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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Vendor taking a long time to decide on offers
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A couple of days is normal. If they had a viewing on the weekend they may be waiting for feedback. And as others have said they could be playing you to try and get you to offer more which again is normal.0
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I already have a few red flags that the vendor might drag their feet with selling as their motivation for moving doesn’t sound solid and at the viewing they said they haven’t seen any properties they are interested in yet.
In relation to the above, there are many people on here who wont even let someone look at the house they have for sale until theirs is sold and they are proceedable with DIP etc and the EA has checked their finances. Others say not to look so you dont fall in love with a house and it sells before yours does.
In relation to the couple of days to reply, if there is a lot of offers coming in, it may mean the vendor needs to carefully think about every offer and the merits of each potential buyer - FTB / small chain / mortgage in place and ready to move asap.
House buying is soul destroyingly slow and fustrating. The only way to survive it with as few frayed nerves as possible is to treat it like an ebay style purchase (as a business transaction only).0 -
To be blunt I think you’re being incredibly impatient and more than a little unreasonable. Bare in mind that sellers consider the buyer as well as their offer. I’d be very worried about a buyer who was pressuring after a couple of days at the offer stage, especially if I was still looking for a purchase. A lower offer from a more relaxed buyer might seem like a better option.0
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Days to decide on offers is nothing. It may take them months to find an onward purchase.
So the buying/selling system needs change;
Provision 1 should be that offers are made including an entry date, such that when the offer is accepted, the seller accepts they will hand the house over to the buyer on that date
Provision 2 is that the offer contains a limit date. "I offer you £X, with this offer to be accepted or declined before close of business on dd/mm, and if not accepted, it will be deemed to be withdrawn"
Scotland embraced both a long time ago ...0 -
shortcrust wrote: »To be blunt I think you’re being incredibly impatient and more than a little unreasonable. Bare in mind that sellers consider the buyer as well as their offer. I’d be very worried about a buyer who was pressuring after a couple of days at the offer stage, especially if I was still looking for a purchase. A lower offer from a more relaxed buyer might seem like a better option.
+1, especially the "red flags" that the vendor might "drag their feet"... As a vendor, I'm not sure I'd entertain any offer, or even further correspondence with the OP, either at or above the asking price - some customers are simply more trouble than they're worth.0 -
I viewed a house I really liked and made an offer for 8% below the asking price (based on the price slightly similar proprieties in the nearby area had sold for). This offer was rejected by the vendor 2 days later. I made another offer the next day and 2 days later they rejected it. I put in my third and final offer for the full asking price on Friday morning and now I’m still waiting to hear from the vendor. I called the EA this morning for an update and they said they were planning to chase the vendor up as the vendor had all offers in now and were deciding and would hopefully get back to me today to let me know. I didn’t receive any news.
3 offers in a week up from 8% under to asking.
they will have you marked as very keen lets squeeze a bit more off them.0 -
The EA called me today to update me that the vendors still hadn't made a decision and apologised for the long wait which was very kind of them and validatng.shortcrust wrote: »To be blunt I think you’re being incredibly impatient and more than a little unreasonable. Bare in mind that sellers consider the buyer as well as their offer. I’d be very worried about a buyer who was pressuring after a couple of days at the offer stage, especially if I was still looking for a purchase. A lower offer from a more relaxed buyer might seem like a better option.
I think you're projecting your own stuff here. Where in my post have I said anything that indicates I'm putting pressure on the sellers? :huh: Have I made pointless threats? Have I bombarded the EA with numerous phone calls everyday? Have I gone round to the vendors house and nagged them to make a decision? Nope I simply made some offers and called once for an update and then posted a thread on here to see if waiting for days after each offer was the norm. If you consider that pressure then good luck with selling.ReadingTim wrote: »+1, especially the "red flags" that the vendor might "drag their feet"... As a vendor, I'm not sure I'd entertain any offer, or even further correspondence with the OP, either at or above the asking price - some customers are simply more trouble than they're worth.
And some sellers are more hassle than they are worth. As I already explained there are numerous threads on here where sellers have wasted buyers time by taking several months to find a property only to change their mind about selling leaving the buyer out of pocket. There has been lots of advice about how to spot such sellers. So having a seller say ' we don't really know where we want to move to or what we're looking for yet' is obviously going to raise red flags for any sane person considering buying. If someone is putting their house on the market it's not unreasonable to anticipate that they have an idea about how they might move on.So the buying/selling system needs change;
Provision 1 should be that offers are made including an entry date, such that when the offer is accepted, the seller accepts they will hand the house over to the buyer on that date
Provision 2 is that the offer contains a limit date. "I offer you £X, with this offer to be accepted or declined before close of business on dd/mm, and if not accepted, it will be deemed to be withdrawn"
Scotland embraced both a long time ago ...
I agree that would be a good system.Homeowner:j0 -
And some sellers are more hassle than they are worth. As I already explained there are numerous threads on here where sellers have wasted buyers time by taking several months to find a property only to change their mind about selling leaving the buyer out of pocket. There has been lots of advice about how to spot such sellers. So having a seller say ' we don't really know where we want to move to or what we're looking for yet' is obviously going to raise red flags for any sane person considering buying. If someone is putting their house on the market it's not unreasonable to anticipate that they have an idea about how they might move on.
That is indeed also true. However, you can't buy unless or until they sell, so they hold all the cards. You can rant and rave all you like, but you have to dance to their tune, so suck it up. That said, I'm glad you felt validated by the Estate Agent - they are indeed a noble profession, fabled for their honesty.
Sanity and reason don't come into house buying, merely what you agree with the vendor, so if you can't come to an agreement with this vendor, find one you can come to agreement with. However, if you find you can't come to an agreement with any vendor, perhaps the problem doesn't lie with the vendors...0 -
ReadingTim wrote: »That is indeed also true. However, you can't buy unless or until they sell, so they hold all the cards. You can rant and rave all you like, but you have to dance to their tune, so suck it up. That said, I'm glad you felt validated by the Estate Agent - they are indeed a noble profession, fabled for their honesty.
Sanity and reason don't come into house buying, merely what you agree with the vendor, so if you can't come to an agreement with this vendor, find one you can come to agreement with. However, if you find you can't come to an agreement with any vendor, perhaps the problem doesn't lie with the vendors...
I don't know why some people on this forum can't offer advice or comments without denigrating posters or being hyperbolic about their responses. I'm not ranting and raving, I'm merely annoyed at most - there's a huge difference. The EA's have been fab so far and I can't fault them, I give credit where it's due.Homeowner:j0 -
I don't know why some people on this forum can't offer advice or comments without denigrating posters or being hyperbolic about their responses. I'm not ranting and raving, I'm merely annoyed at most - there's a huge difference. The EA's have been fab so far and I can't fault them, I give credit where it's due.
And I don't know why other people come on this forum ask and questions then throw their toys out of the pram and have tantrums when they don't get the answer they're looking for.
As you've been told once already, you asked for some perspective, and you got it. If you don't like being told you're being impatient, don't ask if you're being impatient.
Anyway, good luck with the house purchase. It sounds like you'll need it.0
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