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Offering more money for property

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ThomasDietsch123

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« on: January 27, 2021, 03:20:17 PM »
Good afternoon.

Tomorrow morning we are viewing a property which is perfect fo us in everyway.
The estate agents gathers those who are interested and discuss with the landlord over who would be best suited to take the property.

I am tempted to offer an extra £25 per month. But unsure if this will make me look good and sway the decision, or might have the opposite effect and make me look bad.

Any help appreciated

Thomas

Hippogriff

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« Reply #1 on: January 27, 2021, 05:23:53 PM »
Offering the asking price would certainly imply your interest and keenness to anyone. I find that some people offer a bit less, looking for a bargain. Offering asking price means you're a straight player... everything down the line. Offering more... to me, as a Landlord... is something I would never entertain... it doesn't tempt me... I've had it happen, I've never gone that route. However, things that have worked as tie-breakers for me (apart from my gut feel about someone) is whether they seem capable in life and are ready to go.

By this I mean... be clear on when you can move in. Make it known that you won't mess around with returning referencing information. Possibly (depending on what the Deposit level requested is) offer more Deposit (up to the legal maximum). Let it be known that you already know what is in the area, for example, or that you know the Council Tax band... let it be known you've done some research. However, all that said... this would affect me as a Landlord who does their own viewings... who can say with an Agent?

Now... you're only viewing it tomorrow... you don't yet know for sure it's perfect for you in every way... so many really aren't. So please go in with a critical eye and assess sensibly afterwards. Never get caught-up in a property you won't even own. Heck, never get emotionally invested in a property you want to own... but much less so one you're going to rent.

The crux of my answer is - "I wouldn't" - certainly not tomorrow. If a bidding war ensues then you could consider it (I wouldn't because I wouldn't do it as a Landlord, but you could). Hope that helps.

ThomasDietsch123

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Posts: 4

I like property
« Reply #2 on: January 27, 2021, 05:43:51 PM »
Quote from: Hippogriff on January 27, 2021, 05:23:53 PM
Offering the asking price would certainly imply your interest and keenness to anyone. I find that some people offer a bit less, looking for a bargain. Offering asking price means you're a straight player... everything down the line. Offering more... to me, as a Landlord... is something I would never entertain... it doesn't tempt me... I've had it happen, I've never gone that route. However, things that have worked as tie-breakers for me (apart from my gut feel about someone) is whether they seem capable in life and are ready to go.

By this I mean... be clear on when you can move in. Make it known that you won't mess around with returning referencing information. Possibly (depending on what the Deposit level requested is) offer more Deposit (up to the legal maximum). Let it be known that you already know what is in the area, for example, or that you know the Council Tax band... let it be known you've done some research. However, all that said... this would affect me as a Landlord who does their own viewings... who can say with an Agent?

Now... you're only viewing it tomorrow... you don't yet know for sure it's perfect for you in every way... so many really aren't. So please go in with a critical eye and assess sensibly afterwards. Never get caught-up in a property you won't even own. Heck, never get emotionally invested in a property you want to own... but much less so one you're going to rent.

The crux of my answer is - "I wouldn't" - certainly not tomorrow. If a bidding war ensues then you could consider it (I wouldn't because I wouldn't do it as a Landlord, but you could). Hope that helps.

Thank you very much for your honest feedback.
I guess the best way will be to just go to this viewing be ourselves. Whatever will be will be.
We have been given 6 months by our landlord as he's lost his job and is selling the property.
We are lucky we have the 6 months, and although this property looks 'perfect' to us, you are right that we have not yet seen it in perfect.
I'm sure we have as good a chance as anyone else. And there will be others of not this one. We have until July 21st
Thank you

heavykarma

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« Reply #3 on: January 27, 2021, 05:52:44 PM »
I have never been offered more money,and I am not sure how I would react.It might make me wonder if the person had been turned down before,and was a bit desperate.Someone that I would always favour is a person  looking to settle in,as opposed to renting there while they decide to buy somewhere or get a better job etc.Longterm tenants are highly sought-after.

ThomasDietsch123

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Posts: 4

I like property
« Reply #4 on: January 27, 2021, 06:06:28 PM »
Quote from: heavykarma on January 27, 2021, 05:52:44 PM
I have never been offered more money,and I am not sure how I would react.It might make me wonder if the person had been turned down before,and was a bit desperate.Someone that I would always favour is a person  looking to settle in,as opposed to renting there while they decide to buy somewhere or get a better job etc.Longterm tenants are highly sought-after.

Thank you for the honest advice, I certainly wouldn't want to look desperate and that's why I seeked advice before doing so. We fit the bill for long term tenants, I guess we should just make sure they know of that intention, and whatever will be will be.
Thank you

Hippogriff

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« Reply #5 on: January 28, 2021, 03:04:54 PM »
I should have got back on this before your viewing... but the key to what you say is knowing your audience... for example... long-term Tenants... every Landlord's wet-dream, right? Mostly. The vast majority. It's a good bet. But is the same true of an Agent (who represents a Landlord, and is supposed to represent a Landlord's interests)? Probably not... because the Agent gets little kickers to the money they receive when there's a new tenancy arising (from the Landlord) in various tenancy set-up fees etc..

So be careful in what you advertise openly to different parties... you thinking of saying you're fantastic long-term Tenants would go down really well with me, for example, but if I had an Agent who stood to rake in £1,000 each time the Tenants changed... not so much. This is where there's a potential deviation in - what to you - is supposed to be a single party (the Landlord and their Agent).
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