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Nervous FTB
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
My gf and I are FTBers and just put an offer in on a house we both love. The estate agent is calling us at 9.30am ...
I'm soooo nervous! Is an offer of 196K reasonable when the asking price is 199.5K ?
I'm soooo nervous! Is an offer of 196K reasonable when the asking price is 199.5K ?
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It depends, as always on the house, the area, how long it has been on the market etc etc etc.
I'd say that your offer was very reasonable, but it depends on the above.
Good luck, me and my gf are in the process of buying our first house too!0 -
good luck ringo. let us know if you get accepted or not.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
The house has been on the market only since last friday, we're lucky because we're the first people to see it. It's in borehamwood (town just outside of London in Hertfordshire), but still in London's transport zone 6. Walking distance to the train station, 18 y.o. house in nice area, lots and lots of young couples as it's mostly 2-3 bed houses. Current owner want's to move to the isle of wight. She seems a bit nervous of the home moving process.
We're the perfect buyers; 10% deposit, no chain, once we've got things moving we've told them we're not in a rush to move in, we'll give them plenty of time to get things sorted in terms of their move. Owner is going to IoW in 2 days for property viewing; we're hoping that getting an offer in before she moves will giver her a great incentive to accept it. The EA also made the hint of how much to offer. Houses in that area typically sell at 200 - 210K and the house is in good condition.
I need a drink0 -
tea I hope;)It is unwise to pay too much but it's worse to pay too little. When you pay too much, all you lose is a little money... that is all. When you pay too little, you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot...it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run and if you do that you will have enough to pay for something better (John Ruskin - 19 ctry author, art critic & social reformer)0
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ringo_24601 wrote:The house has been on the market only since last friday, we're lucky because we're the first people to see it. It's in borehamwood (town just outside of London in Hertfordshire), but still in London's transport zone 6. Walking distance to the train station, 18 y.o. house in nice area, lots and lots of young couples as it's mostly 2-3 bed houses. Current owner want's to move to the isle of wight. She seems a bit nervous of the home moving process.
We're the perfect buyers; 10% deposit, no chain, once we've got things moving we've told them we're not in a rush to move in, we'll give them plenty of time to get things sorted in terms of their move. Owner is going to IoW in 2 days for property viewing; we're hoping that getting an offer in before she moves will giver her a great incentive to accept it. The EA also made the hint of how much to offer. Houses in that area typically sell at 200 - 210K and the house is in good condition.
I need a drink
I know an excellent broker based in Borehamwood if you are interested.
Try not to get wound up about the negotiations - what will be will be....
have you read the housebuying tips sticky at the top of this board?
MMI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
We're using a broker and solicitor who are family friends, so that's why I'm not worried. Thanks though. Will post a new message when i have news. I'm lucky that we are able to afford the asking price if needs be.0
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I dont think you need to worry too much, you are, as you say, the perfect buyers and Im sure she will seriously consider your offer. If she wants another thousand or so, you can manage that anyway.0
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Doh...
Offer Rejected.
We now have a choice - we can offer 199K or we can offer the asking price 199,950.
We had always planned that the house would cost 200k anyway, so should we just offer the asking price, get the house off the market and have peace of mind?0 -
NO NO NO
Go back and offer 197KI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
it depends if you feel the house is worth £199K, plus it's only been on the market for 6 days. If I were the seller I'd probably hold out, especially as she hasn't found a property yet0
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