Offers in excess of

ncrawley

Bluemeanie wrote: »

I wouldn't worry about the others in the chain, like you say you have to look after number 1. And it is not like you did it on purpose. And definitely better to suck up £500 than thousands!

Exactly, but I'm still going to feel really bad as it took a while to get to this stage but it obviously wasn't meant to be!

lou-28_2

We advertised our maisonette for offers over £135. We were only offered £131k. We were naively (sp?) a bit surprised and gutted with the offer so we decined at first but then changed our minds.

Even though they say offers over they shouldn't be surprised to get offers under so I would go for a lower offer.

ncrawley

lou-28 wrote: »

We advertised our maisonette for offers over £135. We were only offered £131k. We were naively (sp?) a bit surprised and gutted with the offer so we decined at first but then changed our minds.

Even though they say offers over they shouldn't be surprised to get offers under so I would go for a lower offer.

That's the only reason I thought it would be unsporting to offer lower upsetting the owner, but as many people say its a buyers market and it depends how much they want to sell the property, considering its time on the market :beer:

However I am not sure if offering £100k (over 12k less) to start with is really taking the biscuit, I would have no qualms offering this if it didn't state 'offers in excess of, although 2 people agree on this as an opening figure so who knows!

Bluemeanie_2

You could start at £102k? Just over 10% less and psychologically sounds a lot more than £100k? The way I see it most never accept first offer, regardless of what it is. (I think it is due to peopel liking to think they get a bargain, so stuff is overpriced in the first place), so to haggle well you have to start low!

ncrawley

Bluemeanie wrote: »

You could start at £102k? Just over 10% less and psychologically sounds a lot more than £100k? The way I see it most never accept first offer, regardless of what it is. (I think it is due to peopel liking to think they get a bargain, so stuff is overpriced in the first place), so to haggle well you have to start low!

Yes, it does look a better figure even though its not that much more, I also have seen it said that adding random numbers makes it look better also like offering £102,450 or something like that, the human mind works in mysterious ways

bluedrop

I managed to get 10k off a "offers over" price....

I started 25k lower.

SG27

We viewed a house last year that was offers in excess of £210,000 we really liked it but thought that the price was a bit too steep. It sold a few months later and the sold price was £190,000! Which we would have happily offered if we thought they would have accepted it! Also the agent told us that they refused an offer of £205,000 which put us off even more.

From now on I just treat offers in excess as normal asking prices.

billybear1

SG27 wrote: »

We viewed a house last year that was offers in excess of £210,000 we really liked it but thought that the price was a bit too steep. It sold a few months later and the sold price was £190,000! Which we would have happily offered if we thought they would have accepted it! Also the agent told us that they refused an offer of £205,000 which put us off even more.

From now on I just treat offers in excess as normal asking prices.

Typical EA from the sounds of it.

Going back to the survey house, if they are in a chain, they really REALLY want to sell and not loose you! Lower your offer by 1.5X the repair costs an get your dream home! Then do the repairs!

Beckyy

You've not nothing to lose from making an offer - most people are at the moment.

ncrawley

billybear1 wrote: »

Typical EA from the sounds of it.

Going back to the survey house, if they are in a chain, they really REALLY want to sell and not loose you! Lower your offer by 1.5X the repair costs an get your dream home! Then do the repairs!

But just lowering the purchase price by a bit doesn't get you that much money back, you are only saving a few hundred quid on a deposit - the repair costs look like they could be in there thousands, and to be honest it isn't just about the cost, we really don't want a house that needs major works doing to it!

The electrics need re-doing, there was signs of damp in all ground floors found (which is being investigated), a number of windows don't have lintels, air bricks need to be installed, 2 windows seals have broke and may need replacing, there are signs of hollow plaster throughout which may need re plastering, an en suite was built into the main bedroom and no planning permission was sought and there is no ventilation system in place, the guttering needs totally cleaning out and maybe replacing, there is inadequate insulation in the loft, the drainage system needs a clean out and 2 drainage covers on the property are far too rusty and need replacing, there is signed of small movement of the floor in the lounge, there is a hairline fracture at the back that needs repointing and the list goes on.. we expected some problems as its a n older house, but not to that extent

It's just too much for us (even if I did have the money)