Tactics when offering please help!

Bobanna

That's best and final rather than beard and final...obviously

nubbins

You obvously do not want to play your final card too soon but as has already been stated I would not be getting yourself worked up with a final offer of 610 against an asking price of 675. I do not want to put a downer on anyone but I think you will get the same response a second time.
In terms of cash and chain free, yes its likely to swing things in your favour if the offer was say 650 but I would be shocked if it gets you a £65000 discount.

Bobanna

I completely take the points made, but from the estate agent behaviour I really think she is bumping up the offer price from something much lower.

When I said we wouldn't be able to offer anywhere near original offer she basically said we should offer what we think it's worth and kept talking about the vendor just wanting to be out so being open minded. We like this one over the others nearby because of the access for baby/pram, but the others are lovely, similar sizes or bigger, and on at around the price of our offer!

Thrugelmir

Bobanna wrote: »

We hoped our offer potentially successful for a few reasons-

Um sorry to burst your bubble. You've gone in at £90k under. Hardly an offer for someone to bite your hand off.

its been on the market since november with one offer in december which fell through although its not clear why.

November is hardly any time for a property at this price level to be sold. Buyers are going to be limited. Time of year won't help either.


Stick to your own plans and stop reading into what others are doing. As most likely they aren't.

nubbins

Take what estate agents say or do with a pinch of salt. In commission terms, say they are on 1%, if she gets the vendor 610k = £6100 commission, if she gets 640k = £6400. If anything she would be pushing the seller to take what they can get for a nice quick 6k in the bank. Estate agents always like to get any offer in for the seller as it makes them look like they are working for their nice fat commission cheque.

md87

Hoploz wrote: »

I have posted on here before, that I was selling at a similar level, I got an offer 100k less than asking. Man started upping his offer a bit at a time, I told the agent I was not interested in any more offers from him, even if asking price, as I would not trust he would go through at that level as he had initially offered so low. (I got its proper value from someone else quite easily).

So be careful with your next move, if you actually want to buy the house .....

Love this post. I just sold my house and in my view a lot is to be said of how a person feels about the buyer, are they likely to pull out or argue about a small amount of money? If the survey reveals a minor problem are they likely to want a deduction or again, are they likely to pull out?

A bit of background. This was before Stamp Duty changes. My house was marketed at 130k. We had numerous offers at 120k, I knew that the true value was 125k (researched the area and knew what else was available in my area and the prices etc). We reduced to 125k and initially the estate agent just put an asking price of 125k and not a fixed price (which they changed in due course). Some first time buyers came along and initially made an offer at 120k. Now they had one of their parents acting for them so he made the offers on their behalf and did the negotiations. We said we wanted 125k or would not be selling, as not desperate to move etc. They played on fact they were first time buyers. They said they were willing to offer 125k but wanted to know if leaving carpets. We advised probably taking carpets, depending on where we move to, but that we would be happy to leave some other things (did not go into detail). Immediately pulled out. I thought lucky escape as I envisaged nothing but problems as they were acting through a middle man (their father) and just their attitude generally.

A month or so later sold to another first time buyer at 125k, again advised probably taking carpets but would leave them a host of other things (such as kitchen appliances) etc. Generally got a better feeling about this buyer straight away. No negotiations just paid the fixed price. Obviously he knew the area just like me and knew that it was a fair price. He gets many other benefits (kitchen appliances we are leaving) which the other buyer did not give us chance to explain.

By all means make a lower offer, but I think it would have to be much closer to asking price to be considered serious. As the quote above suggests, if the proposed buyer is messing about upping at 2k a time I would also say not interested and move on.

Bobanna

So the agent called yesterday to say there had been an offer of 640 from someone who hasnt sold his house yet but is waiting for an offer. Agent said the vendor would rather wait for this person than take a lower offer. I asked if raising our offer would potentially get it for us, and she said hmm she didnt think so but we could leave our best offer on the table. she offered to show me other things. Then in the middle of her saying something the line went dead and she didnt call back...

A friend who is an agent called the agency incognito to ask how the land lays as he might want to see the property. Another agent said they have had an offer from a girl of 620, who then raised it to 625...but the vendor isnt ready to accept such a low price yet, although she is really really keen to get out.

Are we the offer he mentioned? Or is this the actual other offer?!

What would you do now??

Mojisola

Bobanna wrote: »

So the agent called yesterday to say there had been an offer of 640 from someone who hasnt sold his house yet but is waiting for an offer.

Another agent said they have had an offer from a girl of 620, who then raised it to 625...but the vendor isnt ready to accept such a low price yet, although she is really really keen to get out.

Are we the offer he mentioned? Or is this the actual other offer?!

Both other buyers might be figments of the EA's imagination.

Bobanna

yes it seems so...obviously how they do business there.
Whats the best way forward for us? I just wish the agent would say a realistic and fair figure the vendor would be happy with so we could evaluate whether we can stretch to it.

Hoploz

Just offer what you can stretch to and if you can't afford what they want carry on looking.