Best and Final Offer

the_boot

cashbackproblems wrote: »

and in January there will be many more properties coming to the market, along with big sell offs by BTL.

Can I ask why you say that?

Is it;

- New year marketing campaign by the EA's?
- LL's leaving the market due to the new tax conditions?

alchemist.1

the_boot wrote: »

Can I ask why you say that?

Is it;

- New year marketing campaign by the EA's?
- LL's leaving the market due to the new tax conditions?

The market slows down for Christmas. People stop looking.
New Year, New start outlook
Divorces after Christmas.:rotfl:

robatwork

"Best and final offer"

I blame Kirsty and Phil.

konark

I thought at first 'best and final' might be a tautology. Would your best offer always be your final one? Ok, if a seller refused £200k then you wouldn't come back and offer £190k, but you could attempt a gazunder near exchange of contracts if the survey throws up a few problems. If that worked your best offer wouldn't be your final one and your final offer wouldn't be your best one.

It's just meaningless twaddle anyway, if your 'best and final' offer was higher than the other parties' and then another party came back with a 'better and more final' offer the Estate Agents would take that no problem and not honour yours. I mean, it's not like they have any code of ethics or anything to uphold, they're only Estate Agents and lying, scheming and bilking is all part of the role..

OP, you say you would have preferred a bidding war, well that is exactly what this is, there can be as many 'best and final' offers as you want, the EA and the vendor will never honour any as being 'final' and will always grab the highest.

Bossypants

cashbackproblems wrote: »

I have been in this situation twice and rejected both times, however i offered what i felt it was worth based on recent sales and what else is otherwise on the market along with my maximum budget so no rejects. You cant have any emotions involved its ultimately an asset and in January there will be many more properties coming to the market, along with big sell offs by BTL.

I don't know about that, that's what I was told this time last year by every EA I saw, but come January it just didn't happen. There was even a slowing compared to late December, so don't bank on it.

kinger101

konark wrote: »

I thought at first 'best and final' might be a tautology. Would your best offer always be your final one? Ok, if a seller refused £200k then you wouldn't come back and offer £190k, but you could attempt a gazunder near exchange of contracts if the survey throws up a few problems. If that worked your best offer wouldn't be your final one and your final offer wouldn't be your best one.

It's just meaningless twaddle anyway, if your 'best and final' offer was higher than the other parties' and then another party came back with a 'better and more final' offer the Estate Agents would take that no problem and not honour yours. I mean, it's not like they have any code of ethics or anything to uphold, they're only Estate Agents and lying, scheming and bilking is all part of the role..

OP, you say you would have preferred a bidding war, well that is exactly what this is, there can be as many 'best and final' offers as you want, the EA and the vendor will never honour any as being 'final' and will always grab the highest.

I don't think you can speak for every vendor.