should i put in a third offer?

LisaLou1982

Only 2 things you need to take in to consideration here:

1. Can you afford to increase your offer?
2. Do you want to increase your offer?

If the answer to them both is No, then it doesnt matter what anyone else says on here. If you want the house that much then offer more. If not, then dont offer more - find something else!

socrates

Take a wait and see approach - if its meant to happen it will

macaque_2

Serina

The estate agent has been kind enough to keep you updated on other people's viewing habits. You should now make the effort to view at least three other properties and some of them through different agents. When the agent calls (and only then) he will no doubt be pleased to hear that you have other irons in the fire.

It is easy (especially for first time buyers) to get infatuated with one place. If you do have a look around, you may well find another place which you prefer.

fishpond

IMHO
If you want it, put in an offer of 185000

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189999
Thats if you really want it, if you don't, look else where.
At the end of the day you are paying for bricks and mortar, location and potential.
I can understand peeps wanting something for less but you have to be prepared to lose it, so if you want it--- offer something close to the asking price---it is not ebay!:p

macaque_2

Serina; By the looks of things, your estate agent is trying to negotiate with you over the internet.

fishpond wrote: »

IMHO
If you want it, put in an offer of 185000

---

189999
Thats if you really want it, if you don't, look else where.
At the end of the day you are paying for bricks and mortar, location and potential.
I can understand peeps wanting something for less but you have to be prepared to lose it, so if you want it--- offer something close to the asking price---it is not ebay!

serina_2

everyones advice has been really useful and has lifted my spirts! I am a great believer if sumthings meant to be it will! and theres plenty of houses out there, its just finding them! i know i really like this house but at the same time i will not get into a bidding war, and i will not over pay for a house. i will now decide wheather i want to increase my offer and by how much and sit on it for a while also look at other houses. I will not pay 189.000 as if i was going to pay that i would go for a new development 4 bed detached house with stamp duty paid and fees for 189.000 yes ur restricted in new houses for space but hey its seems better value for money to me and no work to be done!

Cozworth806

Having had a offer accepted on a house a couple of days ago I can only put my opinion from my persepective and my area (Keighley, W Yorks)

The quality of houses that are on the market are largely a bit rubbish, many are overpriced or don't have a layout that suits how I would want to live in a home without a lot of work and fall into two camps. Those who would like to sell but don't have to, for which the price rarely changes despite the market dropping, or
those who need to sell (Death, Divorce, Debt or Relocation) and are prepared to take an offer.
We initially offered £153,000 on a property that was up for £164,000 (recently reduced from £175,000) (sold in Nov 2004 for £173k) but was told that she needed £162,000 to clear her mortgage and debts (divorced) but managed to get it for £160k.

With some TLC (nothing major) it will be a really nice 5 bedroom house which I will be happy to live in for 10 years+ until my kids grow up and the mortgage is less than the rent so will be slightly better off, now that savings rates are rubbish.

So where does that leave you? Can you afford to go any further? Do you really like the house and see the potential in it, and think that the price following further drops will hold its own realtive to the market. If you have to live somewhere and pay for the housing then is paying an extra few grand going to matter? If you view it as an investment then really you may be unlucky.
You could ask them to name a price, and see if that matches with your figures.

hethmar

Just a point, do you have the money for all the works that need doing? Remember that the mortgage company will down value the property if these essential works are required.

serina_2

hethmar wrote: »

Just a point, do you have the money for all the works that need doing? Remember that the mortgage company will down value the property if these essential works are required.

depending on if we get the property at the right price then yes money for just immediate work! but will probably take a whole year to get all done. As it does need a new kitchen and bathroom as it is very old and all house needs plastering. The man who it belonged to was old and has passed away and hes left it to his son.

socrates

serina wrote: »

depending on if we get the property at the right price then yes money for just immediate work!

This is the exact reason why you have to stick to your guns - it is ALL about getting it for the right price for you and the ability to pay for the works needed in the future.