Buying a flat - making offers

ak74

Hi all,

I viewed a flat today on the market for 97500 and made an offer on it for 87000 as my starting point, the estate agent came back saying it was too low (as to be expected) then mentioned "more like 9 something...95.."

My maximum I can go to is 94...now is it worth putting in another lower offer under my maximum of 92500 ? I know they can only say no, but I do really want the property and will go in with my last offer but just wondering what everyone else's experience with this is?

I'm chain free, first time buyer, mortgage DIP in place from halifax, and plenty of friends in law firms so solicitors is no issue etc :money:

ConfusedofYorkshire

how long has it been on the market? and what is the market like?
unless you think there are other people beating down the door to get the flat too, then i'd be going up in small increments- not jumping straight to your max bid. the agent will be trying to push you as high as they can

ak74

It's been on the market for a month, not had any offers on it yet other than mine from what I understand, the estate agent was the one that initially suggested the place to me as he said the seller would be willing to take offers, I said to them I was looking at between 80-90k, but my budget can stretch to 94.

I'm in the south east, so there are nicely done up one bedroom's for 100k or decent two bedroom's for 99k, this is also a two bedroom and in nice condition and a decent lease of 94 years.

I'm just not sure how much my offers should be going in at, they want at least 90 something..but 5k off seems reasonable to me?