Sit and wait or up my offer?

Paully232000

Lokolo wrote: »

Well that would be the case if the OP was thinking of upping their offer, but they've said later on that "£195k was the most I was originally willing to pay", when they also thought the property was worth £205-215k.

So if I was the vendor, and £205-215k was a realistic valuation, why would I accept £195k?

Yes if the OP was willing to start a bit under valuation and go up then fine, but thats not what the OP has done...

I also didn't bother with "negotiation". I offered what I thought it was valued at and stated that it would be my only offer. It was accepted a week later.

Fair point, but the OP also said this:

"I think 200 is probably the most I would be willing to pay, but then I said that originally about 195. So I don't know!"

Lokolo

Paully232000 wrote: »

Fair point, but the OP also said this:

"I think 200 is probably the most I would be willing to pay, but then I said that originally about 195. So I don't know!"

Haha yes, I think the OP needs to clarify what they think its worth, how much the maximum they want to offer and we can go from there.

inatdeepend

My "valuation" might be completely wrong of course anyway, but I have tried to be sensible about my reasoning.

And also if I really liked it so much, I would be a bit more willing to up my offer. But I don't like it enough, which is probably half the problem!

Mojisola

inatdeepend wrote: »

Seen house I like, was on market at 237,500.

Based on my "research", I think property is worth more like 205-215.

I made offer of 195.

A house is 'worth' what the buyer is willing to pay and the seller willing to accept.

You have to set your limit for the house and stick to it.

inatdeepend wrote: »

It ticks all the practical boxes, especially the big two for me (quiet location, not overlooked).

There are a lot of other houses on the market but not many of them will have the quiet location which isn't overlooked.

How valuable are those two points to you?

labbong

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ReadingTim

Leave it, as you're clearly don't have *that feeling* about the place.

It sounds corny, but I think you do get a certain feeling about which house you want to buy, which hits you in the heart in a matter of seconds, not in the head after carefully weighing up the pros and cons of the transaction....

That's certainly what happened to me with my house - a very unremarkable 2 up 2 down Victorian terrace in Reading. Despite there being hundreds of similar (if not identical) Victorian terraces in the town, and having visited a reasonable number in my house-hunt, there was just something about the place that made me think "this is the one for me". The largest single purchase in my life to date, decided shortly into a half hour viewing of the place.

I'd therefore save my money for somewhere which makes me feel like that.

Paully232000

ReadingTim wrote: »

Leave it, as you're clearly don't have *that feeling* about the place.

It sounds corny, but I think you do get a certain feeling about which house you want to buy, which hits you in the heart in a matter of seconds, not in the head after carefully weighing up the pros and cons of the transaction....

That's certainly what happened to me with my house - a very unremarkable 2 up 2 down Victorian terrace in Reading. Despite there being hundreds of similar (if not identical) Victorian terraces in the town, and having visited a reasonable number in my house-hunt, there was just something about the place that made me think "this is the one for me". The largest single purchase in my life to date, decided shortly into a half hour viewing of the place.

I'd therefore save my money for somewhere which makes me feel like that.

Not corny at all, I think you are right.
We had decided to buy the house we are currently in before we looked at it in person, just wanted to see it to make sure the roof wasn't falling down etc. Spent 1/2 hour looking round, didn't bother with a second viewing and offered on it. Sometimes first impressions are right, does no good at times to over-think things....even things that are worth 100sK

MysteryMe

Why do people keep coming up with this "I'm not here to make friends" line. It's nothing to do with making friends, it's portraying yourself as a credible buyer. Everyone wants to buy something for the least amount of money and there is nothing wrong with that at all, but very low offers, posturing and belligerence are not the best negotiating tools in my experience. It sounds like this property is not the one for the OP in any case. Hopefully they will have a good nights sleep before their next foray into the housing market.

inatdeepend

Well I have submitted an offer of 196 but that's as far as I'm prepared to go. I've made it clear it's take it or leave it but don't come back to me again if it's a no.

LannieDuck

Sounds like the EA trying to drum up a higher offer for their client - the vendor may well be happy to sit and wait. Depending on their circs, 4 mths might be a long time, or it might not.

As someone currently selling a flat, I've just had a potential buyer try and mess me around with low-ball prices. They came in really low, then came back a week later with a slightly higher offer, then slowly upped it until their claimed 'maximum offer'. In the meantime a second buyer came to view the property, liked it, made a reasonable (second) offer, and we accepted. First buyer responded by offering more than second buyer, but we were no longer interested in them because they'd messed us around so much.

So... just take care not to annoy the vendors too much if you actually want the property. If, as you say, you're not bothered, that's different

Edit: Posted as you were posting your update - sounds like you're content to walk away, so most of what I've put above doesn't really apply