PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Should I put in an offer before my second viewing?

Options
My other half and I seem to have been quite lucky in our property search. We've found a house we really like after just a couple of weeks. The right area, close to everything, has all the particulars we wanted. Looks all good in terms of structural integrity,  gas/electric checks, boiler servicing, plumbing. No issues whatsoever in the first viewing.

It's been on the market for just over a month and has been reduced once already. It has apparently had quite a few viewings, but no offers yet. To me this kind of just feels like an offer is due at any moment. And I believe the seller is looking to sell quickly.

We're really excited for it, and we've booked another viewing to inspect everything in more detail. But we are quite ready to put in an offer already, after all it's not legally binding. The offer will be our best one, as we can really only afford about 10% under the asking price, and I don't think we should offer any lower.

However I've googled this topic and a few articles said that it's not advisable to make an offer before your second viewing. I'm not really sure I understand why? If you spot any new flaws at the second viewing you can always reduce your offer or withdraw it.

I guess it would be a bit awkward if the offer gets refused and it was my best one, and then I can't view the property again to spot something else that can help me in the negotiation. But is that risk higher than the risk of someone else making an offer first? Or is there a chance that the seller might see I have a second viewing booked, and refuse my offer in the hopes that my second viewing will convince me to offer more? In fairness I am not that great at negotiating so I don't know all the tactics.

If I could have some input on what the downsides of making an offer before the 2nd viewing are, and what other people would do in this situation, I would really appreciate it!

All the best,
Dean
«1345

Comments

  • davemorton
    davemorton Posts: 29,070 Forumite
    Name Dropper First Post First Anniversary Car Insurance Carver!
    Options
    I have never heard about not putting an offer in until a second viewing, many people dont have a second viewing until a lot further down the line. 
    “Quis custodiet ipsos custodes?”
    Juvenal, The Sixteen Satires
  • housebuyer143
    housebuyer143 Posts: 3,520 Forumite
    First Anniversary First Post Name Dropper
    Options
    I think it sounds indecisive to put in an offer before your second viewing. You either don't have a second right away or you do and you offer afterwards. 
    The seller is probably going to be confused why you are offering but then wanting to see it again and will almost certainly wait until you have seen it again before accepting or refusing said offer. 
  • Deanlangdon14
    Options
    I think it sounds indecisive to put in an offer before your second viewing. You either don't have a second right away or you do and you offer afterwards. 
    The seller is probably going to be confused why you are offering but then wanting to see it again and will almost certainly wait until you have seen it again before accepting or refusing said offer. 
    You make a good point. In truth it's not that we're indecisive at all, it's just that my partner wasn't at the first viewing (which I should have probably mentioned but the post was already too long.)

    The other reason is that we just want to make extra sure everything is okay before we spend money on surveys and legal fees. But we also want to be the first ones to offer. I see what you mean though and I understand why the seller might be confused by all that.
  • MFWannabe
    MFWannabe Posts: 2,044 Forumite
    First Anniversary First Post Name Dropper Combo Breaker
    Options
    When is your next viewing? If you have this booked I would say even if there was an offer seller isnt likely to accept until you or anyone else have viewed 
    Second viewings show you’re keen 
    31/03/24:  Debt total £12,400/13,192.13
  • Deanlangdon14
    Options
    MFWannabe said:
    When is your next viewing? If you have this booked I would say even if there was an offer seller isnt likely to accept until you or anyone else have viewed 
    Second viewings show you’re keen 
    It's for 3 days from now.

    Seems like there are others who agree with you on that. Thanks for your input!
  • mi-key
    mi-key Posts: 1,581 Forumite
    First Post Name Dropper First Anniversary Combo Breaker
    Options
    If you can only afford 10% under the asking price you may be stretching yourself a bit far 
  • babyblade41
    babyblade41 Posts: 3,938 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    If you have done all your due diligence before viewing then why not, unless you are going in really low then nothing to lose if you are serious 
  • Emily_Joy
    Emily_Joy Posts: 1,265 Forumite
    First Anniversary First Post Name Dropper
    Options
    It is perfectly fine to put an offer forward subject to a second viewing. I would also advise to add any other conditions (e.g. subject to a survey, a request that the viewings are stopped and the property is taken of market, etc).
  • Deanlangdon14
    Options
    Emily_Joy said:
    It is perfectly fine to put an offer forward subject to a second viewing. I would also advise to add any other conditions (e.g. subject to a survey, a request that the viewings are stopped and the property is taken of market, etc).
    That's very good advice, thank you!
  • lika_86
    lika_86 Posts: 1,779 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Options
    Emily_Joy said:
    It is perfectly fine to put an offer forward subject to a second viewing. I would also advise to add any other conditions (e.g. subject to a survey, a request that the viewings are stopped and the property is taken of market, etc).
    If I was selling and the offer was conditional upon everything being ok after the second viewing, there's no way I'd stop viewings or take the property off the market. I think that's a push as an ask, unless your offer is genuinely a brilliant one above asking.
Meet your Ambassadors

Categories

  • All Categories
  • 344.3K Banking & Borrowing
  • 250.5K Reduce Debt & Boost Income
  • 450.2K Spending & Discounts
  • 236.4K Work, Benefits & Business
  • 609.9K Mortgages, Homes & Bills
  • 173.6K Life & Family
  • 249.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards