FTB- Offers in the Region of

Sk1990

JamieJ89 said:

I'd be keen to hear how this ends up OP, I myself am looking at similiar areas (as well as Maidstone and surrounding areas) in the forthcoming few months so this would be really interesting for me..

Good luck.

Thanks! Good luck to you too, will update and let everyone know how it goes.

Spiderroo

You’ve just got to offer what you can afford and hope for the best. Start with around asking but be prepared to offer more if it goes to best and final. 

I’m in Manchester and we haven’t managed to successfully offer on a house so far. We’ve offered on 5 properties in the last few months - they always goes to best and final offers and sell for about 20% over asking for a house in good condition and 10-15% over asking if it needs modernisation. It’s extremely competitive in some areas so it’s worth preparing yourself for disappointment. 

Thrugelmir

What'll you need to offer will be determined by what other viewers decide the property is worth to them. Don't let your heart rule your head. There'll always be another property along shortly is this one doesn't materialise.

Sk1990

Update: Went to view the property and it was great. Asked the E.A what kind of offers were put in and he said someone put in at 325. I made my offer at 320… hoping first time buyer and ability to move quick would win it!
Find out the result on Tuesday, if no luck we keep looking!
Thanks everyone for the advice!

nicknameless

Sk1990 said:

Update: Went to view the property and it was great. Asked the E.A what kind of offers were put in and he said someone put in at 325. I made my offer at 320… hoping first time buyer and ability to move quick would win it!
Find out the result on Tuesday, if no luck we keep looking!
Thanks everyone for the advice!

The estate agent disclosed existing offers?  I'd be delighted if I were that person, not.

Sk1990

nicknameless said:

The estate agent disclosed existing offers?  I'd be delighted if I were that person, not.

I did find that surprising, I just wanted an indication of what had been offered!

Thrugelmir

nicknameless said:

Sk1990 said:

Update: Went to view the property and it was great. Asked the E.A what kind of offers were put in and he said someone put in at 325. I made my offer at 320… hoping first time buyer and ability to move quick would win it!
Find out the result on Tuesday, if no luck we keep looking!
Thanks everyone for the advice!

The estate agent disclosed existing offers?  I'd be delighted if I were that person, not.

Obviously considerable interest and likely to to go to best and final offers. Given it's £10k over asking. The EA will already have a ceiling in mind given the fact that those obtaining a mortgage may struggle to obtain the neccesary finance. 

Noneforit999

JamieJ89 said:

I'd be keen to hear how this ends up OP, I myself am looking at similiar areas (as well as Maidstone and surrounding areas) in the forthcoming few months so this would be really interesting for me..

Good luck.

Depending where in Maidstone, traffic is often an issue. Although you could probably say that about many places.

There are a lot of places South of Maidstone which come up but having to drive through Maidstone itself to get to the nearest motorway would put me off.

FTB_Dan

nicknameless said:

Sk1990 said:

Update: Went to view the property and it was great. Asked the E.A what kind of offers were put in and he said someone put in at 325. I made my offer at 320… hoping first time buyer and ability to move quick would win it!
Find out the result on Tuesday, if no luck we keep looking!
Thanks everyone for the advice!

The estate agent disclosed existing offers?  I'd be delighted if I were that person, not.

As far as I'm aware, they're not allowed to do this are they? 

Flip it on the other side, the estate agent could easily be lying as well.

As long as you have offered what you are happy with OP that's the main thing. Good luck!

TheJP

Sk1990 said:

Update: Went to view the property and it was great. Asked the E.A what kind of offers were put in and he said someone put in at 325. I made my offer at 320… hoping first time buyer and ability to move quick would win it!
Find out the result on Tuesday, if no luck we keep looking!
Thanks everyone for the advice!

Being an FTB isn't an incentive to the seller especially if your offer is £5k lower than an existing offer. The majority of seasoned sellers on this forum always say they avoid dealing with FTBs due to the irrational behaviour due to lack of experience and often unrealistic expectations of buying a house (not all FTBs are like this).