Just had first offer rejected, could do with input please

fiddling_flower_petals

Have you asked when their new build is expecting to be complete, use this to gauge how much time they have to wait round for the right offer.

Personally I'd offer £137,500,( make it seem you've not just added another £2k but have scraped around for additional £500) says its more than your budget but your serious about purchasing, make sure it known that you're FTB

If next offer is rejected, a small cooling of period for you and vendors for some reflection, usually ups the game.

Good luck and hold your nerve

Daft_Pegasus

Two things here strike me as worthy of being highlighted.

1- They have dropped the price by nearly 10% already
2- They have marketed it with multiple agents. Usually you only go to multiple agents after a period of sole agency - often about 3 months if my memory serves me correctly (it was a long time ago)

Both of these factors indicate a seller desperate to sell. All they've done so far is standard house buying practice, the buyer puts in an offer below what they willing to pay, the seller rejects the first offer because they know the seller has put in a low offer.

If you can stand your ground I think you'll get a offer close to your current offer accepted, but it's difficult when you find the right house for you. Personally I'd always go back to the estate agent who you placed the offer with and asked for viewings on other houses, let the agent raise the subject of your current offer with you and then reitterate all the positives about your offer, mortgage offer in place, no chain, willing to complete ASAP, etc.

The worst case scenario is that someone comes along and puts in a higher offer. The agent will tell you about it and you have a chance then to increase your offer.