Love the house - stupid to offer full asking price?

Catblue

Go for another viewing of the flat first. You can always put your offer in at the end of that viewing if you like.

I know you said that it looks perfect, but it won't be. Nowhere is perfect. Ask about when the central heating was renewed, when windows were replaced, when the roof of the block was last done, what the neighbours are like, check the parking situation.

Try to view the flat with your head this time (take a friend along for a second opinion?) and if you still like it after that you can put your offer in.

KateLiana27

The_Deep wrote: »

If you offer 5% under and someone offers full asking price, and you are equally viable you may lose it. Offering low is always a gamble i.m.o.

This is true.

We offered just a tiny bit below asking on the house we are buying, as it was extremely well priced and we wanted to secure it, on condition that it was removed from the market immediately. The vendor agreed. Someone else had offered 10% below and on hearing of our offer, called up and offered full asking price. The vendor honoured our agreement and refused to sell to them. They were not happy.

I'm not saying this is what you should do, as I don't know what the house in question is worth. But I'm just pointing out that offering low is not a risk free strategy with a well-priced and in-demand house, and shouldn't be seen as such.

geoffky

This is a moneysaving website but reading some of the posts you would think it was blow your dosh for no reason.com

Amanita_2

If you really want it then I wouldn't mess around. We offered full asking price on the house we wanted a few years ago as we knew there would be a lot of interest in it.

In fact there were 8 full price offers made on it over the weekend it went on the market. We "won" because we were in a good position with a very short mortgage free chain behind us and the vendor knew his neighbours would like us!

paulsad

Remember Richard Whiteley (Countdown was it? RIP) on that buying a home (ok holiday home) abroad TV thingy once. Him and his mrs were so smug putting in a low offer on their "ideal" villa they were in love with, "perfection etc." . . . They lost out to someone paying the asking price straight off - well it made me chuckle - overpaid tv "stars" and all that.

kmmr

I think there is a time and a place to pay full price. I paid just under full price for my place, right in the doldrums on 2009, but I did it because I knew it was well priced. I had looked at about 50 other places over the previous 6 months and as soon as I saw this place I realised it was excellent value and was worth the money.

Plus it had been on the market for 1 day, so if I wanted it I knew I had to pay close to full price. I offered 315 on a 329,950 place, and then offered 325 when they came back to me the next day. There was someone else interested who then offered the full price (sight unseen as he could see the value too) but the vendors stuck with me. To be honest I was happy to go quite a bit higher if they wanted a fight.

I also then found some damp, but accepted this cost (about £3k) to make sure the deal went through.

So, if you have done your research, are sure it's a good price for the right place, then it can still be a 'bargain' at full price.

geoffky

Amanita wrote: »

If you really want it then I wouldn't mess around. We offered full asking price on the house we wanted a few years ago as we knew there would be a lot of interest in it.

In fact there were 8 full price offers made on it over the weekend it went on the market. We "won" because we were in a good position with a very short mortgage free chain behind us and the vendor knew his neighbours would like us!

This sounds like the crap you get in living home magazine..PS you do not win a house you purchase it.. and a few years ago is worlds away from the state of the market today..

kmmr

geoffky wrote: »

This sounds like the crap you get in living home magazine..PS you do not win a house you purchase it.. and a few years ago is worlds away from the state of the market today..

So Geoff - is there never a time when something is just the right price? If you ALWAYS have to pay 10% less, then this just pushes up the asking prices.

devotee

By all means offer 10% off or more (as advised by Geoffky), but be prepared that you might not get it for that price or lose the property completely. If you don't mind that then fine, but if you would be absolutely gutted at that prospect as you've been searching for a long time, then just offer the full asking price and make sure it's yours.
And yes you'd be saving money (and time) by not looking at properties anymore!

tyllwyd

calliopeviolet wrote: »

... What do people think about this not showing up on Zoopla or Nethouseprices? Is that weird?

Does the flat itself show up on the websites, but with no previous sale information? That's not unusual, they've only got data going back a certain number of years, so it just means that it hasn't sold recently.

For what it's worth, I agree with the posters saying make the offer you think the property is worth, don't get hung up on negotiating a certain percentage under the asking price.