How do offers work?

[babyblues2]

Another clueless FTB here. How on earth do offers work? Do you start with lower than asking or higher? As most desirable properties in my area go to best and final and often for 20/30k more than asking.

In this hot market, unless house had been marketed for a while, the minimum I’d offer is asking if there are likely to be other interested parties. That way you show that you’re serious from off.

currently in process of going back and forwards on offer process. Up against 2 others. It’s already gone loads over asking so I’m not hopeful we’ll get it.

good luck OP

You could try offering asking price on condition they cancel any further viewings and remove it from the market, in the hope that stops it going to best and final.

With best and finals, as well as a good offer, make sure you make yourself favourable in other ways (be quick to get your financial details over to the EA, say you are happy to work to sellers completion timescales and be just generally lovely to deal with)

We had a sale go to best and finals last year. We actually pickrd the third highest offer. The highest was in a complicated sounding chain and the second one had such a tiny deposit that we were concerned they might get turned down for a mortgage. The winning one made a decent offer and really impressed our EA with how organised they were around proving finances etc.