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Need help with making an offer
Chazolate
Posts: 167 Forumite
Hi,
I and my partner are both FTB's with a tight budget and have been looking for a property for a while. We found one that we really liked in a nice area and decided to make an offer on it. It is on the market for £113,500 and we have been told there have been a lot of viewings on the property. Due to changing jobs and not wanting to complicate the mortgage we decided to make an offer right away. The estate agent is aware that we are ready to proceed, because we had to pull out of buying a house before. We told the estate agent this was because the seller did not give us the full picture. We did not go into further detail about the unknown service charges and the fact we would not own the loft or garage being sold as part of our freehold house.
The first offer we made was for £105,000. This was declined. We then made the offer of £108,000, the estate agent said the vendors needed £110,000 to move but would see if the people they were buying from would reduce their price. A few days later he phoned back saying that they had declined the offer. After much thought we decided to say we would go to £110,000, not wanting to let a couple of thousand stand in the way of our dream property. However the estate agent phoned back saying they had declined the offer and they had added up their figures and would need £1500 more. We decided enough was enough at this point and my partner said we were not prepared to go any higher then £110,000.
It has been a few weeks now and the property is still on the market. What would you advise at this stage? Is it worth asking the estate agent if they would reconsider our offer? Or do you think they changed the figures, because they see selling to us as a risk because we have pulled out of a sale in the past?
Thanks!
Chaz
I and my partner are both FTB's with a tight budget and have been looking for a property for a while. We found one that we really liked in a nice area and decided to make an offer on it. It is on the market for £113,500 and we have been told there have been a lot of viewings on the property. Due to changing jobs and not wanting to complicate the mortgage we decided to make an offer right away. The estate agent is aware that we are ready to proceed, because we had to pull out of buying a house before. We told the estate agent this was because the seller did not give us the full picture. We did not go into further detail about the unknown service charges and the fact we would not own the loft or garage being sold as part of our freehold house.
The first offer we made was for £105,000. This was declined. We then made the offer of £108,000, the estate agent said the vendors needed £110,000 to move but would see if the people they were buying from would reduce their price. A few days later he phoned back saying that they had declined the offer. After much thought we decided to say we would go to £110,000, not wanting to let a couple of thousand stand in the way of our dream property. However the estate agent phoned back saying they had declined the offer and they had added up their figures and would need £1500 more. We decided enough was enough at this point and my partner said we were not prepared to go any higher then £110,000.
It has been a few weeks now and the property is still on the market. What would you advise at this stage? Is it worth asking the estate agent if they would reconsider our offer? Or do you think they changed the figures, because they see selling to us as a risk because we have pulled out of a sale in the past?
Thanks!
Chaz
M May11 55886.81
0
Comments
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poppy100
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I think you were being played by the EA, as part of his negotiation to achieve the best price he can for his client...the vendor.
Do not believe a word they say about "lots of viewings"...if there are so many, why aren't there lots of offers, blowing yours out of the water, or moving to completion already...
Whilst it may be your dream house, there are probably an awful lot of houses around at that price range...so others, who do not see the same things you do, have plenty of other choices.
He may have got the vibes from you that this was a dream house, and tried to milk as much as he could from you. Nothing to do with the other sale.
If "a few weeks" is over a month, then it may be time to remind them of your offer.
Perhaps drop into the conversation that another few weeks will see completion having to be after Xmas...0 -
As I am a new user I can't post a link to the property. It is a small two bedroom end of terrace, but in a really good area for the town I live in.
I went to view it three weeks ago so I know it has been on for at least a month. Thanks for your advice I am going to call the estate agent and see if they have had any other offers! :]M May11 55886.810
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