The term cheeky offer is widely used in the UK property market to describe an offer that is notably below the asking price, made on the basis that the buyer considers the property is either overpriced or that circumstances justify a significant discount from the advertised figure. Understanding when a low offer is strategically sound and when it is likely to be counterproductive is an important part of buying a property effectively.

What Counts as a Cheeky Offer

There is no precise definition, but an offer of ten to twenty percent or more below the asking price is generally considered a cheeky offer in most market conditions. An offer five percent below asking price is a fairly standard opening position in a normal market and would not typically be described as cheeky. An offer of fifteen to twenty percent below asking is in cheeky territory; anything below twenty percent is aggressive and will be taken seriously only in specific circumstances.

When a Low Offer Is Justified

A significantly below-asking offer is most likely to be considered seriously in the following circumstances. The property has been on the market for an extended period without selling, indicating the asking price is not attracting committed buyers at that level. The asking price is demonstrably above comparable sold prices in the area. The property has significant issues, such as structural defects, a very poor decorative condition, or a difficult location, that are not reflected in the asking price. The seller has a strong motivation to sell quickly, such as a probate sale, a divorce settlement, or a need to move by a specific date.

When a Low Offer Is Counterproductive

A very low offer on a well-priced property that has attracted significant interest, or on a property where the seller has little motivation to accept less than the asking price, is likely to be rejected outright or to create a negative impression that makes future negotiation more difficult. Sellers who feel insulted by an unreasonably low offer may be less willing to negotiate on subsequent offers from the same buyer than they would have been with a more respectful opening offer.

Summary

A cheeky offer is typically ten to twenty percent or more below asking price. It is strategically sound for overpriced or long-on-market properties but risks offending sellers when the asking price is fair. Supporting an offer below asking with comparable sold price evidence makes it more credible and more likely to generate a productive negotiation. Research before offering is always worth the time invested.