First Time Buyer, when to put in a second offer?

1echidna

Conel wrote: »

Thank you, so what would you advise?

You have put me on the spot but I don't think that without experiencing the nuances of a particular situation anyone can advise you although I have already implied I think you would be best to accept that it is a game of poker and your position is strengthened by being friendly but holding your cards close to your chest (and you will seem a more solid potential buyer if you understand that they may well wish to do the same)

Conel

1echidna wrote: »

You have put me on the spot but I don't think that without experiencing the nuances of a particular situation anyone can advise you although I have already implied I think you would be best to accept that it is a game of poker and your position is strengthened by being friendly but holding your cards close to your chest (and you will seem a more solid potential buyer if you understand that they may well wish to do the same)

Thank you, I do understand this.

But like you say, if I offer more and more they will "play me".

Oh it is oh so hard

1echidna

I do sympathise but I suppose there is some comfort in looking at it from their situation too. They don't know whether they have rejected your limit or whether you will walk away and find another property. People behave in very different ways and there is no guarantee for a vendor if they reject even a first offer that the prospective buyer will come back with a higher offer.

Conel

Hi everyone,

Not re-offered or anything yet. Still nervous regarding the market but the bf wants to put in a higher offer as he sees it that it is only a few k more.

Our (my) max offer would be 190k. Would you offer this? I don't think the EA are going to entertain anything under that? By saying this is our final offer, will they actually listen and take note?

chickmug

Conel wrote: »

By saying this is our final offer, will they actually listen and take note?

I guess in the same way EA's are accused of playing tricks so can those making offers. I have heard it, time and time again, "here is my final offer" then it increases, sometimes more than once, as time passes.

So the agents will think - here we go we've heard it all before.

Every agent is diferent, so is every person making the offer, so there is no text book way of doing it otherwise I would quote it.

All you can do is play this game which is usually the doing of the seller instructing their agent. The agent is just 'pig in the middle' and just wants an easy life with a new sale. A lot of stress for you but 'no pain no gain'.

Never again eh:eek:

ad44downey

Conel wrote: »

Hi everyone,

Not re-offered or anything yet. Still nervous regarding the market but the bf wants to put in a higher offer as he sees it that it is only a few k more.

Our (my) max offer would be 190k. Would you offer this? I don't think the EA are going to entertain anything under that? By saying this is our final offer, will they actually listen and take note?

You sound a little bit too eager too me. You could be getting played by the estate agent/vendor.

Conel

ad44downey wrote: »

You sound a little bit too eager too me. You could be getting played by the estate agent/vendor.

I think so too. I think we did sound eager...but we did leave it and they contacted us asking to re-offer, which we did but at the same offer we previously offered.

Chickmug...I thought this was the easy bit! Never again indeed!

maryotuam

Why not wait a bit longer. The quicker you get in touch the more eager you sound. Dare to seem not bothered by not contacting them for another couple of weeks. It doesn't sound like there is anyone else offering and they can't be sure another chainfree FTB will come along soon. And the housing market continues to fall despite fabricated tales of a false dawn.

princessamy86

I have to say, reading the above few posts, that if the OP really likes this house and feels they can get it within budget, then it seems unnecessary to play games. Here you have the vendor, who doesn't want to accept an offer under their bottom line, the agent who will not pass on this bottom line, and the ftb who does not want to offer too much! With everyone intent on the game playing, nothing is getting agreed. Whilst I think the EAs are jokers in this case, nobody is actually getting what they want out of the situation. Advice to OP is; offer slightly more to get negotiations open again, then push hard for a counter offer and a bottom line price. Once they have this info, THEN they can make a decision to increase or walk away. At the moment, they are just making stabs in the dark!

wheresmydoshat

delete, see below...