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Making an offer

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  • 23-08-2008 3:43pm
    #1
    ck66
    Closed Accounts Posts: 19 ✭


    Hi,

    Myself and my finace are first time buyers with an approved 95 % momrtgage. We have finally found a home we both love. We went for a second viewing today with the parents etc. We want to put an offer in for it on Monday. The house is valued at 420k (it is in Bray) and there is an offer in there already for 375k. How much should we raise that when we put our offer in? our max is 390k and were keeping our toes and fingers crossed that it wont go over that. Should we make an offer of 376k or jump 380k?
    Also do we need to say when making an offer that it is sunbjct to it passing the survey or is that a taken?

    Any opinions would be greatly appreciated

    Cat


Comments

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    #2
    Trampas
    Registered Users Posts: 7,474 ✭✭✭Trampas


    are you sure there is an offer in?

    survey is taken for granted.

    if you are first time buyers and not in a chain then your 375 should be worth more than another offer in a chain.

    i wouldn't go 380


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    #3
    astrofool
    Registered Users Posts: 16,480 ✭✭✭✭astrofool


    All offers are subject to survey and finances, but you should stipulate this just in case yourselves.

    Purely offer making wise (property market aside), you can either try and outbid them in small jumps, or can go in a big jump to scare them off, try and find out about the other offer, do they have finance, are they in a chain, why hasn't it been accepted in this market.

    If the 375k was a real bid, and I wanted the house and had a 390 limit, I'd probably go to 380k, and let them mull over that, and be very hesitant to go any higher, possibly 382k to seal the deal.


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    #4
    Ste.phen
    Registered Users Posts: 2,808 ✭✭✭Ste.phen


    I may be cynical, but i doubt it's a real offer, and you could probably drop your bid :)


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    #5
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    i'd be willing to bet you a pint that there is no other offer, we were in a similar situation a few months ago. The EA said there was an offer of 300k in, we said there is no way we'd go that hight, but we might offer 275k. Within a couple of days the EA phoned us and suddenly the 'offer':rolleyes: of 300k was forgot about.


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