how do we make sure we get this house?

seabiscuit_2

we have seen a house we really like for £169k, now our limit is realistically 160k

the house is new to the market, BUT we have sold ours subject to contract and they have already seen a house they want to buy

we were also informed by local estate agents that its a buyers market around here

so how can we make sure they accept our offer?

would you offer 155k and then when they refuse reoffer 160k and say its our final offer?

we really want to review it too - but dont want to appear too eager

hopefulfooluk

I'd start at 145k and work up. You are in a good position - use it!

Fairdo_2

seabiscuit wrote:

we have seen a house we really like for £169k, now our limit is realistically 160k

the house is new to the market, BUT we have sold ours subject to contract and they have already seen a house they want to buy

we were also informed by local estate agents that its a buyers market around here

so how can we make sure they accept our offer?

would you offer 155k and then when they refuse reoffer 160k and say its our final offer?

we really want to review it too - but dont want to appear too eager

Short of leaving a Horses head in the bed, there is no guarantee that you could make on offer they can't refuse.

Best way to get the offer accepted would be to offer the asking price (even though that does not guarantee that someone else won't come in with an offer they'd prefer.

Otherwise, I would personally offer the maximum figure I could afford and would be prepared to pay for that home.

That is the best way of getting a higher chance of acceptance.

It really depends what area you are in and how the Agent has valued the house as to what offer they are likely to take.

Your best port of call would be to speak to the Agent or Vendor and be honest with them. Say that you are keen on the property, but cannot exceed X price and are in a good position to buy. They may accept the offer based on trusting you and knowing your buying position.

Personally, in my area, if I'd offer as low as mentioned in the thread, I reckon most Vendors would not take me seriously in any further negotiation.

It could be different in your area.

If you buy in Scotland, you would have to be serious about your offer price, as it becomes binding when accepted.

Doozergirl

If you really can't afford anymore, and you really love this house I would lay your cards on the table. Offering £155k is very low. It's possible you could upset them and make them believe you are playing a game. I wouldn't risk upsetting them - try your hardest to be befriend them and just be honest.

I think your best bet is to give them your full and final offer, play your strengths (complete chain) and hope for the best. If they have found a house they want, they may well accept, providing the price doesn't affect their ability to buy.

Good Luck!

seabiscuit_2

thanks - ive had a hunt around the net and found another similar one on the same estate was selling for 10k less - and that sold last week, and another similar one sold in april for 20k less - so i figure they are slightly over priced compared to these

dave_on_the_save

If your maximum price is 160k then offer around 153k (10% below) and work your way up. At the end of the day its a game, they have found a house they like and if they can get 10% off the asking price of that its swings and roundabouts.

At the end of the day they may be as desperate to get into the house they have seen as you are into theirs. The starting price of 153 does not lay all your cards on the table at once

Also if their property has not been on the market long, sometimes the agents will try and help the deal by cutting their commission (its worht speaking to them anyway)

Just my thoughts

HTH

Dave

Woby_Tide

make sure teh agent is aware of your position, if they pass on the offer of say £153k but add that you've already sold subject to contract, can move(relatively) quickly etc. etc. that sometimes lends more weight than a £155k offer with someone still waiting to find a buyer for their property, especially if the seller has also found somewhere they wish to buy as they can then do the same as you and state they have a buyer

mini

Our house is currently for sale with a gossipy estate agent who keeps saying she can't say what offers are, the next sentence out of her mouth details the offer, sales are proceeding at around 10% less than the asking price & houses are finally moving. If you are buying in the same locality as you are selling may be worth asking your estate agents opinion on true value of the house you are interested in. In your position I'd gone in a little lower than you can afford then if that is refused state your maximum price & make sure the estate agent tells vendor it is your final offer, even if you have to sit in estate agents & wait for them to ring! Even if they refuse initally they may reconsider a few days later, good luck

margaret_3

Fairdo wrote:

If you buy in Scotland, you would have to be serious about your offer price, as it becomes binding when accepted.

Not correct!
Nothing is binding until missives are exchanged! An offer can be withdrawn at anytime until then.

seabiscuit_2

well we offered 160k because there was another interested party and the offer was rejected outright :-(

thanks anyway

Fairdo_2

margaret wrote:

Not correct!
Nothing is binding until missives are exchanged! An offer can be withdrawn at anytime until then.

Thank you Margaret.

I stand corrected.