How soon to put an offer in after viewing?

summerday

Hello,We are going to view a house on Saturday that has only just come on the market and is at a pretty reasonable price. We will be the second lot of viewers (first lot just before us, same day).If we really like the house, we would like to secure it so would want to put an offer in quickly, especially as other people are viewing the same day and we have lost out this way on other reasonably priced houses by taking too long in making an offer. The house is priced at £207k, we would try to offer £200k. Would it be okay to ring a couple of hours after the viewing to offer or should we wait till Monday?Any advice appreciated.

Mac_Sami

I appreciate that you have been beaten to it before by other people making offers, but please don't let the fact other people are looking at the property pressure you into making a quick offer. There is always another property available - and given the slowdown in the housing market, it is a buyer's market.

Have a good look around the property, have a good, long, hard think about it, perhaps sit on it for a couple of days and then make a decision. Consider a low offer, but don't believe the hype about this property being the only dream home there is for you. You will find the right home, at the right price, at the right time.

Also consider how you will finance purchasing the property - mortgages are harder to get, at good rates at least, and there is continued concern over the housing market. This should not put you off (nor is that my intention), but these are things to consider when deciding on an offer price.

beecher

I don't know if the house has already been heavily discounted, but paying so close to the asking price seems like a bad idea. Don't buy because you're feeling panicked into it - it is a buyers' market and you're making a major purchase so don't rush into making your decision. Wait and see how you feel when you view the house first!

tinkerbell84

A friend had the first viewings on her flat on Saturday morning. Was marketed at £209,995. This is what similar flats have recently gone for and is priced already for a quick sale.

First people to view it loved it (it's spotless) and made an offer of £200k, on Monday morning which they upped to £205k while my friend was considering it. She hadn't even turned the offer down!

They agreed yesterday on £206k, which both sides are happy with. The buyers are happy because a similar flat (not as pretty) would cost them £210k, and my friend is happy because she gets a quick sale.

So don't assume that any offer would be accepted in this 'buyer's market'. Not all sellers are desperate.

summerday

That is sound advice, and I know you are right in that we must not rush into it. The house is actually on the same road where we viewed another house that we loved and it is very similar layout etc. We just want to get the balance of securing the house if it is very similar to the other one, at a good price of course, but not appearing too desperate (or they might think they've priced it too low!) and not leaving it too late so we'd miss out.

trudiha

I viewed a house a couple of weeks ago that was being viewed by another person a couple of hours later. The other person put an offer in as soon as they left the house. The EA called me as soon as he had received the offer to ask if I'd like to better it.

He was a bit of a greasy type so I assumed that he was trying to frighten me into making an offer but as the house is now marked 'sold STC' on Right Move, he must have been telling the truth.

So if someone else does make an offer the EA will be on the phone withing seconds to see if you're willing to make a better one.