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Original poster

Final bids - what to offer

20 replies

DoubtjngThomas · 08/05/2025 12:08

I have seen a house I like on the market for £340k. I’m a cash buyer and currently renting so in a strong position.

I made an offer about 2% under asking price and the EA has come back saying the sale is going to final bids as more offers have been made.

What advice is there for going back with my final offer? I can afford to increase a bit but am thinking I may the one holding the cards.
I need to respond by 2pm.

OP posts:
Original poster
DoubtjngThomas · 08/05/2025 12:10

Should add it’s only been on the market a week

OP posts:
JoyousEagle · 08/05/2025 12:16

Well it depends how much you like it.

Would you be more annoyed to lose out because you didn’t increase a bit. Or would you be more annoyed to pay more than you need to?

I think for a lot of sellers, you being chain free and not needing to worry about a mortgage etc would make you more attractive as a buyer.

BatshitIsTheOnlyExplanation · 08/05/2025 12:18

I'm surprised they're going to bids after just a week!

Original poster
DoubtjngThomas · 08/05/2025 12:19

I have been looking for 6 months and not seen much I like so this place did jump out at me. However I am also level headed and wouldn’t be too upset if I didn’t get it.

OP posts:
Original poster
DoubtjngThomas · 08/05/2025 12:20

BatshitIsTheOnlyExplanation · 08/05/2025 12:18

I'm surprised they're going to bids after just a week!

Circumstances….

OP posts:
rainingsnoring · 08/05/2025 12:59

It depends.
You are a very attractive buyer, without a chain and with cash in the bank.

How much do you think the house is worth relative to others that are selling currently?
How much is the house worth to you?
How would you feel if you didn't increase your offer to asking price and then missed out? If you would feel devastated, then you should increase to try to secure it. If not, or especially if you would feel anxious about the higher offer, keep the offer where it is.
It sounds as if you are v pragmatic overall which is good.

Nourishinghandcream · 08/05/2025 13:01

B&F does not always mean the highest bidder gets it, you ability to proceed will also be a major factor.
When we sold 3yrs ago, the third highest bidder was successful as they were in a better position.

canyon2000 · 08/05/2025 13:03

I suppose it depends on what the circumstances are. Do they need a quick sale or money most importantly?

eyeswide21 · 08/05/2025 13:04

I don't think anyone can give an answer on this, because it not you will know how much you're willing to pay.
For me it would depend how long term house it was, I would overpay to ensure I got it if it was the house I wanted long term.

Newgirls · 08/05/2025 13:04

If you haven’t spotted anything else as good then so too will other buyers. Offer the asking price or 1-2k more if you can? Depends how much you want it

Frostynoman · 08/05/2025 13:08

We’ve chosen a lower offer before over a (seemingly) easily proceed-able buyer (they absolutely weren’t, but that’s a different story..!)

I have always been told to sit and think what price I’d be upset / annoyed about not having gone to if I missed out

Ive also fallen into the trap at the start of a property search thinking a great house would be easy to find after finding another - they’re more like hens teeth so if this has jumped at you, grab it

housethatbuiltme · 08/05/2025 13:35

Is it a corporate sale?

Twiglets1 · 08/05/2025 13:57

You may or may not be the one holding the cards.

I would offer over the asking price maybe 345.5k if you think it's worth that.

ClaredeBear · 08/05/2025 14:00

It was as cut throat as this when we were buying a property a couple of years ago. You may well be in a strong position but others might be too and the agents keep their cards close to their chests and will play you off. Go as high as you can, is my advice but if they keep coming back to you, you might need to draw the line.

Advocodo · 08/05/2025 14:46

If you have been looking for 6 months, is the best you have seen and it’s going to best and final after only 1 week then it sounds like a great house. Don’t underestimate how boring and time consuming it is looking for a house to buy. I would pay what you think it’s worth to you.

Twiglets1 · 08/05/2025 15:14

@DoubtjngThomas hope you got your bid in by 2pm and would love to hear an update when you get a response!

Original poster
DoubtjngThomas · 08/05/2025 16:14

Bid in 🤞

OP posts:
ClaredeBear · 09/05/2025 18:41

DoubtjngThomas · 08/05/2025 16:14

Bid in 🤞

Got my fingers crossed for you.

Advocodo · 09/05/2025 20:49

Any news yet on your bid?

flyinghen · 09/05/2025 22:42

Don’t assume that you hold the cards, seriously. All our offers came from FTB in rented. Nobody was in any better position than anyone else it purely came down to who offered the most! There might not be any other cash offers but I wouldn’t necessarily leap at a cash offer that was less than a mortgaged offer. A mortgage offer doesn’t take that long to get and shows commitment to the sale. Whereas it’s not unheard of for cash offers to not materialise. So I really wouldn’t be too cocky tbh!

In terms of what you offer will depend on how much you like it and what the maximum you are willing to pay.

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