Is this insulting?

geordiepaul2001

A quick update to this thread

My Wife put an offer in for £85,000 on the 5th of Septermber which was subsequently rejected the following day.
The estate agent has only said that they are looking to get closer to the asking price.

I personally think £85,000 was too low to start the bidding at, and bidding in small increments upto £100,000 is going to take months.
Would it be a huge mistake to make my next offer circa £95,000??

lindens

I'd go in at £90K now and then £93k, £94k, £95K

geordiepaul2001

Do you think its best to wit until Monday until putting in a follow up offer?
I was going to view another property with the same company but they have nothing of a similar price to what we wish to pay.

JohnInDebt

Thanks for posting the link, I'm gonna offer £105k.

















Only joking

geordiepaul2001

lol would be just my luck.

The estate agent has just called and asked if I wanted to increase my offer.
Is this standard practice so soon after a bid is rejected?

KiKi

EAs do phone, yes, but it does suggest that they're keen to sell...! It may be that the vendor went back to the EA and asked them to ask you if you'd up your price a bit.

I'd offer £90K but then I'd leave it a bit. If you keep upping it quickly they'll know that you're quite interested in having it.

geordiepaul2001

Thanks for the replies folks.
I'll let you know how I get on.

alanobrien

geordiepaul2001 wrote: »

Hi all,

My Wife and I have seen a house we really want to buy.
Its on the market for 'offers around' £110,000.

During one of our viewings the vendo sid that she had broken u with her husband and needed a quick sale to finalise things with her ex.
The house has been on the market for 9 months with no offers.

As I have no home to sell (no chain), would an offer of £100,000 be insuling?, or should I start lower/higher?

Paul

No just business.
Last year a friend was offered 250k on a house that was on the market for 385k, it sold a couple of months later for 350k.

ZZZZZZ_2

I dont understand why buyers would care if a seller is offended by an offer - if I was in your position I would stick at £85,000. Don't increase it - they may want more money but the situation they are in and the high probability of a market in decline, plus the fact that you are not in a chain makes it likely that they will move towards your bid.

Soprano

I'd go 90k on Tuesday. The theory being, the seller would almost be expecting another offer on Monday and get her hopes up.

As Monday ends, she may be more open to the 90k. If that is rejected, go £93,700 on Friday. The second offer sounds like you have just stretched your budget to the maximum.

Its all a game really.