking down the price in scotland is never heard of. Now though might be a different story.
Ecosse Sport
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Registered: 5th Jun 02
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13th Jan 09 at 08:37   View User's Profile U2U Member Reply With Quote

Do you have a solicitor?

You'll need them to put a formal offer or note of interest. It might be worth asking them for their advice, they should know the local market and as they'll be wanting your business will work in your best interests....hopefully.
Mad Moe
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Registered: 14th Jun 01
Location: Northumberland
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13th Jan 09 at 10:09   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Ecosse Sport
Do you have a solicitor?

You'll need them to put a formal offer or note of interest. It might be worth asking them for their advice, they should know the local market and as they'll be wanting your business will work in your best interests....hopefully.


Since when have you needed a solicitor to make a formal offer? Also a solicitor wouldn't have any more knowledge of the local market than an Estate Agent?

[Edited on 13-01-2009 by Mad Moe]
Kano
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Registered: 29th Aug 04
Location: Fife
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13th Jan 09 at 11:07   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Ecosse Sport
Do you have a solicitor?

You'll need them to put a formal offer or note of interest. It might be worth asking them for their advice, they should know the local market and as they'll be wanting your business will work in your best interests....hopefully.


Yeh we do but we dont have the funds available till next month so were holding off getting too serious till then..
Andrew
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Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
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13th Jan 09 at 16:25   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Aaron
To answer the question of the thread...be as cheeky as you want. Whats the worst then can say? No?


If your not, you will be gutted to find the next guy has paid 10% less
neoquip
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Registered: 12th Aug 02
Location: Nottm
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13th Jan 09 at 17:50   View User's Profile U2U Member Reply With Quote

our property is on at 95k was on at 109k when it first went on.

we'd want an offer 90K+
an offer of 85k would get thrown out


try 85k, but I think someone on at 95k wants 90k TBF

what did the house sell at before.. check out http://www.houseprices.co.uk/ to see what they paid, that might give you an idea on what they have to play with, IE if they bout it at 95k they might still have a mortgage of 86k on it so can't go much lower than the 95k its on for!
ash_corsa
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Registered: 15th Apr 04
Location: Shrewsbury
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13th Jan 09 at 21:02   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by neoquip
what did the house sell at before.. check out http://www.houseprices.co.uk/ to see what they paid, that might give you an idea on what they have to play with,


www.ourproperty.co.uk is much better, it will search back to 1995

houseprices.co.uk will not do Scotland either...

[Edited on 13-01-2009 by ash_corsa]

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