Increase offer? Grateful for advice

dannyboycey

uphillstruggle wrote: »

Ok I will take your advice and wait for them to phone me even though it is very nerve wracking!

As a first time buyer I am new to this and your advice is so helpful and reassuring thanks for taking the time to reply!

Keep us posted

chappers

As a first time buyer you really have the upper hand I would stand your ground just say you are unwilling to increase your offer and leave it at that, if they come back to you before you find another property , then consider buying.
Don't believe a word the EA says he is probably trying to squeeze that extra bit of commission.
Remember there are plenty more fish in the sea

brit1234

I would put in a £10,000 less now. Its clear to see the market is tumbling back to normality. There will be many months/years of falls.

uphillstruggle_2

An update......
The Estate Agent called me back today, the vendor had rang them to ask if I had increased my offer. I told the Estate Agent that our offer was still the same considering the current climate and the fact we are first time buyers with mortgage in principle. She rang the vendor and then called me back 2 mins later to say the vendor definitely wont accept. So now Im playing a waiting game.......

cattie

Well at least you know you had the owner fretting enough to ring the ea to ask whether you'd offered more.

Lets hope your continued silence quickly drives them to submission.:p

Doozergirl

They called! Vendor is worrying. This evening, they will be discussing whether they would be able to accept any less than they were saying.

I'd ask them to consider the absolute minimum they would accept. Say that you will have to beg borrow and steal any extra from family and the full £5000 just isn't happening right now, they will have to compromise further.

Keeps dialogue open but the ball firmly in their court which is where you want to keep it as much as possible to keep that pressure on!

So exciting!

poppy10_2

Yep. The pressure is all on the vendor. Don't buckle!

chappers

Stand your ground the EA may just be trying to push you to up your offer.

pamaris

Yes, this is how the game is played. I would keep looking around. If after a week they have still not accepted, and you are dying for the house, offer an extra 2k or whatever.

I know it is soooo hard. I just hope that I stick to my guns when the time comes for me to buy. I can do it with a car, but that is over in 2 hours.

Edit: Whatever you do, wait at least 2 more days before you call/ cave!

uphillstruggle_2

I will wait as long as I possibly can... Im in a meeting from 11 today and then until lunchtime tomorrow so that should stop me caving for a bit!

I may give in on Fri morning though but arent offering any more the £145k because we need money left over for solicitors costs and removal fees if they dont accept that then we will have to forget it. Before offering the £145k I will ask the EA to make sure they definitely wont reconsider our offer of £142,500.

I will keep you posted, thanks for your help!