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help me pls!!!!!!what to do

navarato
navarato Posts: 65 Forumite
in House buying, renting & selling
Hi all

I submitted an offer of £220k for a flat i want to buy on Saturday. Spoke to agent today and he says there is another 'buyer' who's offered £223k and am i willing to increase my offer?

Now i know he is trying to squeeze more money out of me :mad: but at the same time this is a property in a good area of London and i have been simply looking for ages! My budget was up to £230k (i have not let this on to the agent).

Because i do really want this flat, i am thinking of going up to £223,500k and saying that this is my last offer. Any thoughts? Any help would be appreciated. Thanks in advance
«13

Comments

  • BitterAndTwisted
    BitterAndTwisted Posts: 22,492 Forumite
    10,000 Posts Combo Breaker
    How good are you at poker?
  • I_have_spoken
    I_have_spoken Posts: 5,051 Forumite
    Prices are going to the moon in London, it'll be worth £235k by Xmas. Get in!

    IMHO, obviously
  • navarato
    navarato Posts: 65 Forumite
    ooh i forgot to mention that it was actually marketed at £225k
  • benson1980
    benson1980 Posts: 850 Forumite
    Part of the Furniture 500 Posts Name Dropper
    I'd increase- presumably the EA just wants to sell the house, whether it be for 220k or 225k I can't imagine they care that much as it will be a tiny amount extra in commission. If it were me I'd go asking price for the sake of 1.5k extra, if you think its worth 225k.
  • navarato
    navarato Posts: 65 Forumite
    i think i am going to do £223,500k and then take it from there
  • navarato
    navarato Posts: 65 Forumite
    should i follow this with a 'this is my last and final offer' to prevent ea from playing any more games? thanks
  • Tancred
    Tancred Posts: 1,424 Forumite
    navarato wrote: »
    Hi all

    I submitted an offer of £220k for a flat i want to buy on Saturday. Spoke to agent today and he says there is another 'buyer' who's offered £223k and am i willing to increase my offer?

    Now i know he is trying to squeeze more money out of me :mad: but at the same time this is a property in a good area of London and i have been simply looking for ages! My budget was up to £230k (i have not let this on to the agent).

    Because i do really want this flat, i am thinking of going up to £223,500k and saying that this is my last offer. Any thoughts? Any help would be appreciated. Thanks in advance

    It all depends on how badly you want the flat.
  • Tancred
    Tancred Posts: 1,424 Forumite
    navarato wrote: »
    should i follow this with a 'this is my last and final offer' to prevent ea from playing any more games? thanks

    How do you know he is playing games? If there is another potential buyer then you're competing against him.
  • Tancred
    Tancred Posts: 1,424 Forumite
    navarato wrote: »
    ooh i forgot to mention that it was actually marketed at £225k

    Then why don't you just offer £225k and stop pi**ing about?

    For G_d's sake!!
  • benson1980
    benson1980 Posts: 850 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Why would the EA be playing games- as said what do you think they have to gain? An extra fifteen quid or so commission for an extra 1.5k sale? They are obliged to get the best price for the vendor rather than themselves. I'd listen to the advice on here and offer asking price. Trying to trump another buyer by offering £500 more- bit pointless
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