House Offer?

DannyboyMidlands

In that case I'd go in much lower than 10% under asking price. Probably nearer to 20%.

Don't worry about upsetting anybody. You owe it to yourself to pay as little as possible. The vendor and EA's feelings are not worth a single extra penny of your hard earned money.

You've done your research, you feel it's overpriced compared to x, y and z. Stick to your guns.

TastyTeeth

Can I also specify the house is no longer marketed after any offer is accepted?

DannyboyMidlands

I've never asked that but guess that you can. They probably wouldn't want to do so until after your survey is done. Then they know you are serious about buying.

Just play it cool. Be prepared for the EA to suck his teeth and hint that the offer is way too low. It's all part of the charade.

arbrighton

TastyTeeth wrote: »

Can I also specify the house is no longer marketed after any offer is accepted?

You can ask, but it's up to the vendor. EA after all works for them

note_2

some great advice given on this thread

my view is that dont get attached to a property as you could lose it at any stage until you sign the contract......

base your offer on what similar properties have sold for, not the asking price. very obvious but if you may not necessarily be getting a bargain even if you knock 10% of asking price.

and remember, its a buyers market at the moment.

DRP

TastyTeeth wrote: »

Can I also specify the house is no longer marketed after any offer is accepted?

I think I would definitely insist on that, as you could easily be out of pocket to the tune of 4 or 500 quid if you arrange a survey and then someone else makes a higher offer.

It seems to be fairly standard in my area - EA takes house off market, if no survey has been arranged after a week or so then the threat to re-market the house is used to motivate the buyer to move more quickly!

pinky83

TastyTeeth wrote: »

Can I also specify the house is no longer marketed after any offer is accepted?

Definitely!!! That way nobody can come in and offer more than you. I would insist that the house was taken off of the market and nobody else was allowed to view. If the seller didn't agree to this then I would be suspicious that they weren't humoring me in the hope of a higher offer.

housesitter

TastyTeeth wrote: »

what's the etiquette when making an offer on a property through an estate agent?

How very British of you.
:rotfl:


In all your dealings with the EA assume at all times that they are lying to you.
EA's, recruiting agents, basically any middlemen - ditch them and deal directly with the party as soon as possible.
No more chinese whispers.

TastyTeeth

I'm putting the offer in first thing tomorrow, having had a second viewing last Saturday. I'm going in at 15% under the asking price with a final price in mind.

I'll keep you all posted on how I get on

EchoLocation

I've said it before and I'll say it again, you are not buying a house as a favour to the EA or Vendor.
The EA is NOT working for your best interests, they want to get as much money out of you as possible.

You offer what you're prepared to pay, do not be afraid to be firm and, if necessary, walk away.

Good luck.