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Where should I pitch an opening offer?
edthomasj
Posts: 21 Forumite
Dear all
Mrs & I are looking to place an offer on a property asking 125k, NW england....we have agreement in principle to cover the asking price price however....
1. been on market for 6m+
2. agent is is bairstow eves (countrywide group)
3. just don't believe any more than 115k is apt
I don't particularly like this estate agent! They seem even more 'in your face' than other agents. As the EA has all the experience and we have little, I'm wary of our insecurities being played on when I put that initial offer in....
Of course they will also see the agreement in principle before they pass on the offer, as mentioned covers to 125k
Would appreciate your experience in advising how I might play this.....it's hard to keep a cool head when you also really like the house too!
Many thanks all
Ethomasj
Mrs & I are looking to place an offer on a property asking 125k, NW england....we have agreement in principle to cover the asking price price however....
1. been on market for 6m+
2. agent is is bairstow eves (countrywide group)
3. just don't believe any more than 115k is apt
I don't particularly like this estate agent! They seem even more 'in your face' than other agents. As the EA has all the experience and we have little, I'm wary of our insecurities being played on when I put that initial offer in....
Of course they will also see the agreement in principle before they pass on the offer, as mentioned covers to 125k
Would appreciate your experience in advising how I might play this.....it's hard to keep a cool head when you also really like the house too!
Many thanks all
Ethomasj
0
Comments
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I'm in North West (Bury area) and my personal opinion (after looking for a house to buy for last 2 years) is that Bairstow Eves consistently overvalue.0
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You dont need to show them you AIP.
Depends on how much you want the property as to what offer you put in. But as a rule of thumb, I would make a max of two offers. if the second offer rejected, walk away. If you try and negotiate further, the EA will think they have you by the b***s.
Just my two-pence anyway.
Good Luck!!!0 -
I have never shown an offer in principle to an agent. And even if they want to see it before you offer, you can say that there is no accepted offer, so there is no point.
If they cut up rough about not putting the offer forward you can say that you will contact the vendor direct. Whatever they say there is always an answer. Even if you can't think of one, you can walk out of their office and come here for inspiration.
You could photocopy your offer letter and typex out the actual figure and photocopy again.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 ForumTeam0 -
95.
If you watched kirsty and phil last night you'd see how phil was proved wrong about putting in a very low offer.0 -
Cheers folks. Much appreciated0
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3. just don't believe any more than 115k is apt
Then offer 1150 -
My house was on for 110k. I offered 95k thinking I wouldn't get it for less than 100k, but it was accepted!0
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I would agree with starting lower than £115K. Better to work up as there is no scope to negotiate down (unless your offer is accepted and the survey flags up something, but that is some way down the line).0
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There is a really excellent thread here, that should give you some pointers:
http://forums.moneysavingexpert.com/showthread.html?t=19070590
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