FTB Advice - The 'offering' process, help please! (long post sorry)

MrDT

Hahaha maybe I should have worded my question differently and directed it at sellers:

If a FTB offered you 22% below asking as 'first and final offer' would you:
1) Assume that they'll come back with an increased offer and hold out for it? (increased offer won't be forthcoming, from me!)
2) Decide it's enough to cover what you need and sell / Decide it's not enough to cover what you need and refuse?

I guess it depends on how motivated the seller is. I'll find out on Saturday, I can weedle it out of the EA I reckon.

Indecisive, me? No lol!
Lacking in common sense? Certainly
Bossy / Overbearing parents? Hahaha quite the opposite!

I'm confident (overly so at times it seems), and WILL be putting in an offer if I still want the place after my second viewing. I just figured I'd start a thread discussing strategies of how to achieve a reduction in price. I just don't really understand the psychology of a seller. JEEZ

chrisandanne

MrDT wrote: »

Hahaha maybe I should have worded my question differently and directed it at sellers:

If a FTB offered you 22% below asking as 'first and final offer' would you:
1) Assume that they'll come back with an increased offer and hold out for it? (increased offer won't be forthcoming, from me!)
2) Decide it's enough to cover what you need and sell / Decide it's not enough to cover what you need and refuse?

I guess it depends on how motivated the seller is. I'll find out on Saturday, I can weedle it out of the EA I reckon.

Indecisive, me? No lol!
Lacking in common sense? Certainly
Bossy / Overbearing parents? Hahaha quite the opposite!

I'm confident (overly so at times it seems), and WILL be putting in an offer if I still want the place after my second viewing. I just figured I'd start a thread discussing strategies of how to achieve a reduction in price. I just don't really understand the psychology of a seller. JEEZ

If I were selling I would ALWAYS assume that it was a FIRST offer and ask for more...and then I would be a bit miffed if they said NO.

However if I was approached by the EA and told 'I have a first time buyer here with his mortgage arranged and he can spend £70k will you accept that'
If I could I would...without feeling someone was trying to rob me. BUT...I would STILL say to the EA 'can he manage £75 ?'. If the EA said 'sorry he's only got £70k...I'd say 'oh go on then'.

So if I was you this is how I would go about it...but don't up your offer. Don't underestimate the great position you are in, deposit, mortgage, nothing to sell. :T A x

p.s. Bit garbled hope you get my drift.