How to make myself more attractive as a buyer?

WeAreGhosts

****************Updated at post 37*************


I'm viewing a house at the weekend which has 8 other viewings booked in and an asking price offer on the table already. This is from someone in rented accommodation, who is a "cash buyer", but needs a small mortgage.

The agents have been a bit stroppy already and are pushing the plus points of this offer.

I'm totally chain free, cash buyer - the money's in the bank - but how can I make myself seem more attractive to the vendor?

I've had previous offers rejected simply because I wasn't the first offer - even if offering more!

Never been in such a competitive market before - any tips are appreciated.

p.s the viewing is being done by the vendor, not the agent.

csgohan4

Offer what you think the house is worth.

Some Vendors may prefer Non cash buyers as cashbuyers can pull out with minimal costs occured at the last minute.

*~Zephyr~*

If he needs a small mortgage, he's NOT a cash buyer.

Best way to make you more attractive? Offer more money.

foxy-stoat

If you have online banking, show the vendor your mobile phone with the bank balance, adjusted to suit your offer.

The other buyer is not a cash buyer, so the Estate Agent has lied.....shock!

WeAreGhosts

I thought at the time 'how is that a cash buyer?!'

The house is nowhere near the top of my budget, so can offer more. But am conscious about the street pricing - I'd end up with a house that had sold for nearly 100k more than others ... although it is the biggest on the street, so hard to compare ...

saverbuyer

How to make myself more attractive as a buyer?


Have you tried makeup? Maybe a new hairdo?

danslenoir

WeAreGhosts wrote: »

I'm viewing a house at the weekend which has 8 other viewings booked in and an asking price offer on the table already. This is from someone in rented accommodation, who is a "cash buyer", but needs a small mortgage.

The agents have been a bit stroppy already and are pushing the plus points of this offer.

I'm totally chain free, cash buyer - the money's in the bank - but how can I make myself seem more attractive to the vendor?

I've had previous offers rejected simply because I wasn't the first offer - even if offering more!

Never been in such a competitive market before - any tips are appreciated.

p.s the viewing is being done by the vendor, not the agent.

I think flexibility would be seen as a selling point. As in, if the vendor has to look for another house to live in you after he/she has accepted an offer on his/her house, you could state up front that you are in no rush to complete and are happy to give them time to find their dream house without pressuring them. Similarly, if they want to move quickly, you are chain-free and ready to move as quickly as necessary.

Ultimately though, it's probably going to mostly come down to who is willing to cough up the most. That the vendor has not yet accepted the asking price offer and is going ahead with further viewings suggests they are (not unreasonably) holding out to see what the best price they can get will be.

WeAreGhosts

saverbuyer wrote: »

How to make myself more attractive as a buyer?


Have you tried makeup? Maybe a new hairdo?

:T

I was thinking of bribing with chocolates.


______

There was a moment when he wanted to shut everyone else out and take the offer, but was persuaded to let the other viewings happen by the agent (who will obviously get more cash if the house goes for a higher price - they're not stupid ... )

I will definitely mention flexibility.

lincroft1710

Offer 20% above asking price, you would become the preferred purchaser in both EA's and vendor's eyes.

Yes that is OTT, but making an offer at or above asking price is probably the best way to become the preferred purchaser.

WeAreGhosts

lincroft1710 wrote: »

Offer 20% above asking price, you would become the preferred purchaser in both EA's and vendor's eyes.

Yes that is OTT, but making an offer at or above asking price is probably the best way to become the preferred purchaser.

20% would take it £100k above the average of the street. I think I'd be too scared to do that. It might be the biggest house on the street but it's not worth that much.

I will probably go in with a higher offer though.

MrJB

Presumably you will need a mortgage? You may struggle to actually get a mortgage at the level you require if your offer is 20% over the asking price and potentially significantly over the market price.