How to make myself more attractive as a buyer?

WeAreGhosts

Viewing done - there are seven parties interested, two offers (one over asking price), two other parties are cash, one of those is (like me) chain free.

Think it's going to be crazy tomorrow as soon as the agent opens.

I stressed that we can move as quickly or as slowly as needed. The owner is moving in with friends, so no chain above.
The owner seemed pleased about there being no chain at all with me ... when I mentioned that I knew there was another offer and said I know it's "cash but with a small mortgage" he didn't even know about the mortgage! Seems the agent might be questioned about that tomorrow!

I feel the offers are gonna go up and up ... it's knowing when to stop that's tough. Like being in an auction.
Hoping it doesn't go to sealed bids.

danslenoir

WeAreGhosts wrote: »

Hoping it doesn't go to sealed bids.

My experience is that it almost certainly will go to sealed bids ('best and final') if there are multiple parties making competitive offers.

Probably better than the sellers/agents continually playing buyers off against each other ad finitum, though.

Offer the most you think the house is worth to you and that you'd be happy to pay if you are keen on it. Pretty simple, really.

Okrib

Sealed bids will ultimately save you time and would be the best outcome. Otherwise it will be back and forth among multiple parties and the whole thing will drag on and people will get more stressed.


The agent should have a standard form that they send to be filled in for these situations. I would also make sure that the agent confirms that once the sealed bids are done, there will be no more back and forth, and that there is an exclusivity period for the highest bidder. As it's a freehold title and you are a cash buyer, it should be possible to exchange very quickly.


Make sure you state the other benefits your position has (flexibility, cash etc) as well as the fact that you want it to be your home in your covering note.


You also need to trust the agent to do the right thing - which depending who they are, might be the difficult bit. When I do sealed bids I open them at exactly the time specified and make sure my client has agreed to this being final and going with one of the offers if considered acceptable.


If it does go to that, then put down the amount that you're happy to pay, and wouldn't be upset if it goes for more.

WeAreGhosts

Sealed bids due in tomorrow! It's between me and two others, one of those is the one who needs a small mortgage.

I have written a letter to the vendor, stressed the good position I am in, said how much I loved the house and how it would be used as a family home.

It was really difficult deciding on the offer because my budget is quite a bit more than it's on the market for. But in the end I went £10k over and stuck at that because I don't think the house is worth more, based on square footage and the work needed.
I'm hoping no one goes mad with their offer.
Had a face-to-face chat with the agent today, so hopefully they will remember tomorrow how much I like it
Fingers crossed!!

Debtslayer

WeAreGhosts wrote: »

Sealed bids due in tomorrow! It's between me and two others, one of those is the one who needs a small mortgage.

I have written a letter to the vendor, stressed the good position I am in, said how much I loved the house and how it would be used as a family home.

It was really difficult deciding on the offer because my budget is quite a bit more than it's on the market for. But in the end I went £10k over and stuck at that because I don't think the house is worth more, based on square footage and the work needed.
I'm hoping no one goes mad with their offer.
Had a face-to-face chat with the agent today, so hopefully they will remember tomorrow how much I like it
Fingers crossed!!

Fingers crossed for you; hope you're on here tomorrow with good news

Bogof_Babe

I'm dying to know whether this is in (or around) London, or has the whole country gone mad with property shortages?

Anyway best of luck, I really hope you get the house you have fallen in love with.

WeAreGhosts

Bogof_Babe wrote: »

I'm dying to know whether this is in (or around) London, or has the whole country gone mad with property shortages?

Anyway best of luck, I really hope you get the house you have fallen in love with.

No, I'm in Yorkshire!
The market's probably similar to most places in the country apart from London - the decent, well priced properties go very, very quick. But there's a lot that languish on the market because the vendors won't lower the price. There's one that's just been taken off the market that had been on for three years! About £50k overpriced.

chelseablue

Good luck! Come back and let us know how you got on

WeAreGhosts

I GOT IT!!!!

Subject to survey anyway.

Thanks everyone for their help

Bogof_Babe

weareghosts wrote: »

i got it!!!!

subject to survey anyway.

Thanks everyone for their help :d

fantastic!!!!