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If you’ve seen a property that you like, then you might be considering making a cheeky offer on it. Before you do, here’s what you need to know.
What exactly is a cheeky offer?
There’s no hard-and-fast definition.
Some people might consider it an offer that is significantly below the asking price.
If the listing specifies ‘offers over’ a particular price, then it might be a figure that is significantly less than that.
Do cheeky offers work?
It depends.
The seller’s decision will be heavily influenced by how keen they are to move and what they can afford to accept. It also depends on whether there are other buyers in the frame, the offers they have made and how proceedable they are.
How much should a cheeky offer be?
Always carefully think through an offer before you make it. It shouldn’t be unrealistic.
Think how you would feel if you were the seller. Offers that are too low can alienate sellers and make any further negotiations more difficult.
You want your offer to be at a level that is still attractive to the seller and that they’re prepared to take seriously.
How to give your offer a better chance
Any offer, cheeky or not, stands a much better likelihood of being accepted if you are in a strong position to get moving.
First-time buyers and cash buyers are always appealing prospects.
If you have a property to sell, then you’re in a better position if you’ve already found a buyer or at least have it on the market.
Before making an offer, determine your budget. Have a mortgage in principle if you’re buying with a mortgage.
If you’re thinking of investing in a new home – and your property is not yet listed – why not contact us for a valuation today? The sooner you have an offer on your home, the better your position when making one.
If you know someone who is buying or selling their home, please share this article with them.
