how many offers are sensible

S

sillyaboutmo

Registered User
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Hi,
I am going to view a house on Thursday. BOI said we'd get a mortgage for 90k so we're looking at properties at 100k.
I spoke to the EA today to make an app and he said that the house is on for 95k and the least they'll take is 90k. its a 4 bed detached bungalow with 1/2 acre.
anyway if all goes well and we get approved for the 90k an we love the house what should we offer 1st. I read on here to go low but how low and how many times is sensible to make offers. i dont want the vendor to think im not serious or to think im going go to the asking price.by making too many offers.
Mo
 
There are quite a few stories of people offering "embarrassingly low" offers, and then the EA coming back to them or the house being on sale months later. The truth is no one really knows and each house/seller/EA is different in some respects.

Regarding going in with your max bid initially, the rules of bargaining state that both parties should feel like they got something out of it. I think EAs reject the first bid just out of habit these days anyway.
 
do you think it would be good to go in at 80 or 85k initially. since the EA did say the least they'll take is 90k, do you think theres any room for bargaining?
do you think 2 bids is enough?

Mo
 
Do you know how long the property has been on the market for? If you know its been available for months, I think there is no harm chancing a low offer. Would also suggest if you know there is work that needs to be done and this is obvious (e.g. new fence, kitchen upgrade, etc) get some rough costings and take this in to consideration when making your offer too.
 
good point, never thought on that. funny theres no pics online of the inside so i suspect its a bit outdated.
also the EA did say that he had the property sold a few times but the clients were refused finance. dunno why they'd make an offer without a mortgage in place.
Thanks for replying.

Mo
 
Cashier, if it was that bad i'd have to say goodbye to it because i wouldnt have the money to do it up.
sheesh might be worth it though because its in a ideal location with 1/2 acre with it.
mo
 
yeah thats true it must be rough.
gotta have room for a veggie patch and a garage and work shop. i would tinker with engines so i'd need somwhere to do it.

MO
 
Some things are important others are not. A horrid kitchen and peeling wallpaper can be lived with. Don't judge a house that way.
 
If you want the property and can afford the asking then bid for it .

Trust me I just missed out on the ideal family home by trying to be smart and procrastinating .
 
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