We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Help with putting in offer for first time.
firsttimebuyer21
Posts: 1 Newbie
Myself and my boyfriend put in an offer on friday of £110k on a property which is offers over £115k.
It needs rewiring, new kitchen and new bathroom so we have to keep money aside for all of that hence why we offered £110k.
However, we can afford to up it by a few thousand if need be.
Its been on the market for a while now and both occassions we have went to view it, there have been several people there at the same time to see it.
We were called today by our lawyer to advise that they have now put a closing date on it for tomorrow at 12pm so we have increased our offer to £114k.
This will be our final offer.
I cant help but think that this is a bit of a coincidence that it had no offers for months and now that we have put in an offer, there is now a closing date?
I have been told by a few people that this is common for estate agents use this tactic to get people to up their offer knowing full well that there is no one else interested, has anyone heard of this or experienced it?
It needs rewiring, new kitchen and new bathroom so we have to keep money aside for all of that hence why we offered £110k.
However, we can afford to up it by a few thousand if need be.
Its been on the market for a while now and both occassions we have went to view it, there have been several people there at the same time to see it.
We were called today by our lawyer to advise that they have now put a closing date on it for tomorrow at 12pm so we have increased our offer to £114k.
This will be our final offer.
I cant help but think that this is a bit of a coincidence that it had no offers for months and now that we have put in an offer, there is now a closing date?
I have been told by a few people that this is common for estate agents use this tactic to get people to up their offer knowing full well that there is no one else interested, has anyone heard of this or experienced it?
0
Comments
-
With only the limited info you've given us I would say you offered ten grand too much in the first place and then caved in at the first opportunity.
However, the important thing is are YOU happy with £114k?0 -
Is it a repossesion? Just wondered with the block viewings and the closing date.
Unless you absolutely love the house I would stick with what you have put and don't increase. If its not a tactic the highest bidder will win the prize. If it is you are probably bidding against yourself. If it is genuine and you don't end up being the highest bidder it is a sign that it wasn't the right house for you.
Keep us updated!0 -
It may be ghost bids...but you have offered more than i ever would..It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
i would have tried 107k as a opening bid.0
-
Is this a sealed bid?
How do you know it had no offers?
I went through the same sort of thing, they usually price it at a very inviting price, which draws lots and lots of interest.
The house i made an offer on was offers over 250k, I had to book a day due to interest and when i viewed it i was in a group of around 10 viewers, it ended up selling for over 300k!.
Usually there is a closing date and thats when they start to look at the offers.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards