Giving myself the best opportunity at closing date.

sheramber

My son'd flat was valued at 140k He received an offer of £163k . 

As my son was happy with that price he did not go to a closing date.

[Deleted User]

@sheramber That's a great offer. There has been quite a lot of interest in the property I'm offering on so I think the sellers want to see how much they can get for it. I offered more than the seller told me he wanted, but it was rejected (or at least, not accepted) and they have more viewings this week. I'd love to offer an amount that will ensure they take it off the market, but at this stage, it seems a closing date is inevitable.

sheramber

It is up to the seller whether it goes to a closing date. 

the house I bought went to a closing date as there were 5 viewers over the first weekend. ( where I bought houses were going to a closing in days of advertising)

But there were only two offers submitted at the  closing date.

Not everybody wants to enter into blind bidding.

[Deleted User]

sheramber said:

It is up to the seller whether it goes to a closing date. 

the house I bought went to a closing date as there were 5 viewers over the first weekend. ( where I bought houses were going to a closing in days of advertising)

But there were only two offers submitted at the  closing date.

Not everybody wants to enter into blind bidding.

This is good to know. The sellers have taken the advice of the agents to take it to a closing date, given the amount of interest they have had. As you mentioned, this was within days of the house being advertised. As it's all blind, it can make it very difficult to know what to submit, as I don't want to pay over the odds, but I also don't want to risk it going to someone else (which, of course, is very possible). 

jennifernil

My daughter and SIL had this dilemma 4 years back when offering on a property in a very popular area.  Their solicitor's advice was to offer what they could afford and were comfortable with.  

Their offer was just over 4% over home report, which was already a very large number, so as much as they could afford.    There   were 3 offers in the end, the highest one was almost 8% over home report, but theirs was accepted as they could move quickly and be flexible over the entry date as they did not need to sell their existing property first.

You are in a good position not having anything to sell, so stress that point.

[Deleted User]

Thanks @jennifernil, this is good to read! I will be offering almost 30% over the HR value, so I really hope I'm in with a chance, in addition to having no chain. It's more than I would like to offer, but I also have a situation whereby I need to get out of my rental property so I think the extra is worth it to avoid having to find a new place to rent. The closing date is next Friday. I am a FTB and very flexible so I have highlighted this on the offer letter, as the seller said this was important. Fingers crossed!