Welcome back to the weekly property problem page with Tim and Julia Haycocks, owners of Stowhill Estates Berkshire. This week, we’re talking about low offers …
“We had an offer on our house, but it was lower than we hoped. I was quite offended by it. Was I right to reject it straightaway?”
A.M, Crowthorne
Firstly, it is completely normal that you felt offended by a low offer. It’s your home, your memories and probably your next move tied up in that number, so of course it felt personal.
That said, was it right to reject it straightaway? Possibly, but in most cases we would usually advise pausing before reacting. Easier said than done, we know. When someone offers less than you hoped, the first instinct can be, “Absolutely not, how dare they?” But an offer is rarely just a number; it is often the start of a conversation.
Before rejecting an offer, it is worth looking at the buyer’s position properly. Were they chain-free? Had they sold? Were their funds confirmed? Were they flexible on timing? Were they likely to chip away after the survey? A slightly lower offer from an excellent buyer can sometimes be worth more than a higher offer from someone who is not actually ready to move.
It is also worth asking whether the offer was genuinely low, or whether it simply felt low because you had hoped for more. Recent comparable sales, current competition, viewing feedback and time on market all matter.
The other thing to remember is that buyers are often testing the water. Some expect a negotiation. Some are nervous. Some have been told by friends, family or the bloke at work who once bought a flat in 1998 that they should always “start cheeky”. Helpful? Not particularly. Common? Very.
So, were you wrong to reject it? Not necessarily. It may have been completely the right decision if the offer was unsupported, the buyer was weak, or the figure simply did not work for you.
But the important thing is understanding it before dismissing it. Pride is not usually the best negotiator. If the same situation comes up again, ask your agent to qualify the buyer properly, understand the full picture, and then decide whether to counter, hold firm, or politely decline.
You do not have to accept a low offer. But it is always worth treating it as information before deciding what to do next.
All the best,
Tim & Julia
