How much shall I offer??

danm

kingkano wrote: »

Im not sure why people are so blase soemtimes. No offence to you, but maybe they cant get that on a mortgage and hence it means they actually need the 2k, not £10pm

I wasn't trying to be blase. My point was that if you can't afford/get the extra 2K, then you should really be thinking about whether you can afford the original amount in the first place.

my advise would not be to buy somwhere that at the total limit totally maxes you income multiples because as a previuos poster pointed out, there are many unforseen eventualities

back2square1

Hi EA has just phoned me and asked whether we had given much consideration to the 207k required by Seller. I told EA we are still having to assess our financial situation to see whether we can stretch to this extra £2000.

This is only a negotiation tactic I am using BUT how long for before I have to increase I am unsure of.

I asked EA is there are anymore viewings on this property and she said there is one this afternoon, and the viewer has sold their property and are ready to go. My concerns are whether or not they put in an offer above mine at 205k therefore shall I phone now offer the £207K which I am sure will be accepted. I believe that I am still a stronger candidate than the person who shall be viewing this afternoon because they shall lengthen the chain whereas I will not as I am FTB.

What do you think I should do? Sit tight or increase to £205500 or go straight in with £207000???

Doozergirl

£206k and they can keep their f&fs, LOL!

I'd try and get it tied up today if you can By having an offer on the table you are likely to create a bit of competition.

back2square1

Doozergirl you have given me very helpful advice throughout my negotiations with EA this week. Firstly in response to £551 a month yes that is the minimum we will have leftover after every single outgoing (incl hols, birthday, Xmas, children school trips etc etc).

I shall now try the £206k without F&F.

Thanks ever so much for all your help!!!

Doozergirl

Good Luck

I think you're negotiating really well, not panicking and throwing in offers straight away. It does unhinge the vendor slightly as they have lots of time to think about your offer and they start to worry and adjust their expectations slightly.

Even I have taken a slightly lower offer than I would have done because the buyer was an EA and good at negotiating! It took nearly a week of batting back and forth. I got them in the end as I accepted their offer but used the F&Fs as an extra bargaining tool and got another £2k. (mwahahahaha!)

back2square1

Hi Doozergirl, thanks for the compliment but I could only have done it with your brilliant advice.

I have tried another tactic, my boyfriend has rang EA and asked if 205k been totally refused because it was put back on the table again this morning, apparently it has not been refused or accepted. Fingers crossed I might just get it accepted!!!! However I do have to bear in mind they have got a viewing this afternoon.

The vendor is going away on holiday tomorrow for the next week, even though they are contactable by mobile phone to discuss offers with their EA I am wondering whether they may wish to close this deal this afternoon so they haven't got the worry whilst they're away and can relax on their holiday. Plus like I have said before they desperately want to move mid May so the longer they leave it the less likely they shall move on their preferred time schedule.

Sorry to keep making entries about this house negotation but I am sat here at home thinking and thinking and thinking about it and it is unbelievably difficult to sit and wait therefore I have to keep reassurring myself by way of this chat forum that I am doing the right thing.

Everyone's advice has been imperative in the offers I have so far put to the table and I am incredibly grateful to you all!!! :T

Doozergirl

I like reading about people's escapades, it's exciting and it stops me from buying more houses!

Good job you haven't put in another offer! I didn't realsie they hadn't actually turned it down! They might want to see how the viewing goes this afternoon before making a proper decision. If they haven't come back with a decision then I'm sure they will be struggling over whether to accept. I am sure you can seal it for less than the £207k they've asked for as long as no one else enters the equation!

back2square1

Boyfriend has just received call back from EA the 205k refused (at moment!!!). I've told my boyfriend lets play the tactic of telling EA that when we discussed our offer on this property last night he said he thinks we should go to £206k whereas I was adamant we couldn't and wanted to stick at £205k.

He has just done this and the EA spoke to vendor again, their reply was they really want to get NEARER to £207k (looks like there maybe some flexibility afterall).

So my boyfriend is now going to ring EA place offer for £206k and tell the EA that I do not know anything about the £206k offer and he's going to try his hardest to sweet talk me tonight when he returns from work. Hopefully this will be relayed to the vendor and they will hopefully take it as their final chance to close sale with ourselves.

This is getting very nailbiting stuff now!!!!

kittykirsty

Just read your thread, don't have any advice to offer myself, but just wanted to say good luck! Hope you get it!

hearts

danm wrote: »

Hi B2S1.

The way i would look at this, its that if you can get the property off the market for £207K, and can afford £205 , then you can afford the 207. Works out at somewhere around £10 p/m i would imagine.

The question is, can you afford the £205 in the first place.

Contrary to the other poster I agree with you. On such a large mortgage the 2k is negligable. If you want it offer the 207 and its yours. Whats the point of worrying about 2k and losing your home of choice.