Have I been too keen with my first offer?

loulou41

I made an offer of 295k on a house of neary 305k. I only did that because EA said, that the lowest offer she will consider and did not want to go back and forth increasing bit of £500 a time.Of course it was rejected and I have increased my offer my another 2k. Hubby is giving me grief as he told me my first offer should have been 290k and then I could have increased it to 295k. Is he right, as it is now, he says he is prepared to loose the house and will not increase the offer anymore. House in this area was sold for 250k two years ago. Another house came back on the market in the same road at nearly 300k. Same size but not with double glazing as it has the orginal stained glass on the windows which are very nice. He said, we are not in a hurry to buy we should wait and see. Any advice on this, thanks.

wigginsmum

Really it's something you need to sort out with your husband. I think your original offer was reasonable, as was upping your offer - depends how badly the two of you want the house. It doesn't matter if you start lower - the seller will only sell at a price they're comfortable with.

beaker141

I think either approach was fine. At the end of the day they have rejected 295 and 297, which is getting pretty close to their asking price.

Unless you really must have this house I'd let the seller sweat it out now. If they really want to sell I would have thought they would accept your offer - but depends on their forward plans and their opinion of how valuable their house is. Some people accept an EA valuation as written in stone and wont budge unless they get exactly that.

alanobrien

It partly depends on what houses go for in the area.
In my area a 95% offer would be typical and houses mostly sell for more than that around here.

jockettuk

he might not be in a hurry to buy but can he afford to wait.. my oh bought a house in june 2004 for exactly this reason and its gone up by £20,000 of which we couldnt afford now if we was looking..