FTB: Found a house - What to Offer?

brit1234

Put an offer of £141,000 and mention to the estate agent that all the major economists predict price falls in the next year.

It should break the sellers will and will reduce their asking price.

tek-monkey

So your plan when having an offer refused is to lower the offer? Strange tactic!

Ditto

I've learnt by viewing houses recently is to research the market and find out if the house is priced to sell.
I've offered 10% below asking price, then 5% both been refused. Then someone comes in and offers asking price, which is accepted. I could kick myself for not going in with the asking price and getting the house. It seems people do have the money to buy houses at asking price.

Bufger

it depends what you think the house is worth. If you think its a steal at asking price then go in with asking. If you think it needs work but would be a steal with a bit done to it then work out how much time and effort that work will cost and offer accordingly.

I got an offer 5% below asking accepted and i would have payed asking price. This was only because i gave the impression from the start that i wasnt messing around and im comfortable in organising and getting things done. It helped that i had just finished work and turned up in my suit and a new Jag!

tek-monkey

There are definately two types of house near me at the moment, those priced realisticly and those priced by people who are hoping they've not missed the peak. On rightmove I have a saved search, it finds around 55 houses most of the time. I'd say 45 of these have been on there since I started looking around 2 months ago, the other 10 are coming on and selling quite fast. People are definately buying, but only those priced well.

poppysarah

You don't have to put a higher offer in. If they've had few viewers they may get back to you.
Don't feel obliged to pay over the odds[1].



[1] The odds being the price you want to actually pay, not the price they think it's worth. The market isn't what it was. All those green shoots are actually just mould!

tek-monkey

Just to add to what I said above, I have noticed another trend recently. Houses that didn't sell get removed for maybe a fortnight, then reappear. I'm seeing houses I viewed over a month ago getting emailed to me by rightmove as new, and I don't think they're with different estate agents.

Yakubu22

Simon83 wrote: »

We put an offer in this morning, 143,000... Agent called back to say the owners thanked you for the offer but they are going to decline as they are looking for an offer nearer the asking price....

So we will look at putting an offer in for something like 147,00... Is it best to wait a couple of days before putting a 2nd offer?

Hang fire Mr Simon. Go to houseprices.co.uk and find out what the current owners paid for it. Alternatively see what neighbours paid for the equivalent house on the same street. IMO you should be looking to offer something that matches prices around the 2004-5 mark. Unless of course they've spent a load money modernising etc. Which you would factor in your offer.

OR call back the EA and explain you are chain free FTBs with funds in place ready to go etc...but you cant move on £143k. And you wish to leave that offer on the table. Put the pressure back on the sellers