Being asked for ''best and final offer''

inmypocketnottheirs

There are a lot of vendors that do not realise how much their property has declined in value. They may well be surprised that when the mortgage ablution is carried out that the property is further down valued based on what has sod in the area.

bunnydrumming

As others have said decide what you are really prepared to pay and stick with that. Will you be gutted if you don't get this house or are there others that you also like. How long has the house been on the market and how does it stack up against other houses in the immediate locality. Look at sites that show how much houses have sold for in the past few years and use this price when you next speak to the EA so they know you are a knowledgeable buyer and not a push over!

I would tell the EA that you don't want to get into a bidding war especially when you are already the highest offer and that you are also looking seriously at other properties but this is your preferred one at this price. Ask them to make sure the seller is aware you are not in a chain and can exchange and complete in the quickest time frame. This is worth a lot in this day and age - the house i am exchanging on had three offers fall through when chains collapsed and the sellers took my lower offer as the higher offer was from people in a chain and they did not want to risk another collapse

Sellers are really out for as much as they can get and maybe they are hoping that viewings will increase with the good weather!