keeping a level head when buying..?

richtung

Out,_Vile_Jelly wrote: »

If you have an AIP and a solicitor lined up, and can move easily and flexibly this will make you more attractive to the vendor if they have multiple offers following the open house.

Yes, we are chain free, have an AIP, deposit all squared away and our solicitor ready to take instructions.

Rich

Hoploz

Good advice from Walcott.

Remember, the first offer only sets the benchmark for everyone else! You'll get your opportunity, so don't go in and offer there and then, you still need to give it all your consideration to see whether it really is as right as you think.

jimbog

I would suggest you put your offer in through email so that you can be sure you are saying what you want to say in a calm manner.
It is also a good way to spell out your attributes as a buyer (i.e. no mortgage/nothing to sell/mortgage agreed in principal or whatever)

richtung

Just an update for those who are interested.

Went to the viewing as mentioned in earlier posts. House was decent and probably the best we've seen so far. It pretty much ticks our boxes.
EA was keen to mention about the massive interest in the property etc etc but we just nodded and not let it phase us us really.

Vendors are in an upward chain and looking to move to a more rural area. They don't have a place in mind yet. I mentioned to the EA that we were chain free and would be quite flexible on completion timescales.

Just discussing with the wife when to go back for a second viewing - will bring a friend who wont be wearing the rose tinted glasses.

In terms of likely offers - we feel the property is overpriced (as are most) and we reckon an offer of 90% of asking price is a more fair reflection.

Will do more research in the local area etc but wont discuss anything else further with the EA apart from arranging a second viewing.

Will keep you updated on how this unfolds.

Rich

Hoploz

They aren't in a hurry to sell straightaway then ... So are probably likely to hang about for a good price. If they find something they want to buy, they may consider lower offers to get the chain moving.

ognum

richtung wrote: »

Just an update for those who are interested.

Went to the viewing as mentioned in earlier posts. House was decent and probably the best we've seen so far. It pretty much ticks our boxes.
EA was keen to mention about the massive interest in the property etc etc but we just nodded and not let it phase us us really.

Vendors are in an upward chain and looking to move to a more rural area. They don't have a place in mind yet. I mentioned to the EA that we were chain free and would be quite flexible on completion timescales.

Just discussing with the wife when to go back for a second viewing - will bring a friend who wont be wearing the rose tinted glasses.

In terms of likely offers - we feel the property is overpriced (as are most) and we reckon an offer of 90% of asking price is a more fair reflection.

Will do more research in the local area etc but wont discuss anything else further with the EA apart from arranging a second viewing.

Will keep you updated on how this unfolds.

Rich

If you decide to offer make an offer that in six months time when maybe nothing else has come that you like you will not regret.

Remember this will be your family home, if you plan to live there for several years it is unlikely you will lose on the purchase.

Do what you are comfortable with, if someone else is comfortable with a higher figure then so be it.

richtung

just another update:

Phone call from the EA - it was the duty bod who did the Sunday shift rather than the guy who showed us around at the open day.

EA tells me there was decent interest in the property and that they had received a couple of offers as a result of the open day yesterday. He felt that a deal would be reached in the next couple of days and wanted to give us the opportunity to submit our offer.

I didn't submit an offer and said i wanted to discuss things further with the wife.

I do plan on arranging a second viewing in the next few days but im not panicked (in part due to researching the various tricks the EA's get up to).

Rich

ognum

I recently (6 months ago) sold a house. We had about 20 viewings on open day. Some offers came that day, EA phoned around on the Sunday asking if people would like to submit offers.

In total by Monday morning at 10 am we had 8 procedable offers, by Monday afternoon we had agreed a sale.

No one had a second viewing, it went that fast. I am not saying EAs don't trick people but some don't on some sales.

If I had someone comeback on the Monday and say I am not offering until I have had a second viewing I would have said 'tough' we have offers and we just want to get on with it.

It is dangerous to try to play this as a game in a fast market, if the market is slow or you are not bothered about the house then do it. If you want the house then make your best offer.

richtung

Thanks Ognum,

we understand what you have said and appreciate the advice.

I have just received the email address of whom to submit our offer to. Will submit the offer along with a reminder of our position.

I've been constantly reminding myself that as long as we don't go crazy and stick to what we have agreed as our ultimate limit on what we are prepared to pay for the property, we can keep our emotions in check, we wont play the dangerous game of making bids that we cant afford.

Thanks

Rich

I_have_spoken

Im a a decent negotiator and not shy at all with haggling

How are you when the wee wifey is in floods of tears about risking losing 'her' dream home?