No good at this game!

claire_mc_2

Hoploz wrote: »

Ask the agent to find out whether, if a good offer was made, they would cancel the open day or not. If they say yes, then offer, if they say they're going ahead with it anyway, don't.

And what about after this, if they won't cancel it? Still go ahead with an offer after the open day?

We are in Staines at the moment, but sadly we can't afford to stay here. We're looking in Slough.

I'm very wary of flood zones, our ground floor flat is right by the river and this time last year we were nervously watching the Thames lapping at the bottom of our garden!

Hoploz

Yes, if they do the open day they will get all (if any, you never know!) offers in afterwards and you can gauge interest then and offer accordingly. If you still think it is the one after viewing it of course!

claire_mc_2

ethank wrote: »

Remember it takes about 3 months for prices to filter through, so most prices were in December.

Some areas like Luton have seen a 10%+ increase since December!

I'd look at what else is on the market around the price and see how that house measures up

Thanks, I've done that and feel better about it now, there are a few places going for £289k that aren't as nice.

TranceNRG

If you make an offer tomorrow (and accepted) then you might just be able to get the survey booked depending on your lender.

Or others have said, find out if they'll cancel the open day if the offer is accepted. If they won't, still go ahead with the offer. Then you just have to wait and see if others will offer more.

Id say make your asking price offer asap.

dinofabio

open days can generate a lot of new (unwanted) interest.

Try to do a deal prior if you can.

Also, some vendors want an open day to try to get a bidding war going and therefore will be reluctant to take it off before unless it's a good offer. Depends what the demand is like where you live.

claire_mc_2

I'm going to see the house this afternoon, and assuming I like it as much as my husband did, we'll put in an asking price offer today. We've also spoken to our broker to kick off the mortgage process.

They won't cancel the other viewings though, they don't want to put all their eggs in one basket . So we'll see if it goes over asking price, and if it does, we may not be able to match it.

martin1959

Our property will be going on the market in a few days. We may have an open day, we have not yet decided. It would be easier, as we have dogs so we could kennel them for the day.


However, we would NEVER take the property off the market even after agreeing an offer, until the survey had been carried out, and we know that money has been paid that will be lost if the purchaser pulls out.


The position of the purchaser does make a difference. We would prefer a buyer who is chain free (perhaps previous renter), and ideally someone who is prepared to exchange with a longer period to completion (2 months plus).


We would be prepared to accept a lower offer from someone who fits this criteria. So while the amount of the offer is important, it is so important to 'sell' your situation (if it is worth selling!).

TranceNRG

claire_mc wrote: »

I'm going to see the house this afternoon, and assuming I like it as much as my husband did, we'll put in an asking price offer today. We've also spoken to our broker to kick off the mortgage process.

They won't cancel the other viewings though, they don't want to put all their eggs in one basket . So we'll see if it goes over asking price, and if it does, we may not be able to match it.

How did it go Claire? Will they not take it off the market even if the survey is booked (might get the confirmation of this soon after the mortgage application is submitted)

samba

claire_mc wrote: »

I'm going to see the house this afternoon, and assuming I like it as much as my husband did, we'll put in an asking price offer today. We've also spoken to our broker to kick off the mortgage process.

They won't cancel the other viewings though, they don't want to put all their eggs in one basket . So we'll see if it goes over asking price, and if it does, we may not be able to match it.

Sorry to disappoint you, but no sane person would accept an offer and take their house off the market days before an open day, unless you offer way over asking price, and even then they would probably think that if you were willing to pay over the odds, then others will too, so they would be even less inclined to cancel the open day.

claire_mc_2

TranceNRG wrote: »

How did it go Claire? Will they not take it off the market even if the survey is booked (might get the confirmation of this soon after the mortgage application is submitted)

Hi, it is a really nice house and ticks all of the important boxes, so we've put in an asking price offer at the end of today. The EA will talk to the vendor in the morning. They do still want to go ahead with the open day unfortunately, the agent said there was no possibility to cancel it no matter how far we managed to get before then. So it's a waiting game now but I don't think we'll know either way before Monday. The agent did say they might provisionally accept our offer but have the open day to get some fall back people in case we don't work out for some reason. They apparently are very motivated to get moving.

Even if our offer is accepted, we're now worried that the valuation will be too low, as I mentioned nothing nearby has gone for more than £275k recently, and the last house that sold on the street went for £236k in November. I don't know about the condition of that one, and this one is very good, but seems a big difference. If the valuation is low we won't be able to make up the difference. It's 15 mins walk from a Cross rail station so hopefully that will be taken into account.

There are so many hurdles with this process, it's hard not to get discouraged so I'm trying not to get my hopes up for now. It's great to have the helpful support from this forum though!