Offering on 2 houses

[Amichelle84]

We saw 2 properties we loved on the weekend and need to submit our offers today.

We've been searching for over a year on and off and always get outbid because people offer so much over asking. We can't afford to do that as we don't have a lot of spare cash to make up our banks valuation.

For those with the experience, are banks valuation and the EA pretty similar?

Both properties are below or AIP value

Mortgage companies are down valuing loads of properties at the moment because the markets gone weird and people are offering silly amounts.

The mortgage valuation and EA will probably be similar. I think though if you are being outbid because people are offering significantly over, you need to be looking at less expensive houses so you too can offer over.

The market is different now but when we made our offer last year it was 10% over and there were no issues. It does depend on size of your deposit/LTV as banks want to be able to claim back the amount lent if a sale was forced.

We decided to offer 5k above asking, will see what happens but I'm sure we will be outbid by A LOT as usual.

The properties are both just under £20k of our AIP.