What would you do?

[DueyCheatemAndHow]

Have accepted an asking price offer on our house. It was the only offer we got, house is on a main road which puts people off. Got the offer after a month of having it on - that was last Monday.

Have viewed 12 houses over the last month. Really love one. Put a 95% offer in which was rejected yesterday. They had dropped a bit a few weeks ago.

We can afford asking price but it's the max of our budget. Do we wait it out? Just throw the asking price at it when if it means we are potentially overpaying?

What would you do?

If you can afford it then offer it. If you love it that much and you've not seen anything else suitable out of twelve others you may regret letting it go.

If you can afford the asking price and you love the house then I’d offer the full asking price.

is if worth loosing out on the house that you want and can afford for the sake of a few percent?

Id offer the asking price. I wouldn't want to risk losing my buyer for the sake of money that i could afford.

I'd creep up slowly towards the asking price and / or see if you can get anything else added in if it's something you want (I increased my offer on my house to the maximum I could afford by getting fridge and blinds included so I didn't need to buy them).

Thank you. For context the house is on for 1.395 so a few percent is quite a lot of money.

But we love it.

Can you increase to 1.355?

I don't think they will consider it for a while given its only just been reduced

Have you stress tested the mortgage payments? Up to what?

frankly, what you 'think' really doesn't matter, what matters is what they think! They have reduced it, but they might have a number they're happy to accept below that.

however, if after stress testing your finances, you can afford the repayments & life, then offer at asking IF it's a reasonable price for the house. IF you feel (after looking at 12) it's overpriced the don't.

Decide the prices at which you'll be OK with someone else getting it & not wish you'd upped your offer.

We are good to 1.4.

If you love the house I'd go full asking price. I wouldn't want to risk losing the buyer.

If it's a long term house for you, AND you've not seen anything else AND you love it, I'd just pay the asking price.

If you really feel like you must get a "deal", perhaps offer £10k under, which really is nothing in the grand scheme of things.

Also think about how hard you would kick yourself if you lost this house due to £10k (or whatever the number).

Thanks everyone, this is really helpful!

We are taking our closest friends (basically surrogate parents) to see it tomorrow for a second viewing.

I wouldn’t go straight to the asking price. Try offering 10k under after the viewing and say this is your final offer.
Of course you can always increase it in a weeks time if they seem like they really won’t accept it but 10k under is a good price for them. We had a flat that started at 1.3 million and after we reduced it to 1.2 million we were still expecting people to make offers not come in at the asking price (this is in central London where the market is sluggish)

They have a viewing on Saturday so they will be hopeful.

Thanks. Think 10k under would be reasonable!