How cheeky to be with offer

[TalkCents]

Hi,

We are going to make an offer on a house in the coming days, the house was initially €350k, 9 months ago, but has been reduced to €300k recently.

I know from a source that the owner is under pressure to sell, and is in some difficulty (he has a number of investment propertys which this is one of and he has been dripping them onto the market).

If I were to offer a low ball offer of €250k would this be taken seriously or would it make me seem like I wasn't a serious buyer.

 

[kmick]

I'm not sure we have enough info. You would need to think about what other preferably identical properties have sold for. If the landlord is having to dump properties its likely the bank are behind it and they are going to have their minimum as well. Having previously dealt with a bank on a house purchase they tended to be inflexible. Saying that all they can say is no.

 

[TalkCents]

There has been relatively small movement in the area of houses of this size, as for anyone to sell is taking a big hit (approx 175 - 200k on prices 10 years ago when these were built), the 2 most similar properties that have sold in the last 6 months were are €280k and €300k, however certainly the €300k property was in better condition. The house we were looking at it on first look needs cosmetic work as it has been rented for a number of years. I think it is prob worth about €275-80k, just need a bit of advice re. strategy!