Tips for getting offer accepted.(15 Posts)
We have been looking for a house for a few months now and have put in a couple offers at or near asking price but to no avail! These houses are still on the market. Basically, I think we are rubbish at negotiating and perhaps we are putting our offers in too quickly, causing sellers to think that they should hold out for more.Typically vendors have been taking a week or more to get back to us. Are we push overs? Should we be setting time limits and conditions?
All tips on placing offers are welcome- wording, timing, conditions etc
Whilst you are on the phone arranging your viewing you need to ask the agent what the position is of the sellers. So have they bought somewhere? If the answer is yes that could mean your offer is likely to be accepted.
Also you could be in an area where houses go for their asking price. How much lower are your offers? Are you in a position to proceed straightaway or do you have your own place to sell?
When putting The offer in ask the agent if they can get back to you ASAP as you don't want to be hanging on all week
Offer should include the price, your financial position (ie that you have a mortgage arranged and what % your cash deposit is), whether you're in a chain or chain free, how soon you'd like to move. And obviously how much you love the house (flattery combined with begging never went amiss).
Thanks everyone. Yes, we are in an area where houses sell near or above asking price. Our house is under offer, and we have a mortgage in principle. We have been telling agents this and providing copy of mortgage in principle.
Regarding offers, on a house marketed as x25 but then in the description says (offers between x25 and x50) we offered x25. Also on a house marketed at x25 we offered x26.
If a property is marketed between two figures, they are looking for the highest figure or above that.
So if you want the house you need to offer the higher figure and stating your good position or above the higher figure sadly.
We had many offers rejected before we got our house. Before we got this one, we were offering at asking or just below.
With this one, we were the first to view, had second viewing the next day, and made offer day after that. House was asking x09,950, we offered x12,000 and got it. Subsequently price got reduced to x06,000 due to survey. I think what also swayed it was that we were chain free, and had a large lump sum to use as deposit - so we could move quickly and definitely had the funds and sellers could see that. They cancelled 6 viewings booked when they accepted our offer. It wasn't much more than asking price, but enough to tip them.
If you really want it I would offer just over, play on your strengths as a buyer and do it quickly. Chances are survey will throw up some odd balls so you may not end up paying the price you offer as you can negotiate down.
Lucy - as Mrs Florrick says but it helps if you can give the name of your surveyor as well, just to show you have one in place! My SonIL wrote a really complimentary letter for me about how as soon as I saw the house I knew it was perfect for me, almost OTT but it did the trick. IMO setting the offer and all the details out in writing in a letter, even if you have already told the agent, and hand delivering it also helps if distance permits
Wow! No wonder we haven't got a house yet! Must up our game. We bought our first home when it was very much a buyers market.
We saw a house at the weekend in the best neighbour hood in town with great schools nursery through to 6th form. Never imagined we could afford to buy there. BUT it's a two bed and we were looking for three. We only have one DS at the moment so ok for now and could convert the loft (which would give us a seaview too). This is a location over house choice but I think it would be the right thing to do in the long run. WE MUST GET IT!
We have a second viewing booked for wed. I will ring to move that forward to today. It's right at the top of our budget but could possibly stretch to 1000 over the asking price- makes vendor feel better psychologically. Will drop a note through the letter box too.
Wish me luck.
When I saw my dream house it was already sold, when mine sold its was still with board outside 2/3 months later.
I really wanted this house, so I composed a letter to the vendor saying I'd lived in .... 25 years and always looked at this house thinking one day I'd live there. I also said I'd sold my house and was willing to give 10k over the asking price, and that this was a real genuine offer. Left my phone no and later that night she rang!!! Said they would need to discuss it and grt back to me.
Guess what I live there now! Naughty but I got it
Well done, Mini. I admire your chutzpah!
Well, I went for the second viewing today. The agent said there was already an offer which the owner is considering but she hinted that £5000 under asking price should do it. I came home, and a few hours later, was told vendor has accepted an offer, not asking price though. I then offered the asking price and asked for a reply by the end of day (this was 4.30). Estate agent called back at 5 to say vendor needs to think it over- new deadline of midday tomorrow issued.
At the same time I put in a cheeky offer (£15000 under asking) on a house that is bigger, in a good location but needs lots of work. Its been on sale for a while and the price we offered is fair given how much work is needed. Surprisingly, estate agent sounded optimistic so we'll wait and see. Vendor has till midday to respond.
I hope we get one of them.
The house we wanted was on for £187,500 and needed a lot of work. We offered £167,500 which was rejected. I left it a couple of days then rang the EA saying I would bypass the (perhaps natural) £170,000 and offer the absolute highest we were prepared to pay, and stated it would be the last offer. It was accepted. Truth be told I would have gone up to £180,000
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