Putting in a low offer

AdrianC

lookstraightahead said:

Slithery said:

[Deleted User] said:

It probably won't work in this market but I'd like to pitch it as best I can. FTB with no chain, mortgage approved in principle

Being a FTB is a disadvantage, not an advantage. I'd just say that you are 'chain-free' instead.

It depends how you look at it. Someone had to be bottom of the chain. 

I don't see FTB as anything different from chain free. 

Just look at the threads here from FTBs panicking about trivialities, for a clue as to why.

As for a £280k offer on an OIEO £300k property unseen... Not a hope.
Why would anybody even consider offering at all on a property they haven't seen?
Why would a vendor consider such a lowball from somebody who hasn't seen it?
Almost a guarantee of a future fall-through.

letsbetfair

AFF8879 said:

It depends where it is and what type of property it is; e.g. for a 1 bed flat in London I’d say it’s a perfectly reasonable offer, a 2-3 bed house in a nice area of the Midlands/North etc would be a completely different story.

I’d be far more concerned about offering on a property you haven’t viewed. If I was the seller, unless I was desperate to sell and had no other offers on the table, I wouldn’t take you seriously as a buyer.

Agreed - you're unlikely to be taken seriously as a buyer until you've viewed the place. Presumably if you're not happy with it when you view, you'll just withdraw the offer.

Best approach would be to say to EA that the top of your budget is £280k (or whatever you want to say) and ask if this might be accepted. You could say you're asking because of the long journey to view. If the EA gives the thumbs up, you can then view the place and offer if you like it.

Greymug

[Deleted User] said:

Other thing is we haven't seen it and it's an 8 hour round trip so don't really want to go unless that are considering us.

Apart from the house, have you even seen the area given it's 4 hours away?

Buying a house you have never seen in an area you've never been to is a recipe for disaster.

Racky_Roo

why don't you ask for a virtual viewing with an agent calling you via facetime? Or do you have family near who could go and view and facetime you whilst there and talk through it? I had to do it a few times as I was moving over 100 miles away and my area was in lockdown. If you like it via facetime then you make the trip, if not, you've saved time and petrol

Irishpearce26

You need to research how much they bought it for if possible. Rightmove and zoopla can show you recent sale prices. If they paid about £270/80k for it a few years ago i doubt they entertain that offer. Also the amount they are looking for could be based on what they are buying.

Usually if a house is marketed offers in excess off it means they want the £300k or more and wont go lower.

AAZ

I will not put an offer without seeing house ... picture can be so deceptive!!!
Any sensible seller will not accept an offer from someone who has not even bothered to come and see the property.
As a seller you are not just looking at offer price but also how likely the sale is going to go ahead, nobody wants to be in the same situation after 3 months !!

Monsternextdoor

Mine would not accept a offer unless we viewed it, so I sent my mum  

Then they accepted my offer- Although my dad is a builder and worked on similar houses that I put the bid on and knows the construction of them like the back of his hand

Exodi

[Deleted User] said:

It's been on the market about a week. These days they don't hang around.

It's hard to go see things but anything we can afford is at least 3 hours drive away. I'll make it clear that if the vendor accepts and wants to move quickly we will view just to make sure we are happy.

Don't over-complicate this - call the estate agent, tell them your circumstances and ask if the seller would consider offers of £280k, they could probably tell you on the spot. If they would, book a viewing, see the house and then make an offer if it's appropriate.

I can't see the buyer liking how you're coming across. You shouldn't make an offer on a property you haven't viewed - it would be hard to take your offer seriously and I think it's very unlikely the vendor will accept with any other buyers in the wing. You're also tying your offer to a condition of 'should you accept my offer, I'm still entitled to rescind it after viewing' - this isn't really an offer at all, just a messy way of trying to 'reserve' the property with no commitment.

For what it's worth, my property was listed 2 years ago at OIEO 325k, I bought it for 290k.

AFF8879 said:

I’d be far more concerned about offering on a property you haven’t viewed. If I was the seller, unless I was desperate to sell and had no other offers on the table, I wouldn’t take you seriously as a buyer. Especially when you offer below asking.

Agreed

Exodi

AdrianC said:

lookstraightahead said:

Slithery said:

[Deleted User] said:

It probably won't work in this market but I'd like to pitch it as best I can. FTB with no chain, mortgage approved in principle

Being a FTB is a disadvantage, not an advantage. I'd just say that you are 'chain-free' instead.

It depends how you look at it. Someone had to be bottom of the chain. 

I don't see FTB as anything different from chain free. 

Just look at the threads here from FTBs panicking about trivialities, for a clue as to why.

This and generally FTB'ers ironically feel entitled and empowered by their position, so end up making unreasonable demands on price and time-frames.

I'd actively avoid FTB'ers where possible.

grandadgolfer

If its a house in a sought after area I wouldn't bother wasting your time