Is it best to make two or three offers?

Conrad

Wheezy wrote: »

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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.

Cos EA's and sellers will be swept away by that one for sure:rotfl:

When you sell, I presume you in turn will sell for a nice low price to help out my FTB son one day?

Wheezy_2

Conrad wrote: »

Cos EA's and sellers will be swept away by that one for sure:rotfl:

When you sell, I presume you in turn will sell for a nice low price to help out my FTB son one day?

Sure, if your son is chain free, can move quick and looks like a decent buyer, I'd rather sell it to him for a bit less rather then getting involved in an endless chain or other headaches. But not too low of course

Pennywise

I've bought two houses so far and each time I've made one offer and made it absolutely crystal clear to the EA that it's the first and final one. In each case, I made what I thought to be a fair offer, not too low, not too high, based upon a proper research of other homes on the market and historic actual prices. Both times, the vendor rejected the offer, clearly expecting me to come back with something higher. Both times, I walked away. Both times, EA came back to me a few days later asking me to up my offer - I reminded them I had made my first and final offer. EA them came back another few days later with a sellers "suggestion" of a compromise, a few thousand over my offer. I again reminded them I'd made my first and final offers. Eventually, both times, the seller accepted my first and final offer. I'd do exactly the same again next time.

I applied the same logic when selling a house which I've also done twice (once my own, the other an inheritance). Despite EA suggesting what I thought were unrealistically high asking prices, I insisted on the properties being put up for what I thought was a realistic price, again having regard to other properties on the market and recently sold. I also made it clear to EA that I wouldn't accept offers. It was asking price or nothing. As expected, there were some idiots making silly offers, but both times, sensible offers were made, on one house it was for the asking price, for the other it was £2k below the asking price on a £155k house. I accepted both times - the second/lower offer being accepted on the basis of the buyer not having a chain and having monies in the bank and the condition of acceptance by me was completion within 2 months otherwise the deal was off.

I'd do exactly the same again. I hate all this "bargaining" and "offering" lark. There's no need for it. It's nothing more than playing brinkmanship and trying to screw over the other person. It's the same when I go abroad on holiday to third world countries - I'll never get into haggling when buying anything - I always find the "proper" shops with proper price tags. It's the same when I trade in my car for a new one - again, I do the research, get the car price guides, research the internet etc - if I see a car I like, I'll go to them and tell them what I'll give for the car and what I expect for part-exchange - they can take it or leave it - I'm more than happy to walk away and simply won't haggle - they soon get the message - many times I've had a car salesman run after me as I'm getting back into my car to drive away! The key is to be reasonable - not start at stupidly high or low amounts.