Advice on negotiations please

verytired11

Our dream property just came on the market on Thursday.  I spotted it late on Thursday and telephoned first thing Friday for a viewing.  The agent said he would see when the vendors were free for viewings and then didn't get back to me.  I chased him in the afternoon as I was hoping for a viewing on the Saturday.  He said he hadn't got hold of them but it would more likely be the following Saturday and asking if I could do that day.  He then phoned 6pm Friday saying viewings were on Tuesday, Wednesday and Thursday.  I live 100 miles away (which obviously the agent knows) and am working those days, but because it's the dream property I arranged a viewing on Tuesday anyway and will take a day's leave. 

I have now realised that last weekend we viewed a much more expensive property with the same agent.  So in summary, the agent knows that I am keen on the property and that the property is well below our maximum budget.

Assuming we want to put in an offer after seeing the property, does anyone have advice about the best way to proceed with negotiations to maximise our chances of getting it.  I suspect that there may not be massive interest in the property as it is in a less popular area, but of course in the current climate there will be some interest.  Ideally I would want to agree a price quickly and get them to take the property off the market, but as we may be the first viewers they may want to wait it out a few weeks for a better offer.  Thanks for any advice.

teachfast

Decide what you think it is worth after the viewing. Offer that. Stick to it at all times and tell the estate agent that is your strategy. 

AdrianC

Whether you can afford more or not does not affect how much you are prepared to offer for this.

Obviously, it simply stops you trotting out the "But that's all I can afford!" line. Which would be a lie, anyway. As well as irrelevant where there's multiple bidders.

You just need to decide what the most you're willing to pay for your "dream" is. What's so perfect about it? What does it have that nowhere else does? Why is it cheaper than places you prefer it to?

Of course the vendors want to get the most they can... and that's why they hired the EA. He's only doing his job by trying to raise your bid.

Redwino222

When I recently sold my estate agent mentioned a few buyers had previously bid on houses with them, and in one case had been sale agreed but the sale fell through.

they reported this to me to stress they were serious buyers and had their finances in order.  

I totally understood that they would decide what my house was worth, and just broaden hey bid higher on another property didn’t mean they would view my house in the same way.

verytired11

Thanks - all good points. It makes absolute sense that it's worth what it's worth.   This particular property comes with a bit of land, so quite legitimately it will require capital investment after purchase - hence we can't afford to max out on it. It's funny how much more anxiety provoking and emotional it is putting in an offer on a place you really want, as opposed to a place that will just do.