When to make an offer? Time of day/particular day?

sarahmoo

Sounds strange but is it better to make an offer morning or afternoon, monday or friday/ weekend? Is it better to make an offer in september than august (strange thought!)

Cheers !

poppysarah

Begining of the week maybe so they've got the week to think about it and EA is open to take their reponse. Saturday would be rubbish as the EA probably closes early and might not open on Sunday.

If you're not sure about making an offer go and do another visit.

lossofbargain

our buyers made an offer 20 mins after the viewing so I knew they were very very keen. We did the same on a house we liked, but withdrew a few weeks later when it was the world cup and too many neighbours had englad flags up at the windows and on their cars.

On our current purchase, I left offering until the Monday morning.

Philkm

lossofbargain wrote: »

our buyers made an offer 20 mins after the viewing so I knew they were very very keen. We did the same on a house we liked, but withdrew a few weeks later when it was the world cup and too many neighbours had englad flags up at the windows and on their cars.

Why, was it in the middle of Glasgow?:rotfl:

SimonMrGreenWard

Just go for it whenever you like. Don't stick in a full asking price offer within minutes of looking at the place (unless there's unreal interest) as the vendor will likely start to think their house is worth more than what they've advertised it at.

Always put in a lower offer.

sarahmoo

Yeah.... thanks for that.... ON reflection I think I probably seemed quite keen when viewing. I have seen the house 2x now. Once on own and once with dad. It's on at £250k ...every room needs redecorating tho.... think I may go in on Tues at £230k.... or should I go lower? They have had 2 sales fall thro so far (due to various circumstances probs with chain) and I m a cash buyer. They havent got anywhere to move straight into tho.... hmmmmmmmmmm....I dont want to lose it but want to get a sensible deal

mark5

I think 230 is high for an opening offer on a house on for 250.

westlondonbuyer

I'd make an offer at £225k, which is 10% under asking price and perfectly reasonable in the current market, particularly as you're a cash buyer. My guess is that the vendor will suggest a counter-offer of around £238-240k, and I'd then expect to meet them halfway or so and close the deal around £230k.

moneysavingplumber

I'm personally not too superstitious about when or how to make an offer. The worst case scenario would be really wanting the house, waiting until a particular day to make a strategic offer, and then finding it then has another offer on it or has been sold. With the house that our offer has been accepted on (although is now stalled as they vendor has pulled out of their purchase), I did use sites like mouseprice and nethouseprices to get an idea of what the property was really worth, and then offered a few £K under that, within an hour of our second viewing on a Saturday afternoon. That was rejected as we thought it would be, and we had a subsequent higher offer accepted the following Monday at roughly what we believed it was worth. In the end, we really wanted it so didn't bother trying to play games with the agent, but ultimately we weren't prepared to offer more than what we could afford or what we thought it was worth.

RichPyke

be cheeky and go in at 200 for the first offer, the worst they will do is say no chance.

10% under asking is a good offer at the moment (provided asking price is in line with current sold prices in the area), so start at 20% under and make them work you up to 10% under... if they want it sold they can do the work, you have a lot of other houses available, they probably don't have as many buyers interested...

That's how I am playing it with the one I am going to go for (starting at almost 25% under asking price!)

Also use propertypriceadvice and zoopla to get a rough valuation (although I have found zooppla to be very high and ppa to be very low)

Philkm

RichPyke wrote: »

be cheeky and go in at 200 for the first offer, the worst they will do is say no chance.

10% under asking is a good offer at the moment (provided asking price is in line with current sold prices in the area), so start at 20% under and make them work you up to 10% under... if they want it sold they can do the work, you have a lot of other houses available, they probably don't have as many buyers interested...

That's how I am playing it with the one I am going to go for (starting at almost 25% under asking price!)

Also use propertypriceadvice and zoopla to get a rough valuation (although I have found zooppla to be very high and ppa to be very low)

Everybody is different but I can't imagine I would advertise a house at a price knowing I would accept 25% less than that?