How much to bid to clinch deal?

Sistergold

If a place is truly perfect best is to do what it takes to just get it. I know there are those who say don’t overpay BUT what is overpaying really? If you don’t get it there is the emotional pain and regret. Being close to family in a perfect house perfect location does not come so many times. So even over the £320k will be okay funds permitting ofcause. After 2 years you would have recovered from the overpayment. Good luck

buythedip

Based on your descriptions I’d do whatever it takes for it not to go up for sale. Trying to negotiate for a few grand is fine as long as you’re comfortable with the consequences.

Edit to add: if they’re moving for health reasons of a parent then perhaps there is more urgency than they’re letting on?  

ironlady2022

Sistergold said:

If a place is truly perfect best is to do what it takes to just get it. I know there are those who say don’t overpay BUT what is overpaying really? If you don’t get it there is the emotional pain and regret. Being close to family in a perfect house perfect location does not come so many times. So even over the £320k will be okay funds permitting ofcause. After 2 years you would have recovered from the overpayment. Good luck

Yeh i just need to get over the over paying! 

ironlady2022

buythedip said:

Based on your descriptions I’d do whatever it takes for it not to go up for sale. Trying to negotiate for a few grand is fine as long as you’re comfortable with the consequences.

Edit to add: if they’re moving for health reasons of a parent then perhaps there is more urgency than they’re letting on?  

That's a very good point as Sharon told me on the side that the Dad doesn't have long. And the couple spoke about getting a house with an annex for the Mum. I asked them in an ideal world, would they move this or next year to gage. And they said this year and asap! 

Sistergold

mayling03 said:

Sistergold said:

If a place is truly perfect best is to do what it takes to just get it. I know there are those who say don’t overpay BUT what is overpaying really? If you don’t get it there is the emotional pain and regret. Being close to family in a perfect house perfect location does not come so many times. So even over the £320k will be okay funds permitting ofcause. After 2 years you would have recovered from the overpayment. Good luck

Yeh i just need to get over the over paying! 

The alternative is bidding wars and sealed bids. It’s better to deal with an EA who seems sympathetic. Once they think you are serious they are likely to keep process together to completion. Apparently house buying process has gone up a notch in terms of stress and I still found it stressful to buy  before covid. What you need is not have it put into the market. 

ironlady2022

Sistergold 

The alternative is bidding wars and sealed bids. It’s better to deal with an EA who seems sympathetic. Once they think you are serious they are likely to keep process together to completion. Apparently house buying process has gone up a notch in terms of stress and I still found it stressful to buy  before covid. What you need is not have it put into the market. 

Thank you so much for this. It is not obvious until you say it out aloud! You are right, I would be bidding on others if not this one. And so I'm in a unique position.

Moving house is assistant top 10 stress! So this makes it even worst! 

TripleH

The key points are :

1. Your brother lives there so the house has more value to you than it might to someone else.

2. Factoring the cost of that house and the value you'd get for your house, can you afford the property at the price you are comfortable offering?

There are other considerations I'm sure but the above 2 are the main ones.

If you're happy to proceed, I'd get your house on ASAP as whilst your potential sellers may be relaxed, that will only last so long before the risk they go elsewhere increases.

ironlady2022

Update:

I've got direct call with Vendor tonight at 6pm.

Sharon told me the situation is they are viewing a house on Wed and they've had an up to date mortgage review too. 

The contract has been issued to them to sign with William H Brown today. Valuation date is imminent

What other questions can i ask other than below? 

Tell them I would like to offer on the house, and just wanted to get their thoughts on their next steps. 

When do you get your valuation? 

Will you share with me? 

What would it take for you to not put up on the open market? 

I can confirm by email our discussion. 

Have I missed anything? 

UnderOffer

@mayling03 have you listed your house yet? 

Once you’ve made your position clear to them, then they can decide whether to consider your offer and proceed with you or test the open market. I think they may go with the latter, especially if their home is as desirable as you say. 

ironlady2022

Update : Spoken to them, valuation is £320k. Asked if that was in line with his expectations, yes he said £315-£320k. He seemed to be very accommodating and happy to skip Agents on his side.

So I need to think on it. But initial thoughts are, over at £315k. And up it up £316k as I'm both scenarios he would save on 1% fees plus vat which would get him to £320k mark.