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

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Comments

  • Riq
    Riq Posts: 10,430 Forumite
    Personally when i get around to offering i'm just going to set a max of 3 offers.

    One stupidly low
    One more serious
    Then an absolute final offer
    "I'm not from around here, I have my own customs"
    For confirmation: No, I'm not a 40 year old woman, I'm a 26 year old bloke!
  • Doshwaster
    Doshwaster Posts: 6,360 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Riq wrote: »
    Personally when i get around to offering i'm just going to set a max of 3 offers.

    One stupidly low
    One more serious
    Then an absolute final offer

    I wouldn't say the first should be "stupidly low". Go too low and you won't be seen as a serious buyer and it could be seen as insulting. It should be lower than you expect or are willing to to pay to give room for negotiation.

    Mind you, I've often heard it said that if your first offer was accepted then it wasn't low enough
  • pardal51
    pardal51 Posts: 427 Forumite
    Doshwaster wrote: »
    I wouldn't say the first should be "stupidly low". Go too low and you won't be seen as a serious buyer and it could be seen as insulting. It should be lower than you expect or are willing to to pay to give room for negotiation.

    Mind you, I've often heard it said that if your first offer was accepted then it wasn't low enough
    Hi Dosh,
    I agree, but what about if the AP is is well over the odds? Then your 1st offer could well be a "real" 2nd or 3rd offer if the price was right. I might be biased as FTB, but I feel that vendors, instructed or not by EAs, are taking the gamble to put high AP and see what happens, then after a while start reducing prices so you feel "wow it has been reduced". Again apologies if I sound biased.
  • geoffky
    geoffky Posts: 6,835 Forumite
    i always try and get a offer put face to face with a seller..its worked for me as i dont mind haggling in a uk shop..i got £90 off a unit in a shop the other day..my wife went red in the face..
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • Contessa
    Contessa Posts: 1,170 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    geoffky wrote: »
    i always try and get a offer put face to face with a seller..its worked for me as i dont mind haggling in a uk shop..i got £90 off a unit in a shop the other day..my wife went red in the face..

    Would your wife mind if I "borrowed" you occasionally-just when I want to make an offer or haggle? I'd send you straight back!
  • D2007
    D2007 Posts: 51 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I think if you offer more than 2 offers then you give the perception that you will pay whatever the buyer wants.

    1st offer should be your cheeky offer, 2nd your realistic value of the place +/- depending upon how the market is doing and how badly you want it. After that, you should walk.

    But thats just my opinion... as I am still looking for my first property so I could be totally wrong, lol.
  • confused31_2
    confused31_2 Posts: 1,272 Forumite
    geoffky wrote: »
    ..my wife went red in the face..
    was the unit that bad? lol
    I am not a Mortgage Adviser
    You should note that this site doesn't check my status as not being a Mortgage Adviser, so you need to take my word for it. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Emmzi
    Emmzi Posts: 8,658 Forumite
    1,000 Posts Combo Breaker
    I've only ever done one, which has been for the amount I think is reasonable...
    Debt free 4th April 2007.
    New house. Bigger mortgage. MFWB after I have my buffer cash in place.
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