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Increasing offer?
Firsttimebuyer2021
Posts: 80 Forumite
Hi everyone, We finally viewed a house and put an offer in. It’s home report value is £130k so we offered £135k knowing we need £13k deposit for mortgage and then the extra £5k over will come out our own pocket as well however the property has now went to a closing date and we are now thinking about putting another higher offer in on the closing day. I just feel like we are giving this extra money away however at the same time it’s a house I believe we could stay in for a very long time...Any opinions??
Mortgage Starting Balance - £158,000.00
Mortgage Outstanding - £157,271.91
Term Left - 39 Years / 10 Month
Mortgage Outstanding - £157,271.91
Term Left - 39 Years / 10 Month
0
Comments
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Offering higher doesn’t always guarantee you securing the house! I learnt that last week! Vendors tend to look at people’s situations, (from my experience). If you’re a FTB, with nothing to sell, have a pity story, you are more likely to get the property. Don’t throw away ££ especially as the market is beginning to cool!1
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@RoseGold2021
Thank you for your comment, Iv decided to leave the offer as it stands and will see what they say at closing dateMortgage Starting Balance - £158,000.00
Mortgage Outstanding - £157,271.91
Term Left - 39 Years / 10 Month1
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