Opening offers for a FTB

BeccaBell

So we went to view the property (Saturday) complete with two extra pairs of eyes to seek out things we didnt. Opened every window, door and cupboard, checked water pressure, heaters etc (was quite glad the vendors weren't around for this as it felt very much like snooping!). Discovered a couple of things we hadnt noticed before.

We decided to open with an offer of £164,950 and after psyching ourselves up , we were told by the unpleasent girl at the EA's office we couldnt make an offer as it was after hours (it was 4.30pm and they closed at 5.00pm) and someone would get back to us on Tuesday! Still not heard anything despite calling first thing this morning. Of all the scenario's imagined this was not even being able to tell them our offer was not one of them :mad:

I really hope this is not a sign of things to come in the process as this is clearly a problem with the EA and not the vendor, should I let this put me off? At the moment it hasnt, but made I know I shan't be using them when I am in a selling position!

azkaban420

BeccaBell wrote: »

So we went to view the property (Saturday) complete with two extra pairs of eyes to seek out things we didnt. Opened every window, door and cupboard, checked water pressure, heaters etc (was quite glad the vendors weren't around for this as it felt very much like snooping!). Discovered a couple of things we hadnt noticed before.

We decided to open with an offer of £164,950 and after psyching ourselves up , we were told by the unpleasent girl at the EA's office we couldnt make an offer as it was after hours (it was 4.30pm and they closed at 5.00pm) and someone would get back to us on Tuesday! Still not heard anything despite calling first thing this morning. Of all the scenario's imagined this was not even being able to tell them our offer was not one of them :mad:

I really hope this is not a sign of things to come in the process as this is clearly a problem with the EA and not the vendor, should I let this put me off? At the moment it hasnt, but made I know I shan't be using them when I am in a selling position!

Well done for making an offer, shame about the incompetent EAs, maybe it was some admin person who didn't know how to deal with the call! Keep on at it, and keep us posted!

Az

BeccaBell

First offer has been rejected (big suprise lol) though the EA has come back with items they will be leaving. There are a couple of white goods they are leaving however I feel a bit funny abouit having the thinsg they are leaving second hand and my parents have offered to buy us the items as a moving in gift so are not needed. Its also been noted that the window frames are rotting we were going to replace these anyway so we didnt mention this when making the original offer.
When going in with our 2nd offer should we say this, should we also make the estate agent aware of the fact there are 2 other flats in the building on the market. So unlike many others it is not a "one off" but one of " three identical" this ones has also been on the market longest. Also is £167,000 a good second offer? Or am I jumping up too much? Thanks so much for all help
B x

TBeckett100

BeccaBell wrote: »

First offer has been rejected (big suprise lol) though the EA has come back with items they will be leaving. There are a couple of white goods they are leaving however I feel a bit funny abouit having the thinsg they are leaving second hand and my parents have offered to buy us the items as a moving in gift so are not needed. Its also been noted that the window frames are rotting we were going to replace these anyway so we didnt mention this when making the original offer.
When going in with our 2nd offer should we say this, should we also make the estate agent aware of the fact there are 2 other flats in the building on the market. So unlike many others it is not a "one off" but one of " three identical" this ones has also been on the market longest. Also is £167,000 a good second offer? Or am I jumping up too much? Thanks so much for all help
B x

remember if they are leaving things, you are not obliged to pay for them!

use my trick, say you will increase by £2,250 but that is it. You have to sell some shares to fund that etc etc. Say you need an answer by 4.30pm as you wish to offer on another property

BeccaBell

Have decided to wait till tomorrow to put offer two in, as my OH thinks we should make them sit a while as we are the ones with cards to play and should proceed calmly rather than running back and forth!

Johnocyprus

BeccaBell wrote: »

Have decided to wait till tomorrow to put offer two in, as my OH thinks we should make them sit a while as we are the ones with cards to play and should proceed calmly rather than running back and forth!

Great strategy, if you have the coolness to do it I'd wait another day and offer only a thousand more reaffirming you are considering other properties. Remember it's a buyers market and take advantage of that.

thewinkshow

opening offer would be 10-15% under to get the ball rolling.
offer then walk away, you may be surprised to get a phonecall with them accepting
if they dont, trust me there is always another property
dont overpay, you are in the strong position, let them know this

BeccaBell

Went in with a second offer, OH pointed out the window frames are rotting so will need to be pulled out and replaced (As I was changing the windows through "want" rather than "need" we had not originally pointed this out) went in at 1500 more so we are back waiting!
Thanks for everyones help and advice its massively appreciated!

BeccaBell

So offer 2 was rejected, EA has told us that the vendor is looking to achieve £170k due to price she paid (I know this was £164k) and the costs she has put on the property.
This has annoyed me because what she has spent the money on is things like the carpets, curtains and kitchen but hasnt bothered to put in decent windows or radiators things that would actually add to the value! A nice decor is all well and good but if its not to the taste of the buyer its not adding value.

I am considering one more offer but have booked an appointment to see a flat in the same block which I have already seen twice.

Was debating whether to offer £168,500 or £168,950, the woman has not even started looking yet and the fact we will be hanging around for months (she wants a house in the area and there is a shortage of houses...saturated with flats though!) puts me off offering more. We are prepared to walk away and though we feel a bit about losing a gorgeous property we aren't willing to fund someone elses poor decisions!

iB1

I'd make a final offer of £168,000 and leave it at that. If the vendor is sensible they'll be willing to come down from £170k I reckon.