How much to bid to clinch deal?

nicknameless

mayling03 said:

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. 

madness IMO.  Valuation £320k.  They'd keep it off the market and you want it.  Just offer £320k.

TXC

Getting into playing silly beggars over a couple of grand will result in you losing this house. Trust me. 

Offer 320 and get it secured. You're talking about the equivalent of a 1.3% reduction remember

propertyhunter

There is nothing to think about at this point. Offer £320k and be done with it. You're only torturing yourself if you don't get it by arguing over a few grand. 

TheJP

You are trying to save yourself his fee costs, if you want it and for it not to be put on the market then pay what the valuation says its worth and get on with it. I idea of having first dibs is you meet the valuation before anyone can beat you to it, not for YOU to save 1% on valuation.

BikingBud

mayling03 said:

Hi

Went to see a house in an estate where My brother lives last week. It was a private viewing set up by Sharon. She lives on estate and works for an Estate Agent. She also is friends and neighbours with the vendor hence I got first glimpse.

Sharon sold the exact same house opposite in Nov 2021, went on for guide price £290-£300k and sold for £300k, survey came back at £300k too.

The market has moved on and when I visited the house, they had not got it valued. They will do as a next step. The last valuation was March 2021 at just over £300k.

Sharon values it at £315k. And the house Sharon lives in is bigger, with an extra utility and 4 double rooms instead of 3 doubles and a single room. Her valuation came back around £335-£340k. So in my mind, it should not be worth more than £335k.

The vendors have said if we agree a number, they will not put it on the open market. Sharon reckons the vendors will want to try the open market at £320k to get as much as possible if they go down that route. 

The vendors are a young couple, and her Dad is in ill health, wishing to move nearer to her Parents, but they are not in any rush.

My position is, ideally I want to be in area by Jan 2023 to apply for primary school for my daughter. So again no rush but with covid, everything is taking a long time. 

We both have desirable houses to sell, it's a matter of how much.

My question is, what shall I put my opening bid for? My budget is £360k at its max but it really is the perfect house. South facing garden, great layout, can move straight in, house is only 2yrs old so in great condition.

I'm thinking £310k as a serious offer, and increase to £315k as a final offer. I can do £320k but still deciding if it's worth it. I do think it is...

Obviously survey may come back otherwise. 

So what is Sharon getting from this? Is she moonlighting and offering her estate agent "skills" for free or is their some payment as yet unmentioned? And who is covering it?

And perhaps I missed something but a lot of the other stuff is just background noise. A house is for sale, you're interested and the price to you seems good?

Yet you are not even in the starting blocks, you will only know how desirable and easily you can sell your house when you market it.

ironlady2022

TheJP said:

You are trying to save yourself his fee costs, if you want it and for it not to be put on the market then pay what the valuation says its worth and get on with it. I idea of having first dibs is you meet the valuation before anyone can beat you to it, not for YOU to save 1% on valuation.

Yes this makes sense and I got out wrong before. Thank you. Yes seems like £320k is way to go. Just thinking of they then ask for more... 

ironlady2022

BikingBud said:

mayling03 said:

Hi

Went to see a house in an estate where My brother lives last week. It was a private viewing set up by Sharon. She lives on estate and works for an Estate Agent. She also is friends and neighbours with the vendor hence I got first glimpse.

Sharon sold the exact same house opposite in Nov 2021, went on for guide price £290-£300k and sold for £300k, survey came back at £300k too.

The market has moved on and when I visited the house, they had not got it valued. They will do as a next step. The last valuation was March 2021 at just over £300k.

Sharon values it at £315k. And the house Sharon lives in is bigger, with an extra utility and 4 double rooms instead of 3 doubles and a single room. Her valuation came back around £335-£340k. So in my mind, it should not be worth more than £335k.

The vendors have said if we agree a number, they will not put it on the open market. Sharon reckons the vendors will want to try the open market at £320k to get as much as possible if they go down that route. 

The vendors are a young couple, and her Dad is in ill health, wishing to move nearer to her Parents, but they are not in any rush.

My position is, ideally I want to be in area by Jan 2023 to apply for primary school for my daughter. So again no rush but with covid, everything is taking a long time. 

We both have desirable houses to sell, it's a matter of how much.

My question is, what shall I put my opening bid for? My budget is £360k at its max but it really is the perfect house. South facing garden, great layout, can move straight in, house is only 2yrs old so in great condition.

I'm thinking £310k as a serious offer, and increase to £315k as a final offer. I can do £320k but still deciding if it's worth it. I do think it is...

Obviously survey may come back otherwise. 

So what is Sharon getting from this? Is she moonlighting and offering her estate agent "skills" for free or is their some payment as yet unmentioned? And who is covering it?

And perhaps I missed something but a lot of the other stuff is just background noise. A house is for sale, you're interested and the price to you seems good?

Yet you are not even in the starting blocks, you will only know how desirable and easily you can sell your house when you market it.

I'm gonna give Sharon my business. I'm not sure how Sharon will take it the Vendors don't go with an estate agent. Sharon works at one branch and had advised them not to go to her branch anyway cos it's not in the area. She can't control what they do. 

jonnydeppiwish!

You have to bid what you believe it is worth to you

ironlady2022

Hi All, I've penned the following email - how does it sound please? I want to make myself look attractive as possible and friendly, and cooperative as I would if we agreed a sale.

Hi xxx, xxx

Thanks for the chat on Tuesday evening, it was good to catch up and understand where your heads are at.

I’ve had a good think about everything we’ve discussed up til now and if you are able to agree to keep it off the market, based on the valuation that you mentioned, I would like to formally offer you the full valuation price of £320,000 to purchase your property.

I’m happy to deal directly with you both, so no requirement on your part to sign with an Estate Agent to sell, thus you saving on your fees. I also prefer it as it makes it easier to keep each other up to date along the process and resolve any issues quickly, should they arise. I believe our short-term goals are well aligned, in that we are both willing to be patient with each other given our different personal circumstances, but also happy to press the button and go ahead with pushing the sale through as fast and as smooth as possible.

If you have any questions for myself, please feel free to ask and I will be happy to answer any concerns.

Let me know your thoughts. 

Regards

xxxx

ironlady2022

Just bumping my thread for the last comment.