Found THE house - how do I make offer?
- Thread starter LadyJane
- Start date
Oh calm down, will you, you've already ignored most of the advice your were given! 
You're the buyer. Withdraw the offer if you like. It's not unheard of to tell the agent that your offer holds until a certain date, at which point it will be reduced (maybe even reduced to your original offer).
You're right - you're bidding against yourself at this stage and now the agent will hold out to see how much higher you're prepared to go. If he starts making noises about another bidder, get a third party to ring up and enquire if there are any bids on the house and how much.
You're the buyer. Withdraw the offer if you like. It's not unheard of to tell the agent that your offer holds until a certain date, at which point it will be reduced (maybe even reduced to your original offer).
You're right - you're bidding against yourself at this stage and now the agent will hold out to see how much higher you're prepared to go. If he starts making noises about another bidder, get a third party to ring up and enquire if there are any bids on the house and how much.
LadyJane you do need to be careful here - take extopias advice, you do appear verrrry eager, and as other members have stated you could get caught with a phantom bidder...
You need to be very detached with this house (hard I know), and don't be afraid to threaten to withdraw your offer if anything unsuspoeting comes up.
This is the strategy I used with our place when a "new" bidder offered more money after the EA had accepted our offer on behalf of the couple...
You need to be very detached with this house (hard I know), and don't be afraid to threaten to withdraw your offer if anything unsuspoeting comes up.
This is the strategy I used with our place when a "new" bidder offered more money after the EA had accepted our offer on behalf of the couple...
B
barryo
Guest
Calm down - I wouldnt like to see you playing poker.
Firstly, as are going to be a bidder on the house you will have your own final say. No rush!
If you want to try to nudge a quick sale make an offer about 4-5% below asking price and insist on a quick answer explaining there is another property you want to bid on if they are not interested in selling.
If this doesn't work make your bid and asked to be informed. Problem here is EA will seize the opportunity to make it into an auction. Even falsley. Dont show how keen you are to EA as this will be reported back to seller.
Keep a poker face and ask to be kept informed. Make sure the EA knows you are interested in other properties.
At worst - there are other ideal houses.
Keep your head
Firstly, as are going to be a bidder on the house you will have your own final say. No rush!
If you want to try to nudge a quick sale make an offer about 4-5% below asking price and insist on a quick answer explaining there is another property you want to bid on if they are not interested in selling.
If this doesn't work make your bid and asked to be informed. Problem here is EA will seize the opportunity to make it into an auction. Even falsley. Dont show how keen you are to EA as this will be reported back to seller.
Keep a poker face and ask to be kept informed. Make sure the EA knows you are interested in other properties.
At worst - there are other ideal houses.
Keep your head
D
Delizia
Guest
I was in a similar situation recently - found the house I loved and started with a bid 25K under the AP on the very next day after the first open viewing. (It was the second identical house on that block I had bid on through the same agent, so she already knew about me.)
Agent said that vendor wanted to wait, so I said I could pay 12.5K under the AP if vendor was willing to take it off the market there and then (it was not actual bid, mind you!). The vendor said he would only consider taking it off the market at 15K over the AP. (What's the AP for if vendor won't even be willing to sell at that price, I thought then?)
A few weeks passed and the vendor saw reason. Someone had (according to the EA) put down an offer for 2.5K more than our previous offer at 20K under, but in the end we closed at 5K under the AP.
We are now sale agreed and the contracts should be signed in July.
Why am I telling you this? Well, it was exactly the house we wanted in the street we wanted, and there are not many of those! So we really wanted it, and the agent knew that.
This was both an advantage and a disadvantage - the EA knew we would not want to lose the house and would be prepared to pay more, but she also knew that we were serious buyers. So if you really want that house, be prepared to pay a little bit more than someone who only bought it for an investment would. After all, you'll recoup the extra cost in the enjoyment of living in a place you really love.
Agent said that vendor wanted to wait, so I said I could pay 12.5K under the AP if vendor was willing to take it off the market there and then (it was not actual bid, mind you!). The vendor said he would only consider taking it off the market at 15K over the AP. (What's the AP for if vendor won't even be willing to sell at that price, I thought then?)
A few weeks passed and the vendor saw reason. Someone had (according to the EA) put down an offer for 2.5K more than our previous offer at 20K under, but in the end we closed at 5K under the AP.
We are now sale agreed and the contracts should be signed in July.
Why am I telling you this? Well, it was exactly the house we wanted in the street we wanted, and there are not many of those! So we really wanted it, and the agent knew that.
This was both an advantage and a disadvantage - the EA knew we would not want to lose the house and would be prepared to pay more, but she also knew that we were serious buyers. So if you really want that house, be prepared to pay a little bit more than someone who only bought it for an investment would. After all, you'll recoup the extra cost in the enjoyment of living in a place you really love.
Hi Lads,
A happy ending to this little (or not so little) story. We agreed sale yesterday!
We are delighted and looking forward to spending the next 40 or 50 years in our new home.
Thanks for all the advice. Some it it drove me crazy, but mostly, it was great to have a space to vent, imagine and plan.
If I learned anything, it is that every sale is individual and you just have to do what you think is best. Second guessing or trying to predict EA's and vendors is about as useful as chewing gum to solve an algebra equation!
Well we got there in the end, thank God.
L J
A happy ending to this little (or not so little) story. We agreed sale yesterday!
We are delighted and looking forward to spending the next 40 or 50 years in our new home.
Thanks for all the advice. Some it it drove me crazy, but mostly, it was great to have a space to vent, imagine and plan.
If I learned anything, it is that every sale is individual and you just have to do what you think is best. Second guessing or trying to predict EA's and vendors is about as useful as chewing gum to solve an algebra equation!
Well we got there in the end, thank God.
L J