Have you ever made a 'heat of the moment' offer on a house? How did it turn out?(28 Posts)
Last weekend DH and I went to look at dream a house - on for 800k (London, I know I know). It needs tons of work, so we were hoping it would hang around and we'd get it for 90% of the asking. Come Monday, the EA told me there were 2 cash buyers going for it and my offer of 725k (with a short chain of us and a FTB) was 'way off' and wasn't worth putting in the table. Friday I had a mad moment of and offered 775k. Sellers make their mind up on Monday. Argh. Distract me please??
I did, offered immediately after first viewing; it was accepted the next morning. When I had the survey done I found out why - £20k's worth of work on a house worth no more than £110k (he had it on at £120k. I pulled out on advice from the surveyor and have no regrets!
That said, it was the first house I'd looked at that I could see myself living in. But I was so desperate to find somewhere that I didn't really think through the negative aspects. I was a FTB and very naive.
Also there was nothing else on the market and I was pretty desperate to move, which skewed my judgment. I know better now.
After we'd offered on a house we were asked to raise it a bit. Well, I say we - the EA spoke to me in work. I raised it a bit, they came back, bit more, blah, blah. The final offer I made without speaking to my DH as he was unavailable at work. When I told him about the final offer he started to umm and ahh that it might be too much and I had to say that I'd agreed and the house was ours.
The house was worth it though, we had to relocate due to DH's work and we all still miss that house .
My sister bought a house after seeing the agent hammering the board up. Things were selling so fast at the time there was no way she would have got it if she hadn’t made an immediate offer.
I made an offer on a house within 10 mins of it going on rightmove. I had lived next door but one a few years before so knew the house. I wasn’t even in the country at the time!
Sadly it all fell through as the vendor’s chain collapsed.
I saw it on Rightmove the day after it went on. 11am viewed it, offered full asking price by the time we had walked to the kitchen.
It was on the road we wanted to be, near the beach and facilities, needed work but we accepted that before we walked in.
Extension complete now, just working on garden and we wouldn't move no regrets at all
I thought the EA was contractually obliged to give any offers?
Yes, put in a cheeky low offer on a fixer upper. As did lots of other people. It ended up going to sealed bids, DH took the call, heard a bit of hesitation in the chaps voice when he told them our offer, upped the offer and we got the house. I was about to phone him to say I think we should increase the offer!
Good point Mookatron - our EA have done that with us, even when offers have been well below what we'd consider accepting. It's an EA we've bought with before, so I was hoping they'd be favourably inclined towards us.
DH and I offered full asking price same day as viewing on our house. We had expected to have to compromise a lot as we were moving from a cheap town to a sought after rural village. But this has everything we needed.
The house wasn’t even officially on the market yet - no photos. But EA showed us round another one in the neighbouring village and suggested we see this one if owners would let us. They did. But even though they accepted they panicked a bit as they hadn’t found anywhere so we had a nail biting wait with our FTB banging our door down wanting to do the deal while they searched.
Luckily they found somewhere and it all worked out. We love it here and House is already worth more than we paid for it.
We offered full asking price half an hour after our first (brief) viewing as naive FTBs.
Regretted it for a while afterwards, wondered if we should have tried to get a bargain, stretched our budget for a more expensive house, etc.
Despite having a few issues (relatively old property), we both felt we loved it, spent a few very happy years there and sold it on with a 50% profit so it worked out for us!
I think whilst the EA is obliged to pass on your offer to the seller, they are probably doing you a favour by telling you to up it if there are other cash offers on the table. They are giving you an opportunity to be in with a decent chance of getting it, and also trying to get the best price for their vendor.
We bought our first house last year, nothing was coming on the market in our price range and what did was either a wreck or too small. Everything was selling fast too. Then our house came up, it needed cosmetic doing up but was otherwise perfect. It was an amazing price too as it was empty and the seller wanted it gone. I saw it come on rightmove at 10am, viewed it at 12. Booked husband in to view it after work but I knew it would sell fast and was too good to miss, I didn’t want anyone else seeing it and getting in a bidding war, so we put an offer in that afternoon. By this time they already had viewings lined up that evening and next morning. Seller accepted our offer, no one else was shown round and the sale went smoothly. It was surreal viewing it later with my husband knowing we’d already bought it, but it was the way it had to be. The EA kept telling us what a bargain we got, and a year later it’s worth about £70k more than we paid.
Obviously a house is a massive purchase but if it’s right you sometimes have to just go with your gut and go for it else someone else will
I fell in love with a listed flat back in 2005 prices were rising at a fast rate and I was scared I'd miss out. I purchased it which was amazing but the service charges which started out as reasonable became outrageous after about six years. The managing agents were not to be trusted and the recession hit in 2007. I sold it a couple of years ago at a 40K loss. I was very naive and it was my first home.
We viewed and offered asking price on a house the same afternoon it went on Rightmove. It was an ideal house, period Home in beautiful location where hardly anything comes up. Sale progressed without incident and we are very happily living there now!
You may be right @Keeping. They seemed really pleased to get my second offer (as they bloody well should) but warned sellers we're looking at 'the whole picture' re chain etc
I don't even know if we can borrow that much. We can afford it but I'm the higher earner and self employed so my income may be difficult to prove.
I offered 20k below asking price on the spot to the vendors. They weren't happy, but accepted it. I loved that place & couldn't afford a penny more so was honest about it!
I’d be wary of these supposed cash buyers! And your EA has a legal contractual obligation to put your offer forward !!!
Yup. We looked round a house at the top of our budget. It stank of dogs, it was painted banana yellow throughout, it didn't have anything on our wish list except location and 4 bedrooms. I was very ill with pleurisy at the time.
Yes, we bought it.
A year on, it's my most favourite place in the world to be.
We did on this house.
I saw it on Rightmove, showed my colleagues at work and declared it my dream house. Arranged a viewing with DH and we pretty much decided to buy it upon pulling up as the view is amazing. We offered that day.
Needed (and still does) lots of work, had been converted by Bob the builder previously but the view still makes me smile every day and I love it. We are slowly making the inside as lovely as the outside.
Fingers crossed for you.
I put in an offer of 10% over the asking price within 20 mins of viewing. Because it was an estate sale & I had no chain the vendors accepted it despite it being on the market 3 days. I absolutely love it and got an incredible bargain
DH and I 'just went for a nosey' at some new apartments they were building near us...came out with a new 2 bed flat
We very happily lived there for 7 years.
This house. We were the first to view. Offered asking price within minutes of walking out the door on the proviso that no one else viewed it.
There is no way we would be able afford anything like it now. I still reckon it was undervalued but it is a quirky and unique house so who knows.
I accompanied my friend to look at a show flat on a new-build estate because I had a spare Sunday afternoon and nothing better to do. She bought one. So did I.
My boss at the time used to tell me that I was too rigid and unspontaneous. Her face on the Monday morning when I responded truthfully to her question about what I'd done over the weekend! 😂 We are still in touch 20 years later, and it often gets mentioned over a glass of wine.
It was a really good decision. I paid £125k for it and sold it for £203k (was marketed at £195k but went to sealed bids due to a ton of interest) 22 months later. That the 1990s for you.
The house we're currently buying - we complete this week. I booked a viewing within minutes of it being on Rightmove, my parents looked round the following day for us as we couldn't get there (relocation move) offered asking price straight away. We then looked round the following weekend - perfect location and houses there hardly ever come up for sale, needs work but we can't wait to move in!
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