help with making an offer!!!!!

ejmna1

Hi , we have just seen the house we want to buy (hurrah only been to see 29 this time, went to see 60 last time) its on the market for just under 300k and the estate agent says that they have already had a "close" offer. Can anyone advise as to what close is? Having read any number of web sites on how to make an offer it would seem that and accebtable offer is between 95% and 98% of asking price but that might put a close offer at anything between £285K and £294K or neither of these, estate agent seems friendly enough but they stand to profit any thoughts! limit for us is £300k on house + expenses but we might end up with no furniture!
House 2 doors up sold for £270k 2 years ago and £245k the year before that
Am i right in thinking that even if we put an offer in we are likely to get the chance to put a higher one in if we need to.
Any help greatfully recieved need to make an offer 2morrow
Ta in advance
nick

[Deleted User]

ejmna1 wrote:

Am i right in thinking that even if we put an offer in we are likely to get the chance to put a higher one in if we need to

Yes, if your offer is lower than the other, the ea will say so and should give you the chance to offer more. Make sure you have a close chain and mortgage offer in place, I'll keep my fingers crossed for you!

timread

Unless you firmly state that your first offer is your absolute final offer, estate agents & vendors will usually expect at least a couple of rounds of offers before a final figure is agreed upon. That's what the estate agents are there for - haggling!

Unless of course, there is already a higher offer on the table (in which case as you discovered they'll tell you straight away... just not how much it is). Then it's up to you to submit another higher offer.

Just remember to stay within the budget you already set yourself!

mandi

You cant try this.https://www.houseprices.co.uk/. just type in your postcode



Mandi

Lorian

The agent will have told the seller the other offer, but should have also told them they think you are about to make an offer, but even so I'd be ringing at 9am to put my offer in.

On a £300K deal "close" to me would mean around £290K. Others may think differently.

You don't know if the other offer has a chain ready to go though, maybe they don't, which would be in you favour.

I must say I wouldn't trust all estate agents though!

mandi

can I ask what your position is, are you a 1st time buyer for example,
You should ask the agent, what the position is of the people that have made the other offer, also ask the agent to Disclose what the offer is... It maybe that the other offerers have a property to sell that isnt even on the market yet!!

Once you Know the postion and the offer then it will give you a better idea as to what you should offer, please see my earlier post and check other property in the area

NB if the agent refuses to disclose the offer, ask them if that is because of the vendors instructions, if not ask the agent to ask the vendor if they wiil disclose(peronaly I hate the fact that agents will not disclose offers, unless its with Sealed Offers.. Sorry for the Jargon...

Mandi