Is it best to make two or three offers?

Generali

smiddy wrote: »

Good advice Generali, so much so ive phoned the EA and gone ahead with it. Basically i told them if it is too high i am prepared to walk away (so it hopefully means they will be reasonable) but if the price is right they have sold it. Yes, i would expect to meet in the middle somewhere so fingers crossed it goes well.

HTH.

Please come back and let us know how you go.

Cleaver

smiddy wrote: »

Good advice Generali, so much so ive phoned the EA and gone ahead with it. Basically i told them if it is too high i am prepared to walk away (so it hopefully means they will be reasonable) but if the price is right they have sold it.

Sounds like a good plan. As Generali said, you've put the ball in their court and made them realise that they can't be too cheeky otherwise you'll just leave it. I reckon they'll come back with £210k, final offer. You tell them it's £208k and they have a deal.

lostinrates

smiddy, lucky you...the agents for ours said they didn't to discuss anything til Tuesday...don't we know its Easter...

Generali, sure you don't want to bid on mine for me?

Davesnave

lostinrates wrote: »

.don't we know its Easter...

Sounds like a song! Let's hope that's what it's going for.:rotfl:

At least you get a cooling off period.

lostinrates

Davesnave wrote: »

Sounds like a song! Let's hope that's what it's going for.:rotfl:

At least you get a cooling off period.

yeah, we're fairly on the fence tbh. Lovely, beautiful place, but not totally unblighted. Handy to be near a tip I suppose...:o. There are very, very good plus points, and as always, a couple of less great ones. So, our plan is to throw in what we think is a sensible offer....see what fate says. Nice not to be too keyed up over somewhere for a change!

Davesnave

lostinrates wrote: »

Nice not to be too keyed up over somewhere for a change!

That's how we were over this place, and also the reason why we got it at the right price.

It was a high risk strategy, and one that didn't pay off in Wales, hence the fact that two places we wanted are still for sale. One other, which we realised wasn't for us after a short period of being besotted, has sold and can be found here:

http://www.cilwg.co.uk/

Looks like it went to the right people too.

Let's face it, we could never have lived in a place which the English always called 'sillywig!' :rotfl:

ruggedtoast

smiddy wrote: »

Just after a bit of advice when placing offers as a FTBer.

I am prepared to offer up to £205k on a property and was wondering wether to go £198 - £202 - £205k in three offers OR £198 - 205k in two offers. £205k is my absolute maximum.

Basically i do not want them to turn around after the first offer and say they will take a minimum of £210k for instance. It is priced at £220k.

How much do you think its worth? If £205k is about your appraisal of the market value, and you love the house, I'd go to that fairly quickly.

Theres no forumula for making offers, I've been on both sides of the fence; if you have a 'good' offer from proceedable buyers you're more likely to take it than risk a few grand and have them find another house.

Fwiw I had an offer accepted weeks after it was initially rejected, my mortgage broker said this is happening a lot at the moment as sellers are getting a lot of interest but not many actual offers.

lostinrates

Davesnave wrote: »

That's how we were over this place, and also the reason why we got it at the right price.

It was a high risk strategy, and one that didn't pay off in Wales, hence the fact that two places we wanted are still for sale. One other, which we realised wasn't for us after a short period of being besotted, has sold and can be found here:

http://www.cilwg.co.uk/

Looks like it went to the right people too.

Let's face it, we could never have lived in a place which the English always called 'sillywig!' :rotfl:[/QUOTE

I've always fancied a couple dexters, I understand them to be a little capricious though. My family farmed jerseys, so I ''get''capricious, but want to keep things easy.

JayScottGreenspan

Before you offer:
* Work out what the house is 'worth'. (Use: http://www.houseprices.co.uk/ , use streetview, look at the square footage, etc..)
* Work out the maximum you are prepared to pay (might be more than its worth, might be less, depends on you).

(Note: these first two steps should have absolutely nothing to do with the asking price. Just because they put a realistic/ludicrous price tag on it should affect neither it's value nor your limit)

Offering:
* Work out your first offer. Expect it to be rejected.
* Ask them to make the next move.
* When increasing your offer, increase it by small amounts. And reduce the increments. Maybe increase by £2k first time around. Then by £1k if that gets rejected. You don't want them to get the sense you can be pushed too far.

Wheezy_2

And don't be rushed into increasing your offer. Take your time and give them the impression you are really struggling to scrape an extra couple of K£'s together...even if you know you can easily go higher.
And keep underlining the fact you're FTB and can move fast, funds in place, deposit OK, etc...etc....a quick and hassle-free sale is worth a couple of grand also.