we like a 3 bed house in york, UK. the price is £150,000. We like the hosue but want to pay around £140,000 only.
Can we make an offer of £140,000 or will that be too low as offer???
Need hel, thanks.
2007-12-01 09:29:47 · 15 answers · asked by wonderful 1 in Business & Finance ➔ Renting & Real Estate
Make an offer. They can reject it if they don't like the price. They will also make a counter offer if ur price is too low.
2007-12-01 09:32:28 · answer #1 · answered by jessicas127 5 · 0⤊ 0⤋
Make your offer 130,000 Pounds (Sorry, I don't that character, I'm in the colonies). The worst that they can do is decline the offer completely in which case you can bump it up 10,000 Pounds (see above).
Best case is they accept the offer and you owe me 5,000 Pounds (ditto).
The middle of the road is they counter with an offer to sell for 140,000 Pounds (no more explanations) and you get the house for what you want to pay.
OK, I had a little fun with the money stuff but the advice is sound. And when all the smoke clears if you end up not buying the house for whatever the reason there will be other houses. Just remember, you are buying a house, not adopting a child so you should set aside the love affair you think you are having and look at this like an investment with fringe benefits.
Good luck and Merry Christmas...
2007-12-01 17:45:23 · answer #2 · answered by gimpalomg 7 · 0⤊ 0⤋
1.Look at how long its been on the market...and why are they selling? How soon do they need the money/sell the house?
2.also try to find out from the vendor how much they have on the mortgage and any other debts on it...sometimes vendor's will tell you
3.also go to hometrack and see what they paid for it
4.go to rightmove and findaproperty and see what similair is going for
5.How many other people are interested in this property...whats the competition and what is there situation?
This will all help you make a decision...£140K is still too high, if the market falls 5-10% and there is a high chance of that... where will that leave you? Consider this...Always start low you can always go up...but can never come down...
2007-12-03 12:01:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The £10,000 difference is only 6.7% under the asking price. Is the market going down like the US market? If it is then they may split the difference with you. If you only want to pay £140,000, then you have to go to £130,000. The split the difference after a few counter offers. However, they could just walk away from you and not let you bid on the house. Bidding (or selling) a house in a down market is bit like playing poker. Sometimes you win and sometimes you lose. MDM
2007-12-01 17:38:03 · answer #4 · answered by mdagron 1 · 0⤊ 0⤋
Usually a good first offer is 10% off the asking price so i'd say it was a good offer to start. If they accept depends on if they have their eye on their next home or how long it's been on the market as it's been at a bit of a stand still at the mo. good luck.
2007-12-01 17:35:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋
the uk property market is in decline so your offer will be more acceptable under such circumstances. i recently got a house for 30k under its value just by offering what i wanted to pay not what they were looking for. whats the worst that can happen? they will try &get a little more from you. leave them to think about your offer over xmas
2007-12-01 17:56:37 · answer #6 · answered by Anonymous · 1⤊ 0⤋
Put the offer in at 138,500. They will refuse this (I expect) but they may be happy when you up your offer to 140,000.
You've nothing to lose!
2007-12-01 17:33:50 · answer #7 · answered by Rolsy 7 · 1⤊ 0⤋
My advice is wait a while. Last month saw the biggest drop in house prices since 1995. Dont listen to the hype! Prices do change
2007-12-01 17:33:00 · answer #8 · answered by Ryan 5 · 0⤊ 1⤋
I would probably make an offer of 138000 pounds so that there is some upward margin for negotiation. Good luck
2007-12-01 18:48:51 · answer #9 · answered by q127 2 · 0⤊ 0⤋
depends, if you've got no chain and a secure mortgage offer you can try your luck, play on the fact that you've got no chain etc- usually the first offer is always refused though so dont be too down beat if it is refused. good luck
2007-12-01 17:33:22 · answer #10 · answered by chris p 3 · 0⤊ 0⤋