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Making my first ever offer

As a FTB I am about to make my first offer on a property. What is best way to make an offer, phone or email? As a ftb with no chain i will be working this angle alot. Should i give reasons for my offer after the value or before, I would say its not a big difference but if reasons before be better. I read offers should be subject to survey an contract. Ami missing anything?

This property has been on for just under a year, it originally when on at 179k , then got reduced to 169k and further reduced to 159k which is what it is at today. The house doesnt need any work, what would your starting offer be?
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Comments

  • westv
    westv Posts: 6,289 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Phone

    Valid reasons first
    Then offer.

    Without knowing any more about the house nobody can really tell you what offer would be good or bad but I've no doubt that some will do so anyway.
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    Don't waste time on reasons, they are not important at this stage. All that is relevant is the money. Either the offer is good enough or it isn't. Reasons will not make a difference.
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  • evoke
    evoke Posts: 1,286 Forumite
    Tenth Anniversary Combo Breaker
    Just phone the EA and offer your price. End of.
    Everyone is entitled to my opinion!
  • westv
    westv Posts: 6,289 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 6 March 2011 at 10:56AM
    Don't waste time on reasons, they are not important at this stage. All that is relevant is the money. Either the offer is good enough or it isn't. Reasons will not make a difference.

    So when else would you give your reasons? There's no point after the offer is accepted. Giving valid reasons for a low offer (if it is a low offer) will take hardly any extra time and might help to show that you aren't a time waster.
  • I would give my offer by phone, subject to survey and finances, if applicable state that your offer is to include curtains etc. I also asked for the property to be removed from the market and no further viewings allowed.

    You could reiterate to the agent that you're a first time buyer, mortgage agreed in principle, have your solicitor lined up and in a position to move forward quickly.

    Good luck!
  • evoke
    evoke Posts: 1,286 Forumite
    Tenth Anniversary Combo Breaker
    I would give my offer by phone, subject to survey and finances, if applicable state that your offer is to include curtains etc. I also asked for the property to be removed from the market and no further viewings allowed.

    You could reiterate to the agent that you're a first time buyer, mortgage agreed in principle, have your solicitor lined up and in a position to move forward quickly.

    Good luck!

    Sorry, I disagree with that approach. The offer being made is the beginning of a 4-6 month process, assuming it even gets accepted.

    Asking for things like curtains when making an offer is utterly nonsensical.

    You state your price and wait and see what happens.
    Everyone is entitled to my opinion!
  • westv
    westv Posts: 6,289 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Giving reasons for your offer is exactly what chickmug suggested in their useful post on the subject

    https://forums.moneysavingexpert.com/discussion/1907059=
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    westv wrote: »
    So when else would you give your reasons? There's no point after the offer is accepted. Giving valid reasons for a low offer (if it is a low offer) will take hardly any extra time and might help to show that you aren't a time waster.
    Let us draw a distinction here. Things like "I am a 1st time buyer" or "I am renting and on monthly rolling terms" etc are not reasons for the offer being what it is, so much as beneficial aspects of the offer. These should be conveyed.

    But reasons for the offer being how much it is? "the market is poor" or "Ooh your bathroom needs regrouting" add absolutely nothing to the offer, so it is pointless stating them before or after. To my mind, stating this sort of thing makes you look more of a timewaster. It is the kind of thing you save for if your offer is rejected and the Agent lists reasons why you should pay more.
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  • smcqis
    smcqis Posts: 862 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Intheresting conflicts of opinion. I would be of the intention of going in low as its been on for quite a while and vendor indicated to me he has rented house beside his business ready to move into. Does 130 seem too low to start?
  • westv
    westv Posts: 6,289 Forumite
    Part of the Furniture 1,000 Posts Name Dropper

    But reasons for the offer being how much it is? "the market is poor" or "Ooh your bathroom needs regrouting" add absolutely nothing to the offer, so it is pointless stating them before or after.

    I did say "valid reaons" in my first reply. :D
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