Viewing a house at an open day

Yolina

agrinnall wrote: »

How long has it been on the market? If it's a short time then the open day is probably because there are a lot of people interested so you may well face competition. But if it's been on for a while then it could just be another marketing ploy and you could be the only viewer, in which case a low bid is more likely to be considered.

^^^ that ^^^

There's a row of 4 new-build townhouses across the road from me, 2 sold off-plan and 2 aren't shifting (the houses were ready to move into at the end of October) - the estate agent has been regularly organising open days since November to make it look like there is some interest, however at most they get 3 sets of people through the door :rotfl: and they're still not sold.

Lungboy

Don't let the agent know your MIP is for higher than the asking price.

Grenage

You will probably never know if an estate agent is being truthful about other offers, or the real expectation of price. To be honest, none of that matters.

You like a house X much, and are willing to pay X for said house.

You can play it cool and shop around, working out what local houses are selling for, and try to get a good deal. Will you lose out of a few houses? Probably, but there will always be another house.

If you really like a house, there's no shame in paying asking price - just don't get too emotionally invested and believe it to be 'the house'.

AlexMac

You're a better prospect than many so in a relatively strong position. Any decent selling agent will check out your viability and you should score well under such scrutiny. I'm with those who say you shouldn't be afraid to pay over the odds if as seems the case, there's not much on the market locally (as seems to be the case in Eccles). Is it the one at Mackenders Close, at http://www.pageandwells.com/search/aylesford/3-bedroom-semi-detached-house-for-sale-in-aylesford/full_details_bold3_new/940021

If so, it's only been on Rightmove for a few weeks, since 14th Dec, so an open day implies strong demand; maybe best not to go in too low- maybe £245k, stressing that you are a great buyer, then negotiate up.

And if so, that postcode has allegedly seen upward movement of over 9% in the last year according to Zoopla, if that makes the price seem more palatable

Even if you pay more, that's OK; you say its 'not modern' but making it 'modern' costs less than you think; new carpets, decor and new kitchen door/drawer-fronts only cost £4-5k; a brand new kitchen and bathroom only another £5-6k and knocking through a wall to the sitting room little more... Its a nicely propoertioned house with sensible layout

But if you do fail to secure it, don't panic. There's always another one! good luck

firebird082

Just a word of warning - we went to see a house that I was thinking similarly about. When we got there for the open day (*very* busy), it quickly became apparent that there were all sorts of issues with it which were not clear in the photos. I still liked it, but it wasn't a practical proposition for us.

If you can, take an extra person with you (friend? to the open day - they will notice all the practical things that you won't on a first visit. And take your time, especially if the house is busy. Don't let the agents rush you!

Not sure what the property market is like in your area, but by this stage you should have got a feel for how quickly or slowly nice houses are selling. That will give you a guide as to whether you have a chance of getting it for below asking or not.

average_joe

just make your best and final offer

Itsrelfy

Thankyou very much for the advice. I find it very useful. Guess we will see what happens Saturday. We are not gonna be drawn into anything. We know what our top end budget is and if that's not enough then so be it.

Thanks
Again Adrian.