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Bidding on a house (other bidders) - help!!
Jazzyjeff_2
Posts: 267 Forumite
We have been looking for a house for over a year now and lets just say we haven't had much luck! We are FTB with 40% deposit.
We have found a property that we really like, it needs modernising and is sensibly priced to reflect this. There is no chain as the lady has gone into a home and the son has attorney (but 2 other relatives overseas). The problem is that although we were the first to see and offer (£450k, on at £455k) the vendor wanted to honour all booked viewings and no offer would prevent this.
Out of the 3 other viewings 1 has offered asking price (they have a chain but a FTB buying theirs so not a long chain) and 1 has a second viewing (not sure their exact position). Neither are likely to be in quite as strong a position as us.
The agent has advised that it's likely to go to final offers tomorrow.
Does anyone have any advice in terms of the process and what to offer?? I know offer what we would be happy to pay but this is not an easy thing to work out....!! House buying is very stressful!!!!
We have found a property that we really like, it needs modernising and is sensibly priced to reflect this. There is no chain as the lady has gone into a home and the son has attorney (but 2 other relatives overseas). The problem is that although we were the first to see and offer (£450k, on at £455k) the vendor wanted to honour all booked viewings and no offer would prevent this.
Out of the 3 other viewings 1 has offered asking price (they have a chain but a FTB buying theirs so not a long chain) and 1 has a second viewing (not sure their exact position). Neither are likely to be in quite as strong a position as us.
The agent has advised that it's likely to go to final offers tomorrow.
Does anyone have any advice in terms of the process and what to offer?? I know offer what we would be happy to pay but this is not an easy thing to work out....!! House buying is very stressful!!!!
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Comments
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We have been looking for a house for over a year now and lets just say we haven't had much luck! We are FTB with 40% deposit.
We have found a property that we really like, it needs modernising and is sensibly priced to reflect this. There is no chain as the lady has gone into a home and the son has attorney (but 2 other relatives overseas). The problem is that although we were the first to see and offer (£450k, on at £455k) the vendor wanted to honour all booked viewings and no offer would prevent this.
Out of the 3 other viewings 1 has offered asking price (they have a chain but a FTB buying theirs so not a long chain) and 1 has a second viewing (not sure their exact position). Neither are likely to be in quite as strong a position as us.
The agent has advised that it's likely to go to final offers tomorrow.
Does anyone have any advice in terms of the process and what to offer?? I know offer what we would be happy to pay but this is not an easy thing to work out....!! House buying is very stressful!!!!
I have never been through this process, so i can only imagine your anxiety.
However, our house recently went to best&final offers with 4 bidders.
Asking price 225 and the 4 bids were 225, 229, 232 & 235.
So the 'winner' bid about 4.4% over asking price.
Good luck with it!0
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