About to make an offer, start at asking price minus 10% ?

tek-monkey

I'd leave it a bit longer, don't act desperate. They'll call you if they want the sale.

Fatboy40

Well, the EA has called my wife back and as expected the offer of 190 has been refused.

The EA stated that they want nearer the asking price and that my wife should dicuss it with me (she does have a mind of her own !) and get back to them (I don't want to call them back until tomorrow AM anyhow). I suppose now this gets tricky.

Our own house in very good condition, to a modern standard, and which has had plenty spent on it, and went for less than we expected it would. Maybe because of this I don't want to pay the asking price for this property ?.

As stated it's on at 210, we've offered 190 but had this refused, to be honest I want to offer no more than 198 as I personaly believe it's worth no more than this. I'm now undecided if I should go straight to 198, or offer them say 196 with us possibly having to go back and state that 198 is our final offer...

Fatboy40

Should I post the link for it from Right Move ?.

tek-monkey

If you want to pay 198 maximum, just be sure not to get too attached. However if you think its worth more than 190 you should offer accordingly. I'd prob wait two days and go in at 194, but its not me that could lose the house doing so!

Bufger

personally i play hardball. I'd say 198 subject to contract final offer and if its not accepted keep me on your books as interested at this price. Then if its refused i'd book a viewing at the same estate agents for a different property and show that im not emotionally attached and im moving on. Sometimes this works (if they're hanging on to see if it really was a final offer).

Be prepared to walk away at 198. Not even an extra 500 as you need to hold a strong position throughout.

geoffky

This is a bizness decision and play it that way....its not if your going to be gazumped is it...let these people stew for a bit and look at other places with the ea...good luck and stay cool..

not_loaded

#25, #26, and #27 sum it up well.

My only proviso would be that if you really want it, you might have to give a bit.

If you really don’t care, it’s total hardball of course. Good luck!

Fatboy40

Our own EA called up yesterday, he's been a damn good agent for us and is a genuinely friendly guy, obviously to make sure that we're on top of finding a property to move on to. A year ago he went to see the property we've made a 190 offer on, and he thinks we should pay no more than one ninety somthing for it and I agree.

However, my wife, who's a good judge of character, got a funny feeling from the husband when we had our second viewing (we met the owners for a few moments before they left the house). I get the feeling he thinks his house is worth far more than it genuinely is in the current market.

So yesterdays 190 was refused, I've left it for a day and will call the EA back this afternoon with an offer of 197, and if nothing better in my area comes on by the end of September we'll maybe offer them 200.

I get the feeling we may have to go into rented, or stay with family, so that we don't lose our own buyer.

not_loaded

It’s tricky for you. If you really want it (assuming you’re going to keep it for say, five or more years) then one or two grand is nothing.

You’ll use that up very quickly on renting.

Fatboy40

I wonder what others opinions are on the situation below ?...

We made the offer of 190, which was refused. Wednesday am last week we increased it to 198 and stated that this was our final offer, which was neither refused or accepted but the EA stated that they are thinking about it and will get back to us.

Since then we've been made aware that the vendor is viewing various bungalows, some of which are second viewings, so they're seeing what they can get with our offer of 198 before choosing to accept or decline it.

Personaly I feel this is unfair, we've made a very reasonable offer on a property that has been on the market for a VERY long time with three different EA's, and we know that they have no other offers on the table and will probably not get any other than ours any time soon unless they change their attitude. The EA we're dealing with is getting fed up of them and just wants the house to be sold and off their books.

My wife mentioned to the EA this week that we need a decision by the end of today, I feel a week and a half is more than enough time to come to a decision.

So, I get the feeling we're going to have to call the EA today and force the issue as I just know we won't hear back from them (due to the vendor). We'll be telling them that we've had enough of waiting, will start viewing other properties, but should we leave the offer open or tell them if we don't hear back by the end of play today we're withdrawing the offer ?.