offering less than "offers in region of"

ejmolly

Well after a few weeks of thinking it over finally put an offer in at £365000! Fully expecting it to be declined but gets the conversation started.

My solicitor spoke to the estate agent who said they had thought about taking £5K off the price and absolute minimum they would accept is £390! We willing to go up to £375. Think they need a reality check, been on since June last year and we are the first to put an offer in. hideous decor that would cost a bit to do. - Artex, ceiling tiles, 80s bathrooms etc. We are in a great position with no chain and willing to be flexible on dates.

Need to think of next move as sure first offer be rejected. Is it best to keep going in with increased offers or out in a final and bet offer?

googler

ejmolly wrote: »

My solicitor spoke to the estate agent who said they had thought about taking £5K off the price and absolute minimum they would accept is £390! We willing to go up to £375.

Is it best to keep going in with increased offers or out in a final and bet offer?

Cut to the chase, and if you're willing to to to £375k, tell your solicitor to offer that as your best and final offer, and if that's not accepted, you're walking away.

And make sure you do walk away if you say that, and your offer isn't accepted....

ChasingButterflies

ejmolly wrote: »

. We are in a great position with no chain and willing to be flexible on dates.

Need to think of next move as sure first offer be rejected. Is it best to keep going in with increased offers or out in a final and bet offer?

We were in a similar position this time last year, having sold and moved into rented.

House we liked had a HR of 575k, had been on the market for 6 months and also needed lots of work. Initially on at O/O 550k then reduced in March 2012 to O/O 475k. We thought it was over-priced and felt 450k was around the right area but getting it for less would have been better. 1st offer was 430k - rejected after 2 days. A month later we offered 440k rejected straight away, we then upped to 450k which was accepted. Refreshed HR (8 months after 1st) valued at 500k.

Good luck

Fizzymartini

Googler, you are a font of knowledge on property matters.

Agree heartily - I was advised to keep stepping up but really there's no point, if you have a ceiling and know it's overpriced. The key is recognising its worth and refusing to pay extra, as you'll only lose out in the long run when it comes to selling it on.

Like Googler said, just offer your best and final, then walk. Something else will come along. I hope!!