Making an offer when your house isn't yet on market..?

Iamdave

Usually look on rightmove etc weekly window shopping at houses, on the off chance that something more suited that current property arises at the right price.

The asking price is greater than I'm willing to spend however so is acceptable to bid to my limit without putting my property on the market first?

If they aren't willing to accept my upper limit then I'm quite happy to stay where I am so don't want the hassle of involving estate agents my side yet.

Houses in my estate sold in the last couple of years do seem to sell quite quickly.

nubbins

An offer without being proceedable is pretty meaningless 99% of the time but you never know someone may be willing to go with it if it suits their circumstances

Grampus8

Iamdave wrote: »

Usually look on rightmove etc weekly window shopping at houses, on the off chance that something more suited that current property arises at the right price.

The asking price is greater than I'm willing to spend however so is acceptable to bid to my limit without putting my property on the market first?

If they aren't willing to accept my upper limit then I'm quite happy to stay where I am so don't want the hassle of involving estate agents my side yet.

Houses in my estate sold in the last couple of years do seem to sell quite quickly.

Not a problem, as long as you are honest with the EA and vendors.

Iamdave

nubbins wrote: »

An offer without being proceedable is pretty meaningless 99% of the time but you never know someone may be willing to go with it if it suits their circumstances

yeah understand that, wouldn't want to put the house on the market if they are unwilling to accept my offer though as putting the house on the market is effectively meaningless too then.

theGrinch

You need to get bold

hazyjo

I replied to a similar post - pasting my reply below:
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IMO it's not a good idea to offer until you have a buyer:

1. It makes it seem more in demand to others who might offer more quickly/higher on it than if no interest (human nature to want what others want).

2. I once had a lowish offer and managed to get money off the house I was buying. The loss can be passed up the chain if they're keen or in a rush. If you offer X amount, you'll have to get a certain amount of money for yours.

3. If the one you want doesn't sell, they'll prob drop the price, or take your lower offer when you have got a buyer. They won't do that with an offer on it.

Don't view houses if you're going to get emotionally attached.

4. Another point, if you get a buyer, you don't know if they'll have a complete chain below them. You don't want to have to limit yourselves to cash buyers or FTBs.

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ReadingTim

Iamdave wrote: »

yeah understand that, wouldn't want to put the house on the market if they are unwilling to accept my offer though as putting the house on the market is effectively meaningless too then.

Problem is, they might accept the figure you're willing to offer, but from someone whose property is on the market. In which case you'll still lose.

All I could suggest it to make it clear to the vendor and the EA that if they accept your offer, you'll get your place on the market the moment afterwards - with the same EA. Maybe the chance of a double bit of sales commission may 'encourage' the EA to suggest that the vendor looks more favourably on your offer...

Iamdave

thanks for the replies guys,


going to have a good think about it tonight and maybe plan to have a second viewing with a mate to see if my valuation is on point it's about 5% under asking price so not to cheeky I don't think.


and still need to see if my mortgage company will lend me the extra I'd need to fund the purchase (doubt it would be a problem)

NicNicP

We put our house on the market after seeing a house we liked, but didn't make an offer until we'd accepted an offer on ours.

[Deleted User]

Hi,

can you put an offer on the house, and if accepted, pay, without selling your place first, if so what's the problem?

seashore22

[Deleted User] wrote:

Hi,

can you put an offer on the house, and if accepted, pay, without selling your place first, if so what's the problem?

Where has the op suggested that they are in the financial position to do that?

Only the tiniest percentage of people can afford to do that.

That's the problem.