Offering process - should I wait or up the offer?

tomstickland

Full story in another thread here: http://forums.moneysavingexpert.com/showthread.html?p=1625642#post1625642

£90K 1 bed flat, been on market for 1 year, earlier buyer pulled out, good location, needs cosmetic work, owner wants to sell etc

I offered £80K. That was rejected. So I've tried £84K, waiting for answer.

I think I would be happy paying up to £87K for the property max.

I'm going on holiday for a week from Friday.

Do you think I should take the chance and let it stew whilst I go on holiday, with the £84 offer? Or maybe try £85K? Or go for the max I'm willing to pay and if that's not good enough, then so be it?

The factor that's (sadly) playing on my mind is that the EA keeps mentioning other buyers viewing the property etc and I do like the property a lot. Then again I expect that most will have the same first conclusion as me. ie: doesn't like all that good on first look. I'm not sure whether I'll enjoy my holiday if I leave it hanging. Then again, it might just forget all about it.

All good fun I suppose!

mummytofour

Oh Tom you offerd fabby! Right, you want that place dont you? you have looked at lots of flats and only this one has everything you want, if I were you I would go in hard and say its your final offer, I would go the whole hog with the 87k say ftb want to move fast and your off on holiday on friday and you want to instruct your sol before you go away, explain that the offer is based on the max you can afford and thats it! there is no more money! I am currently in the middle of purchasing my new house and I had to go to my top top limit, but for me the house is worth it ( only house with 4/5 beds for less than 200k within 50 miles)


The very best of luck.

tomstickland

I'll see what the EA says tomorrow.
I'm tempted to say £86 or £87K but with carpets and White goods included. What use are the old carpets to the vendor?

suki1964

Good luck tomorrow.

Doozergirl

If you can hack it, I'd offer the £84k and make them sweat. If it's going to ruin your holiday then offer your full amount and agree the sale before you go.

Use the white goods and carpets as a bargaining tool if you must, but you'll find that people generally leave these things even if they say they won't. They're not really worth as much to you as the vendor will try to get - you could replace carpets for much less than £500 fitted and being a real MSE, you'd get the white goods at a good price too. All Brand New!

tomstickland

Yes, the carpets would cost £300 brand new, white goods the same, but if I have to pay a bit more for the place then it'd save some hassle to have them there ready. I could take a chance on them anyway.

A lot depends on what the EA says tomorrow, but I could go for a compromise. Offer somewhere between £84K and £87K depending on how I feel and then leave it. It won't ruin my holiday.

I'll do some spreadsheet work to see how much of a difference it'll make to my monthly payments and how long it'll take me to overpay it back down to where it would have been anyway.

Doozergirl

All Hail the King of Research!

tomstickland

A spreadsheet can be concocted for every occasion. Whether it helps or not doesn't matter.

Doozergirl

I like spreadsheets too

Hope you weren't taking my previous comment the wrong way

Joannaclaire

Fingers crossed for you.

Personally I'd let them stew and also wait for them to get back re the 84,000 offer first.

tomstickland

Well, the EA has called me back saying that £84 was rejected. However, vendor would take £86,500. So I've said OK if the carpets and white goods are included. Wait and see now.