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Advice on making an offer on a flat

4 replies

NeedASolution · 22/08/2022 14:01

Posted in Property but moving here for more traffic.

I am single and looking to buy a flat. It is my second time buying but will be the first time I have bought alone and quite nerve-wracking taking all the decisions by myself, though I am generally quite a sensible type.

I have seen a flat that I love and want to offer on. My question is whether to offer the asking price or not. I am certain that the seller is going to push for at least 5% more (I met him and he clearly implied it) which I would not want to pay. Do I offer at the asking price or start lower as a negotiating strategy?

For context, I have a flat to sell that is not yet on the market so am not the ideal buyer, though I think it will sell easily. Otherwise, I have the finances in place and am very flexible in terms of timings, easy to deal with, etc.

WWYD?

OP posts:
LionessesRules · 22/08/2022 14:13

How long has the flat been on the market?
How quickly can you get your flat on the market?

NeedASolution · 22/08/2022 14:23

It has only been on a week. I would probably need at least a week to get mine on.

OP posts:
emmathedilemma · 22/08/2022 14:26

In all honesty I think it depends on the market in your area. It's quite normal under the scottish system for people not to have their property on the market when they place an offer but in some areas you might have 20 offers on the table within a week. I would try and enquire what sort of position the sellers are in and take the advice of your solicitor as to how to place an offer.

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LionessesRules · 22/08/2022 14:30

If in England, I would get your flat on the market ASAP, then go back once yours is under offer.
If there is loads of interest in the flat you like,you are unlikely to secure it without being sold.
If there is little interest, and you are under offer you are in a stronger position to pay under asking.

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