should you wait before putting in offer or just go for it?

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medicinelady

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hi guys,

we viewed a house we like last night but as we are scared tentative first timers we are thinking we should wait until monday to put in a bid. the house was 310k but is down to 295k. we are thinking lets be cheeky and go 269k but should we think long and hard over the weekend or just go for it? there are no bids in yet. is friday a bad day to do this? maybe its a stupid question but i just don't know what to do!!!! Thanks guys.
 
Re: should you wait before putting in off or just go for it?

Sorry that meant to say "should you wait before putting in offer or just go for it?"
 
Re: should you wait before putting in off or just go for it?

What's the rush? Give yourself the weekend to think it over an be comfortable with your decision.
When you make your offer back it up by saying that you are FTB's and are not part of a chain - this is very attractive to vendors. Be firm and businesslike with your reduced offer - don't let them think that you think you are being cheeky... if you get me...
 
Re: should you wait before putting in off or just go for it?

Medicinelady, you are making the biggest decision of your life. Your post tells me a number of things:

"I'm afraid that the house will be sold if we don't bid right away!"
"I'm worried that I'll be refused if I bid too low"
"I think that I'll lose this house if I don't bid quickly enough and at the right price"

My advice is do a bit more research (How long has the house been on the market? How many times did the price drop to date? Are there many other houses in the same area for sale and what are they looking for? That sort of stuff).Read the recent threads here too.
 
Re: should you wait before putting in off or just go for it?

medicinelady said:
hi guys,

we viewed a house we like last night but as we are scared tentative first timers we are thinking we should wait until monday to put in a bid. the house was 310k but is down to 295k. we are thinking lets be cheeky and go 269k but should we think long and hard over the weekend or just go for it? there are no bids in yet. is friday a bad day to do this? maybe its a stupid question but i just don't know what to do!!!! Thanks guys.
Click to expand...

bidding 9% less than asking is not being cheeky in the current market. A lot of people would say you're being generous!
 
Re: should you wait before putting in off or just go for it?

Thanks for the comments. yeah i think i have some first time buyer's nerves and naivity. i think a solid plan over the weekend and go in monday with a bid. I thought we were being very cheeky but 9% doesn't seem like that much i suppose. Thanks everyone, have a great weekend.
 
Re: should you wait before putting in off or just go for it?

one question to ask yourself,

is this a starter home or do you see yourself living in it for 10 years?

a lot depends on how long your going to be in the house,

it can be very rewarding to own and maintain your own home.
 
Take the weekend and contact the EA and ask for a second viewing.This will show you are interested but not desperate.In the meantime, look up the following.
http://www.irishpropertywatch.com/
[broken link removed]

You are in a good position. Take your time.Best of luck
 
Let them know your interested,but not at that price.As a seller and possible buyer at the moment,I'm in both scenario's waiting on an offer before making an offer on another house,but at the same time letting the seller of my potential house know I'm interested!!As said earlier your in great position being chain free,but don't be afraid to loose the house unless you really really really want it...more will come along!!Get as much as you can for your money as your the one who has to pay it back over the next 20 or 30 years.....think about the future not just the present!!
 
thanks guys for the advice. We were all gear up to put in a bid but have decided to not be over eager so we have arranged another viewing. we def need to take it slow as we are in a great position.
 
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