Anyone just offered their maximum price straight off?(17 Posts)
Been looking for a 3 bed house is a certain area for coming up 2 months (not long I know but feels like a lifetime as 30 weeks pregnant and living in the inlaws spare room with DH and 2yo DD!).
Had an offer accepted on one place but pulled out this week due to issues on the survey combined with a number of restrictive covenants on the property.
We have viewed all two 3 beds in the area, even those which don't match our basic criteria! Looking at one of the remaining houses tonight and will probably end viewing the last one out of desperation!
I am really losing any appetite for messing about with offers, counter offers etc. etc. and just want to decide what we are willing to offer (if we ever find a house!) and put that offer in.
Probably not the sensible thing but has anyone else just taken this approach and would the EA actually believe us when we said it was best and final? We're generally offering 5% - 6% off asking price on properties in the £159 - £165k range.
I am not sure I would to be honest. People expect to haggle and may think you are "just saying that" and there is a couple of extra grand in the pot.
We made a "best offer" as our first, knowing it might be rejected but also believing it is the best they'll get so we'll leave it on the table (they haven't been on the market long). I don't care whether the EA believes us initially, it will become obvious quite quickly that we are not going to increase it - but then nothing around here is moving very quickly and we're in no hurry (renting a nice house), so less willing to waste time on playing games!
Thanks for the replies.
Not sure the house we saw today was a go-er so just going to take a weekend off from worrying about it!
It does sometimes feel like there is way too much game playing in this house buyer / selling process
We offered our maximum offer fully believing that the vendor will reject it (£25K below asking price) and it was accepted! However we were prepared to walk away and carry on searching.
I think that the vendor was keen to sell and we are keen to buy - a case of being in the right place at the right time. Plus we are renting and have nothing to sell so that must have played a major factor in her decision to sell the house to us
It doesn't help that I struggle with offers that I feel are too cheeky so don't bother even considering somethign that has asking price over a certain percentage above our budget.
In theory we are 'dream' buyers though - we are living with family, have the money for our full deposit and associated fees immediately available, have solictors ready to go and have a mortgage offer. Just need to find something to offer on now!
We offered our maximum from the off in the house we now live in. Generally I probably wouldn't, but it was considerably beyond our price range (only viewed it as the agent persuaded me to) and anything significantly lower just seemed stupidly low. We offered our top whack, explained the situation - i.e. that it was the top of our price range, so our final offer, and our position (no chain).
We were fully prepared to walk away if they said no....that really was the maximum we could spend at the time.
We have just bought our first house and we did the same as pootlebug.it was slightly above what we could afford even after a price drop but we explained to the vendor we really wanted the house but the offer was our absolute maximum.vendors came back and said it was lower than what they really wanted but as we were ftb's with a mortgage offer in place and weren't messing about playing games and haggling they would accept our offer.good luck.xox
Yes - I suspect that you are in a position where you know your local market extremely well. We house hunted for 12+ mths before a house came up in the right location at the right price. We offered the asking price an hour after our initial viewing on the 2nd day it had been on the market (bearing in mind that 3 offers had already come in after the 1st day of viewings and it was the first time in 40 years that the house had come on the market and rarely on that particular road!). We were no chain and in rented and had viewed enough properties to know which roads we wanted to live on. The house itself was far from perfect - we had to basically gut it and renovate it completely it but the location/plot was fantastic. We could see the potential (and so could everyone else) so we didn't get a bargain but we feel that we were lucky that it didn't go to sealed bids on this one! In a previous house purchase, we have managed to buy at 90% of the asking price so it all depends on knowing your market. I was feeling fed up and was starting to look at other locations but I am so glad that we waited for the right house - it has been so worth the stress/hassle!
we are in the process of selling dps house for probate. Had the full asking price offered straight off by family in similar situation. they particularly wanted the house, which needs gutting totally but they are very happy because its the right place for them. since had numerous notes through letterbox and other enquiries from families who have heard house is empty (its never been on the market,so no board etc). family also reassured us that they wouldnt barter on the survey because they will be renovating totally (and have been as good as gold on that).
Choose your dream area and put a letter through the door of all the three bed houses in those streets stating that you have nothing to sell, have mortgage in place and are keen to buy. You never know but you may get to buy a house that isn't even on an estate agents books yet and get to deal directly with the vendor ... no mucking about.
I would tell the EA that you want to buy now and what you will pay, ask him to speak to vendors before viewing, including some above your budget, and only view if they would accept what you can pay. You might find some that will sell at a lower price because they want a quick sale.
yes we did on our current house. We also offered the full asking price. We knew that it was the house we wanted, vendor wanetd to sell, we wanted it taken off the market and so decided not to mess about. Best thing we ever did as i would never have got the hosue had we not done so and we live in a part of the country where house prices are not falling
There is no point insisting on a 5-6% price drop. We did that for 6 months in 2009 and got us no where. At the same time, I was watching sold prices on the house registry and how fast they move off the market from rightmove. Turned out most of them in the area we were looking at sold at near asking price. You know your area better than anyone on this board. Only you know if the price is reasonable. And remember 2009 was a very slow year, probably comparable to now.
We viewed a house on the market for £125k, but we had an agreement in principal for £100k. We offered the £100k and explained our situation. Offer was accepted. Came to survey and valuation and house was worth £100k so was marketed at 25% more than it was worth. Paid a fair price for it.
Thanks for all the answers, still looking for the elusive house so we can ctually get to the offer stage again!
Just to explain, we are not insisting on a 5-6% price drop. We have a mortgage offer in place for a certain amount and can't really increase it - this is the figure we are going up to, it's just that in most cases it hasn't been the same as the asking price.
babaandbump we ended up compromising on location. Just couldn't afford where we wanted to be in.
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