When to Make an Offer?

keithmdw

OK, we are going to look at an appartment on Saturday afternoon. We definately like the looks from the outside and the pictures we have seen of the inside.

The agent has told me (not sure how true) that someone else is viewing the property 30 minutes after our appointment.

Now we are obviously not going to show willing with the agent even if we love it, but if we do like it and after a chat on-site decide we want to make an offer, would it be sensible to do it there an then? And try to get in before the other viewing, or will they not do that if the other viewing is real?

Or would you go away and leave some time before making an offer? Is it bad practice to make one there and then if happy?

safesound

I would say not to make an offer there and then.
My husband and I were recently house hunting and found a property that was great on paper. It was exactly what we were looking for, it wouldnt have even needed decorating. I viewed it and liked it, so I booked a viewing for my husband and when he saw it he liked it too... so we made an offer there and then (100K on 110K prop). Unfortunately the estate agent was rather rude and insisted they had another offer but wouldnt say for how much, so we went to 104K and they agreed.
We discussed it on the way home and both seemed pleased but over the next few days the rot set in and we both started picking holes (kitchen too small, Garden needed tidying, carbon copy estate etc). Needless to say before the week was out we had contacted the EA and told them we were sorry but that we'd changed our minds.

The moral of the story; what seems ideal on the spur of the moment isnt necessarily ideal in the long term. Chew it over for a few days, then if you still like it as much *then* make an offer. Dont be put off by the "other viewing" as I honestly believe that in allot of cases the EA create them to prompt you into making a quick decision.

Side note: We've now bought a property that we're both much happier with and it couldnt be more different to the first, which btw is still on the market, so much for the other offer eh?

cattie

I agree with safesound, it's best to at least sleep on a decision. It's a buyer's market now, so there is no need to have to make a snap decision in case the property is snapped up by another viewer, which is how things were 2 or 3yrs ago. If you really do like the property, be sure to arrange a 2nd viewing just to enure it really is the place for you. And as your initial viewing is in the daytime, try to make a 2nd viewing during the evening as this will give you a better idea of whether you are likely to be affected by such things as noisy neighbours or traffic.

bridiej

When we bought this house it was on the strength of one viewing, but then my husband new the road well as he had lived nearby for most of his childhood.

definitely worth consideration - even if you dont sleep on it give it a few hours to think it through and discuss it.

good luck

Sput2001

Definitely give it some time - sleep on it at least and go for a second viewing the following day. Have you got a provisional agreement on a mortgage and a solicitor lined up?

Doozergirl

Putting an offer in straight away won't stop the next viewers from putting in an offer. In fact, it may panic them into making one too. Block viewings are great for stirring up competition. Stay calm! If it's meant to be, it will be (easy for me to say I know!)

I agree you should go for a second viewing before putting in an offer.

bridiej

Plus the fact agents love to play the "there's someone else viewing who's really interested" card...