highest final offer

pinky28

Just saw a house today which we love. An hour or so later estate agent phones to say someone's made an offer today (house has been on for months) which owner is happy to proceed with you have till monday offer to give your best offer or tough basically.

No idea what the offer made was or even if it was in region of asking price.

Although we love the place I dont know whether they are rushing us into making a bad decision. Given time we'd have liked to go away over weekend to think and arrange second viewing to check out things we thought may cause issues.
Obviously we havent got that now. We are first time buyers and currently live with parents.

Swaying between making an offer in the hope we are highest so we can see it again. But then obviously we might have to pull out if we discover things we didn't notice today or we could even not like it as much second time round!

Or walking away from a house we really liked and trying not to kick myself if I see it sold for way under asking price.

I know essentially its our decision but if you have any advice it would be much appreciated

ging84

make a sensible offer
don't expect to be able to out bid another buyer, then drop your offer without upsetting the vendor and probably being told to get lost

pinky28

ging84 wrote: »

make a sensible offer
don't expect to be able to out bid another buyer, then drop your offer without upsetting the vendor and probably being told to get lost

I think we would only drop the offer based on second viewing showing bigger issues or survey doing same to be honest

Im more concerned about being rushed into making an offer and regretting it - due to how rushed it all is

Road_Hog

Having been in sales for thirty years, I can offer some advice.


If you really want the property, then offer the full price, if you think it is worth it. Otherwise you will take a gamble and you may lose.


Don't try a cheeky gazunder offer before exchange, because you will most likely be told to go and do one.


I've just sold a property (I'm a LL) and I like a buyer who is honest and straight up front, but I've realised that there aren't many like that and I'll be a lot more hard nosed next time I sell or buy (as a LL).

anselld

pinky28 wrote: »

Just saw a house today which we love. An hour or so later estate agent phones to say someone's made an offer today (house has been on for months) which owner is happy to proceed with you have till monday offer to give your best offer or tough basically.

No idea what the offer made was or even if it was in region of asking price.

Although we love the place I dont know whether they are rushing us into making a bad decision. Given time we'd have liked to go away over weekend to think and arrange second viewing to check out things we thought may cause issues.
Obviously we havent got that now. We are first time buyers and currently live with parents.

Swaying between making an offer in the hope we are highest so we can see it again. But then obviously we might have to pull out if we discover things we didn't notice today or we could even not like it as much second time round!

Or walking away from a house we really liked and trying not to kick myself if I see it sold for way under asking price.

I know essentially its our decision but if you have any advice it would be much appreciated

There may be another offer, there may not.
If there is the vendor may or may not be happy with it.
Do not believe everything the agent tells you.

Do not be pressured into a rush decision by what is a fairly common sales tactic. (funny how another offer always seems to come on the day you show interest!).

There *might* be another offer and you might lose out but if you show interest in a second viewing and make what you consider a reasonable offer they will undoubtedly wait and consider it.

getmore4less

Ask for a second viewing and go over the place in detail.

Seems a bit too much of a coincidence if it has been on for months unless something changed on the marketing recently to drum up some viewings.

You could go round today and do a external view checking the area in detail to be sure that part is OK as well if not that familiar with the street/area.

If keen I would call today to try and make the appointment so you can pitch your offer at a level you are comfortable with.

ConfusedofYorkshire

I'd proceed as if you haven't been told that and ask for a second viewing on monday.

a sensible vendor who has had the property on the market for months isn't going to say you can't come round for a second viewing, even if they have an offer on the table (which i'm not convinced about).

of couse this may be risky if the agent is 100% genuine. in which case if you love it so much that you'll be distraugt to lose it then give your genuine highest offer.

pinky28

Thanks for the advice. Unfortunately the estate agents isnt open today - what is with estate agents not being work friendly? And as the house is empty we cant go for a look

Also I explained the situation about us wanting another look and it was pretty much a categorical no.

We have been looking online for months so this type of property NEVER comes up - which makes it even more difficult as the zoopla prices are all over the place.

I can see us getting to tonight and just flipping a coin.
I just think its unfair on the other interested party AND the owner if we go in there and say we want it. They couldve had several viewings and took everything into their considered offer then we go barging in there and make an offer based on just liking the place with no idea if anythings wrong with it.

I just wish I knew or could speak with the owner and just even say look we will come round on monday night with a measuring tape and we will know for definite by tuesday.

Paulaviki

Road_Hog wrote: »

Having been in sales for thirty years, I can offer some advice.


If you really want the property, then offer the full price, if you think it is worth it. Otherwise you will take a gamble and you may lose.


Don't try a cheeky gazunder offer before exchange, because you will most likely be told to go and do one.


I've just sold a property (I'm a LL) and I like a buyer who is honest and straight up front, but I've realised that there aren't many like that and I'll be a lot more hard nosed next time I sell or buy (as a LL).

Sorry to hijack the OP's thread but this post is really interesting. We are hoping to view a house today (these estate agents are open Sundays hurray!) and we are almost sure before seeing it that it's going to be the house we want.

My husband said if we do like it we should just go with the asking price (houses round here do seem to be selling in days for the asking price). I keep thinking it doesn't seem right to offer the asking price straight off, but like you say if we think it's worth it and don't want to lose it then it probably is the way to go!

QTPie

ConfusedofYorkshire wrote: »

I'd proceed as if you haven't been told that and ask for a second viewing on monday.

a sensible vendor who has had the property on the market for months isn't going to say you can't come round for a second viewing, even if they have an offer on the table (which i'm not convinced about).

of couse this may be risky if the agent is 100% genuine. in which case if you love it so much that you'll be distraugt to lose it then give your genuine highest offer.

Agreed - this is sensible (plus checking out the exterior, street and area as suggested by a PP), but - assuming the agent/seller will play ball with a second viewing - be ready to go/decide tomorrow.

Two offers out of the blue is not unheard of: we were on the market for 14 months (regular stream of viewings and one fallen through sale) when we had two viewings on consecutive days and a bidding war. (Sold to the family who only viewed once, but they did come back to view/"measure up" another 4/5 times before exchange!)

Depending on your area and budget, there are likely to be more fish in the sea, but depends on your local market.

QTPie

Having read that you cannot have another viewing.

Considering previous experience (selling and buying - we are now at the top of the property ladder), if you really want it (on first viewing), then bid what you are comfortable bidding (and no more).

Make your bid based on location, size etc. Assume that it is structurally ok, but assume that there will be cosmetic things (either leave money aside or decide if you can live with them for a while). So if you get the house, you will either stick with the price, renegotiate because of things from the survey/conveyancing or pull out altogether.

If you bid and win, then arrange a "measuring up" visit ASAP (and before spending money to purchase) to check that you are happy to proceed. That is what our buyers did to us: not nice, but that is what people do. I am afraid that buying house is a "business transaction" and not a "age of niceness" (this is what I have learnt, sadly). Also the seller is not allowing you to do the fair thing and have a second viewing. It does sound as though they have an asking price offer (or very close) already.

If you are seriously interested, I would say "bid": you can pull out if you decide it isn't worth it to you. If you don't bid now, then chances are you are out completely.