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Original poster

Scared of being thought a 'time waster'

16 replies

starrychime · 11/04/2011 19:00

Saw a flat I like and going back tomorrow for a 2nd viewing. It's offers over £99k and EA told me today when arranging that they would be looking for that at least due to condition, work done etc. I will only be able to go to 95k max if I put an offer but didn't mention this to EA. I don't really expect to get it but am a bit of a wuss and wouldn't like the vendors / EA to think I was taking the piss arranging 2 viewings and then offering that much less. Any opinions please - what would you think if you were selling?

OP posts:
stealthcat · 11/04/2011 19:02

I think that an offer of 95K on a 99K o/o property is perfectly respectable.
The point is to offer what you think the property is worth, rather than what the vendor thinks it is.

yomellamoHelly · 11/04/2011 19:04

I think the flat will be on for a little bit more than they hope to get. (Is what we did x2.) Suppose it depends on how "good" a buyer you are (first timer / mortgage organised ......) and how long it's been on the market etc. etc. Think in this market hardly anyone would offer the asking price.

chopchopbusybusy · 11/04/2011 19:05

Are you in Scotland? Nothing to lose by offering what you want to pay. You might be the only offer.

Original poster
starrychime · 11/04/2011 19:09

It's only been on for a couple of weeks but am renting so could move whenever. I did put an offer in on one a while ago which was also o/o 99, offered 95 and it went for 101. So as I said, don't really expect to get it but I guess it's worth a try - glad to hear it hopefully won't be thought of as totally time wasting Grin

OP posts:
Original poster
starrychime · 11/04/2011 19:10

Yes in Scotland chopchop - hope you're not the vendor Shock

OP posts:
activate · 11/04/2011 19:10

If you're not in scotland then estate agents are doing their job by bigging it up - a property is only worth what someone is willling to pay for it so they xcan say 99K as much as they want if you're the highest offer they still have to tell the vendor about it

glastocat · 11/04/2011 19:10

If you aren't embarrassed by your offer, you are offering too much.

Ciske · 11/04/2011 19:11

We told our EA we would definitely not go below price X and we did anyway, when confronted with a reasonable offer from a chain-free buyer. If you're in a good position to proceed, they may be swayed by your £95k.

To be honest, the EA wouldn't be a great salesperson if they said 'it's on for £99k but you can get it for much less'. They are meant to pursue the asking price and make you, the buyer, feel that's a good deal. Go to view, make your offer, give sensible feedback and it won't be wasted time for the vendors. JMHO of course!

fluffles · 11/04/2011 19:14

if you're in scotland (which you probably are with 'offers over') then there must be a home report available which will have a surveyors valuation on it.

my flat's on the market with a home report valuation of 100k and i would probably take 95 but i have said a flat no to an offer of 90.

Original poster
starrychime · 11/04/2011 19:15

Don't feel so bad now. One thing I wondered about was that the gas boiler (fairly new, 2 years I think) is in a cupboard in what would be my bedroom. Never had gas before so a bit dubious about this - they do have a detector above it but is this normal or common?

OP posts:
fluffles · 11/04/2011 19:15

is 95 all you can afford? i always went into house buying pretty honestly, if i wanted a flat or house i'd offer what i could.. rather than trying to 'get a bargain' or 'going in hard'.. to me it was about getting the home i wanted.

Original poster
starrychime · 11/04/2011 19:20

Yes fluffles, 95k would be the highest I would feel comfortable with given deposit I have and mortage I would need on the remainder. I'm not really into the 'getting a bargain' thing either, but just being able to afford what I offer.

OP posts:
stealthcat · 11/04/2011 19:28

Do they have a service report re the boiler? That should say if it meets acceptable safety standards.

stealthcat · 11/04/2011 19:30

Also, if you discuss your proposed offer with your solicitor they should be able to guide you as to what would be reasonable in terms of the property itself and the local market.

mummytime · 11/04/2011 19:33

The boiler sounds very normal to me. We have one in DC1's room, and have shoved a CO monitor in there, mainly because he was worried. As long as it is regularly serviced by a professional, it should be fine. If not its not fine where-ever it is.

microserf · 11/04/2011 21:18

A detector is totally standard and very highly recommended. I would always have one with a gas boiler and i check my detector is working regularly.

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