Active discussions

Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Original poster

Will I look like an idiot if I go back with a 3rd offer?

39 replies

Goingbacktoday · 07/07/2024 17:04

Around a month ago I viewed a house that was on the market for £180,000.

I put an offer in for £165,000 which was declined. I increased my offer to £170,000 which was also declined. I based my offers on similar sold properties in the area which were bigger, plus the house had been on the market for 14 months (ex rental, currently empty). I'm a first time buyer so thought that might have worked in my favour.

The agent said she couldn't get much out of the seller apart from the that he thought it was priced correctly, and so I decided to walk away. I haven't stopped thinking about the property though. It's in area that I love, but I'd be really stretching myself by paying the asking price.

I was thinking of phoning them tomorrow and offering £175,000 as my best and final. I doubt it will be accepted but at least I could finally walk away knowing I'd offered everything I have. But will I look like an idiot going back a 3rd time, especially if the seller is hellbent on getting the asking price? I'm hoping the agent might be able to pursued him. As far as I'm aware he's not had any other offers, not recently anyway.

OP posts:
tomketchup · 07/07/2024 17:07

you will utterly desperate to buy the house

and if i were them, id hold out for asking price without hesitation

tomketchup · 07/07/2024 17:08

so if you really want the house

offer asking or don’t contact them again with another offer

jennylamb1 · 07/07/2024 17:10

I would put it in as a best and final offer, especially if you've been thinking about it as that's a sign that you do like it even after having had some cooling off time. Is there anything else that would present you as a good buyer- I would get the estate agent to push you as a chain free first time buyer as you say. Are you able to move quickly, or is there anything else that could make you an attractive buyer?

CheeseyOnionPie · 07/07/2024 17:13

Don’t worry about how you look. Just decide what the maximum price is that you would feel comfortable paying for that particular property and offer that price. This idea of putting in a low starting offer expecting them to counter-offer isn’t as effective. If you always make your best and only offer then you’re not sad when it gets rejected and you can move on. Don’t get pulled into offering more than this because then you will always feel like you overpaid. The maximum comfortable offer will be different for different people and their own circumstances.

Doingmybest12 · 07/07/2024 17:13

If thats your maximum then offer it and see what happens. I would just think that you love the house and you are doing all you can to get it. They can still say no ,but you'll feel better thinking you've dine all you can.

NigelHarmansNewWife · 07/07/2024 17:14

If you make a further offer, don't make it for a round figure. Say you've done your sums and can stretch to a maximum of £174,680 or something just shy of £175k. Reiterate you are not in a chain, have MIP, etc. Even better if you can say you've viewed another property locally which you are also considering, but you prefer this one, have done your sums, etc. Go for it. You'd be kicking yourself if you found out down the line it had gone for an amount you could have afforded.

Original poster
Goingbacktoday · 07/07/2024 17:15

@tomketchup to be honest I'm not sure if they will get the asking price. It's been on the market for nearly 15 months now. 5 other houses on the same street have sold in that time.

OP posts:
NigelHarmansNewWife · 07/07/2024 17:16

Remember the agent works for the buyer though - they want a sale up get their commission, but they're not working for you.

jennylamb1 · 07/07/2024 17:16

Doingmybest12 · 07/07/2024 17:13

If thats your maximum then offer it and see what happens. I would just think that you love the house and you are doing all you can to get it. They can still say no ,but you'll feel better thinking you've dine all you can.

Yes, also you have increased the offer by a significant amount each time, so any seller should at least looking at your offer reasonably. If it's empty I'm surprised that they're not looking to get the capital released ASAP rather than just having it sat there.

titchy · 07/07/2024 17:21

Goingbacktoday · 07/07/2024 17:15

@tomketchup to be honest I'm not sure if they will get the asking price. It's been on the market for nearly 15 months now. 5 other houses on the same street have sold in that time.

That suggests the vendor isn't entirely serious. Walk away. If there's been five houses sold on the same street in the last year another one will come up for sale.

Hibernatalie · 07/07/2024 17:24

You've nothing to loose - if you can offer £175 then do. But it doesn't sound to me like they want to sell to be honest.

tomketchup · 07/07/2024 17:25

Goingbacktoday · 07/07/2024 17:15

@tomketchup to be honest I'm not sure if they will get the asking price. It's been on the market for nearly 15 months now. 5 other houses on the same street have sold in that time.

has he ever dropped the price in 15 months?

housethatbuiltme · 07/07/2024 17:50

In all honest you have shown your hand, even if you offered full price they are not likely to accept it anyway as you are now likely to come across as 'hard work'.

ACynicalDad · 07/07/2024 18:07

Why does looking stupid matter? You will speak through agents and then they will be gone, as it's rental they don't even know the neighbours. My fear would be you keep going up in 5ks I'd be expecting the next one. So I'd go up 6k if you possibly can. Just to hint that you won't do the next 5 to get to asking, and it's that bit closer.

rainingsnoring · 07/07/2024 18:39

I'm sure you posted about this before. If I recall, it was well over priced compared to the other recent sales, of which there were a lot.
Imo, you would be making a mistake to offer more. You would be overpaying and it would likely get down valued when your lender checks the comparables anyway. Stretching yourself to overpay for a house as a FTB in the current economic environment would be very foolish. Given that there have been so many other very similar houses selling in the road recently, it is likely to come up soon, hopefully one with a reasonable owner.

good96 · 07/07/2024 18:45

It’s been on the market for over a year and its an ex rental - the vendor won’t £10k under the asking price after all this time - they clearly aren’t motivated to sell….
Most would snap their hand off at this….

TemuSpecialBuy · 07/07/2024 18:48

Do it.

But prepare for a no.
we saw a property like this… the seller was deluded. It’s still for sale….
We have been living in the house we offered on after they declined our best and final for 5 years!?!

seethingmess · 07/07/2024 19:13

Try it. You've nothing to lose. Another month might have made them cop on about the asking price.

TakeOnFlea · 07/07/2024 19:15

If 180k will be really stretching you then so will 175k. Don't do it

Sunnyside4 · 07/07/2024 19:41

No, you won't look like an idiot - it's part of the house buying/selling game. Also, think about yourself and what you want. Go in with your offer, maybe add you'll offer x but want it off market by end of day/24 hours - it'll get them focused and avoid them messing you around.

Teacherprebaby · 07/07/2024 20:11

Goingbacktoday · 07/07/2024 17:04

Around a month ago I viewed a house that was on the market for £180,000.

I put an offer in for £165,000 which was declined. I increased my offer to £170,000 which was also declined. I based my offers on similar sold properties in the area which were bigger, plus the house had been on the market for 14 months (ex rental, currently empty). I'm a first time buyer so thought that might have worked in my favour.

The agent said she couldn't get much out of the seller apart from the that he thought it was priced correctly, and so I decided to walk away. I haven't stopped thinking about the property though. It's in area that I love, but I'd be really stretching myself by paying the asking price.

I was thinking of phoning them tomorrow and offering £175,000 as my best and final. I doubt it will be accepted but at least I could finally walk away knowing I'd offered everything I have. But will I look like an idiot going back a 3rd time, especially if the seller is hellbent on getting the asking price? I'm hoping the agent might be able to pursued him. As far as I'm aware he's not had any other offers, not recently anyway.

Contact the agent and ask what the seller's best and final offer is.

Tupster · 07/07/2024 20:13

Teacherprebaby · 07/07/2024 20:11

Contact the agent and ask what the seller's best and final offer is.

Show quote history

This. I'd phone estate agent, say I'm really interested but can't afford asking - so request they go to vendor and find out what their best price would be. Don't give anything more away.

BirthdayRainbow · 07/07/2024 20:14

You need to learn not to care what strangers think of you. If you want the house, try. Why would you let someone you'll never see stop you?

GodspeedJune · 07/07/2024 20:19

Don’t be too embarrassed to offer again. You’ll never have to interact with these people after the sale is completed.

PosiePerkinPootleFlump · 07/07/2024 20:22

If it’s several months since you offered £170k you could go back and say you are still interested if they are. You might get it for £170k if more time has persuaded the vendor they aren’t being realistic

Swipe left for the next trending thread