Owning your own home

Given you haven't even put your place on the market yet you can be fairly vague on your budget.

In terms of price, from your scenario I'd probably go asking price for the first offer and then the second what I thought it was worth (lots of reviewing sold prices and the completed listings on Zoopla generally and lots of viewings). Maybe you'll overpay but at least what you're overpaying is what you're happy with in terms of the property value rather than trying to second guess everyone else.

Fair enough. I'd suggest instructing the same agent to sell your place (if they're any good). I think you'll find they will be more helpful with advise in terms of offering on the place you want to purchase.

Maybe you'll overpay but at least what you're overpaying is what you're happy with in terms of the property value rather than trying to second guess everyone else.

This bit.

Ask robbie ffs

All of this is a bit moot if you don't know what rights the existing tenant has.

Need to double check but they've either already moved out or are about to. I can't remember exactly what the agent said during the viewing but I remember it sounded fine.

Got an email from the agent just now which kinda solves the problem:

Thank you for the interest you have shown on the property. However due to multiple offers the vendor has decided to invite all parties to make a ‘Best and Final’ bid by 3pm today.

So like I said they'd clearly already planned to go to best and final. Just straight away.

Not to confuse things...but we were told something similar to you, submitted out best and final, only to be told that there would be another opportunity to submit absolute best and final, which we couldn't improve upon as we'd already showed our hand and maxed out (not sure if this is legal but thought it was worth noting)

ANECDATA
The house we just bought (in manchester) seemed underpriced, so it attracted i think 4 full-price offers on day 1 (ours included). they went to best and final bids, and we bid a fair whack over (c. 10%), because even at that price, it was still cheaper than another house we'd offered on and a nicer property. we ended up with the winning bid.

then the mortgage company surveyed it and decided it was worth 10k less then we'd bid (and would only lend the lower amount) so we had to negotiate back down with the vendor.

fun and games.

not sure if this is legal but thought it was worth noting

I'd have thought they can do what they like but at a certain point potential buyers are going to think they are being played and act accordingly. Professional associations the EA might be members of probably frown upon it though.

From their email:

"All offers are private and will only be disclosed to the owner.
I would also like to mention that after the cut off no further offers will be considered."

Don't get me wrong though, I don't trust agents. But it's very clear now that we're being asked to put in the highest bid we can live with so it is kinda easier in a way.

Yeah that happens. Have been told it's more an issue with first time buyers when it's all the mortgage company's money on the line (we're putting in just under 50% of our own equity from our current place) but... you got the place right?!

I don't think we're going to get it because we won't be seen as proceedable cos we've not got our place on the market yet, but hey, let's see what happens.

you got the place right?!

yep. we felt a bit cheeky having to go back to the vendor and tell them, but at the end of the day it was out of our hands. in the end, i think we ended up coming to a deal where we paid a bit more than the mortgage company said it was worth and covered that gap by increasing our deposit...

Everything about this says Stow Brothers ...

E17 is over

Yep stow brothers are the new foxtons. Good if you are selling sure, but not so good if you are buying.

@Fox when does the sento go on the market though?

Yes, good call.

ASAP. You interested?!

I have nowhere close to sento money! #YouCantAffordIt

@Sparky might be interested

Not particularly nice people either, viewed a couple with them and they were late both times and very disinterested.
Nah mate, I spend this type of money everyday, no need to put any effort in...

Did anyone have a recommendation? For a full structural survey on a pretty knackered building

I got one from a colleague - should’ve been done today. Are you looking for one?

Yeah, I'll drop you a pm