1st Offer refused. How much to increase?

kelvinwebb

Hi

Put in an offer of £190 on a property that is on the market for £215 and it was refused (naturally).

The property has only been on the market for 2 days and it seems that properties are selling very quickly down here in Southampton.

What should i put in next?

The EA said that the vendors want to acheive the asking price and as it has only just come on the market tey are prepared to wait.

Should I put in an offer of £2000 more or £5000 more...????

Cheers

gwapenut

kelvinwebb wrote: »

Hi

Put in an offer of £190 on a property that is on the market for £215 and it was refused (naturally).

The property has only been on the market for 2 days and it seems that properties are selling very quickly down here in Southampton.

What should i put in next?

The EA said that the vendors want to acheive the asking price and as it has only just come on the market tey are prepared to wait.

Should I put in an offer of £2000 more or £5000 more...????

Cheers

As it's only been on the market for a couple of days I wouldn't for a minute imagine they'd take less than £200k, and I suspect £205k would be the baseline for at least another week or so.

But you can always increase a low offer, you can't so easily reduce a high offer

nick78447

You'd be better going with 10 grand more. Two is just gonna annoy them by the sounds of things.

Jonbvn

There is no easy answer to your question - it al depends on you. Answer yourself some questions:

1. Do you really want the property?
2. Can you afford it at what price?
3. If you wait, will the property sell easily at the current asking price (what is local housing market like?)
......

Doozergirl

They've been on the market for two days and you offered £190,000? I'm not surprised they turned you down! If you want a house at a cheaper price, you have to be prepared to wait until their confidence is knocked by being on the market for a while.

If you get the house for under £205,000 I will eat my shoe.

benood

I agree with Doozergirl - if you want a bargain best leave this place for a couple or three weeks now and get excited about other options - then return to a demoralised seller and offer £185 expecting to settle for around £200.

Of course with this approach you may find the place has sold in the meantime but at least you won't have overpaid.

kelvinwebb

Damn! I hate it when other people tell me what I didn't want to hear!:mad:

I just wanted to hear you say "No, go for it... They should accept your offer gladly and are fools if they don't". But I already knew that wasn't the case...

Houses sell like HOT CAKES down here and we lost one on the same day we viewed to someone who had viewed it previously that morning. Blast!

OK i'm gonna back in at £200k, hoping to get it still for £204,950 (I've never seen someone eat a shoe before

Wish me luck.

nelly_2

"No, go for it... They should accept your offer gladly and are fools if they don't".

Hows that then

kelvinwebb

Double damn!!

EA just said that they only are interested in full asking price.

I didn't even get the chance to put in my £200k offer. Don't think the EA is taking me seriously because of my first bid now...

Doozergirl

Next offer is £205,000 then. Depending on how much you want to pay, I still think you can secure it for less. Everyone is open to offers.

Push your position if you are SSTC or FTB. Don't even bother offering again if you aren't!

kelvinwebb

I went back in yesterday at £205k hoping this would entice them but the call just came back from the EA saying that they are prepared to wait

It sounds like the EA has tried to get them to take the offer.

She is now saying that she thinks they will accept £213k or £212k.

It's a nice house with a great garden but I really begrudge only getting £2k or £3k off the asking price...