What do you usually include in the offer for a property?

FTB so kind of clueless. We're ready to put in our first offer. What do you include in email?

Do you just include the number? How you came to the number and why you think it's fair (e.g., based on similar properties price per sqm)?

Do you ring the EA first to see if your offer is reasonable (although obviously they may scoff at it because EA works for seller)?

Maybe a high level reason why we like the property and could see ourselves there but not a lengthy love letter (not our style).

We plan to mention that we are FTB and not in a chain and have AIP in place so can move once sellers find a new house. Do we mention our desired timeline?

Don't want to look like total rookies on our first offer!

FWIW, the house has been up for 2 weeks and the EA said they had 2 more viewings booked in after us but no offers yet, as the market has slowed a lot in the last couple of weeks because of global uncertainty.

Posted Mar 13, 2022, 9:58 AM UTC

68
Pedro_Scrooge•

I just said :

I like the house and would like to make an offer.

I plan to refurbish the property for my daughter and I to live in as its close to her school (ie, I am not a developer planning to rent out).

I would like to make an offer of asking price, and I am willing to clear out furniture etc if required as long as personal effects are removed. (it was a sale following a death, the family were too upset to sort through and clear everything, I figured factoring in 1k on clearing the place is better than getting into a bidding war with a developer)

My offer above is on the proviso the property is removed from sale.

I have proof of deposit if required, I have attached my mortgage in principle and have solicitors instructed so happy to move as fast as required by the vendors.

Edit::: This was last March, so the market was mental at the time. But not as mental as it is now.

I got the house over a developer who offered 5k over asking as he made the mistake of telling them he owned a house up the road which he rented out. They didn't like that.

13
devananneOP•

Ah yes thanks for reminder to mention to remove from the market!

6
bm_a•

Don't get too personal.

"Thank you for taking the time to show me around the property at X Street.

I would like to make an offer of £x. We are first time buyers with a mortgage agreed in principle. This offer would be conditional on the property being removed from the market.".

State the amount, your position and ensure you say it's conditional on the house being removed from the market.

Offer slight under what you'd be willing to pay, to allow for negotiation. Be prepared for the estate agent to scoff/make you feel embarrassed, that's normal and all tactics.

9
cosmocat123•

I just made my offer by phone rather than email.

I pointed out I was FTB with AIP and no restrictions on moving date.

The seller chose me over landlord who offered more.

Good luck and move fast if you want it

4
[deleted]•

The advice everyone else has given is pretty much perfect.

State your position (FTB, no chain, willing to move at vendors pace) State your financial circumstance (AIP in place, LTV %) State why you like the property (I said I had grown up on the adjacent street and had parents still living there) State your offer

3
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1
Sgt_Fry•

Email? I made the offer for my current house over the phone.

And for the house I'm now buying at the house itself.

Doesn't need to be a formal email

1
Warm_Invite_3751•

I rang and gave a verbal offer and said I will follow up with an email.

This was ours:

“Good morning X,

This email is just to confirm our offer of £247,500 on XYZ, as we discussed on the phone.

This is on the understanding that the property is taken off the market straight away and there are no further viewings.

A reminder for clarity, we are unable to apply for our mortgage until 2nd June, however we are FTBs and will be instructing our solicitors as soon as the vendors have confirmed they are moving.

Please find attached our ID, proof of deposit and our DIP.

We will look forward to hearing whether our offer is accepted!”

1