Making my first ever offer

westv

smcqis wrote: »

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?

I'd suggest having a read of the first post in the thread link I posted.

DVardysShadow

westv wrote: »

Giving reasons for your offer is exactly what chickmug suggested in their useful post on the subject

https://forums.moneysavingexpert.com/discussion/1907059=

Relevant bits:

chickmug wrote: »

....
Next is to make the offer which means you need to put your case across as being a serious buyer with by covering the following points: -

1) That you have a MIP/AIP - if you haven’t get on the case.
2) If you have a bigger deposit than the minimum that will make you be seen as a better buyer.
3) Explain in some detail about any chain that you are in and is being formed. But it must be complete otherwise the agents would not consider offers.
4) Say that you have a solicitor appointed, who is waiting your instruction, once you make a decision to buy somewhere.
5) If you don’t intend having more than a basic valuation tell the agents as they will like that although you must make sure that is the right decision. You can always change your mind once the sale has been agreed! Agents do NOT like the repercussions after Homebuyer Reports & Structural Surveys
6) Say you are able to complete within the time frame to suit the seller.

....

Bear in mind some of my other thoughts from experience: -


3) Do not waffle when making the offer thus NOT giving away your hand.

I don't really count any of the above as 'reasons for the offer'. There is a need to be very clear on terminology. I would endorse chickmug's approach - which is to have reasons for your offer, to do your research and justify the offer to yourself. But your own reasoning is something you keep to yourself.

westv wrote: »

I did say "valid reasons" in my first reply.

I prefer to think of these as 'beneficial aspects of the offer'. To my mind they are very distinct from reasons for the offer value. This terminology does need to be cleared up, otherwise people will all too easily end up shooting themselves in the foot by misunderstanding the intent of the advice and bleating about the standard of the grouting.

westv

DVardysShadow wrote: »

Relevant bits:

I was more referring to this bit:-

"So the agents should be attentive as they will now know you are being deadly serious and then make the offer explaining thoroughly the homework you have carried out but do confirm by email to the agent

Marvel1

When I got mine house, I just phoned, asking price was £69K give my offer of £60K no reason, waited, wasn't accepted as they were holding out for £66K so I said I can only afford £65,500 (which was a small lie) and it was accepted.

MrsAmanda_2

Well, I've only bought once so am no expert, but can tell you what I did.

I was a first time buyer, with mortgage in principle and ready to move quickly if the vendors wanted to. I made my offer to the estate agent, by phone, for £3k (about 2.5%) under asking, saying that it would cost me that much to install central heating.

Apparently my offer, was apparently less than they had received from someone else. However, they chose mine because I was chain-free (they were stepping off the ladder to rent whilst they waited for the 'perfect' house to come onto the market) and because I visibly showed that I was very keen on their home when I viewed it.