Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • ExeCute
    • By ExeCute 15th Jun 17, 11:36 AM
    • 20Posts
    • 2Thanks
    ExeCute
    Offering on a property with 10+ viewings
    • #1
    • 15th Jun 17, 11:36 AM
    Offering on a property with 10+ viewings 15th Jun 17 at 11:36 AM
    Hi,

    We have a viewing later today in an in demand area that we really like. The house looks lovely and after looking at quite a few houses have a gut feeling this could possibly be the one.

    The problem is the house went on the market yesterday afternoon and they have a wade of viewings booking up. (I know you may think im possibly being had on but its pretty genuine as we know the area).

    I wanted to ask really how you would approach this if we do indeed love this house.


    I dont know the best way to approach offering on a newly listed property with possible further interest.

    My only advantage currently is being #1 on the list as i requested viewing at 1pm today.

    We have sold our property, and were a week away from exchange when the house we were buying pulled.

    Would you offer straight in at asking price knowing that there are another 10 people booking in for viewings over the next 3 days ?

    Would you wait till others have viewed and see if there are any offers before offering ?

    Or go in lower as you would with a normal offer on a house thats been on the market for a while ?

    Any opinion on how you would approach this would be great.
Page 1
    • Browntoa
    • By Browntoa 15th Jun 17, 11:38 AM
    • 31,389 Posts
    • 37,092 Thanks
    Browntoa
    • #2
    • 15th Jun 17, 11:38 AM
    • #2
    • 15th Jun 17, 11:38 AM
    if you like it I would go for "full offer but take off market"
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I'm a volunteer to help them run smoothly and I can move and merge posts there. However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • ellectrastar
    • By ellectrastar 15th Jun 17, 11:49 AM
    • 31 Posts
    • 5 Thanks
    ellectrastar
    • #3
    • 15th Jun 17, 11:49 AM
    • #3
    • 15th Jun 17, 11:49 AM
    if you like it I would go for "full offer but take off market"
    Originally posted by Browntoa
    Definitely agree with this. If you love it and you know demand is high there's little point offering less considering a) the amount of bookings you believe will be following you, and b) as you say is more something you would do on a property that has been marketed for longer. If the price is fair, you can afford it, and it feels right then go for it.

    I am looking for a property. Saw one I liked but left it as it was way over-valued. It got reduced twice, I planned to book a viewing (which I hadn't done before due to high value and that it was four hours away), but next thing it was "under offer". I called the agent and was told that was it - sold. So if another of the viewers after you makes an offer that's accepted I don't think you'll have the chance to find out what the offer was or offer against it.
    • ExeCute
    • By ExeCute 15th Jun 17, 12:01 PM
    • 20 Posts
    • 2 Thanks
    ExeCute
    • #4
    • 15th Jun 17, 12:01 PM
    • #4
    • 15th Jun 17, 12:01 PM
    Thanks,

    I was thinking the same, my worry was if we offered full asking and they said they would like to still complete the other viewings, it seems like we are setting the bar too high.
    • Thrugelmir
    • By Thrugelmir 15th Jun 17, 12:08 PM
    • 54,363 Posts
    • 47,174 Thanks
    Thrugelmir
    • #5
    • 15th Jun 17, 12:08 PM
    • #5
    • 15th Jun 17, 12:08 PM
    At least by making an offer you are registering a serious interest in the property. If you decide it's the property you won't to make your home for the foreseeable future. Then a few thousand is neither here nor there. As the property is unlikely to return to the market for some years.
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
    • AnotherJoe
    • By AnotherJoe 15th Jun 17, 12:12 PM
    • 6,891 Posts
    • 7,329 Thanks
    AnotherJoe
    • #6
    • 15th Jun 17, 12:12 PM
    • #6
    • 15th Jun 17, 12:12 PM
    Full asking and make it clear how far you are progressed in your sale.
    On the downside for you, if i was the vendor I'd still let everyone visit and have sealed bids over the next week, because if the first buyer offers full asking, odds are then it will go higher.
    • ReadingTim
    • By ReadingTim 15th Jun 17, 12:17 PM
    • 1,686 Posts
    • 2,443 Thanks
    ReadingTim
    • #7
    • 15th Jun 17, 12:17 PM
    • #7
    • 15th Jun 17, 12:17 PM
    You've sold a house, so put yourself in the sellers' shoes: you're selling in an in-demand area, have 10+ viewings booked over the next few days and viewer #1 wants you to take it off the market....?!?
    • toc25
    • By toc25 15th Jun 17, 12:30 PM
    • 152 Posts
    • 160 Thanks
    toc25
    • #8
    • 15th Jun 17, 12:30 PM
    • #8
    • 15th Jun 17, 12:30 PM
    Our house was just like that. It went on the market and we had loads of people wanting to view it. We had offers that were under the asking price straight away and we wouldn't even consider them. Ours was a little different as it was an offers over asking price. We had a lot if viewings then got sick of it. So we got the estate agent to ring all interested parties that had viewed it and asked for best and final offers. We ended up accepting an offer 10k over the price. I think the best thing you could do is view it and if you like it make sure you let the estate agent know you are interested so that if any one else offers you will know. If you are making an offer I would say offer the asking price. You might find it ends up going for more than that if there are a lot of keen buyers.
    • AnotherJoe
    • By AnotherJoe 15th Jun 17, 12:48 PM
    • 6,891 Posts
    • 7,329 Thanks
    AnotherJoe
    • #9
    • 15th Jun 17, 12:48 PM
    • #9
    • 15th Jun 17, 12:48 PM
    Thanks,

    I was thinking the same, my worry was if we offered full asking and they said they would like to still complete the other viewings, it seems like we are setting the bar too high.
    Originally posted by ExeCute
    I wouldn't worry about that. It at least forestalls the chance that whoever first offers full AP they will accept, and that wasnt you because you held back. Some sellers will do that, indeed i was involved in a situation 3 years ago where the buyer accepted the first answer they got despite me offering full AP a couple days after. It was after an open house and I foolishly thought that they would let the bids come in after the weekend and then make a decision.

    You are first, you'll see it and be able to take a view if its worth full AP to you. If it is you might get lucky, and if not, if they wait for other offers well they would have done that otherwise.
    • Rambosmum
    • By Rambosmum 15th Jun 17, 1:12 PM
    • 1,323 Posts
    • 1,772 Thanks
    Rambosmum
    In our area, popular properties are going at waaay above asking price (10-20%), what's you area like?
    • Blakey74
    • By Blakey74 15th Jun 17, 1:23 PM
    • 19 Posts
    • 9 Thanks
    Blakey74
    Offer what you believe it is worth. 10 viewings does not mean offers. If its popular then its likely that agents will ask for full and final offers after the weekend.

    We went in low on a property with 20 viewings plus in the end we got it for 5K under asking prices after best and final offers
    • cjdavies
    • By cjdavies 15th Jun 17, 2:01 PM
    • 2,394 Posts
    • 2,253 Thanks
    cjdavies
    Problem is with loads of viewings and first viewer offers asking, chances are others would want to go higher.
    • dlmcr
    • By dlmcr 15th Jun 17, 6:09 PM
    • 118 Posts
    • 130 Thanks
    dlmcr
    This is one topic where you really need to research and know the local market intimately. Eg where I am on the same street houses on one side (south facing huge back gardens) go full asking within 1 week. On the other (north facing small back gardens) they linger for noticeably longer. Small things like that will help you to gauge and pitch your offer.
    • AnotherJoe
    • By AnotherJoe 18th Jun 17, 10:29 AM
    • 6,891 Posts
    • 7,329 Thanks
    AnotherJoe
    So, what did you do ?
    • teddysmum
    • By teddysmum 18th Jun 17, 3:12 PM
    • 7,880 Posts
    • 4,697 Thanks
    teddysmum
    No matter what you do there will be niggles ,if you give in to them.


    Could you have bought cheaper ? Should you have been first to bid as the seller took the first full price offer ? If you hadn't made a full asking price bid, would the eventual price have still been in your affordability range ? etc etc


    That's life and you have to take risks, when there is no certain good outcome.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

249Posts Today

1,392Users online

Martin's Twitter
  • Byebye! I'm about to stop work & twitter, to instead spend glorious time with Mrs & mini MSE. Wishing u a lovely summer. See u in 10 days.

  • WARNING Did you start Uni in or after 2012? The interest's rising to 6.1%; yet it doesnt work like you think. See https://t.co/IQ8f0Vyetu RT

  • RT @JanaBeee: @MartinSLewis Boris is the anomaly (coffee), the others are versions of normal (beer). Lots of same candidates = vote share d?

  • Follow Martin