Dear Diary #4: Should I Make An Offer Or Play The Long Game?

Buying property strategy

Dear Diary,

The last time I checked in I confessed that I may have discovered the one. She’s very decent looking.

Not earth-shattering by any means. Very decent.

She’ll make a fine addition to my non-existent BTL property empire. Rome wasn’t built in a day.

I say “confessed” because it’s been three days since I saw her, and I still haven’t told my estate agent that I’ve been won over.

Is playing ‘hard-ball’ really a legitimate strategy in the world of property acquisitions, which can lead to riches, or just a sure-fire way to miss out on a golden opportunity?

Another confession: playing hard to get has never worked in my favour in all my other past pursuits, so I have zero success rate with it.

Here’s what running through my naïve mind:

  • I want to make an offer on the property, but below the current asking price (£164k). Yes, I want to low-ball the vendor with £155k. My concern is that if I act too soon, the vendor may smell my desperation and hold firm. So maybe sitting on the bench for a few days may pay dividends.
  • I don’t want to miss out, I like the property! I know that the longer I play it cool, the greater the chance of someone else swooping in and snatching it away from right under my nose!
  • Maybe I’ve watched too many property TV shows and overthinking it all. I should just make an offer and go from there. This isn’t ‘Homes Under the Hammer’ afterall!

I’ve been in touch with Stuart (my agent) today; he’s scheduled for more viewings with a few other properties. He also mentioned, very casually, that other buyers’ have been eyeing her up.

My heart skips a beat or twenty.

Is he simply keeping me informed just because, or does he know? Did he see through my poker-face? Or was he just doing what agents do and create artificial demand, tempting me into showing my hand?

Either way, I had to act quick – he was on the other end of the phone – I decided to continue the charade and acted disinterested. I just as casually skipped past his update on her, and enquired about the other properties he had lined up.

I think he fell for it.

But the question is, how long do I continue this bluff for, and will it even make any damn difference?

I think there’s a good chance I might be playing on my own over here.

I’ll carry on playing either way.

Ignorance is bliss!

Join the Conversation...

Nobody

Nobody

Landlord

Landlord

Tenant

Tenant

Agent

Agent

Legal

Legal

Buyer

Buyer

Developer

Developer

Enthusiast

Enthusiast

Your personal information will *never* be sold or shared to a 3rd party. By submitting your details, you agree to our Privacy Policy.


Popular Landlord Categories

Tweet
Share
Share