How low would you go?

Made_Without

LittleMissAspie wrote: »

House 4, asking £140k. Offered £133k, rejected so upped to £136k and was accepted.

Congratulations!!! :j

Keep us posted

C*F

FTBFun

On the property I completed on on Friday, at an AP of £188k I originally offered £168k, which was rejected; then £175k and I was told "the vendor is looking at £185k and will meet you halfway", so I offered £178k, which was the final amount.

Offering 30% below is just a waste of time IMO, but I did buy in London.

Made_Without

FTBFun wrote: »

On the property I completed on on Friday, at an AP of £188k I originally offered £168k, which was rejected; then £175k and I was told "the vendor is looking at £185k and will meet you halfway", so I offered £178k, which was the final amount.

Offering 30% below is just a waste of time IMO, but I did buy in London.

You found a place in London for £178k!!!1 That's amazing!
What part of London if you dont mind saying...

C*F

ray123

Chocolate*fish wrote: »

No you are under no obligation to disclose any further information.
Has your offer even been accepted? Or are they asking you to do these things prior to giving you a yes / no.

C*F

The offer has not been accepted or rejected. I feel like they are simply trying to squeeze information out of me.

I would be happy to provide a 'sanitised' version of my agreement in principle i.e. a copy of the AIP with any financial info removed.

Thanks for the advice.

FTBFun

Chocolate*fish wrote: »

You found a place in London for £178k!!!1 That's amazing!
What part of London if you dont mind saying...

C*F

Peckham.

Not as bad as you'd think, especially near the Rye.

It's even cheaper north of Peckham High Street, i.e. a decent sized one bed was on the market for £160k, but its slightly rougher (but not a hell hole).

partickz

It does depend on how realistic the Asking price is. The internet has plenty of sold data. On a nearby development we have viewed two properties through "open house" days. These properties are practically identical. One is £104k the other is £111k.

The property bee history shows that they did chase each other down until one seller probably could not afford to go any lower. My decision to offer would be based on the realism of the £104k price vs the £111k.

Made_Without

ray123 wrote: »

The offer has not been accepted or rejected. I feel like they are simply trying to squeeze information out of me.

I would be happy to provide a 'sanitised' version of my agreement in principle i.e. a copy of the AIP with any financial info removed.

Thanks for the advice.

Yep - definitely do that - that bolsters your position BUT do not share anything more. I've put my offers in earlier today and already I've had the financial adviser for one of the places calling :mad:

Good luck btw!

C*F

FTBFun

ray123 wrote: »

The offer has not been accepted or rejected. I feel like they are simply trying to squeeze information out of me.

I would be happy to provide a 'sanitised' version of my agreement in principle i.e. a copy of the AIP with any financial info removed.

Thanks for the advice.

I had this too.

In the end I spoke to the guy on the phone and gave him as little detail as possible on my AIP i.e. my LTV and who it was through. I reckon they'll just want to check you're a serious buyer.

I can think of one EA chain whom might be pushy, but them Mini's don't pay for themselves!

ray123

Chocolate*fish wrote: »

Yep - definitely do that - that bolsters your position BUT do not share anything more. I've put my offers in earlier today and already I've had the financial adviser for one of the places calling :mad:

Good luck btw!

C*F

Good luck to you too! One more thing, do you think I was naive to provide the fact that I have a 25% deposit?
Would like to know for future dealings with EAs. I felt that by providing this information, the EA would take my offer more serious, however, it seems to have made no difference!

Thanks again for the great advice. Am a FTB who has a lot to learn.

LittleMissAspie

Chocolate*fish wrote: »

Congratulations!!! :j
Keep us posted

Thanks It was a while ago so we should be exchanging soon. It's gone pretty smoothly so far.

Chocolate*fish wrote: »

I've put my offers in earlier today and already I've had the financial adviser for one of the places calling :mad:

I'd be surprised if you came across an agent that DIDN'T try to sell you their mortgage service or legal services. It gets quite annoying in the end...