How much justification should I give when making an offer?

Bookgal88

This is going to be quite long, so TIA for reading!
I viewed a house yesterday that I'm considering putting an offer in on. I have owned a property before, but it was S/O, so I've never been through the offering part of the process before. So my question is two-fold I guess: how should I present my offer, and how much justification should I give for it when I present it to the EA?
I know the EA will call me tomorrow to get feedback after the viewing. My plan is to have a quick chat with him and then say I'll send my offer over in an email. It just feels more formal, and IMO there is less chance of any key info getting lost in translation. Is this sensible?
Now onto the property itself. The house I viewed is on a nice looking road, close to a station, the town centre and the seafront. It has good kerb appeal, but the owners have lived there for about 15 years and done nothing with it. It needs a new kitchen, new bathroom, some of the UPVC windows have blown and so they need attention, the carpets upstairs are in bad condition and need removing/replacing, and the whole place needs a good clean and a lick of paint. 
3 other houses sold on the road in 2020 for between £300k and £320k. All were better maintained than this one, which is on for £335k. When I viewed yesterday, I told the agent that I felt it needed quite a lot of attention. He said that's what most of the other viewers had said, and that the sellers didn't think they'd have any interest (it had an open day yesterday with around 14 viewings). 
I'd like to put in an offer of £300k, so about 10% below the asking price. I think the £335k AP is pretty spicy, given what other houses on the street have achieved. The market is very buoyant in the are I'm looking to buy, and properties are selling within a week of being listed, so it's very unlikely I'll have the chance to view this property again. For that reason, I've tried to budget a decent amount for the work to be done, plus a bit extra in case of any surprises. I'm porting a mortgage from the property I sold, so I'd need to complete by the end of September to avoid paying my ERC and to take advantage of the SD situation. So I'd want to make completion before the end of September a  non-negotiable condition of my offer. But how much (if any) of the information that I've bolded should I include when I submit my offer? Or will the EA just present my number to the buyer with no additional information, and they'll take it or leave it? I'll also reaffirm my other "benefits" when I submit my offer (motivated, chain-free, healthy LTV, AIP from lender).

Cakeguts

You don't need to make any justification.  Just offer what the house is worth to you and the owner can either accept or reject it.

lonibra

OP - I don't think it makes any difference to the majority of vendors and Estate Agents.

Definitely highlight pros like chain-free, have an AIP, have an MB, have a solicitor ready to instruct, etc. if applicable.

GDB2222

I know some people feel they have to justify any reductions to the vendors, but I think it's counter-productive.

You are effectively saying that the kitchen the vendors have been happily living with is not good enough for you. That's an insult, made worse by your asking the vendors to pay for the improvement to bring it up to a standard you can bear to live with. 

Just make your offer, and don't add insult to injury.

SpiderLegs

You know your non-negotiable completion date, how are you going to enforce that?

AdrianC

Bookgal88 said:

So I'd want to make completion before the end of September a  non-negotiable condition of my offer.

It's a lovely aspiration, but what happens if it's missed? You walk?

Another vote here for the only thing that matters being the number.

Ashworks

I agree, all of the things you have raised (apart from the windows) are cosmetic issues which are easily resolved, and pointing these out is only going to make the owners less sympathetic to your offer. They could quite reasonably argue that the valuation has taken them into account already as they are obviously visible. Just make the offer and they can either accept or decline.
I also think a 'non-negotiable' completion date coupled with a lower than asking price offer does not make you an attractive option in a busy market, so you might need to be prepared to increase your offer. Prices have gone up in many areas since last year.

[Deleted User]

You are offering 10% less, give it a go by all means but dont expect to talk someone into that when prices have risen since last year.

Mickey666

Bookgal88 said:

So I'd want to make completion before the end of September a  non-negotiable condition of my offer. 

You can certainly make that a condition of your offer but I don't think there's any point because you can't control any of the many variables involved in a single house purchase, never mind if there is a chain involved.
Until contracts are exchanged there is nothing binding on any of the parties involved so even if the vendor accepts your 'non-negotiable condition' what are you going to do if they fail to meet it? 
You can't force them to meet the condition and you can't sue them if they fail to meet the condition so it's really just a statement of intention.  
The only thing you would be in control of is your own decision to either stick with it or walk away.

As for giving a long list of reasons to justify whatever offer you wish to make, that's up to you.  But think about how you would feel about someone doing the same to you.  Would you REALLY be interested in the reasons for an offer price?  Why would a stranger's reasoning be of any interest?  The only thing that matters is how much they are willing to offer.  Everything else is irrelevant in practice.

LAD917

I was in a similar situation to you with my recent purchase.  In addition to the points you mention (chain free, eager and able to move quickly, AIP with strong LTV), I do think it's worth emphasising that you're realistic about the condition of the house and do not intend to ask for reductions or credits after a survey.  We have quite a number of threads on this board about people asking for reductions, etc. post-surveys.  Many of them believe they are entitled to reductions for the types of plainly visible things you mention.

My current place needs a lot of work, yet the estate agents marketed it as in "great condition."  Some of the defects are only obvious to a more trained eye -- meaning, a proportion of buyers would do a survey and likely come back with a laundry list of items.  They'd be justified in doing so because the property was marketed as in "great condition," which it isn't.  (I'd not even say it's in good condition.)  When we got stuck in negotiations, I held firm on my price but re-emphasised that I was comfortable with the condition, as-is, and would not be doing a survey or asking for any reductions.  It worked for me.  The vendors had three offers - full ask from an unproceedable buyer who hadn't yet sold their home, a low offer from a cash buyer, and mine (chain free, small mortgage, no survey).  My final price was a lot closer to the cash buyer price than the asking price.

eddddy

You should include any info with your offer that makes you a desirable buyer, for example...

• You've no property to sell, or your current property is under offer or whatever
• You've got a large deposit (if that's the case)
• You've got a mortgage AIP
• You're ready to move forward quickly

Some sellers might also be influenced if you say some positive things about their house - assuming the EA passes on your comments. For example, if you say it's charming, it has a lovely garden etc - the sellers might be happier about 'handing over their much-loved home of 15 years' to you.

Before offering, you should find out more about the seller's plans for moving on - so you can assess the likelihood of completing by September.

For example, if they need to find somewhere to buy and haven't started looking yet - and they don't seem like very dynamic people - that may make September completion difficult.

But if they have a place lined-up and are desperate to move - that's more hopeful.