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Original poster

Cunning tips to make a seller accept your offer ?!!

27 replies

mousemole · 27/04/2008 17:02

So we saw THE dream house yesterday. First day on the market, we were the third viewers and the 2 previous viewers put in offers of the asking price. Like us they have property to sell so my question is - what do we do now ? No point offering the asking price, so we could go a bit above but what I am after is getting them to accept the offer and stop viewings as I reckon in a weeks time there will be another ten offers ! Anyone had a similar scenario ? The sellers were away on holiday so we didnt meet them - so got no vibes on whether they are keen to sell etc etc although the estate agent said they are happy to go into rented for a while.
I want that house - help !

OP posts:

twinsetandpearls · 27/04/2008 17:04

As someone about to sell what I want from my buyer is speed. Can you not say take it off the market and we will complete in...

cupsoftea · 27/04/2008 17:04

what advantages do you off to a quick & easy sale? mortgage in place, no chain, can complete in less than six weeks?

Original poster

mousemole · 27/04/2008 17:12

cupsoftea, i wish we could offer those things. But, we had our house valued a few weeks ago with the intention of putting it on the market and then the 'credit crunch' stuff hit and we stalled. However, then the darned estate agent called with details of our dream house so we viewed it ! I will instruct the estate tomorrow on ours but realistically we are not in a brilliant position ( although no different to the other people that have offered). We can get the mortgage in place this week.
What do you think of ' we will offer x over the asking price' providing you stop marketing it for 2 (?) weeks whilst we find a buyer ?
Twinsetpearls - really happy to go for the speed option and would love to complete quikcly although that depends on who buys from us. Would obviously love someone not in a chain !!

OP posts:

Nero · 27/04/2008 17:16

Speed is always a good one - but some sellers do not need a quick sale.

I would say that you should offer slightly higher than asking price and then show you are committed by offering to put a percentage down as a bond (subject to satisfactory survey) whilst negotations are going on. That will alleviate any fears of you trying to undercut the price dramatically at a later date.

ooh - and can we see the link to the dream house please

noddyholder · 27/04/2008 17:17

it will come down to who sells first though no matter what you offer i would think.Unless you are going to be v generous.

NorthernLurker · 27/04/2008 17:19

Oh dear - without a buyer for yours I wouldn't look at your offer - and with other offers on the table I wouldn't take it off the market either. Is it cheap for what it is? I think it's interesting in the current climate that they've been able to get asking price offers- are we sure the estate agent is pulling a fast one there?. What are you selling? Is it likely to be snapped up as well? Thing is - you don't really know what you can afford to pay till you know what you are actually going to get (as oppposed to ask) for yours. In your place I would get it on the market asap, get your mortgage agreed in principle and keep the agents in constant touch with your progress. maybe hint that you would offer more. Then you're in a good position to swoop if you sell first and even if you don't you could be in a good position to get in there if a sale falls through.

TillyScoutsmum · 27/04/2008 17:19

Unfortunately I don't think the vendors would be willing to accept any offer if the purchasers hadn't sold their property.. Get yours on the market a.s.a.p. and go from there

SniffyHock · 27/04/2008 17:19

We were able to offer cash (I know that may not be possible) but also took it with no survey which I think helped. We also didn't need to sell our house. As others have mentioned, speed is the thing.

SniffyHock · 27/04/2008 17:20

Sorry, have just re-read and realised my post was not very helpful

twinsetandpearls · 27/04/2008 17:21

We are not doing any viewings until we have an offer on ours, certainly would not be doing so when house is not on the market yet.

I would not take an offer from you tbh however high.

We have seen a house we like online but will not be doing any viewings until ours has an offer.

clam · 27/04/2008 17:26

If this seller has that much interest on Day 1, I cannot see how on earth he would agree to stop marketing while you put your house on. Get yours sold, then see what's about. This one may well still be available if others haven't sold either.

Original poster

mousemole · 27/04/2008 17:29

Yes, we have done it all the wrong way round. Shouldn't have looked without ours being under offer. Northernlurker( hello again from the estate agent selling fees posting!), it isn't cheap for what it is but it is a sensible price and you are absolutely right in that we dont really know what we can go up to without knowing what we would get for ours. Although in principle our valuation was more than the the guide price of dream house (moving to the country from London).
Nero - how does the bond thing work ? Sounds interesting. Would love to give you a link to peruse but its not on the website yet as it is so new to market.
Do you think the sellers will not take us seriously until we are under offer ?
In theory ours should be snapped up as its in a good road in a good school catchment area et etc.

OP posts:

NorthernLurker · 27/04/2008 17:32

Ime - nearly everybody says they won't look till they have an offer - and then they do I'm just slightly cynical about these asking price offers that they have supposedly received? It must be a bloody marvellous house if they've managed that sort of response in this climate - or the agents are stretching the truth to keep the price up???

Original poster

mousemole · 27/04/2008 17:37

northernlurker - the estate agent guy was very nice but I am sceptical now ( given what you guys have said) that he was telling the truth. That said - it was lovely and I am sure there will be offers.

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NorthernLurker · 27/04/2008 17:44

Offers yes - but would anybody here make an asking price offer as their first bid?
I wouldn't! Even if the loo was made of soild gold I think they may have had offers but below asking and he's been promised a bonus if he can sweeten them up.

Original poster

mousemole · 27/04/2008 18:08

oh its such a shady business isn't it. So tomorrow I need to get a cash buyer who pays over the odds for my house ! Hmmm

OP posts:

NorthernLurker · 27/04/2008 18:37

To combine your threads - tell them you'll pay 2.5% if they get you a buy in a position to proceed withing what 72 hours? 96?

Original poster

mousemole · 27/04/2008 18:39

northernlurker - you are very clever ! Thank you. Its worth a try isn't it although I am tempted to say 2% ?

OP posts:

NorthernLurker · 27/04/2008 18:45

2.5% at asking price and 2% at below that but still acceptable

Original poster

mousemole · 27/04/2008 18:47

ah ha. Are you in the property field ? You have some very clever tips. I need some similar gems for my buying strategy ! I'm going to have to keep you posted on how all this goes !

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NorthernLurker · 27/04/2008 18:49

Nooooo. I have spent a lot of time lurking here though and wibbling all over people regarding my own sale and purchase which is still on-going. It's very easy to be cunning when it's not your dream house you're talking about

bringmesunshine · 27/04/2008 18:56

Mousemole:

offer full asking price on condition that it is withdrawn from the market from a fixed period of time - say 4 weeks
put yours on the market with the agent that is selling the property you are after asap - they then have 2 commissions to chase
let them know who your solicitor will be. Shows commitment.
firm up your mortgage and give details to the sellers E/agent so they can confirm that you are in a position to proceed.
Offer £200- £300 'cash in an envelope' to the negotiator who finds you a purchaser. Negs are paid small basics + commission the thought of £300 cash will make sure your property is the first to be mentioned to purchasers.
Give the Estate Agent the keys to your property and be prepared to go out at short notice and let the E/Agent do the viewings. As lovely as I am sure you are E/Agents sell properties more easily than vendors Less personal as it is a property not their home.
Clean, clean, clean but avoid the cliches - coffee, bread in oven etc etc are naff.
Pray

If it is any consolation we did this last year we were up against 2 other offers. We were not even on the market when 'Dream House' came up but to cut a long story short I am typing from Dream House

Oh and I am a former Estate Agent......

Original poster

mousemole · 27/04/2008 18:56

well I feel armed with more hints and tips now which is great. I hope yours will resolves soon ? has it been going on very long ?

OP posts:

bringmesunshine · 27/04/2008 18:57

NorthernLurker · 27/04/2008 19:19

Only about 8 weeks but we were on the market for five months before we got our offer that could proceed. We should exchange this week and complete next - hold my hand everyone please!!!!!

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