Offer Strategy

elsteshepardo

Hi, just after a little advice on putting in the right offer, and how to make sure we don't annoy the seller

V Interested in a house - it's on the market for £275,000. It has been reduced recently from £285,000

Where we stand. Estate agent has told us they 'probably' won't accept anything less than the stamp duty.

It's at one of those prices that is v annoying, for a little more than 250, you end up paying A LOT of tax for Gordon to give to the banks...:mad:

So, I was wondering what people think is the best way to proceed.
Have been thinking this;

1) Offer 250,000 (you never know?)
2) Next (and final offer) is £265 AND the seller agrees to pay half the stamp duty.

Would you put more offers in? Any more than 2 would be a bit needy on our behalf wouldn't it?

Any ideas would be most welcome

Thanks
Ste

tenke

I would say 260 final offer, seems meeting in the middle of 275 and 250

Good luck :j

pawpurrs

The EA has given you a huge clue there saying that they will accept offers at the stamp duty threshold, so it sounds like they will accept offers around the 250 mark.

elsteshepardo

I think the 250 offer has to be made
(we're in a good position too)

with the 2nd offer - how cheeky is it to try and get the seller to help out with stamp duty?

don't want to offer 260, get refused, and lose it...not much out there where we're looking.

QTPie

Also check what similar properties have sold for (on something like houseprices.co.uk) over the past few years...

QT

pawpurrs

I dont think theres any harm in making more than 2 offers, at the end of the day the seller will have their bottom and line and you will have your top line, if the two meet somewhere you will have a deal, its silly to say you wont make more than two offers, you could get it for less, IYSWIM, although I think the EA seems to indicate that they want a minimum of 250k so perhaps they will accept that?

seraphina

I wouldn't make a first offer over 240K, to be honest.

If you don't want to pay over the threshold, why start your negotiating from there - esp. if the EA says they may accept around the threshold??

Property prices are falling at rather an alarming rate, in case the sellers hadn't noticed!

elsteshepardo

thanks for all the advice

seems like more offers is ok then

will go with something like this then

1)249,999
2)260,000
3)264,999 - max - so final offer

thanks again

pawpurrs

Let us know how you get on.

elsteshepardo

put in offer of 250,000

EA adamant that offer would not be accepted saying that this offer had been rejected recently

asked to proceed anyway

Should I have?

Don't want to annoy the vendor

Waiting for callback

pawpurrs

Good luck, I think thats ok, as its at the stamp duty threshold,its allways a very tricky price range, hence you normally get good value at the 250k mark.

I wish the people who offered on mine, thought like you, they have really made me :mad: