Hey folks, I’m hoping to gain some advice regarding a house purchase, so thanks in advance for any replies:)

I viewed a house last night and was shown round by the vendor. I liked the place so made them an offer a few grand lower than the asking price and left it with them. They have emailed this evening saying there have been two other offers since but I’m still in the lead. I have given them until the beginning of next week to respond as they have others scheduled to view the place over the weekend. I’m kind of thinking now that I may have been a bit hasty offering what I have, especially after consulting zoolpla which informs me the house is worth approx ten grand less than I’ve offered! If i do indeed end up offering the most, how could I feasibly amend the offer downwards with a view to purchasing the place but at a better price. I did view the place in the dark if this has any sway, but I’d like not to not too much of a barstool as they seemed like a nice couple. For what it’s worth, I did my best to disguise the fact I liked the place and made the offer in a fairly detached and business like way.

Thanks for your time and any advice would be warmly received:)

Is this Zooplas house price estimate?

Go on what houses you have seen in the area, what houses have sold for in the area, what YOU think it is worth and what you are happy with and can afford.

Hi, yes it’s their estimate…

zooplas a guess

if you came back to me and said “im offering less as zoopla says its not worth xxx”

theres a good chance id start to laugh.

its worth what your prepared to pay for it – and until you saw a guesswork number on a computer (information that incidently is worth as much as you paid for it) you were happy to pay your initial offer- had you said there turns out to be woodworm or other structural issue then revising offers down is to be expected but because zoopla says so … naw

Offer what you think it’s worth as already said….BUT if you haven’t had an offer accepted yet then you could easily amend it.

I’d take the Zoopla estimate with a massive pinch of salt. Ive just looked and mine is estimated at £25k less than my adjoining neighbours despite being extended (extra bedroom, bigger kitchen, extra bathroom) and having a much bigger garden and a conservatory. The Zoopla estimate thing even acknowledges the extra bed/bathrooms. Weird.

Two other offers in, more people viewing over the weekend? Sounds like they may be in a reasonably good position.

If I was them and you started that game you’d not hear from me again.

Not trying to be harsh at all, just saying – it would get my back up, and I’d sell it to someone else.

I’d amend your offer as soon as possible. Just say that having slept on it you want to offer less. Full stop. You don’t need to explain yourself.
However if you do intend to reduce your offer do it NOW not once they’ve turned down other (potentially better) offers.

Zoopla have mine £25k less than it’s just been valued at (by a surveyor, not estate agent).

Agree about revising your offer prior to acceptance, that’s reasonable enough.

Zoopla really is a very rough guesstimate, like others have said.

If it is particularly attractive to you compared to other houses in the same price band then you’ll probably find its a reasonable price.

If you want to lower the price (and risk losing it) then I think it would go down better to revise it now rather than after they have accepted it.

Ignore zoopla…my folks always told me a house is worth what you’re prepared to pay. And if you offered what you offered its because you liked it that much. It sounds weird but it does kind of make sense. Also the housing market is crazy at the moment. They will probably get offered nar the asking price soon. Does depend a bit on where you’re buying but if it’s within 50miles of London the trend seems to be for people getting OVER the asking Price

Two other offers in, more people viewing over the weekend? Sounds like they may be in a reasonably good position.

If I was in that position as a seller, and you lowered your offer, I would say thank you, and goodbye.