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How much to offer??

(14 Posts)
HairyPorter Mon 16-Sep-13 12:42:46

The house is price at £50 below stamp duty threshold. Vendor says she has already had 2 offers of asking price from buyers with chain (she hasn't accepted or rejected either). House has been on the market 4 days! Property in London is hot but I'm not sure it's that hot?!? It's a lovely flat with a garden that backs onto train tracks and I'm sure that'll put off a lot of people. DH thinks we offer 5% below askin price. I think that marks is out as non serious if she's not kidding about the other offers and think we should start at about 3% below asking. Either way final offer would have to be 1.5% below asking as that's what we can afford. Where would you start at? Assuming you loved the place and really wanted to get it?

Lemonandrose Mon 16-Sep-13 12:54:07

I think if you want a house you offer full asking! Depends how much you want it really.

LaurieFairyCake Mon 16-Sep-13 12:59:51

I offered full asking within 10 minutes of seeing it.

You can't fuck about if they've already had 2 asking price offers.

In the end I had to offer 3k more than asking to get it (for fixtures and fittings)

50shadesofmeh Mon 16-Sep-13 13:40:52

I'd come in slightly under at first with a view to going up to asking price

Lucyadams184 Mon 16-Sep-13 14:47:00

If you love the house and can afford the asking price go for it. Sometimes you have to look at how you would feel if you missed out. There is no point messing around.

labelwriter Mon 16-Sep-13 14:51:53

My experience of the London market is that if you love somewhere then offer as much as you can. I know it depends where you are but it's like a feeding frenzy here whenever anywhere half decent comes up.

50shadesofmeh Mon 16-Sep-13 15:10:31

Ah I somehow missed it was London , go in with all guns blazing then

5amisnotmorning Mon 16-Sep-13 15:39:09

Our house is in London an had 5 over asking price offers within 2 days of coming on the market. We also had a number of offers under the asking price including a cash buyer.

I would say that you need to go in at whatever you can offer, stress your position and say that you are going in at your maximum straight away as you want it so much and aren't messing about.

Your tactics in the op only really work in a slightly slower market where the bids aren't at asking price.

5amisnotmorning Mon 16-Sep-13 15:40:19

Oh and our house backs onto a train track and is an ex council house..

WhataSook Mon 16-Sep-13 16:20:23

I'm afriad hairy that the London market is that hot at the moment. You obviously didn't see my previous thread where I mentioned that in 3 years the cost of my type of house (end of terrace, 2 up 2 down) in a grotty part of SW has risen £60,000.... shocking re

WhataSook Mon 16-Sep-13 16:23:29

whoops, lost 'really' from that end of that sentence!

LazyMonkeyButler Mon 16-Sep-13 16:28:31

It sounds like you need to offer the asking price if you want to secure the house.

I wouldn't assume that she was lying about the other two offers. In her position, I would keep my house on the market until the best possible Buyer (i.e. chain free or cash buyer) came along too.

HairyPorter Mon 16-Sep-13 16:35:01

Sorry should have said we're chain free. I feel we need to offer asking price too... DH disagrees as he's the type to haggle! hmm

OneStepCloser Mon 16-Sep-13 16:45:32

Hairy, we put our flat in London on on Tues eve and sold for over the asking price on Sat, and have had 3 other offers trying to up it since, which we`ve rejected, its gone mad here at the moment, if you want the house then honestly I think you need to offer at least the asking price, sorry. (my dh is a haggler as well, but luckily we`re not buying in London)

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