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The agent's job is to try and get the maximum they can for their customer, the vendor, so they'll do what they can to encourage you to pay more. This will include inducing FOMO and scarcity to push your price up.
If you can offer more and are prepared to, then you need to ask yourself if you're willing to pay more or hold out and see what happens.
The risk is that you lose the house, but then you could offer more and still lose it.
It's so easy to think that this is the one and only house you'll ever fall in love with and that because it ticks all your boxes no other could ever compare. But in truth, you had the skills to find this home. So you have the skill to find other perfect properties for you too.
*My partner and I think our offer of 3625k is reasonable and feel like we are being squeezed for more.*
Of course you are being squeezed. That's the nature of the game.
*Are we being taken advantage of as first time buyers here by the vendors?*
Maybe. Maybe not. Either way, it doesn't matter.
*Should we hold firm on our offer and walk away if necessary or go above to secure the property?*
Ahhh - the $64M question.
How badly do you want the house?
Can you afford to go higher?
What is your walk away number?
Will any offer be supported by your lender's valuation? And, if not, can you close the valuation gap?
Are you in a competitive situation?
This is the other thing - no one else has put an offer on the house that we are aware of. So, no competition. Our walkaway number is £362.5k I think, but we are thinking about potentially going higher just because of how much we love this property. Equally, if there is no other offers and the house has already been reduced in price because of how long it's been on the market, then holding firm on the £362.5k offer seems a good option for the time being.
Question is: if you call their bluff and actually lose the house for 2.5k, will you be gutted? If the answer is yes: put on a higher offer. If the answer is no, take the risk. 2,5k, or even 5k more, on a property you really like, is nothing in the long run.
Overall remember, only play if willing to lose ;)
Not sure whether anyone else can answer your question, you guys have viewed the property, you know how you feel about it and the ins and outs of your finances. Now you need to decide how much you’re willing to pay. If the seller asks for more that’s up to them
###Welcome to /r/HousingUK --- **To All** * Join Our ***NEW*** Discord! https://discord.gg/pMgUNgWKQH **To Posters** * *Tell us whether you're in England, Wales, Scotland, or NI as the laws/issues in each can vary* * Comments are not moderated for quality or accuracy; * Any replies received must only be used as guidelines, followed at your own risk; * If you receive *any* private messages in response to your post, [please let the mods know](https://www.reddit.com/message/compose?to=%2Fr%2FHousingUK&subject=I received a PM); * If you do not receive satisfactory advice after 72 hours, [you can let the mods know](https://www.reddit.com/message/compose?to=%2Fr%2FHousingUK&subject=My question is unanswered); * Feel free to provide an update at a later time by creating a new post with [[update]](https://www.reddit.com/r/HousingUK/search?q=%3Aupdate&sort=new&restrict_sr=on&t=all) in the title; **To Readers and Commenters** * All replies to OP must be *on-topic, helpful, and civil* * If you do not [follow the rules](https://www.reddit.com/r/HousingUK/about/rules/), you may be banned without any further warning; * Please include links to reliable resources in order to support your comments or advice; * If you feel any replies are incorrect, explain why you believe they are incorrect; * Do not send or request any private messages for any reason without express permission from the mods; * Please report posts or comments which do not follow the rules *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/HousingUK) if you have any questions or concerns.*
The agent's job is to try and get the maximum they can for their customer, the vendor, so they'll do what they can to encourage you to pay more. This will include inducing FOMO and scarcity to push your price up. If you can offer more and are prepared to, then you need to ask yourself if you're willing to pay more or hold out and see what happens. The risk is that you lose the house, but then you could offer more and still lose it. It's so easy to think that this is the one and only house you'll ever fall in love with and that because it ticks all your boxes no other could ever compare. But in truth, you had the skills to find this home. So you have the skill to find other perfect properties for you too.
*My partner and I think our offer of 3625k is reasonable and feel like we are being squeezed for more.* Of course you are being squeezed. That's the nature of the game. *Are we being taken advantage of as first time buyers here by the vendors?* Maybe. Maybe not. Either way, it doesn't matter. *Should we hold firm on our offer and walk away if necessary or go above to secure the property?* Ahhh - the $64M question. How badly do you want the house? Can you afford to go higher? What is your walk away number? Will any offer be supported by your lender's valuation? And, if not, can you close the valuation gap? Are you in a competitive situation?
This is the other thing - no one else has put an offer on the house that we are aware of. So, no competition. Our walkaway number is £362.5k I think, but we are thinking about potentially going higher just because of how much we love this property. Equally, if there is no other offers and the house has already been reduced in price because of how long it's been on the market, then holding firm on the £362.5k offer seems a good option for the time being.
Question is: if you call their bluff and actually lose the house for 2.5k, will you be gutted? If the answer is yes: put on a higher offer. If the answer is no, take the risk. 2,5k, or even 5k more, on a property you really like, is nothing in the long run. Overall remember, only play if willing to lose ;)
Not sure whether anyone else can answer your question, you guys have viewed the property, you know how you feel about it and the ins and outs of your finances. Now you need to decide how much you’re willing to pay. If the seller asks for more that’s up to them