Preparing to make an offer as first time buyers

ReadySteadyPop

TheJP said:

OK so a few questions;

1. How did you arrive at the £20k less than asking price offer? You need to back it up.
2. FTBs are not the market controllers anymore, if anything many sellers dont want to sell to FTBs. (this is dependent)
3. Sure make an offer but if its very low, a seller may not want to entertain any further offers (tyre kicker scenario)

 1. You don`t need to back anything up, you can just say Take it or Leave it if you want, how this goes over will depend       on if they have any other offers or how serious they are about selling.
 2. Lenders (via FTB`ers) control large portions of the market because so many chains have a FTB or someone who           needs to borrow, sellers can try to be picky if they want but in many cases this will just lead to No Sale.
 3. If you are viewing multiple properties, and following price reductions on an app like PropertyLog it isn`t a big deal,         you can always view another house, the seller might not find another buyer for a long time because numbers of             property for sale is very high at the moment.
    

Maahes

I offered £10k (5%) under the OIEO price after speaking to the EA during the viewing. Didn't give any reason, offer was accepted the next day. Could probably have gone lower but the house ticked every must have and would like to have and was £50k lower than any other similar size and type of property in the area (quirky layout according to the EA). I'd hate to have lost it for what is in end not much money.