How to get your low offer accepted

[@MovingHomewithCharlie]

Here's my free First Time Buyer Offer Email template (for buyers with a mortgage) mhwc.co.uk/suggested-email-template-for-first-time-buyers-making-an-offer-with-a-mortgage/

[@davejohnston5158]

My hypothetical technique is to get a good friend to go in and make all the right noises but put in a low ball offer. The vendor rejects it and expects a raised offer -but doesnt get it. After letting them stew for a few weeks with no further viewings or offers regret may set in. At that point you move in and make an offer slightly higher! The whole process is about managing expectations.

[@rogueralph5941]

I followed your first time buyer template and got my offer accepted 9% under asking price, thank you Charlie

[@MovingHomewithCharlie]

That’s amazing news thank you so much for telling me!

[@martinhammett8121]

My daughter had all in place, from offer to completion 6 weeks !

[@Leo_Lise]

Wow!

[@princeandrew5430]

Being born into royalty also works! Haven’t had to pay a penny for property… haven’t had to lift a finger either 😂

[@sevecc939]

You should try prison. You get free food too.

[@AM_o2000]

Surely you'd prefer a nice 14-year-old house to a 300-year-old palace.

[@Davetherave420]

Sound advice as always.

[@MovingHomewithCharlie]

Glad you think so!

[@geirarnesen6531]

Excellent advice Charlie 👌👏

[@ruthie2222]

Thanks Charlie. Eekkk, great advice, but I do get overwhelmed 🤣🤣🤣 I’m hoping this will be little old me doing this next year, fingers crossed 🤞

[@MovingHomewithCharlie]

You can do it!

[@ShaneJackson]

Amazing video Charley thank you for your hard work!

[@MovingHomewithCharlie]

My pleasure!

[@sylsuthss]

Thank you Charlie for this. I better start looking for a solicitor to prove my deposit. Was going to put an offer on a house, thankfully I took pictures and discovered the roof had missing tiles and a lovely hole as a result. The agent didn't seem to care when I pointed this out.

[@MovingHomewithCharlie]

Go for it!

[@lugo_9969]

Excellent advice....as always ❤

[@aidanapword]

Your response of the HP vs salaries is worth book marking IMO.

[@devsip2277]

Your content and the format helped us to get our first ever offer accepted under 11% of the listed value but one thing i learned that search pack is only required when it’s an auction property.

[@MovingHomewithCharlie]

It's also required if buying with a mortgage. All lenders required a search pack. Congratulations on your accepted offer!

[@devsip2277]

@@MovingHomewithCharlie Strange, the estate agent told me this that it’s only required in auction properties. .

[@zoranj364]

Thanks for this Charlie, super useful - I bet agents hate you, well at least scummy ones which is like 80% of them

[@vidya035]

Great advice as always Charlie. Thanks for making these videos. Couple of questions: 1. Is it OK to say 'first and final offer, subject to valuation'? 2. What are things that need to be considered for coming up with an offer price in a falling market. Thank you 🙏

[@MovingHomewithCharlie]

1. Yes it's fine to say that, you should also add "subject to contract" 2. Roughly, work out what price you expect it to be worth when prices have finished falling, then add back in what it would cost to rent a property like that between when you move in and when prices reach the bottom. That would be my rough approach.

[@frog-eye1420]

I made four low offers that were rejected until a figure came back that both sides agreed on still lower than a previous offer that had been turned down weeks prior by another interested buyer

[@richardlongmuir8348]

Hi Charlie,most amusing with your wing man last night……..I’m a cash buyer but not looking to purchase until May onwards next year,in terms of proof of funds what is the best way to demonstrate this,obviously wouldn’t be keen on showing bank deposits etc.Cheers

[@barrycrump6189]

As a semi-professional gambler who makes on average six to eight very large bets on the horses a year, I always find it difficult to prove the source of this part of my overall income.

[@MovingHomewithCharlie]

Whatever you show them is confidential. They deal with many people with large amounts of cash so there's no need to worry about sending a screenshot of a bank balance or equivalent. The idea is not that you're providing verifiably proof (a screenshot isn't that) but that you're showing you are, most likely, in funds, and therefore are showing your preparedness above others who don't. You're making it easier for them to accept your offer.

[@ghamith]

Bro thank you for this

[@craigcarter4409]

Charlie would you ever consider doing a template offer letter for your subscribers? I think this would really help people, including myself.. Just a suggestion

[@MovingHomewithCharlie]

Yes

[@BossSaruDave]

Really helpful. Should you also mention the factors that informed your offer (i.e. sale prices of other similar local properties sold locally, renovations required, etc), or would agents simply not care about your reasoning? On the one hand it might make an offer look more credible as it is based on a methodology, but on the other I expect an agent already know what a property is worth so does not need to be told this by a buyer.

[@vidya035]

In one of his earlier videos Charlie has suggested there is no need to justify your offer.

[@stephengreen2626]

Getting a patronising lecture on top of a disappointing offer is not welcome. Do you expect them to bond with you and be friends for life?

[@BossSaruDave]

@@stephengreen2626 I never said it had to be patronising. It could be professional, brief, and support the agent if they are trying to encourage the seller to accept an offer below their expectations.

[@archersreview]

@@BossSaruDave yes exactly this. Doesn't need to be some grand explanation, but if there is a genuine reason on why you are offering less then I see no issue with it.

[@MovingHomewithCharlie]

Never worth putting in an explanation of your offer amount. 1, they don't care what the reasons are and 2. It gives them information with which to counter your reasons.

[@OfficialFoshiznik]

How do you get a home buyers pack/search pack without knowing the property if you recommend having this in place before making the offer? Do you just go to someone and ask them to be on standby or something, similar to a solicitor?

[@eugeniumelnic9218]

Did all of that but sellers just won't accept lower than a certain level, at the end got the house below asking price but not as low as we would like it to be.

[@indiavan7986]

Charlie I watched a previous video showing how much variance there is with estate agents on valuations. This happens before appointing and the marketing etc let alone the way agents handle cheeky offers ( way below a valuation) Now your advising on how to get successful lows bids . When i pay an agent to sell I pay them to sell and act in my interests. Not become the buyers best mate and get him a discount which seems to be the way the English market works. Its also why the market is a joke. Try buying a top end tv from curry's shown on sale at £1999.00 for a reasonable 1500? To become a voice on both sides of this system worries me. Chancers all expect massive discounts agents who over price encourage offers way lower ? What's that about ... proper valuations.... that's the price.. its fair can't afford it ... don't try. Any thing less causes delay time wasting changes of heart etc etc . Like the style and advice is sound except the conflict of fairness. .

[@noelineclancy2671]

Thank you as always good work

[@villagerintheshire]

This is gold.

[@ShaneJackson]

Could you do a sample email we could download?

[@MovingHomewithCharlie]

Yes, I will

[@SaAb-sh2xp]

Great video thank you

[@stevo728822]

Very few of us are trained at valuing property. Very few of us are trained in the art of negotiation, particularly with transactions amounting to 100's of thousands of pounds. If sellers have an experienced agent to assist their sale....why is it that buyers do not have an equivalent experienced agent to assist their purchase? Someone who negotiates on their behalf.

[@MovingHomewithCharlie]

Because no one wants to pay for that!

[@Bubbles77418]

I'm sure they are available, at a price! Failing that, give Kirsty & Phil a shout 😉

[@stevo728822]

@@Bubbles77418 Phil actually lives not far from where I live.

[@stevo728822]

@@MovingHomewithCharlie Depends how much it would cost. If the price of the service is £500 but it knocks down the price by £10k then it's worth it isn't it? Why does a seller pay for an estate agent unless it's to gain a higher price than they could get themselves?

[@propertysearchesdirect]

Engaging with agents on behalf of clients is something that out CEO has done when asked. If you're going to buy our Searches of course. We don't have a business of sales don't get agreed. Last month he got the full back story, marketing activities viewings and offer history on a property and then managed to get an offer agreed for one of our clients.

[@zyxwvu]

Thanks Charlie

[@RealLifeFinance]

What are search packs?

[@Bubbles77418]

The bit that you pay your conveyancing solicitor for (usually) land registry searches, council searches e.t.c

[@ruthie2222]

Was thinking the same 😊

[@propertysearchesdirect]

www.propertysearchesdirect.co.uk/what-are-searches

[@MovingHomewithCharlie]

Here's the video that answers that question: kzbin.info/www/bejne/naLVc4KQer-Jm9k

[@kash5741]

Hi Charlie. I've watched your search packs video previously and am a little confused. There was a link, which showed that my local authority times were shorter, so is there any benefit in getting the search packs and what are they?

[@danieljhc1]

you can talk with Property Searches Direct, who partner with Moving Home With Charlie and can ask for a bespoke pack quote that includes a council sourced search if that is the quicker option for your area.

[@aw3839]

Can you state the conveyancing company rather than a link to put confidential information online /via portal

[@mdh81]

Love your content Charlie and good advice but unfortunately we're still very much dealing with estate agents / sellers who think the market is strong and that houses are 'priced to sell' despite being on the market for 4+ months without a single reduction in that time! Despite having ticked all your recommendations (other than search packs) but with us chain free we're not far off being laughed at for offering 10% less on a house that's been on the market for months. I think we'll just be using Property Log going forward and view/offer on those houses where sellers clearly are bothered about selling.

[@archersreview]

Very much agree, had offer rejected this week. Did pretty much everything mentioned by Charlie (as I have done consitently), but the property was originally on for £20k over the current asking price. In the buyers mind they have already "priced in" the reduction. It's been on the market since May. Should say, I agree with everything said in the video, but some sellers simply don't want to entertain lower offers and so doesn't really matter what you do or say.

[@mdh81]

@@archersreview good to know it's not just us with the same experience but it is extremely frustrating/a waste of time and is seemingly pot luck in finding a seller who is actually motivated to sell their property. The other feedback we've had is 'we've gone with the lowest of 3 property valuations to be competitive in the current climate' - yet not had a single offer in 4 months or reduced the price a penny in that time. Unfortunately despite having an approved mortgage good to go and being chain free sellers would rather hold out for an extra £20k (~4%) from someone in a chain who can't even sell their own property - think we'll just be waiting into 2024 now and binge watching Charlie's videos in the meantime.

[@MovingHomewithCharlie]

Remember, if you offer by email, they can't laugh at you!

[@roseofsharon892]

I had exact same experience. Had estate agent change their valuation to lower than the inflated one they gave. They ignored what I asked to sell for and put it up way too expensive

[@Isabel-of4wq]

In Scotland do I have to submit bids through my solicitor?

[@garyvarty8154]

I know you have been a tenant for many years and I know you give advice to people on buying property my question is have you ever owned a property yourself

[@garyvarty8154]

@fjcruiserdxb his first flat he has come a long way then since he was 21 hasn't he the perfect person to advice others

[@MovingHomewithCharlie]

I’ve bought 4 times.

[@garyvarty8154]

@@MovingHomewithCharlie that's really good idea have a lot of respect for a man who is able to provide his family with long term security

[@mikedennington8856]

Years ago I went to an agent, said I am cash buyer, no chain needed. He said fine took me to a nice listing, the vendor was there and I liked it and said yes this is fine and I want to make an offer. Vendor heard it and said, great I can move to find a place!!!!!!!!!!! I turned to the agent and said no chains..................what a loada bs I got from the agent, so walked off and never trusted agents ever again never ever.

[@MovingHomewithCharlie]

Don’t judge all agents the same!

[@puddle_puddle]

My 10 year old boiler needs a repair (few hundred quid), but I'm wondering if it's true that a new boiler with 10 year warranty etc adds real value to house price as I'm looking to move in a year or two, even a 1% increase in house price and a new boiler will have paid for itself. Thoughts?

[@MovingHomewithCharlie]

A new boiler will increase the desirability of the home, which should increase interest and likelihood of competing buyers. Impossible to know for sure, but seems like a no brainer. Like fixing a fault on a car before selling it.

Hi Charlie - this is super helpful! We will be second time buyers, so the whole 'middle of the chain' is new for us. I saw a comment below that said we shouldn't put an offer in until we have our house on the market and SSTC. Is this still the case? We are looking at a house that's been on the market for months and was reduced about 3 weeks ago. It's still on the market. We're thinking this may work in our favour for a lower offer? We would also look to sell our home with the same estate agents for a smoother process (luckily they're highly regarded in our area). And second question - if you say first and final offer and they decline, does that mean you pull out, even if you're willing to go slightly higher? I would think they wouldn't take you seriously after that. Thanks so much!!

[@BILLY-O-1982]

Hi Charlie. I know you aren’t an investment guru but you answer your comment section so here goes… I have the opportunity to mortgage my house (which I don’t live in, I travel now, long story). I want to get further mortgages on STL accommodation in Manchester and Liverpool. I’m aware that in real terms house prices have fallen by 12% and also that the worst ever comparable real terms drop was at about 17% during the 2008 financial crisis. I am also aware that whilst inflation is still relatively high it is well on the way down now. I am aware that grain ships have started arriving in the Ukraine which is a big factor in current inflation. I can make 10% net pa on the STLs and my own property as an AST which is currently tenanted will wipe its face. Feel free to correct my facts as I’m doing my best. Good idea? Bad idea?

[@tamasveingartner4976]

what is a search pack, what does it contain and where and how to buy it?

[@MovingHomewithCharlie]

Glad you asked! mhwc.co.uk/property-pack/

[@chrisdickinson4576]

I 100% agree about making a single offer on what you think it is worth and that is within your budget. It will show the estate agent and seller that you are not there to play games and they can decide to take it or leave it. Estate agent will try to push up your offer but once they get the impression you will not shift on it if they think it is the best offer they will get they will try to persuade the seller to accept it since they want to get paid.

[@remysadventures3493]

Charlie. I can’t see the links that were out in. Can you help?

[@MovingHomewithCharlie]

They’re all there in the description! Also all at mhwc.co.uk

[@anthonyackroyd8472]

In this market I would make the low offer, have it rejected, walk away then wait for the estate to negotiate his client down.

[@3wisemenadeyi808]

In our case we are selling our current home to fund purchase of the new property however we are not prepared to sell until we have another home to move to with our large family. Unfortunately, most of the sellers we've seen wants us to have our property on the market first before they would consider our offer especially when we are offering below asking price. What do you think is the best thing to do in this case. Thank you

[@stephengreen2626]

That’s a scary abyss to jump into but you are bringing a piece of string to a chain party. Are you ready to go on the market or are you “just looking”?

[@Bubbles77418]

Even in a rising market, this is somewhat frowned upon and most agents won't even entertain the idea. In a falling market, not a chance! Study Rightmove & make a shortlist, by all means but don't bother trying to view anywhere until you've at least put yours on the market and better still be SSTC...... that could take months at the moment.

[@MovingHomewithCharlie]

You need to have your home “sold subject to contract” before any other seller will accept your offer as proceedable. You’ll need to make sure that your buyer understands that selling your property is 100% contingent upon securing a purchase for your next home.

[@Asif-88]

Shouldn’t we get done the property survey first before solicitor start working on search pack ?

[@MovingHomewithCharlie]

Doing it like that is what causes the delays. The only potential advantage is saving the cost of a search pack if the survey shows problems. It makes more sense to risk the price of the search pack at the beginning. False economy to risk deal fall through instead.

[@Asif-88]

@@MovingHomewithCharlie thanks mate, agreed as it also gives some confidence to seller on the other end that the process is moving ahead without any delay 👍

[@welshhibby]

My wife’s boyfriend gave me exactly the same advice.

[@ruthirwin8222]

What is a conveyancer

[@MovingHomewithCharlie]

The legal firms that process the legal transfer of ownership of property when it’s bought or sold. Both buyer and seller need their own separate conveyancing representation

[@ChubbyChecker182]

Do it the Vito Corleone way

[@mikeandrewhayden1699]

Charlie house prices are still rising???

[@MovingHomewithCharlie]

No they’re not.

[@Dan-xy8li]

Lets say you have cash to buy at the price, what evidence would you put? If its spread across accounts, submit (redacted) statements of them all?

[@MovingHomewithCharlie]

I'd show the evidence to my lawyer (conveyancer) and ask them to confirm in an email that they have seen evidence of sufficient funding for the transaction.

[@chrishockaday8825]

Hey Charlie, likely a stupid question, but for you or anyone on the comments do all of the points you mentioned also apply with buying a new build from a developer?

[@MovingHomewithCharlie]

Yes, all the same. They’re looking for committed buyers as much as any other seller.

[@AverageBob]

Since its possible your accepted offer might trigger other people to put in a higher offer, would it be better to wait a few days before paying for the search pack?

[@Bubbles77418]

Once an offer has been accepted it's usually the case that the agents don't allow any more viewings & the property is marked SSTC! If the vendors don't agree with this then you don't want to be buying a house from them!

[@MovingHomewithCharlie]

Agents will use offers to procure more offers but not normally after an offer has been accepted.

[@ruthie2222]

Otherwise, is this know as Gazumping 😔

[@crivsmum4820]

but happens, sadly; happened to me and my brother, separately but at the time the properties were selling too easily which made agents greedy and complaisant, a bad combination @@ruthie2222

[@tomconx3075]

Out of curiosity to your viewers, in nominal figures how low are people asking? What difference from AP to offer?

[@stephengreen2626]

I have 3 offers from people offering 10% less. I have declined these and got them up marginally. The properties were priced to sell. I also offered £475 against a £500k property and my offer was dismissed. I later heard that they received a lower offer which they also declined. Even if they came back to me which they never did, I am no longer interested. It was a probate property. If you get between 10 & 20% off you have done well. Hope this helps. There is a gap between what should be and what is.

[@Michelle-72]

I'm a cash buyer with everything in place and I still can't afford to buy a property in my favourite place close to where I am now in Bradford. I am losing hope. Most sellers are holding out. Lots of cash buyers are waiting in the wings for a property in the same area, so I'm up against them.

[@MovingHomewithCharlie]

That's a common problem in some areas. Have you made any offers at all yet? If so did you use my template? I've had followers who succeeded with lower offers than other bidders by showing they were ready to proceed faster than other buyers, even cash ones. mhwc.co.uk/suggested-email-template-for-first-time-buyers-making-an-offer-with-a-mortgage/

[@Michelle-72]

@@MovingHomewithCharlie I have made offers. I didn't get into any bidding wars, just best and final offer. I didn't use your template. The estate agents know me, particularly one in my chosen area. He knows I'm a cash buyer. Lots of sold signs going up, but not everywhere.

[@a1ex-p-yt]

Quick question Charlie, we’re in a situation where our offer was accepted in May. The property is tenanted and they were due to vacate August 1st, but have essentially refused to leave until they find somewhere. They were scheduled to move out again on Sept 10th, and now Oct 26th. The vendor has apparently seen a signed tenancy agreement to prove this. Our offer was a bit generous back in May, would it be fair to renegotiate our offer, given the time that has passed and how the market has changed?

[@MovingHomewithCharlie]

It may or may not be fair, but that doesn’t matter. All that matters is whether or not the seller will accept a renegotiation, or decide to withdraw from selling to you. There’s never any way of knowing. Hence, only renegotiate if it’s because you’ve decided that you absolutely will not proceed unless it’s at your new, lower maximum price, and that you’d walk away otherwise. Don’t renegotiate just to save a few thousand quid that otherwise you’d have been happy to pay.

[@a1ex-p-yt]

@@MovingHomewithCharlie Completely fair, and something I know you’ve said on here before!

[@christopheradderley6902]

“Professional trained negotiator” 🤣🤣🤣 … I’m crying.

[@MovingHomewithCharlie]

It's exactly that kind of arrogance that they love. When a buyer underestimates an estate agents negotiation skills, it's like taking candy from a baby for them. It's deeply foolish to underestimate your counterpart in a negotiation. A real rookie mistake.

[@christopheradderley6902]

@@MovingHomewithCharlie Your generalisation is humorous; whilst some people have years of experience, many have shortly left school. Notwithstanding, people can only “love” what they are aware of unless you tell them to their face? Is that the ‘rookie mistake’? 😂😂

[@mohsinalam7400]

Hi Charlie do you have an example email/template? I’m about to follow your way to offer this week 8/01/24…

[@MovingHomewithCharlie]

Yes, Google first time buyer offer email template mhwc and my one comes up

[@nicky_nike]

What happens when 16 weeks pass after the offer is accepted and RICS down-values the property by 7%?

[@MovingHomewithCharlie]

Talk to your mortgage broker, if the seller accepts the down valuation. If they don’t the sale is dead.

[@andrzejandyaris6465]

Thanks fantastic advice I’m going to try it in few days as I’m interested in a bungalow that’s been in the market for several months. Andy Zed 😁

[@missjane782]

The man cave is coming along nicely 🙂

[@barrycrump6189]

If you were lucky enough to win a property that was offered as collateral in an informal gamer of poker what are the legal implications of having the deeds simply signed over to you?

[@MovingHomewithCharlie]

Tax implications, plus all the associated assets and liabilities that come with the property I’d imagine

[@richardliiddle1032]

Most estate agents won't entertain you without a mortgage in principle

[@MovingHomewithCharlie]

Unless they have an in house mortgage broker

[@richardliiddle1032]

It stops time wasters aswell

[@DJLalr]

Best method to get my offer accepted is i transfer £2000 to seller solicitor immediately on acceptance of my offer which is non refundable to me with a contract in place to exchange within 4 weeks (2 weeks if my solicitors had got the legal pack). There is nothing like putting your money where your mouth is...got some cracking deals with this method, but you need to know what you doing when you spot the right property....

[@Leo_Lise]

Hmm I like the sound of this approach. Would you agree a 4 week exchange with your conveyancer beforehand I.e once you’ve found one? And get this written into your paperwork / contracts with them. Is that enough time to get a structural survey done on the property? What if the seller pulls out, would you recommend this method to a FTB? Sorry for a million questions 🫣 This sounds good!x

[@DJLalr]

@@Leo_Lise The seller is not able to pull out as long as you meet the time frame set in the contract. You need to use a really experienced solicitor who does this day in day out. If first time buyer then find an experienced solicitor and a really good mortgage broker who can guide you to a realistic time frame to work with....make sure you can complete and exchange within a good time frame and get it done..

[@Leo_Lise]

@@DJLalrthank you so much. This is very helpful 😊

[@kimchi_b]

Great tip!

[@sallycardew785]

The Jeremy vine show often invites Carol on. She shouts over and interrupts others and provides no evidence to support her often extreme views, I tend to switch off for such episodes. She isn't the only one either.

[@jacobbear8533]

NASA t shirt and a globe, wow. Do you believe that they drove cars and played golf on the moon then, back in 71? I was under the impression that you engaged in independent critical thought . Good analysis of the housing market however .

[@MovingHomewithCharlie]

I don’t believe anything I haven’t witnessed myself!

[@stephengreen2626]

They always drive Rovers. Makes you proud doesn’t it.

[@jacobbear8533]

Great sentiment. The Socratic method. I am intelligent because I know I know nothing