FTBs - how to negotiate this sale?!

Crashy_Time

Quizzical_Squirrel wrote: »

O for a roll of duct tape and a stout chair.

Repairing your tenants toilets again?

glasgowdan

OP, don'd up your offer just now. Wait a couple of days then reply to say your offer still stands. If you're super keen, add 4k or so. Not too much. Show them you are close to the limit of what you will pay.

Lrn__

Wow a lot more responses than I was hoping for so quickly - we're torn between standing our ground or upping our offer to meet in the middle and claiming that is our final offer.

We have seen a fair few properties and this is the only one so far that has ticked all the boxes and suits us well. I'm hesitant to ever use the words 'perfect property' but if I ever did it would be very close - hence why we both would up the offer to try and close the sale down quickly.

From experience (or knowledge) could we wrangle the vendor into closing the sale quickly if we did such a large jump? Obviously not something we would ask the EA as then they would know we have the funds available to do so and offering 15k under would have been a waste of time!

On the other side I completely see why you're all saying to hold off and really hope we can stick with the figure we're at now. My partner is now in between both these options and wants to offer 4k to see if this sweetens being so far below the other two.

Aylesbury_Duck

Ultimately it’s up to you to offer what you think it’s worth to you. The risk with adding anything to your offer so quickly is that it clearly signals your strong appetite for the house and if the seller is shrewd they’ll keep knocking back your offers until you get close to the asking price or whatever they’ve privately decided they’ll accept. You are currently in an auction with yourself. The other offers aren’t genuine if they’re not in a position to proceed.

I still think your strongest card is your ability to proceed relatively quickly. I don’t think you’ve exploited this to its fullest extent yet. Ramping up your offer, even by just a few thousand so soon after your first offer, devalues your strongest card. Sit and wait.

JoJo1978

I agree stand firm and leave your offer on the table. You could perhaps ask the vendors if the other parties are not proceedable in two weeks will they change their mind and accept your current offer. You can also ask the EA to keep you posted of any change in the status of the other parties, to reiterate your keenness.

Lrn__

Hi all,

We've managed to reach a new milestone in negotiations - i think this is that part where EAs try and ramp the sale up and a few little white lies come in. The two original offers on the table still stand with no additional, but suddenly the circumstances of one of the offers is being covered up and they're 'in the same position as us'... our family friend is actually the director of the branch and when we enquired with him nobody in the process so far is a FTB with everything lined up to go :huh:

My partner was very irked by the situation, called the EA and hammered home our position and said he would be available from 3:30 onwards to talk. The EA called multiple times at 3pm, desperate to discuss moving forwards and has now asked us to take our passports, proof of address, proof of deposit and AIP into the office before Friday morning - is this standard practice when an offer hasn't been accepted and is this a good sign or just run of the mill?!

Lrn__

Oh I should stress the EA had also been in touch with us this morning just before we spoke with our friend, asking if we wished to up our offer/what our next step was. My other half didn't call just to tear a strip off anyone although I think he would have loved to:rotfl: