1st, 2nd, 3rd offer... how many before you call it a day?

Made_Without

As per the title

It seems that noone ever expects the first offer to be accepted, but how many times is 'acceptable'?

In the past, it's always been my 2nd / 3rd offer to be 'accepted' so have never had to contemplate going in for a 4th.

C*F

DaveyDave_3

You should not need to make a 4th offer. If your second offer isn't accepted then walk away.

azkaban420

We've usually stopped at the third, with that being our full and final, depending on the property.

Had our third offer accepted a while back on a property, but that was because by the refusal of the second offer, we'd gauged enough from the selling EA for what they would have accepted, and it was in our budget. If it wasn't we'd have walked away at the third offer if it was declined.

Az

TBeckett100

add £500 and make it the final offer. expect a call within the week when they find viewings rather flat.

Henry_P_Chester

TBeckett100 wrote: »

add £500 and make it the final offer. expect a call within the week when they find viewings rather flat.

Flat = non existent

neverdespairgirl

No set answer, I'd have thought.

I know when my parents last bought, they made a low offer, but said they wouldn't mess about on the survery for a few quid here and there, and would be quick, and it was take-it-or-leave-it. Worked for them, one and only offer.

Doozergirl

There is no answer. You decide how you break down what you want to pay into offers.

The vendor doesn't accept just because you're on number 3, not should you feel pressured into making your best offer at number 3. However, if you are that far in, then you should be demanding counter offers from the vendor so you can at least see what the ballpark is and adjust your offers accordingly.

Ultimately, your last offer is your best price. You set that before you make your first offer and judge how things are going as to how many you make.

tawse57

Make one offer, make it very clear that there will only be one offer, make it clear that the offer is only viable for a week, a fortnight or a month max.

You are buying the biggest most expensive thing you will ever buy in your life. This is a house and sadly many on here seem to have been brainwashed by estate agents and property !!!!!! TV that you have to pay near the asking price. Prior to this bubble very few houses sold for more than 90% of asking price.

This is not financial advice, just an observation.

Doozergirl

tawse57 wrote: »

Prior to this bubble very few houses sold for more than 90% of asking price.

Where do you get that from? What does that even mean? Why don't vendors just set their prices higher to suit your strange figures? What correlation does selling:asking price actually have? Market value is market value - bears nothing to asking prices. I can ask £1 or £1million, means nothing.

Also, I wouldn't entertain one demanding offer. A property is either good enough to buy or it isn't. most people will presume that there is a short lifespan on an offer coming from someone in the market to buy - they are out there looking to spend their money.

I think it's possible to persuade people to come down on their original expectations by being engaging them and by having proper negotiations. The first offer can be an insult to people which they reject offhand, also there is an understanding of sorts out there that the first offer isn't serioius, but subsequent offers set them thinking.

One reasoned offer may well be accepted but it won't generally be because the person offering was a dictator.

Armchair house buying = treating people like something on the bottom of your shoe because you have an inflated sense of entitlement. Try doing business like that successfully in any environment.

westv

Doozergirl wrote: »

However, if you are that far in, then you should be demanding counter offers from the vendor so you can at least see what the ballpark is and adjust your offers accordingly.

Yes, without any counter offers you might be wasting your time.

poppysarah

Chocolate*fish wrote: »

As per the title

It seems that noone ever expects the first offer to be accepted, but how many times is 'acceptable'?

Why not?
They do.

but if you're foolish enough to up it then they will keep pushing... the more you up your offer the more desperate they know you are.