Should You Make a Cheeky Offer? Some Thoughts Buyers Might Find Interesting
If you’ve spotted a property in Hull or across East Yorkshire that you love, you might be wondering if it’s worth putting in a cheeky offer.
But before you do, it’s important to understand what that really means – and how it could affect your chances of securing your new home.
What exactly is a cheeky offer?
There isn’t an official definition. Generally, a cheeky offer is when a buyer offers significantly below the asking price of a property.
If a listing shows “offers over” a particular figure, a cheeky offer would usually be a bid that falls noticeably short of that guide price.
Do cheeky offers ever work?
Sometimes they do – but it depends on the circumstances.
A seller’s decision will usually come down to:
- How motivated they are to move
- What they can realistically afford to accept
- How much interest the property is attracting
- The strength and position of the other buyers
In a competitive market, particularly in popular areas of Hull and East Yorkshire, sellers may be less likely to consider a low offer.
How much should you offer below asking price?
If you’re considering making an offer, always think carefully. Going in too low can backfire.
Put yourself in the seller’s shoes – if you were selling your home, would you take the offer seriously? A figure that’s far below the asking price may cause offence or even close down future negotiations.
A good rule of thumb is to aim for an offer that saves you money but still shows the seller you’re serious about buying.
How to improve your chances
Whether your offer is cheeky or not, sellers are more likely to accept if you’re in a strong position.
First-time buyers and cash buyers are often most attractive to sellers
If you’re selling a property, make sure it’s already on the market – ideally with a buyer lined up
Have a mortgage in principle ready if you’re buying with finance
Show the seller and the estate agent that you’re prepared and committed
The more ready you are to move, the more weight your offer will carry.
Ready to make your move?
If you’re thinking of buying in Hull or East Yorkshire, your position will be much stronger if your current property is already listed. At Beercocks, we’re a local estate agency with decades of experience helping people sell their homes and move on to their next chapter.
Book a free property valuation with our team today and put yourself in the best possible position to secure your dream home.
And if you know someone else who’s house hunting, feel free to share this article with them.
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