Asked for best offer on house (Scotland)

bitsandpieces

I've offered on a house in Scotland - a good bit below asking price and Home Report valuation (as it hadn't sold for some while). The EA has come back to me asking for an offer about mid-way between my offer and asking, which is still too high for me. When I said this was too high, but I may be able to raise my offer, they asked for my best offer.

In England, I'd make an offer that's less than the max I'd be happy to pay at this point - to leave a little room for negotiation. Would the same approach be sensible here, or should my best offer genuinely be my best offer? There's no other interested buyers as far as I know, and certainly no closing date in place.


In terms of background, I'm looking to agree a price with the seller/selling agent - my solicitor's suggestion was to do this, and then make a formal offer through them if successful. I think this is an unusual situation as I'm offering at more of a discount from the HR valuation than typical...but buyers don't seem to want to pay anything like this price.

I do really like the house, but it's towards the top of my budget - so anything I can shave off the price will leave me more money for furnishing it, for unexpected stuff cropping up, and to continue to enjoy luxuries like holidays... I'd love to be able to buy it, but won't be devastated if I can't.

davidmcn

bitsandpieces wrote: »

In England, I'd make an offer that's less than the max I'd be happy to pay at this point - to leave a little room for negotiation. Would the same approach be sensible here, or should my best offer genuinely be my best offer? There's no other interested buyers as far as I know, and certainly no closing date in place.

If they don't like your next offer, they're unlikely to go off in a huff and refuse to have any further discussions with you (assuming there's still no other interested parties) - so I would still leave room for negotiation.

glasgowdan

Just make the best offer you're willing to pay and let them know you won't be increasing it. That may well be the offer you've already made, though you've told them you will offer more which isn't ideal!

googler

bitsandpieces wrote: »

I'd love to be able to buy it, but won't be devastated if I can't.

So just make your offer at a level you're happy with, and state it's your best and final, and if not accepted, will be withdrawn and no further offers or negotiation will be forthcoming ....

bitsandpieces

Thanks! So it's best to go in with what is genuinely my final offer, rather than leaving room to raise it further?

I was expecting to have to raise my initial offer (I'd left room for negotiation with this), but may just offer a couple of percent more.

ProDave

In Scotland a formal offer is drafted by your solicitor along with all the conditions of the offer. So it is unusual for it to keep going back and forth many times. You usally informally agree what would be acceptable first.

Another usual thing is a time limit, along the lines of "this offer is open for acceptance until....." so they can't just sit on it and decide a month later to accept it.

glentoran99

bitsandpieces wrote: »

Thanks! So it's best to go in with what is genuinely my final offer, rather than leaving room to raise it further?

I was expecting to have to raise my initial offer (I'd left room for negotiation with this), but may just offer a couple of percent more.

If you go in with another offer and tell them its your best offer then they aren't really going to believe you when the next offer you make is really your final offer


As above make the offer for what your willing to pay and its up to them to take it or leave it