Making an offer

holidayinn

EA ime don't like bidding wars, means longer for them to get their commission i.e. if parties bid a week apart from one another, drags out the process. I've lost out because I was the second bidder in the past, so I would suggest if you really want it don't waste any time.

Alpha58

dgtazzman wrote: »

If I liked it, I'd offer asking price on the condition it is taken off the market there and then and the other viewings be cancelled.

IMHO this sounds a bit too much like desperation in the current (sluggish) climate and would suggest to me (if I were the vendor) that the property had been undervalued. As is the case with buying anything else, by all means show interest but you don't necessarily have to be too keen.

holidayinn

Alpha58 wrote: »

IMHO this sounds a bit too much like desperation in the current (sluggish) climate and would suggest to me (if I were the vendor) that the property had been undervalued. As is the case with buying anything else, by all means show interest but you don't necessarily have to be too keen.

Whether the market is sluggish or not depends on the area, I know that round my area houses/flats aren’t on the market for long at all….it’s becoming a case of ‘first dibs’ as quoted by EA’s.

dgtazzman

Don't forget the EA is only the vendor's representative, if the vendor tells them to stop viewings, they stop the viewings, no matter what they are telling you now.

I'd offer as soon as you are sure it's the property you want to prevent more people from viewing it. The more people that see it, the more potential you have for a bidding war to erupt.

If there is so much interest, best to get in fast, get the vendors swept up in the moment so they agree to your terms and close the deal.