Play a game? Guess the 'best and final' offer?

[IncompleteSenten]

Someone (not me. And that's really not me not 'not me' absolutely me really ) is really interested in buying a property.

I'm changing the figures for anonymity so let's say the house is on the market for 300,000.

Offers so far are at least 300,000 with with highest being 310,000

'best and final' offers have to be made next week.

How much over initial offers do you think someone would need to go to be pretty sure they'd get it without paying so much over that it's ridiculous?

I guess what I'm asking is is there a percentage / figure that people increase by for best and final?

Do people go up by say 10,000 or 20,000? Or more? Or 10% or something?

I realise probably this is impossible to even guess at but if anyone knows anything about best and final that would be great, thank you.

I’d say 10% and then a bit more to beat all those who went for 10%. So, something around £337,000 or even £341,000.
But really, I suppose it is whatever amount you think it is worth,Mandy stop when you’d be more annoyed at paying that much than missing out on the house.

Don’t know who Mandy is! That should say “and stop when you’d be more annoyed at paying that much than you would be annoyed at missing out on the house.”

Someone on another thread talked about winning by £47k over asking, but I suspect the percentage is smaller as it sounds like a large house in SE England, albeit in need of refurbishment.

But you really can't say as it depends on the original price compared with others in the local area.

What else can you get in the area for £300k? If it already looks expensive next to local comparators, it's a completely different proposition to if there is nothing else for sale locally under £400k.

A house near DM has just sold with an asking price that was probably around 10-20% less than I thought it would be, so when the sale is finalised and purchase price available on Zoopla etc, I suspect that it will have gone for around £30-40k over asking.

It's cash buyers only, in need of completely gutting and similar houses that need nothing are going for about 120,000-150,000 more. (To stick with the changed figures I've matched percentages)

So the offers will be from developers, who will probably have their own team of trades that can do it up for far less than the £100k extra they'll sell it for.

They may well then offer £330k, spend £40k and make £40k profit.

So I'd say you'd need to offer over £330k or 10% plus.

Problem is developers will be cash buyers and quicker to sell to.

Ok you're cash too then yes?

We went 9% over to secure our current house last summer when our area was in a huge boom.

The annoying thing is we will never know what the next highest offer was so if we could have bid lower but we put in our very very top offer and I must say it has been worth it.

Im a really missing something here 🤣

Other houses in that area, in that condition, are going for 120,000 to 150,000 but this is up for 300,000 and someone wants to know what to offer to secure it?
If i have read it right, I would find out why its up for so much more than comparable houses at the same point in the market.

But that aside, its a balance they need to offer their upmost of what they honestly wouldn't be upset to pay v's loosing the house.
So if it goes for 350,000 and they would be heartbroken if they lost out at that offer that.
If it went for 350,000 and they would think good luck to them,no chance i would pay that go a bit below.

LOL at your username readwhatIactuallysay.

Read what the OP actually said ... you are definitely missing something!

@readwhatiactuallysay

Im a really missing something here 🤣

Other houses in that area, in that condition, are going for 120,000 to 150,000 but this is up for 300,000 and someone wants to know what to offer to secure it?
If i have read it right, I would find out why its up for so much more than comparable houses at the same point in the market.

But that aside, its a balance they need to offer their upmost of what they honestly wouldn't be upset to pay v's loosing the house.
So if it goes for 350,000 and they would be heartbroken if they lost out at that offer that.
If it went for 350,000 and they would think good luck to them,no chance i would pay that go a bit below.

You are missing the word ‘more’ that the op stated.

Your user name is most apt!

Yes, the potential buyer is cash too.

And yes, I said more that's really funny given your username, sorry 😂😂