Help-what to offer!!!

TopKat*1

I just want to know what people think is reasonable to offer, i find it quite embarressing putting in cheeky offers (although I know it could save me a bomb) We have seen a house which we know is now owned by persimmon as they part ex'd it with the owners, we know they gave them 160k for it, its on at 169k what do YOU all think they will take?

Mini_Bear

150k - 160k, any less and they will probably rent it out until the market "picks up", hahaha.

TopKat*1

Why is that funny mini bear?

basically what i am asking is---is it likely for a company like persimmon to accept below what they paid for it (within reason) as they have made so much on the new build sale??

pawpurrs

Unlikely initially as P/E is normally under market value anyway, but they might at a later stage. But theres still no harm trying.

TopKat*1

even 5k? for a quick sale

pawpurrs

Its deffo worth a shot Topkat, bung in an offer and see, only they know how much they will accept.

TopKat*1

thanks pawpurrs

well i have a heads up as someone i know has told me all this info, the estate agents rang said they have a property coming on the market in the area i am looking but are just waiting for the hip to be done, but i know it is this house persimmon have bought from someone. but if i put an offer in the first day it comes on market maybe i look a bit keen

pawpurrs

Perhaps, but theres no point playing games, if you want it go for it, you could wait untill its been on a while and it could sell to someone else, at the end of he day you will have a price you are willing to pay for it, and they will have a price that they are willing to accept, if the two meet you have a deal if not, you can strike it off your list and think again. It doesnt matter if iits been on a day, a week or a year. Admitedly the longer its on then they may start to consider lower offers, but if you wait you could lose it too.
I take it you havent even seen it yet then? So it may well not be for you anyway.

TopKat*1

yes totally agree we should just go for it and stick to our limit

we havnt seen it but where we are looking is a new-ish estate and its a 4 bed detached and we've seen a couple of others down there which we liked but could not afford it then we have since saved alot, so are in the position to go a bit higher.

if i start off a bit lower what do u think i should go up in if they decline, 1k's 2k's etc

pawpurrs

Make your first offer and see if they come back with a counter offer, personally I dont see the point of 1k increments if you were that close they would say so, and making loads of offers with 1k increments IMO is silly, although I know others will disagree. Just put in your first offer and see what they say, and go from there.
If your a FTB then make sure you have an agreement in Principle sorted and your soliceter sorted, and emphasis that your keen for a quick sale and have allready sorted out your mortgage, and soliceter. Tell them what sort of survey your having if any. Also if you have more than a 10% deposit let them know this as well, all goes in your favour if you look like you know what you are doing.

TopKat*1

yes our mortgage is already arranged as we were buying a repo in feb but were outbid at last minute, also the solicitor is ready to go, should i tell the estate agent this so they know we can proceed quickly? should i take our mortgage letter with me to the viewing so the estate agent can see we are telling the truth?

i want to do all i can to ensure we get this house