First time offer on a house.. advice appreciated..

bylromarha

Got an offer accepted yesterday - don't believe the EA is always against you.

House up for £230k. Bought Aug 2009 £225k. No improvements done in those 4 years.

We did our research and decided £220k was our max. We're renting, so ready to go. Had another house were going to offer on if this house wasn't accepted and told the EA this. Had a long friendly chat with EA as part of the offer.

EA asked when I put my offer of £217,500 forward if there was any room to negotiate in that - I said there wasn't much. EA got buyers to accept that offer. He knew he could have got more from us, but didn't. I accept its quite rare, but I think the combination of the friendly chat, the pressure of another house we're offering on and the fact our offer was reasonable and researched meant he got what he could rather than try to encourage the vendor to risk us maybe upping our offer.

united4eva

bylromarha wrote: »

Got an offer accepted yesterday - don't believe the EA is always against you.

House up for £230k. Bought Aug 2009 £225k. No improvements done in those 4 years.

We did our research and decided £220k was our max. We're renting, so ready to go. Had another house were going to offer on if this house wasn't accepted and told the EA this. Had a long friendly chat with EA as part of the offer.

EA asked when I put my offer of £217,500 forward if there was any room to negotiate in that - I said there wasn't much. EA got buyers to accept that offer. He knew he could have got more from us, but didn't. I accept its quite rare, but I think the combination of the friendly chat, the pressure of another house we're offering on and the fact our offer was reasonable and researched meant he got what he could rather than try to encourage the vendor to risk us maybe upping our offer.

Well done mate, and congrats on getting a good deal What area was this in?

bylromarha

united4eva wrote: »

Well done mate, and congrats on getting a good deal What area was this in?

South East - houses are coming onto Rightmove SSTC here and the fact that I had used Property Bee to say to the EA things like "It's been with agent A since April with no price reductions, you've had it since September"

Think the agent just wants shot of it, and the vendors, to be honest and encouraged the vendors to take our offer rather than try to earn himself a couple quid extra on the sale. EA told me there'd been no offers at all since they'd had it, the buyers were not letting some of the viewers through the door so they had to accompany all viewings to ensure viewers could view. EA never came with us, but the owners let us straight in and were as lovely as pie. Accomodated mans 20 mins ramblings about the garden. Think they liked us.

Plus particulars of both agents didn't do the house justice at all - you really had to go in to see what sort of place it was.

All worked to our advantage.:D:D:D

united4eva

bylromarha wrote: »

South East - houses are coming onto Rightmove SSTC here and the fact that I had used Property Bee to say to the EA things like "It's been with agent A since April with no price reductions, you've had it since September"

Think the agent just wants shot of it, and the vendors, to be honest and encouraged the vendors to take our offer rather than try to earn himself a couple quid extra on the sale. EA told me there'd been no offers at all since they'd had it, the buyers were not letting some of the viewers through the door so they had to accompany all viewings to ensure viewers could view. EA never came with us, but the owners let us straight in and were as lovely as pie. Accomodated mans 20 mins ramblings about the garden. Think they liked us.

Plus particulars of both agents didn't do the house justice at all - you really had to go in to see what sort of place it was.

All worked to our advantage.:D:D:D

Sounds like it all came together for you, happy for you mate! :j Wish me luck.

System

our house in days away from completion the EA put it up for £10k more than we wanted , we were looking to get £105k it was put up for £115k we accepted and offer for £108k ,so we got 33k more than we were expecting and buyer thinks he got a deal.

bylromarha

united4eva wrote: »

Sounds like it all came together for you, happy for you mate! :j Wish me luck.

Good luck

united4eva

Planning to make the offer, is it OK and reasonable to state that the property should be taken off the market while under offer? Even if the offer is lower than asking..

And additionally what is a reasonable deadline to give before coming back with an acceptance/rejection?

bylromarha

It's only reasonable to ask them to take it off the market if they accept your offer.

I wouldn't offer and give a deadline. I would say there was another property you're very interested in, so if you could have a decision as soon as possible, you'd be grateful.

united4eva

bylromarha wrote: »

It's only reasonable to ask them to take it off the market if they accept your offer.

I wouldn't offer and give a deadline. I would say there was another property you're very interested in, so if you could have a decision as soon as possible, you'd be grateful.

When I have rang up for viewings on occasions I have been told I can't get a viewing because the property is under offer, what is the normal done thing when the property is under offer?

I ask as the EA mentioned they were expecting more viewings this week.

bylromarha

united4eva wrote: »

When I have rang up for viewings on occasions I have been told I can't get a viewing because the property is under offer, what is the normal done thing when the property is under offer?

I ask as the EA mentioned they were expecting more viewings this week.

Expecting or booked viewings?

If you offer, and they have more viewings arranged, what they'll probably do is allow the viewings already arranged to go ahead whilst telling the viewers that there is a very good offer on the table already, so if they'd like to offer they need to do it quickly.

The EA wants a bidding war, so will probably encourage the vendor to hold out for the other viewings if your offer if it isn't asking price. you can make it a condition of the offer that they cancel the other viewings but if the vendor I like your offer, but the other viewings are going ahead, what will you do?

But if they're expecting more viewings, then put your offer in and ask for a 24 hour response as there are other things you're keen to see if this vendor doesn't accept.