Advice needed, viewing and making an offer!!

littlelost

Hi All


We have been unlucky so far in our hunt for a home; our property is sold and we had found a home only to be gazumped during the process. This has now left us with a mortgage offer and no house....


A new property came on the market last night that we really like the look of so we called the estate agent today to arrange a viewing. The estate agent advised us that 8 viewings had been booked so far and they could only get us in tomorrow.


The property is being marketed at offers over £230k we have a budget of £236k....


Now if we really want this house should we just go straight in at the £236k and given that there is so much interest what can we say of do tomorrow at the viewing to make our offer sound more appealing??


With all the interest I understand that we may face being gazumped again and if anyone can offer advice on how to avoid it please let me know....We have now been looking for properties since the beginning of January and there is very little coming on the market, even the surveyor that came out to do our survey has said that it has really slowed down in our town recently and he has heard a number of recent occasions whereby buyers have been gazumped.


Thanks

Hoploz

The only way to avoid being gazumped is to make sure your vendor is committed to you. That means being in a good, proceedable position as well as just offering a good price. It also means they need to be ready to move as well. It may be a great house, but if they have not started looking yet or for another reason are not yet committed to sell then it could still leave you back at square one.

So my advice to you is to get the most info you can about the vendor's situation, just like they would expect the full picture in order to decide whether to accept an offer from you. The most communication possible regarding the whole chain is the best thing to offer.

Then think about whether the price is appropriate.

AlexMac

Yeah- make sure the Agent knows how robust and attractive you are, and offer the asking, with the rider that you have identified a solicitor who you will instruct promptly and who you will ask to proceed with all reasonable haste (whether or not that's true; it will only take you a couple of days to find one if not already done).

Our mates, having been second or third in the offers stakes recently, offered a few quid over the asking last week, had it accepted, and then, when a rival gazumper came in with a higher offer, their vendor refused it and stuck with them! So there are honorable sellers out there. Best wishes, and good luck