Offering under oieo successfully?

[Birtwell]

The market is dry in the village where I live and I have a short time to find a new house after selling (short compleate chain waiting and ready to go go go).

There is one little bungalow that has been reduced from 370k to offers above 320k after a while on the market. It’s no forward chain and I expect it’s the family selling it following a parents death.

It is shabby and very tired, it needs new everything. But liveable and to be honest 325 is a fair price as there is an awful lot of potential.

The problem is that my maximum is 310k. Can I bid? How do I put my bid forward in a positive light?

Does it take longer to sell at this time of year? Are people avoiding fixer uppers? Is there any light at the end of this tunnel? It was only reduced on Monday.

Why not just put your offer in straightforwardly- if you think you could live there comfortably until you could afford to do it up?

“310 is my best and final offer, I’m serious about the purchase, my own property is under offer and the complete, short, chain is also committed and ready to move at speed.” It might be attractive to the vendors to have it done and dusted.

Also it sounds like you’re local and moving within the same village? If so make it clear to the vendors- they might like the idea of selling to someone local, maintaining the community etc. You don’t lose anything by trying.

How can it be a complete chain if you have yet to find a place?
But offer what you can and say it's your best and final.

I'd sold my house when my purchase fell through, the one I'm in now was on for oieo £190k, I offered £180k on the basis that I was ready to go (and didn't need a mortgage), that was rejected but they accepted £185k.

So you may as well try, they can only say no....!

I offered £370k on a house that was oieo £390k and it was accepted with no haggling. You have the right to offer what you like and the vendor has the right to accept or decline. I would put the offer in, explain the position you are in with your chain. If they turn you down you'll be no worse off than you are now.