Shall I increase my offer?

buckfast67uk

I personally don't think it wasting folks time the estate agents think its realistic and we've had more viewings in a week than friends who're trying to sell in the northeast have had in eighteen months. If it were priced incorrectly no-one would view especially as the estate agents are very clear with the viewers of our situation.

As to putting up with viewings i think its great, our house has never looked any cleaner or tidier!

charltonkeston

doire wrote: »

There's your answer





So you just waste peoples time then?

I did a very simular thing. If you need £X pounds from the sale of your home to move to the house you love and the prospective buyers only offer £Y there is no point in entering into a dutch auction with your home.

There was nothing wrong with the house I owned but I was mortgage free and have another 20 years of work ahead of me. It just seemed like a good idea to move to a bigger house, a new goal in life I suppose.

We held out for the price we wanted and got it after a few months.

SilverSix

Leave it on the table. I'd only consider upping it if other people begin to view and make offers.

If you don't think it's worth that then don't pay it as you obviously won't be truly happy in doing so.

If they come back to you and want to meet you in middle stand your ground unless they're prepared to have the bathroom refurbed for you.

Whatever you do don't 'gazunder' them. We had this done to us on my fathers house we were selling and it really won't put you on good terms with the vendors.

kford224

My OH and I have just had an offer accepted on our first house.

It was marketed at £185k and we always said we would probably pay up to £177k because we really liked it. Also, we 'shortlisted' four houses in the area before going on a two week holiday and by the time we got back ALL of them had sold (it's a very popular area). One of them was 'the perfect house' at the time, but we would never gazump people, so let that one go.

Our initial offers on this house of £170 and £173,500 were refused, although I think if we had hung on and they had no other offers, we probably would have got it for £173,500. However, it had only been on the market a week and we were willing to pay the extra money in order to secure it, rather than get in a bidding war and as the area is so popular, we were certain it wouldn't take long for someone else to snap it up for more than we were willing to stretch to.

So, I would suggest holding and only paying what you want to pay or think it is worth. Don't go paying more if you are going to regret it later!

Racky_Roo

Thanks for all the responses. I think I already thought I should hang on - it's just really hard as i'm not a very patient person!!

Doozergirl - I would buy a house, but there aren't any nice ones on at the mo, TBH, there's not much coming on the market at the moment in my preferred area. I've lived in a house and fancy a change. This one had sea views and really well proportioned rooms.

SilverSix

kford224 wrote: »

but we would never gazump people

Gazundering is a bit different to gazzumping.

Gazundering is dropping your offer shortley before completion. We had initially agreed a 5% reduction to then be told shortly before contracts were due to be signed that they wanted a further £10,000 off and another survey done. We met them in the middle in the end as everybody involved needed the house sold and capital/inheritance from the house released.

However if I am ever in the position whereby someone tries to gazunder me, providing it suits me, I'd be rejecting their initial offer and waiting for a buyer who isn't trying to stiff me.

kford224

BennyC wrote: »

Gazundering is a bit different to gazzumping.

Gazundering is dropping your offer shortley before completion. We had initially agreed a 5% reduction to then be told shortly before contracts were due to be signed that they wanted a further £10,000 off and another survey done. We met them in the middle in the end as everybody involved needed the house sold and capital/inheritance from the house released.

However if I am ever in the position whereby someone tries to gazunder me, providing it suits me, I'd be rejecting their initial offer and waiting for a buyer who isn't trying to stiff me.

Oh yes I see what you mean, I was just saying that although we missed out on a property we loved, we wouldn't dream of contacting the seller with a higher offer in order to outbid the current buyers. Don't think I could live with myself!!

kingstreet

Racky_Roo wrote: »

I am prepared to go to £157,500 but am unsure as to whether I should hang on until the vendors have found somewhere as at the mo they have no incentive to take an offer lower than they want or go in with a full and final offer and leave it on the table

Tough one this. I'm telling my clients not to go out looking for a property until they have an acceptable offer on theirs, and you're hanging back not making your final offer until they find somewhere...

This dance could go on and on.