Not sure what to offer on the house I went

[purplerain52]

Finally found somewhere me and my partner love and have been for 2 viewings and want to put an offer in first thing in the morning. I'm so nervous. It's lovely and only been up since last week and has another few viewings lined up. It's up for £165k which is the very top of our budget. I can't decide whether to go straight in with asking price or offer around £160/162. I don't think they will have trouble selling it. My partner and parents thinks start with lower offer but I'm so worried about missing out on it. I can't decide. Anyone got any good advice?

Also we are FTB so this is the very first time we are doing this.

Go in at £160 - they always refuse the first offer anyway so make it a low ball.

Then offer 162

If they refuse offer asking - subject to full survey - if it’s taken off the market

If you actually want it and there’s been a lot of interest I think you should just offer the asking price and ask for it to be taken off the market.

Whats the market like where you are? Do you know if there have been any other viewings?

When I bought my first house it was a slow market and I put an offer in on a place priced out of my budget for the max we could afford, we luckily had it accepted.

My current house however was a bit more stressful, bought in an incredibly popular area, houses were never on the market for more than a week. We had lost out on 3 properties because we had this idea in our heads that no one offers full price. In the end we went in with the max we were willing to pay and secured the house.

I'd not play games here. Offer asking on the condition it's off the market and further viewings cancelled.

Going low ball and it's only been a week, with other viewings, they will likely just say no. Then you risk someone else liking it and a bidding war.

Don't mess about, just do it properly.

If it's a hot market and you feel it's fairly priced then offer asking.

How gutted would you be to lose the property if someone came in after you and offered asking price? You say yourself that they will have no problem selling, it's been on the market for a short period of time and has viewings lined up.

If I was that seller, I wouldn't entertain anything under asking price with viewings lined up. When they start to dry up, that's when you consider lower offers.

If you are happy to pay full asking, and will be upset if you lose this house, then don't play games over the sake of 1-2k. Over the lifetime of owning a house, what is 1-2k?

I agree with the others. Go straight in at asking if places are selling fast. I don’t know where you are, but the last few weeks here have been crazy with things selling as fast as they’re listed. 9am tomorrow offer asking and hopefully you’ll be agreed before any other offers come in.

Thanks all. I'm from the north east, the market doesn't move super quick there is other houses in the same area for same/similar price but nowhere near as nice and this is on the corner tucked away slightly which I like rather than bang in the middle of the estate. But 3 bed semis that are modern and don't need much work done often go pretty quick I have noticed.

FWIW I have usually paid full asking if it's within my budget and had the property taken off the market. Offer subject to full survey obv. If you are
the only FTB who offers you stand a very good chance of getting the house as you have no chain. Best of luck!

Just to update - our offer for asking price has been accepted so just getting things moving now. Exciting times but also nervous hoping I've made the right decision

Congratulations! On to mortgage paperwork now!

Congrats Op
From how you have described it, it sounds like a lovely family family. Good luck with all the paperwork etc. hope you’ll be moving in soon

Thank you!

Congrats OP - hope it all goes smoothly for you!