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Final offer
dantheram1985
Posts: 80 Forumite
hi all,
i've been bidding on a house which in july last year was listed at OIEO 325 and was reduced to OIEO 300 only this week, having received 0 offers in 6/7 months of its entire listing.
I initially bid £275 and have recently had £280 rejected - with the vendor stating they want 300, where do you think the 3rd, and likely final, offer should pitch?
i've been bidding on a house which in july last year was listed at OIEO 325 and was reduced to OIEO 300 only this week, having received 0 offers in 6/7 months of its entire listing.
I initially bid £275 and have recently had £280 rejected - with the vendor stating they want 300, where do you think the 3rd, and likely final, offer should pitch?
0
Comments
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as much as you want to pay for itHonest? Probably......sort of.0
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Given the place hasn't had any offers in 6/7 months, the vendors are clearly in no hurry to sell, but have indicated a price (£300k) at which they might.
If you're willing and able to pay £300k and want the place, I'd suggest that amount - final offer, take it or leave it. You could try £290k but not say final - leave the door open for a little bit more negotiation and you might sneak under their bottom line.
Ultimately though, you're getting towards the time where your upper limit is reached, and ultimatums need to be made. So however you get there, be it in one or two more steps, you need to get to the amount above which you're happy to walk away.0 -
Why will your 3rd offer be the final one. In time the vendors may concede a little more. As spring approaches activity will pick up in the markets.0
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Thrugelmir wrote: »Why will your 3rd offer be the final one. In time the vendors may concede a little more. As spring approaches activity will pick up in the markets.
How many incremental offers below what you're looking for would you entertain before you write someone off as a timewaster?!?0 -
ReadingTim wrote: »How many incremental offers below what you're looking for would you entertain before you write someone off as a timewaster?!?
yep - this is why i don't usually persist after making 2/3 offers.0 -
They'll likely be thinking that if dropping the price to 300k has generated interest and offers straight away, then 300k is about the right number, for them.0
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Thrugelmir wrote: »Why will your 3rd offer be the final one. In time the vendors may concede a little more. As spring approaches activity will pick up in the markets.
Not this Spring.0 -
Crashy_Time wrote: »Not this Spring.
You said that last spring. And the spring before. And the spring before that.
How did those predictions work out for you?0 -
How much do you want the property?
How much can you afford?
How does the price compare to other local similar sales (not asking) prices?
If you did not get the property after offering, say, 290 and it then sold for 300, would you be kicking yourself?
If you bought it for 300, would you spend the next 5 years wishing you'd paid less?0 -
ReadingTim wrote: »How many incremental offers below what you're looking for would you entertain before you write someone off as a timewaster?!?
I'd simply back off for a while. If the property still doesn't sell then the vendors may revise their expectations. Meanwhile I'd be monitoring the market still.0
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