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4 Posts

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
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
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Replies
Juvenal, The Sixteen Satires
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.
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.
Second viewings show you’re keen
Seems like there are others who agree with you on that. Thanks for your input!