highest final offer

the_blacksmith

Paulaviki wrote: »

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!

If you like it & want it, go for it today, Houses are selling quick & few available in some area's. We offered full asking price after a quick 10 min view, this was only a few weeks ago.. If we hadn't we would have lost the property as 3 other full asking price offers came in the same day & someone even offered £4000 more ! vendor thankfully kept us & refused the higher offer as we had shook on it. bless him. Good luck.

getmore4less

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.

pinky28 wrote: »

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.

.

If this has been on for months why have you just found it?

Paulaviki

the_blacksmith wrote: »

If you like it & want it, go for it today, Houses are selling quick & few available in some area's. We offered full asking price after a quick 10 min view, this was only a few weeks ago.. If we hadn't we would have lost the property as 3 other full asking price offers came in the same day & someone even offered £4000 more ! vendor thankfully kept us & refused the higher offer as we had shook on it. bless him. Good luck.

Would help if we could get a slot to view it. Owners are doing the viewings and only doing 2 today and 2 tomorrow. So chances are it will sell before we even get a chance to see it.:mad:

I really hope people start selling soon, being a FTB in our area is a nightmare at the moment!:(

Paulaviki

Spoke too soon, we've managed to get a viewing tomorrow! Fingers crossed!

Mojisola

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.

Paulaviki wrote: »

Spoke too soon, we've managed to get a viewing tomorrow! Fingers crossed!

I wouldn't believe the EA. No buyers for months and then suddenly two on the same day?

If the seller has had an offer, they should do the decent thing and accept it or refuse it.

houseimprover

Mojisola wrote: »

I wouldn't believe the EA. No buyers for months and then suddenly two on the same day?

If the seller has had an offer, they should do the decent thing and accept it or refuse it.

Nothing indecent in waiting a few days to see if other offers come

thequant

pinky28 wrote: »

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

leaving aside whether you are being player or not, which In my opinion you are. You now need to play the game.


Put yourself in the vendors shoes, if they have been on for months then they havn't had an offer they have liked. Now assuming this other buyer exists, now the vendor has a potential bidding war.


But it will only be a bidding way if you are willing participate, no vendor will turn down a bidding war especially if they have been struggling to achieve the asking price.


So what you need to do is make an offer which shows you are serious, but below your max. Don't worry about beating the potential phantom offer.


If you are below, they will come back and ask you to up your offer. At this point you insist on a 2nd viewing.


Let say you are willing to beat the phantom offer by say £5k, would any vendor seriously risk this for the sake of taking an 1/2 an hour out of their time to conduct a viewing?

pinky28

getmore4less wrote: »

If this has been on for months why have you just found it?

We havent just found it. We have been looking at it online since it was listed but unfortunately were not in a position to make a move until last week. We didn't think we would be able to borrow any where near the asking price. Rather than waste peoples time we waited to get a decision in principle before viewing houses that are 30 grand above what I was previously able to borrow!

pinky28

thequant wrote: »

leaving aside whether you are being player or not, which In my opinion you are. You now need to play the game.


Put yourself in the vendors shoes, if they have been on for months then they havn't had an offer they have liked. Now assuming this other buyer exists, now the vendor has a potential bidding war.


But it will only be a bidding way if you are willing participate, no vendor will turn down a bidding war especially if they have been struggling to achieve the asking price.


So what you need to do is make an offer which shows you are serious, but below your max. Don't worry about beating the potential phantom offer.


If you are below, they will come back and ask you to up your offer. At this point you insist on a 2nd viewing.


Let say you are willing to beat the phantom offer by say £5k, would any vendor seriously risk this for the sake of taking an 1/2 an hour out of their time to conduct a viewing?

I dont think there will be a bidding war. Is it not just a case of highest offer wins? Knowing the agents in question the vendor probably doesnt have a clue about our interest in the property.

We are just going to leave it. Its too many ifs buts and maybes and too rushed as we have only just started looking with our new amount we want to borrow in mind.

Im pretty sure I will be getting a phone call at 10.01 from the agents to ask why... and I will be telling them :-)

Thanks everyone for help and advice

anselld

pinky28 wrote: »

I dont think there will be a bidding war. Is it not just a case of highest offer wins? Knowing the agents in question the vendor probably doesnt have a clue about our interest in the property.

We are just going to leave it. Its too many ifs buts and maybes and too rushed as we have only just started looking with our new amount we want to borrow in mind.

Im pretty sure I will be getting a phone call at 10.01 from the agents to ask why... and I will be telling them :-)

Thanks everyone for help and advice

Very sensible.

My guess Monday you tell them you are keen on the property but not interested in a bidding war or gazumping another bidder. Later in the week you get a phone call saying the "other bidder" has suddenly pulled out.