Opening offer help

Ultimatum

Evening all,

We’re looking to take the next step on the property ladder and upscale. Our current home was a new build so there wasn’t any negotiating. We’re interested in this: (https://www.rightmove.co.uk/property-for-sale/property-72487725.html) and so are a lot of people according to the estate agent (open house fully booked within a few hours). I’m trying to find out if they’re accepting more viewings and if anyone made offers today. 

If we manage to get a viewing we’re going to attempt at making an offer. We’ve emailed our estate agent to get on the market , we were just being nosey previously but really like this house at the moment. We’ve got MIP ready so we know what our budget is. 

What would you suggest as an opening offer on this? Thanks in advance 😊. 

[Edit] It won’t let me post the link. You’ll have to copy and paste it yourself , sorry. 

happy_2008

Its interesting to see Gravesend open house fully booked with a couple of days. I live in a nearby town and looking to put my 2 bed on the market soon!

iwb100

Open house usually means the owners want a quick sale - do you have an offer on your property? I don’t know the market down there but looks a house that will be in demand and if you really want it given you are a mortgage buyer....might need over asking price offer. I’ve been to 7 open house viewings put in 5 over asking price offers and never once ‘won’. Lost out to cash buyers 4 times and the other one was top of my budget and someone just went well above so I’m told.

Ultimatum

happy_2008 said:

Its interesting to see Gravesend open house fully booked with a couple of days. I live in a nearby town and looking to put my 2 bed on the market soon!

I’m putting it down to the pandemic. Limited numbers in comparison to ‘normal times’? 

Ultimatum

iwb100 said:

Open house usually means the owners want a quick sale - do you have an offer on your property? I don’t know the market down there but looks a house that will be in demand and if you really want it given you are a mortgage buyer....might need over asking price offer. I’ve been to 7 open house viewings put in 5 over asking price offers and never once ‘won’. Lost out to cash buyers 4 times and the other one was top of my budget and someone just went well above so I’m told.

Ours isn’t on the market yet. We purely were being nosey in getting ours valued etc etc. Then this came up and it’s like hands to the pump scenario. I know we’re odds on to lose out but interested in people’s opinions. 

happy_2008

We are having an open day but not because we are desperate to sell but more for convienience. Also, with all viwers in one go we can clean the house straight after

getmore4less

more like this 3miles for sale/SSTC
price...4bed...5+
0-400 30/37 4/3
0-425 33/40 4/4
0-450 40/51 5/4
0-475 44/56 6/4
0-500 48/64 7/5
0-max 78/94 20/19
425-475 15/18 2/1
that's a decent sample(33)  to gauge the pecking order of the one you are looking at  and a few 5 beds to look at
seems a lot are priced 450-475   but the for sale/SSTC ratio are balanced so could be a lot of people looking but not many ready to buy
what does the market look like for your sale.

also have a look through the sold data

Ultimatum

getmore4less said:

more like this 3miles for sale/SSTC
price...4bed...5+
0-400 30/37 4/3
0-425 33/40 4/4
0-450 40/51 5/4
0-475 44/56 6/4
0-500 48/64 7/5
0-max 78/94 20/19
425-475 15/18 2/1
that's a decent sample(33)  to gauge the pecking order of the one you are looking at  and a few 5 beds to look at
seems a lot are priced 450-475   but the for sale/SSTC ratio are balanced so could be a lot of people looking but not many ready to buy
what does the market look like for your sale.

also have a look through the sold data

Thanks for this. I’m a little confused by your numbers. I’m assuming it’s Price , can’t guess the middle numbers then those for sale/SSTC.  

lesalanos

For me, the EA are unlikely to accept or forward any offer as you are not proceedable at this point 

steve866

lesalanos said:

For me, the EA are unlikely to accept or forward any offer as you are not proceedable at this point 

I have previously had an offer accepted where my property wasn’t under offer as has a family member so it does happen; but I agree they aren’t in a great position.

If you really like the property and are certain interest is high (stick around before and after your viewing to see how many others come) your best bet is to offer asking price is very close. I would also be tempted to tell the selling agent that you will list with them if your offer is accepted, that way your offer becomes “we have a buyer in a great position who has offered the asking price, we are selling the property ourselves so we know it will sell quickly based on what it is selling for” as opposed to one the agent might discourage. 

Ultimatum

steve866 said:

lesalanos said:

For me, the EA are unlikely to accept or forward any offer as you are not proceedable at this point 

I have previously had an offer accepted where my property wasn’t under offer as has a family member so it does happen; but I agree they aren’t in a great position.

If you really like the property and are certain interest is high (stick around before and after your viewing to see how many others come) your best bet is to offer asking price is very close. I would also be tempted to tell the selling agent that you will list with them if your offer is accepted, that way your offer becomes “we have a buyer in a great position who has offered the asking price, we are selling the property ourselves so we know it will sell quickly based on what it is selling for” as opposed to one the agent might discourage. 

Great advice RE listing with them etc. Thank you 😊.