Is this a sales tactic ?

masjntt1977

Herzlos said:

masjntt1977 said:

Thank you everyone - we went to view and it was everything I thought. 

We really like it - there were several people viewing.
Agent told us the owner is looking for a quick sale and won’t accept anything below the asking price 

Lots of thinking to do now - the wait between now and Monday is going to feel a very long time 😱

If the owner wants a quick sale then why are you waiting? They may take the first good offer they get, and if you are a cash buyer that's chain free you're in a pretty good position.

What you want to avoid is another chain free buyer making an offer for the same amount first and it being accepted.

Hi

The agent said offers were to be submitted by Monday so I assume that to mean if I offer tomorrow that my offer won’t be forwarded to owner or considered until Monday ??

Bigphil1474

MultiFuelBurner said:

Grizebeck said:

Gavin83 said:

MultiFuelBurner said:

(From your other thread) Just goes to show many don't give a flying fig about EPC's still doesn't it.

People on this forum go on about the EPC like it's the most important aspect of a house but I think the reality is the vast majority of people don't even care.

To the OP, I don't think it really matters when you submit your offer. If the house is clearly this popular it's entirely possible it'll go over asking. Just have a think about what you're willing to pay and then offer at that. Don't play games and don't over offer. If you stick to what you want to pay and you don't get it at least you'll know there was nothing else you could do.

Exactly I don't two hoots about an epc. Those who care are nieve 

I would suggest age of property and EPC means you can get a good idea of energy costs especially if you frequent these boards.

We would certainly choose modern construction and insulation building regulations over an early 1980's house and earlier especially with energy costs as they are. (Unless we fancied burning pound notes)

The comparison is our 180sqm house 8 years old EPC B costing in the region of £1800 in the last year versus next door 1960's EPC E 110sqm costing in the region of £3000 a year.

We live in a 1910 mid terrace and our heating payments were £1,200 for the last 12 months, and we're £800 in credit (including the £400 govt. give away), so really only used £800 of energy. Roughly 150sqm. We haven't got an EPC yet, but suspect it will be a D rating. Those prices were on an old fix, but on current prices it would still only be about £1,500 of actual usage. Maybe your neighbours like it hot. The EPC ratings aren't that useful other than it does give you an idea of potential improvements, and some comparison between 2 similar houses.

MultiFuelBurner

Bigphil1474 said:

MultiFuelBurner said:

Grizebeck said:

Gavin83 said:

MultiFuelBurner said:

(From your other thread) Just goes to show many don't give a flying fig about EPC's still doesn't it.

People on this forum go on about the EPC like it's the most important aspect of a house but I think the reality is the vast majority of people don't even care.

To the OP, I don't think it really matters when you submit your offer. If the house is clearly this popular it's entirely possible it'll go over asking. Just have a think about what you're willing to pay and then offer at that. Don't play games and don't over offer. If you stick to what you want to pay and you don't get it at least you'll know there was nothing else you could do.

Exactly I don't two hoots about an epc. Those who care are nieve 

I would suggest age of property and EPC means you can get a good idea of energy costs especially if you frequent these boards.

We would certainly choose modern construction and insulation building regulations over an early 1980's house and earlier especially with energy costs as they are. (Unless we fancied burning pound notes)

The comparison is our 180sqm house 8 years old EPC B costing in the region of £1800 in the last year versus next door 1960's EPC E 110sqm costing in the region of £3000 a year.

We live in a 1910 mid terrace and our heating payments were £1,200 for the last 12 months, and we're £800 in credit (including the £400 govt. give away), so really only used £800 of energy. Roughly 150sqm. We haven't got an EPC yet, but suspect it will be a D rating. Those prices were on an old fix, but on current prices it would still only be about £1,500 of actual usage. Maybe your neighbours like it hot. The EPC ratings aren't that useful other than it does give you an idea of potential improvements, and some comparison between 2 similar houses.

You can use this link as well to combine house type (mid terrace can benefit from heat either side) to show historic energy usage for any property in the UK. It's an average sometimes over many years but still an indicator. 

https://www.moneysupermarket.com/store/gas-and-electricity/enquiry/

So type of house/age
EPC
Historical usage

All good indicators when buying imo when used together. 

I understand just EPC can be useless without other statistics of course but gathering all available free information should imo be used when offering and purchasing a property.

Herzlos

masjntt1977 said:

Herzlos said:

masjntt1977 said:

Thank you everyone - we went to view and it was everything I thought. 

We really like it - there were several people viewing.
Agent told us the owner is looking for a quick sale and won’t accept anything below the asking price 

Lots of thinking to do now - the wait between now and Monday is going to feel a very long time 😱

If the owner wants a quick sale then why are you waiting? They may take the first good offer they get, and if you are a cash buyer that's chain free you're in a pretty good position.

What you want to avoid is another chain free buyer making an offer for the same amount first and it being accepted.

Hi

The agent said offers were to be submitted by Monday so I assume that to mean if I offer tomorrow that my offer won’t be forwarded to owner or considered until Monday ??

The agent will probably notify the seller of any offers as they are made. They'll review all of the received offers at a given point on Monday and pick one, with any offers made after the deadline being ignored.

There's no benefit in you waiting until Monday to submit an offer unless you're hoping the agent will hint at what others have offered.

user1977

Herzlos said:

masjntt1977 said:

Herzlos said:

masjntt1977 said:

Thank you everyone - we went to view and it was everything I thought. 

We really like it - there were several people viewing.
Agent told us the owner is looking for a quick sale and won’t accept anything below the asking price 

Lots of thinking to do now - the wait between now and Monday is going to feel a very long time 😱

If the owner wants a quick sale then why are you waiting? They may take the first good offer they get, and if you are a cash buyer that's chain free you're in a pretty good position.

What you want to avoid is another chain free buyer making an offer for the same amount first and it being accepted.

Hi

The agent said offers were to be submitted by Monday so I assume that to mean if I offer tomorrow that my offer won’t be forwarded to owner or considered until Monday ??

The agent will probably notify the seller of any offers as they are made. They'll review all of the received offers at a given point on Monday and pick one, with any offers made after the deadline being ignored.

There's no benefit in you waiting until Monday to submit an offer unless you're hoping the agent will hint at what others have offered.

The benefit for the OP is that it gives less opportunity to the agent to hint to other bidders about what the OP has offered.

Standard advice in Scotland (where closing dates are more common) is to submit the offer at the last minute to avoid any such shenanigans.