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Original poster

What should we offer?

17 replies

chocolateorange03 · 13/04/2025 18:10

Hi, hoping for advice please!

We viewed a house yesterday where the estate agents have said offers in the region of 210k, we've offered 210k but know that they had many viewings booked in for the same day, and had already had an offer when we made ours yesterday morning. The EA have said they will most likely ring us tomorrow and ask for our best and final offer.

We really want this property, but as I should imagine, so do the other buyers. Realistically, the most we can offer is 220k.

As its the best and final offer, what should we offer? We don't want to go in 10k over if perhaps we don't have to, but don't want to risk losing it.

What would you do?

Thank you

OP posts:
Neveranynamesleft · 13/04/2025 18:10

215 and say you want to be informed of any progress.
Please remember that estate agents will tell you anything to get a sale and a good price for the sellers.

Original poster
chocolateorange03 · 13/04/2025 18:25

Thank you, we are thinking 215k for the best and final offer, but when we made the initial offer yesterday the estate agent wouldn't tell us if our offer was less or more than the previous offer, so I'm worried we will miss out.

OP posts:
Doris86 · 13/04/2025 18:29

Tricky one. As you say you don’t want to pay too much but you don’t want to lose it.

If you offer £215K you might get it, or you might get beaten by a higher offer.

You need to decide how much you want the house, and if you’d be prepared to lose it for the sake of £5k.

Upsidedownsides · 13/04/2025 18:31

Are you prepared to lose it? If you think it’s a good buy at 220k and you can afford it then I would go to that. I wouldn’t lose a house of principal and £5k.

Or do 217 on the basis that house buying people tend to round number and you’ll beat someone at 215.

Original poster
chocolateorange03 · 13/04/2025 19:11

Thank you, I think we'll go 217,500 and hope for the best!

OP posts:
abracadabra1980 · 13/04/2025 19:25

If you really want the house, offer the full asking price plus £10 extra. As @Upsidedownsideshas said, it's not worth losing the house of your dreams for £5k. (Spoken from experience and just having lost one for the sake of £3,750). I was very 50:50 about my move though - I love where I am and don't need to move.
Please let us one how you go!

Original poster
chocolateorange03 · 13/04/2025 19:27

Thank you, it's so hard isn't it! I will update tomorrow.

OP posts:
HouseHouseHouse7 · 13/04/2025 19:28

I’d offer £220k if I really wanted it I think.

Good luck OP. I hope you succeed !

Feelingstrange2 · 13/04/2025 19:33

It's actually impossible.

You can only control your own offer.

I can understand overpaying if its the house of your dreams, you have a good enough deposit if it were to get down valued by the mortage company, and you know the market sufficiently well to know there's no competition to it. In fact, the right place, and you may save yourself moving again in a few years and that comes at considerable cost. Or it maybe they've done a lot of work which will.save you ££££ and the hassle of having to do it when you move in.

But ..... be sure there is a good reason why you are being drawn into a bidding war - be sure that its not just that you like it because everyone else appears to.

EssexMamisoa · 13/04/2025 20:12

I don’t think anyone can answer for you. If you really like it then I’d offer the 220k which you can afford.

Also if I was in rental then I’d definitly pay the 220k as I’d blink and the 5k would be eaten up in rental costs while looking for somewhere else

2025willbemytime · 13/04/2025 20:16

I viewed a house I really wanted. Advised to go with asking price. Estate agent said I'd have to offer asking if I wanted it as it had only been on five minutes. I would have tried 10k less but didn't want to piss them off. If I'd known how the survey would go, the attitude of them, the lies and the months behind schedule I'd have gone lower.

OtiMama · 13/04/2025 20:20

I think £10k isn't really a huge amount over. If people have already offered the same as you I wouldn't be surprised if it went for £220k or more. If you could afford that and really want it then I would go for that. I guess only you know how you will feel if you don't get it but could have had you offered your max.

Advocodo · 13/04/2025 21:07

Have you looked at other houses and if so how did it compare? If you have done your homework you will know if it is priced competitively. Does this house come up often? Is it truly a house you love. If I really wanted the house then I would go to my maximum. Try to make your offer, not a round figure. Something like £216,500 or if you feel it’s worth it to you then £201,250. It’s such a difficult one. I hope you get it. Please let us know.

Advocodo · 13/04/2025 21:15

Think I have this right but a friend’s child
had her place up for sale and lots of interested parties. I think they went with a couple that offer a non refundable deposit to show they were very serious buyers and really wanted the property. I think the buyers would lose the deposit if they backed out. I guess that wouldn’t include if there were problems with the survey. I have not heard of this before, I think it might have been £10k deposit, I am not suggesting you do this though. The sale did go through. I have to say the property was amazing and on the best road around.

Original poster
chocolateorange03 · 13/04/2025 21:36

Thanks everyone for the advice, I definitely thinks it's worth it, we've looked at quite a few houses and this one ticks all of the boxes, I think we might have to offer the maximum we can comfortably afford.

OP posts:
Doris86 · 13/04/2025 22:07

Advocodo · 13/04/2025 21:15

Think I have this right but a friend’s child
had her place up for sale and lots of interested parties. I think they went with a couple that offer a non refundable deposit to show they were very serious buyers and really wanted the property. I think the buyers would lose the deposit if they backed out. I guess that wouldn’t include if there were problems with the survey. I have not heard of this before, I think it might have been £10k deposit, I am not suggesting you do this though. The sale did go through. I have to say the property was amazing and on the best road around.

Sounds like a modern action. Something it’s best not to touch with a bargepole.

Original poster
chocolateorange03 · 28/04/2025 19:32

We didn't get this one in the end purely down to position, the other offer was from a first time buyer, but as luck would have it, we've had a offer accepted in an area we really want to live in and it's cheaper 😊

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