What to offer on this house, help please

[DumpedByText]

We're viewing a house on Monday, from the photos it looks perfect for us. It needs nothing doing apart from decorating to my taste. Garden is well maintained to.

The market at the moment is so fast and every house we see there are 10+ offers put in, then it goes to best and final.

This house is £180k, so if we like it do we offer the asking price, or less or more. I just want to get a house sorted as we've been looking for so long!

[Moonlitdoor]

I'd go straight in with the asking price if you think it's priced competitively.

[blacklilypad]

If you want it, feel the price is about right and you can afford it, definitely go in at asking price. If it then goes to best and final, you can gauge interest and what is important to the vendor (fast sale, family, etc.) and decide if you need go over.

We got our property for under asking (as it was all we could afford), we didn't think we would get it but us being chain free, flexible and looking for our forever home, meant the vendors chose us even though they were offered a lot more.

[umbel]

If you really like it I would advise you to offer over asking price. My reasoning is this - we have lost out now twice at ‘best and final’. On both occasions, we initially offered asking price, as did the other buyers. On one other occasion, we offered asking price but the vendor had multiple offers, including one that was over asking. They went with that offer, rather than proceeding to best and final. Next time, I’m offering over!

[Lockdowndramaqueen]

We recently offered slightly over asking and wrote a letter stating our position and why the house suited our needs to avoid best and final - it worked - 5 other offers on the table - all cash but lower and they could see we were committed. Good luck. It’s only worth what it’s worth for you but I would avoid the bun fight at all costs.

[DumpedByText]

We're also cash, no chain buyers, this house is no chain to. So I'm thinking go in with asking or maybe £182k, I'll update if we like it.

[Lockdowndramaqueen]

Good luck

[Southwestrunningmum]

Are you cash or rather chain free but need a mortgage? If you have you mortgage in principle signed off then great. Do you know their position? Eg why they are moving? If there is any type of reason driving then then you will be valued, eg an offer of £180 from you is better than £182 of people who have to sell. The market is slowing a bit because SD is coming to an end. I wouldn’t necessarily go above asking if they are in any type of rush to move etc.

[Awkwardusername]

Just for context, my partner and I recently bought a house and put an offer in 10k over asking, then upped to 15k over for best and final (and got it by the skin of our teeth - we weren’t the highest offer but best position).

If it’s the perfect house, an extra 20k over the course of the mortgage is nothing as long as you can afford it!

Good luck

[thriftyhen]

Are you a cash buyer, ie don't need a mortgage, or are you just chain free? It makes a difference.

[ThatSunnyCorner]

If it turns out to be your dream house, I'd offer just over £180k, stress that you are a cash buyer, but say that you won't be submitting an offer if the property goes to bids. This has worked for us twice in the current overheated market - the first house we reflected and withdrew for good reasons after a day. The second time, the buyers cancelled all the other viewings and everything proceeded really smoothly. Sometimes I think you have to be ruthless.

[5zeds]

I’d offer under. Cash buyer no chain…depending if they are happy to move quick. I’d do 170 or 175 if they’ll move by xx/xx/xx

[SwayingInTime]

Are there viewings over the weekend?

[DeadHouseBounce]

Is there a link?

[DeadHouseBounce]

Did you buy it?