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Original poster

Best and final offer advice

10 replies

Bluesprinkles12 · 31/03/2025 12:36

I went to view a house on Saturday and absolutely loved it. Offered 235k (5k under the asking price) on the same day. I rang the EA today to find out whether they've heard anything from the buyer and they said they've got at least 1 other offer and will want to proceed to best and final.

I am not a first time buyer but currently chain free with 100k deposit. The seller is also chain free and looking to move back to their home country in July so would like to complete before then. I can afford to go up to 247k but that would be my absolute max. I am thinking of offering the asking price (240k) and outlining my circumstances of no chain etc.

How are you finding the market this year? Are buyers really likely to go over asking price in the current financial climate? The house is in NW for some context

OP posts:
Mrsttcno1 · 31/03/2025 12:38

Obviously some of it depends where you are, but where we are most are selling above asking. My sister & BIL are first time buyers & have been trying to buy their first home for months now, they’ve put offers in on 4 houses in that time, all of them best & final asking price & been beaten on all of them. They’ve recently had an offer accepted on house number 5, this time they offered 10k over asking.

Original poster
Bluesprinkles12 · 31/03/2025 12:57

Mrsttcno1 · 31/03/2025 12:38

Obviously some of it depends where you are, but where we are most are selling above asking. My sister & BIL are first time buyers & have been trying to buy their first home for months now, they’ve put offers in on 4 houses in that time, all of them best & final asking price & been beaten on all of them. They’ve recently had an offer accepted on house number 5, this time they offered 10k over asking.

Very interesting. What area of the country are they in?

OP posts:
Mrsttcno1 · 31/03/2025 13:00

Bluesprinkles12 · 31/03/2025 12:57

Very interesting. What area of the country are they in?

Show quote history

We’re in the North East.

There seems to be 2 categories for properties here now really.

  1. Properties nobody wants, have been up for 6+ months, no interest whatsoever just sat there, so if you did want one of those you could probably get it for a really cheeky offer
  2. ALL the other ones, that go up & down within a matter of weeks. At all of the viewings my sister went to there was at least 1 other person there. House number 4 which they loved, they had their viewing literally days after the house went up for sale & arrived for the EA to tell them they already had 4 offers so needed best and final by end of that day. The houses people actually want are crazy competitive here.
Wobblemonster · 31/03/2025 13:02

We’ve just sold at 6% over asking in the SE.

Original poster
Bluesprinkles12 · 31/03/2025 13:31

Mrsttcno1 · 31/03/2025 13:00

We’re in the North East.

There seems to be 2 categories for properties here now really.

  1. Properties nobody wants, have been up for 6+ months, no interest whatsoever just sat there, so if you did want one of those you could probably get it for a really cheeky offer
  2. ALL the other ones, that go up & down within a matter of weeks. At all of the viewings my sister went to there was at least 1 other person there. House number 4 which they loved, they had their viewing literally days after the house went up for sale & arrived for the EA to tell them they already had 4 offers so needed best and final by end of that day. The houses people actually want are crazy competitive here.
Show quote history

I worry that this house falls into the 2nd category. It only went on the market early last week, multiple viewings on Friday and I know there was at least 5 other ones on Saturday.

I will try to get an understanding of what the other offer was before putting my best and final. Most I can offer is 247k anyway so might just do 245k which is 5k above asking and if that combined with my lack of chain doesn't do it then it is not meant to be! Thank you for your help :)

OP posts:
TokyoSushi · 31/03/2025 13:40

I think it depends how much you want it... if you really love it, and it's 'the one' I'd go as high as you can seeing as in house buying terms we're not talking huge amounts. £245K is a bit 'round' and somebody else might offer that. Is £247K comfortable enough in other areas or does that mean that you're completely spent up? I guess you'd have to imagine how you would feel if you offered £245K and £247K got it? If you're going to stay there for a long time then it'll hopefully go up by the difference anyway. Good luck!

CountryMumof4 · 31/03/2025 13:52

If you really like it, I'd offer just over asking as well as outlining your circumstances. Or, if you'll be allowed to increase your offer, offer asking but be prepared to increase. We're in the NW and I've noticed most houses going for over asking recently, although the ones I've looked at haven't been on the market long at all - a couple of weeks mostly. It's likely not the case for houses that have been listed a while.

Piffle11 · 31/03/2025 13:58

I think Tokyo has the right idea. If it really is perfect for you, don’t lose it over a couple of grand… Offer the £247 rather than £245. If the seller and agent are asking for best and final offers, then this is your final chance. You don’t get to go back and offer a bit more if they don’t accept your offer. It makes it look as if you are messing them around. I would hope that your position will give you a better chance. I sold a house 18 months ago: actually sold it to someone who was in a position to move straight away. Someone else offered £10,000 more, but was in a chain.

nutbrownhare15 · 31/03/2025 14:06

When our house was marketed we had three offers which went to best and final. One was just under asking price, one was 2k over and one, that had already offered 10k over went up by another 10k. We'd have accepted their first offer. You don't know what the other buyers will do but I'd be hesitant about going loads over.

rmtutoa · 31/03/2025 15:43

In scotland most properties are sold using a similar system. Decide what is the most you are willing / able to pay and go for it. You can’t afford to worry about paying too much - you offer what you are prepared to in order to get the property.
I agree with pp to avoid round numbers - go over not under £245k. I usually try to incorporate my lucky number somewhere as well, eg £246,789, have not missed out on a property yet.
Your chain free status will also help - good luck!

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