Offered asking price on house- no repsonse

stator

Just let them know that you are continuining to look elsewhere, so your offer won't stay on the table forever. Little else you can do but wait.

ognum

Stephny691 wrote: »

At the minute in the online advertisement, they simply list it as 250K, no mention of any current offers or anything...

They won't put anything on line but will tell viewers that they have an offer already, this will bench mark the price.

It's a waiting game, 6 months ago your £250k offer would have hit the 1% stamp duty ceiling and you could have been pretty sure it wouldn't nudge up but now you may have to be prepared to offer a bit more but your SD payment will be less!

Stephny691

ognum wrote: »

They won't put anything on line but will tell viewers that they have an offer already, this will bench mark the price.

It's a waiting game, 6 months ago your £250k offer would have hit the 1% stamp duty ceiling and you could have been pretty sure it wouldn't nudge up but now you may have to be prepared to offer a bit more but your SD payment will be less!

Okay educate me- what the heck is stamp duty exactly?

(Don't worry, my partner will actually deal with buying the house and he does know about these things, but I'm so dense about it, he doesn't want to explain to me again :rotfl:)

rosie383

Stamp duty is tax that you have to pay to the tax man when you buy any property over £125k. Used to be that there was a threshold at certain levels and if you went even £1 over, then you would be liable for a big bill. Now it is on a sliding scale so you will be paying less than you would have before.

Stephny691

rosie383 wrote: »

Stamp duty is tax that you have to pay to the tax man when you buy any property over £125k. Used to be that there was a threshold at certain levels and if you went even £1 over, then you would be liable for a big bill. Now it is on a sliding scale so you will be paying less than you would have before.

Ahh, thank you.

I don't know what to do for the best, whether to phone the EA and see what's going on, or just to just wait until they phone us. It's a pain cause we don't know whether to go get the mortgage ball rolling or not.
We were preapproved for an amount but that ran out and of Jan, should we at least go get that re-validated?

DRP

Stephny691 wrote: »

Ahh, thank you.

I don't know what to do for the best, whether to phone the EA and see what's going on, or just to just wait until they phone us. It's a pain cause we don't know whether to go get the mortgage ball rolling or not.
We were preapproved for an amount but that ran out and of Jan, should we at least go get that re-validated?

You need to view it through the agent (presumably last time you went direct to vendor to view?), in order to get back on their radar. You can quiz the agent at the viewing or when you give feedback.

Stephny691

DRP wrote: »

You need to view it through the agent (presumably last time you went direct to vendor to view?), in order to get back on their radar. You can quiz the agent at the viewing or when you give feedback.

Thanks. We'll book to do that then.

I guess we just thought 'we've found a house we love, let's just offer asking price and then it's all sorted!'

It's early days yet though I suppose.

nubbins

Stephny691 wrote: »

I guess we just thought 'we've found a house we love, let's just offer asking price and then it's all sorted!' .

Its hardly ever as simple as that! Slow down, you are sounding too keen. I know you love it but you need to put your poker face on otherwise you are going to get played like a fiddle. Arrange a viewing through the EA, let them know you are interested and in a great position but make sure you let them know you have a few other properties to see. I expect the EA to tell you theres loads of interest and it will go above ask blah blah blah but stick to what you can afford and more importantly what you think its worth.

shimano

I had this happen before, I was given a preview of a flat before they advertised, offered what they said was the asking then they dithered and then put it on for £25k more.

The vendor/EA will definitely be thinking that they can get more if they got an offer that quick. Funnily though they came back to me 4 weeks later and I refused.

It's why this time round I absolutely refuse to offer anything until its on the market (we had 2 "previews" like this again).

Stephny691

nubbins wrote: »

Its hardly ever as simple as that! Slow down, you are sounding too keen. I know you love it but you need to put your poker face on otherwise you are going to get played like a fiddle. Arrange a viewing through the EA, let them know you are interested and in a great position but make sure you let them know you have a few other properties to see. I expect the EA to tell you theres loads of interest and it will go above ask blah blah blah but stick to what you can afford and more importantly what you think its worth.

Fortunately we are atm in a a great position to buy, we don't have anything to sell and have quite a good deposit. We've arranged another viewing through the EA on Tuesday, so it will be poker faces at dawn. (I think that's a mixed metaphor).