Making an offer on a house - strategy

[stonerblue]

Sold ours but the stress of finding somewhere to move to now is getting unbearable. Pressure is on as our buyers are keen to move in asap, especially with stamp duty holiday.

But every house we view now seems to be guide price or offers over, and we've lost out twice in the past few days despite submitting bids over the asking price. The latest one we found out about yesterday, as of Saturday evening we had placed what was described as an attractive bid and our shortened chain was a factor, we were in a good position and would be given feedback before the seller chose how to proceed. By yesterday we'd been told we were outbid by a considerable amount by a cash buyer and the deal was already done. I hate the housing market.

*edit* It gets worse. A house that went on yesterday and we are trying to set up a viewing for, the estate agent tells us the vendor has accepted a bid this morning without even having any viewings, and there are no photos available online as yet as they have not had a chance to do them. Thoroughly depressing.

I'd guess that an established agent has loads of 'investor' contacts and any houses they get that are decent are seen by these before joe public

 

[KS55]

Best strategy is to get a Chinese mate to make an offer, then pull out at last minute. Repeat this three times with different Chinese mates. After the third one pulls out, the seller will be in a mood to take a reduced price.

 

[KnaresboroughBlue]

*edit* It gets worse. A house that went on yesterday and we are trying to set up a viewing for, the estate agent tells us the vendor has accepted a bid this morning without even having any viewings, and there are no photos available online as yet as they have not had a chance to do them. Thoroughly depressing.

Unless you're a seller by the sounds of it.

 

[bluetonium]

Unless you're a seller by the sounds of it.

Yep. We sold no problem. Around 15 viewings in 6 days and we accepted an offer at asking, refused another from a cash buyer who thought they could bid under asking. Maybe could have got more, estate agents says 5k maybe, but not worth it for us. Seems to be an abundance of cash buyers on the market currently.

But the real issue is we can't find anywhere to move to as competiition is so high, many willing to overpay and properties are going before they are even put up. If we don't find anything by end of this month then we may have to pull the plug and stay put and nobody wins :(

Asked to be added to some local estate agents lists for suitable properties they know are coming up, two said they have stopped doing this as it is too much work with so many people wanting to move, and this is semi-rural South Manchester too, not London or somewhere crazy!

Have a viewing on a property that was sold stc but just fallen through, seller accepted less than asking last month but has no bath, needs a rewire, has a smaller garden that we have now and possibly more. With 2 young kids and no real DIY skills beyond painting and wallpapering it'd be a challenge. Its a thin line between panicking and buying something vaguely suitable and losing out all together. I think for us we have the problem that we saw our dream house, bid over asking and were looking good, only to find out next working day we'd lost out and had no way to make it happen anymore. After that everything else feels a step down.

 

[Kinkladze 1]

Best strategy is to get a Chinese mate to make an offer, then pull out at last minute. Repeat this three times with different Chinese mates. After the third one pulls out, the seller will be in a mood to take a reduced price.

Ha ha fuck off.! Ours went back on the market today and we’ve got 2 viewings on Saturday so hopefully we can recoup some of the 3 lots of solicitors fees on the 4th time around! I don’t know where it’s all gone Wong...

 

[KS55]

Ha ha fuck off.! Ours went back on the market today and we’ve got 2 viewings on Saturday so hopefully we can recoup some of the 3 lots of solicitors fees on the 4th time around! I don’t know where it’s all gone Wong...

Best of luck to you. Hope it works out. Sorry, couldn't resist the chinese joke!

 

[worsleyweb]

Market is artificially inflated at the moment due to stamp duty. One estate agent I use took more last month than in previous year. I see a big dip in prices next year or later in this.

 

[Sheikh rattle and roll]

Would you not rent that breaks any chain and makes you a more attractive buyer
Also I& the market dips post stamp duty holiday you’re quids in

 

[117 M34]

Ha ha fuck off.! Ours went back on the market today and we’ve got 2 viewings on Saturday so hopefully we can recoup some of the 3 lots of solicitors fees on the 4th time around! I don’t know where it’s all gone Wong...

Mr Chang would like to offer you the full asking price.