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Should I offer more?

41 replies

PamelaDoov · 13/01/2022 11:23

Made an offer at asking price. House is perfect and we really want it. Rang back the next day and increased to 5k over as we were more than happy to pay that.
EA called this morning to say that the seller has had a few offers and wants to know what everyone’s highest and final offer is. This makes me think that they’ve had several offers at the same price, and they are trying to see if one of us can step into the spotlight. So we’ve gone to 10k over asking. Honestly we are happy to pay that, it’s within our budget, but there must be a reason the house was valued at what it was listed for. 10k over is quite extreme to me. If it was worth that or more then why wasn’t it listed as more.
Desperate for this house but don’t want to pay a crazy amount of money. We technically have a max budget of about 30-40k over asking this specific house’s asking price but I’d rather save a bit of money, plus if the house isn’t worth that much in the first place then surely it’s a bad idea to throw so much money at it even if we think it’s worth it- or am I wrong?

OP posts:
PamelaDoov · 13/01/2022 13:44

She said 3pm to me earlier, waiting for her to call back

OP posts:
Dammitthisisshit · 13/01/2022 13:52

This doesn’t sound right…Best and final offers should be a set date and time to be received by. And accompanied by any other information (you have sold your house vs being in a chain of x, cash buyer, etc)
Are the EA just getting your offer and using it to push someone else up? You do not want to get into a bidding war.

Dammitthisisshit · 13/01/2022 13:53

Oh sorry just saw there is a time of 3pm

PamelaDoov · 13/01/2022 13:59

EA couldn’t tell me what the other 3 offers were so assume she can’t tell any of the others either. She knows our position (house is sold to FTB so short chain and ball already rolling). Seller isn’t getting any of this info from any of us until 3pm.

OP posts:
PamelaDoov · 13/01/2022 14:00

We’ve gone 15k over. We are happy with that. If we lose the house, we know we didn’t want to pay any more.

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SareBear87 · 13/01/2022 14:19

I did something similar.
Offered £10K over asking.
Best advice I can give is go with your heart and then ask your surveyor to do an additional valuation. Mine came back as £30K less than we'd agreed on so I went back to the negotiating table and I ended up paying asking price.
I'll add the house did need work, uncovered by the survey so that helped my case but ultimately without the valuation I would have paid more

PamelaDoov · 13/01/2022 14:47

@SareBear87 good idea about the valuation, thank you

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RidingMyBike · 13/01/2022 15:06

Watching to see how this goes! Good luck OP!

PamelaDoov · 13/01/2022 15:09

Thanks! Should be hearing back by the end of the day.

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PamelaDoov · 13/01/2022 16:18

We got it!!!!

OP posts:
Scbchl · 13/01/2022 16:24

Congrats 🥳

startled · 13/01/2022 16:36

Congratulations, very exciting time for you !

RidingMyBike · 13/01/2022 16:45

Brilliant, congratulations!

Embracelife · 13/01/2022 16:48

10k on 1 million house or 10k on 200k ? What %?

fortheloveofcheesecake · 13/01/2022 19:45

Congratulations!!

CrikeyPeg · 14/01/2022 01:47

Fab stuff, congratulations!

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