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  • FIRST POST
    • JadeLouise
    • By JadeLouise 9th Aug 18, 12:39 PM
    • 21Posts
    • 10Thanks
    JadeLouise
    What do i counter offer
    • #1
    • 9th Aug 18, 12:39 PM
    What do i counter offer 9th Aug 18 at 12:39 PM
    hi,
    we put in an offer on a house yesterday for 135,000, its up at 149,000. The vendor bought at the end of 2014 for 115,000.

    The EA have just rung to say vendor wants minimum 145,000.

    Thats our max and I feel going straight to accepting that may be silly. Parents are saying go back at 140,000 , i think offer 142,000.

    ANY HELP ?!??!!
Page 1
    • marcmc84
    • By marcmc84 9th Aug 18, 12:47 PM
    • 37 Posts
    • 18 Thanks
    marcmc84
    • #2
    • 9th Aug 18, 12:47 PM
    • #2
    • 9th Aug 18, 12:47 PM
    Estate agent will tell you any old crap and lies - don't trust them. Offer what you think the property is worth then walk away. Id go to 140 and give some reasons why you think the price is justified. They will try to get more out of you as they work for the seller.
    • JadeLouise
    • By JadeLouise 9th Aug 18, 12:56 PM
    • 21 Posts
    • 10 Thanks
    JadeLouise
    • #3
    • 9th Aug 18, 12:56 PM
    • #3
    • 9th Aug 18, 12:56 PM
    Thats what i thought. I suppose it is all a game. We really like the house but at the same time are not willing to pay overpriced.

    The house needs a bit of work, its a victorian terrace. The last house to be sold on the same row was in 2016 for 127,000 and has had more work done.

    House prices in the area are around the 140,000 price mark. I would hate to sound rude with my coun
    ter offer.
    • campbell19925
    • By campbell19925 9th Aug 18, 12:58 PM
    • 135 Posts
    • 173 Thanks
    campbell19925
    • #4
    • 9th Aug 18, 12:58 PM
    • #4
    • 9th Aug 18, 12:58 PM
    I would hate to sound rude with my counter offer.
    Originally posted by JadeLouise
    Be as rude as you want! Only offer what you think its worth and certainly don't offer more to save face or look polite.
    • ellectrastar
    • By ellectrastar 9th Aug 18, 1:06 PM
    • 54 Posts
    • 8 Thanks
    ellectrastar
    • #5
    • 9th Aug 18, 1:06 PM
    • #5
    • 9th Aug 18, 1:06 PM
    Don't worry about offending anyone with your counter offer - after all, you weren't worried when you offered lower at the beginning!



    What's the market in your area like? Some areas, and some certain types of properties, are really popular, in which case you sometimes have to just bite it and pay the extra. Depends on how much you like the place, and how long you're planning on staying there.



    Definitely don't trust the EA though - they will be your best friend when you speak to them but at the end of the day all they're worried about is their cut, and the more they persuade you to pay, the more they get. They will lie about figures and other interested parties - it's just to try and make you feel pressured. Do what feels right to you, and if they don't take it sack it off and find something else.
    • Cakeguts
    • By Cakeguts 9th Aug 18, 1:41 PM
    • 4,717 Posts
    • 6,911 Thanks
    Cakeguts
    • #6
    • 9th Aug 18, 1:41 PM
    • #6
    • 9th Aug 18, 1:41 PM
    The EA are working for the seller so they can say anything to you.
    • mije1983
    • By mije1983 9th Aug 18, 1:52 PM
    • 3,543 Posts
    • 20,081 Thanks
    mije1983
    • #7
    • 9th Aug 18, 1:52 PM
    • #7
    • 9th Aug 18, 1:52 PM
    The EA have just rung to say vendor wants minimum 145,000.
    Originally posted by JadeLouise

    You'll find out if that is true or not if you offer 140k/142k and the EA tells you no straight away without even consulting the vendor. In that case, the the vendor has told them not to entertain offers below x.

    • Linton
    • By Linton 9th Aug 18, 1:52 PM
    • 9,569 Posts
    • 9,780 Thanks
    Linton
    • #8
    • 9th Aug 18, 1:52 PM
    • #8
    • 9th Aug 18, 1:52 PM
    You have made an initial offer and received the answer of 145K. This must have come from the vendor. Dont believe the guff that EAs always tell lies to increase the price. Their interest is in getting the house sold ASAP so that they can focus on other properties, a few % on the commission is marginal.

    After the initial sparring it is time to stop dancing around and get down to business. Do you really want the house at around 145K? If so you need to come in with an offer near to 145K. 145K will definitely close the sale, 142K may close the sale, 140K or less has a greater risk of the vendor saying 145K again and perhaps someone else coming in with another offer.

    On the other hand if you just want the house if you can get it cheap. I suggest you offer perhaps 137K to show willing and when they say no leave the offer on the table and look elsewhere. You may be lucky and the vendor comes back to you in a few months time having failed to sell to anyone else.
    • JadeLouise
    • By JadeLouise 9th Aug 18, 3:26 PM
    • 21 Posts
    • 10 Thanks
    JadeLouise
    • #9
    • 9th Aug 18, 3:26 PM
    • #9
    • 9th Aug 18, 3:26 PM
    Went back with an offer of 142k. We are ftb with everything ready to go, not even renting so dont even have to worry about that. Hopefully this is in favour of us, then again, I understand depending on the vendors position, they may not care about that.
    • PokerPlayer111
    • By PokerPlayer111 9th Aug 18, 5:23 PM
    • 285 Posts
    • 94 Thanks
    PokerPlayer111
    I feel like if you give reasons why you make an offer you just sound more desperate or give the EA ways to BS you.
    • MysteryMe
    • By MysteryMe 9th Aug 18, 6:59 PM
    • 1,910 Posts
    • 2,312 Thanks
    MysteryMe
    Be as rude as you want! Only offer what you think its worth and certainly don't offer more to save face or look polite.
    Originally posted by campbell19925

    I don't agree with this mindset.

    The OP wants to be seen as credible and a decent person to do business with. They may find they are up against others who have offered similar. Honey gets you far further than vinegar.

    The OP should offer what they are comfortable with but the offer still needs to be within the bounds of credibility.

    From what the OP has posted I think they have their head screwed on and I hope they have their offer is accepted if this is the property they really want.
    • Trixsie1989
    • By Trixsie1989 9th Aug 18, 7:56 PM
    • 444 Posts
    • 456 Thanks
    Trixsie1989
    Be as rude as you want! Only offer what you think its worth and certainly don't offer more to save face or look polite.
    Originally posted by campbell19925
    Completely agree with this! We went in low with ours, went up slightly and it's now back at our original offer after survey!
    Buying a house is effectively a business transaction, be as cheeky/rude with the offer as you like, they will only accept or decline
    Debt free finally
    First house purchase ... 2018
    • McKneff
    • By McKneff 9th Aug 18, 8:34 PM
    • 36,096 Posts
    • 46,523 Thanks
    McKneff
    Dont agree with being rude. If buyers were rude to me, i would be telling them so and also not to bother re offering cos i just now wouldnt sell to them, full stop, but thats just me. Politeness is free
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • JadeLouise
    • By JadeLouise 9th Aug 18, 9:04 PM
    • 21 Posts
    • 10 Thanks
    JadeLouise
    Thanks everyone for your input

    Naturally I am a very shy person so this whole process has been very daunting to me. It took me ages to pluck up the courage to put in an offer at all. Sounds silly really, but if it weren't for my current living situation, I would have just not bothered with the fear of buying. I must say I have learnt a lot in this very short amount of time.

    Despite being nervous, I pride myself on being polite and patient. Hence why I said about not wanting to sound rude ; what I meant was 'cheeky'. I appreciate the seller of course wants as much money as possible and what they value their house as both emotionally and financially affects this.

    As a first time buyer who's only ever lived at home and no one I know owns a house, its a bit scary. I only have the internet to go by really, and my broker i suppose
    • AnotherJoe
    • By AnotherJoe 9th Aug 18, 9:13 PM
    • 10,148 Posts
    • 11,424 Thanks
    AnotherJoe
    Went back with an offer of 142k. We are ftb with everything ready to go, not even renting so dont even have to worry about that. Hopefully this is in favour of us, then again, I understand depending on the vendors position, they may not care about that.
    Originally posted by JadeLouise
    Hopefully you let them know that ?
    • JadeLouise
    • By JadeLouise 9th Aug 18, 9:56 PM
    • 21 Posts
    • 10 Thanks
    JadeLouise
    My god I wish i knew how to quote on mobile !
    Yes we have let them know where we stand
    • MysteryMe
    • By MysteryMe 9th Aug 18, 10:45 PM
    • 1,910 Posts
    • 2,312 Thanks
    MysteryMe
    Thanks everyone for your input

    Naturally I am a very shy person so this whole process has been very daunting to me. It took me ages to pluck up the courage to put in an offer at all. Sounds silly really, but if it weren't for my current living situation, I would have just not bothered with the fear of buying. I must say I have learnt a lot in this very short amount of time.

    Despite being nervous, I pride myself on being polite and patient. Hence why I said about not wanting to sound rude ; what I meant was 'cheeky'. I appreciate the seller of course wants as much money as possible and what they value their house as both emotionally and financially affects this.

    As a first time buyer who's only ever lived at home and no one I know owns a house, its a bit scary. I only have the internet to go by really, and my broker i suppose
    Originally posted by JadeLouise
    It is daunting but don't be frightened by the process, most of us on this thread will have gone through it unscathed. You just need to be organised and patience is definitely a virtue because some parts of the process are out of your hands so it is pointless getting stressed out over it.

    if you don't understand comments from a surveyor or something your solicitor has said ask them for clarification. There is a saying "the only stupid question is the question that is never asked"

    Don't ever think acting professionally and politely is a sign of weakness. It isn't. Any moron can be rude. Much of the buying process is dependant on other people, especially if there is a chain. Having the goodwill of others can go a long way.
    • Trixsie1989
    • By Trixsie1989 9th Aug 18, 11:25 PM
    • 444 Posts
    • 456 Thanks
    Trixsie1989
    Thanks everyone for your input

    Naturally I am a very shy person so this whole process has been very daunting to me. It took me ages to pluck up the courage to put in an offer at all. Sounds silly really, but if it weren't for my current living situation, I would have just not bothered with the fear of buying. I must say I have learnt a lot in this very short amount of time.

    Despite being nervous, I pride myself on being polite and patient. Hence why I said about not wanting to sound rude ; what I meant was 'cheeky'. I appreciate the seller of course wants as much money as possible and what they value their house as both emotionally and financially affects this.

    As a first time buyer who's only ever lived at home and no one I know owns a house, its a bit scary. I only have the internet to go by really, and my broker i suppose
    Originally posted by JadeLouise
    Have you got a copy of the mse first time buyers guide? You can download it rather than having a printed copy but I have found it invaluable
    Debt free finally
    First house purchase ... 2018
    • M2808
    • By M2808 10th Aug 18, 10:17 PM
    • 25 Posts
    • 20 Thanks
    M2808
    Sometimes its worth saying XXX,XXX is my limit but I'm happy to leave that offer on the table if you want to come back to me. Within a week I got the offer accepted at the price I wanted. Of course there is the risk of losing the house, which I did the first time but I think the second one is better anyway.
    • Crashy Time
    • By Crashy Time 12th Aug 18, 9:09 PM
    • 6,355 Posts
    • 2,406 Thanks
    Crashy Time
    35k profit on their house in just over three years with rising interest rates and Brexit looming might just be pushing it IMO. You should walk away, there will be plenty more houses for you to buy, and probably cheaper.
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