House offer

firsttimebuyer14

Hi,

apologies if this is in the wrong place. I put an offer in on a house I really like yesterday. It is selling at offers over £109,000 and I put in 105,000... I know that is a good deal under the asking price but it was my first time ever putting an offer and wanted to test the water.

The EA came back and said they are looking for offers over the £109,000 - my question is does that mean I should only go back with offers over that? Can I go back in under the 109 and reiterate that I'm a FTB, immediate move etc?

Thanks

S

Barricade

You can go back with whatever you may feel you think the property is worth.

The EA has to provide that to the Seller and for the Seller to respond with yay or nay. Bear in mind, the Seller may have already told the EA not to accept anything below 109, so the EA may just tell you No.

ACG

As above, go back with whatever you like.

firsttimebuyer14

Thank you for this,

I'll wait until Monday and decide what else to offer.

Thanks again

S

amnblog

'Selling at offers over £109,000' gives you a clue as to what their expectation is.

All you can do is decide the maximum you are prepared to pay for the property and keep in the loop with the estate agent, negotiating as you go.

cevans65

Try and find out how long been on market, have they dropped price etc (zoopla) also is it a comparable price to other similar houses u have seen, like for like sort of.


That said, bottom line is it is worth what u (or anyone else) is willing to pay so as amnblog said, decide what max u want to pay, keep in with estate agent, reiterate ist time buyer etc etc and fingers crossed.


BTW The seller or estate agent does not value houses, banks and surveyor's do so put what u are prepared to pay, fingers crossed u get it, and then u never know but the bank may say it is worth less on survey, although that then is a whole other ball game of negotiation :-)

desperate_times

I presume seller is hoping to get more than one person interested at the same time and get a bit more than 109. If you are the only one interested at the moment likely they will accept 109 or a bit below. I would try again with 107 and see how you go.