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Visiting vendor before putting in offer?

Hi folks, am a FTB in Scotland and looking for some advice.
My partner & I have found the perfect house, got mortgage agreed, we've viewed the house already and it's spot on. We used to live in the house opposite, know the neighbours and the area already, and my partner even knows the vendor fairly well as she used to work for him. He's moving away and wants a quick sale.
The house is being marketed for an asking price of 160k, we're going to offer 150k.
My questions are - is 150 too low? It's an asking price, not fixed or offers over (thank god). We can't go any higher, there's no room for manoeuvre there. We're also having a second viewing on Sunday so the EA isn't there, just the vendor himself. Would it be a good idea to tell him what we're offering, off the record, to gauge his reaction or should we wait and let the solicitor do it officially?
Thanks in advance folks.........

Comments

  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    What is the point of gauging his reaction? You are offering the max you can, so there is no game to be played of getting it for the best price.

    The only benefit is to let him know that your offer is the max you can afford with the sub text that there is no game to be played of asking for more. Depends how well you know him
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Running_Horse
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    I did this once before going to the EA so we knew exactly where we stood and didn't have the usual to-ing and fro-ing. Sadly the sale fell through for other reasons, but if you know the vendor it could explain your low offer, or let you know if it is a waste of time.
    Been away for a while.
  • The reason I'd like to put it to him is to see if it is a waste of time to be honest - instead of going through all the motions etc. We know there's a few other interested parties but they all have properties to sell, so I think that puts us in a strong-ish position. Cheers folks.
  • Patr100
    Patr100 Posts: 2,710 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    It's only a waste of time if he gets a better offer who can follow through for a quick sale. There is interest but you don't know if he will get a better offer. The EA should be advising the vendor what is a realistic offer. maybe 150K is realistic?

    I would simply offer what you can afford and be clear it's your absolute limit but get the EA to put it in writing anyway.
    Depending on the market they may be glad of such an offer later down the line.
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