find out about refused offers

ellisbell

I thought that if a property is marked "under offer", rather than "SSTC"", then this means that the seller has accepted an offer, but the would-be buyer is not yet in a position to proceed i.e. has not sold their own property.

Doozergirl

Under Offer and SSTC are exactly the same thing. It's whatever wording the agent chooses to use - there are no rules regarding what phrase to use when.

Doozergirl

nykmedia wrote: »

Wouldn't 'under offer' mean exactly as it says, the property is under offer - someone has offered x amount for the property and is awaiting a final decision. If it was me, I'd contact the EA and ask for the closing date; I'm assuming that closing dates are relevant regardless of location?

No, closing dates only in Scotland!

jay11_2

We had 3 'under offer's' when selling:
1) buyer changed their mind about the area (was before the recent downturn in the market)
2) FTB over optimistic about finances, couldn't proceed
3) Sale went through

It means an offer's accepted but no contracts are signed, SSTC is usually whats put on the board not the website...no idea why the difference

daveyliver

Doozergirl wrote: »

How do you know what a fair offer is without viewing a house?

So if a house is up for £148,000 and someone has offered £146,000 but been turned down, why would I waste my time and theirs viewing when I would probably offer less anyway in this climate. Now if someone offered £130,000 but I liked the house pictures and had a mental note to offer £138,000 I would view it??? This is what I mean.

daveyliver

Lunar_Eclipse wrote: »

My first thoughts exactly. Sounds more like shopping beyond the budget (been there) or in search of a heavily discounted bargain. I'm not sure 'a fair price' is much use anyway since a house is worth what one buyer is willing to pay, but must be acceptable to the seller. Good point about minimising time wasting however. Yet very head over heart in approach; never good in my experience. The heartfelt house purchases are better IMO!

Not shopping beyond budget at all, the house im thinking about is up for £125,000 my budget is £150,000 and 60k of that is my deposit. Its very old fashioned and I think the old lady who owned it died. Just by looking at the photos you can see it would need a new kitchen, bathroom, gas fires removed, replastering throughout, new flooring throughout and possibly new central heating.

now if I were to offer £117,000 I could use 30k of my deposit to do it up to a decent standard, but why waste everyones time if the seller refused say £123,000

jay11_2

We refused an offer £7,000 over the asking price, because the guy was 'odd' for want of a better word, a number of factors played into it--lovely neighbours, etc. plus a strong feeling that he might try to gazunder us, and even if he didn't we have to live with our consciences! This was in '05 so no credit crunch. We later accepted an offer £5,000 under, but have no regrets at all. So who knows, sometimes people want to sell to someone they feel comfortable with---being gazundered can't be fun!

redcar_2

Someone might turn down an offer but then later regret it and therefore accept the same offer or even lower from you. You are assuming the exprience of having a low offer made - even if rejected - will not affect their mentality. You may miss out if you use what they have refused in the past as a strict guide to their future behaviour.

mrsukyankee

The house that we are buying had two 'under offer' signs up that were dropped - both time the buyers couldn't get a mortgage. The sellers also turned down offers (a month or so earlier) well above what we put in...which I think they regret turning down cause by the time we went in, they were a bit more desperate and we got the house for less than we would have originally offered a few months earlier.

dubsey

If it was under offer on rightmove then turned to available a few days later there could be many reasons. They could have had a MIP that had just expired and couldn't get as good a deal as before. If it was under offer on rightmove for longer it could also be that a survey has picked up some things that the buyer or their lender was unhappy about.

You are not wasting anyone's time by viewing a property that you are in a position to buy and are genuinely interested in. If the property is empty, you are probably doing the EA a favour by giving them something to do and they can also show their vendors they are still managing to get them viewings.

As others have said, you cannot have a price in mind until you have seen inside. Photos are an indicator of a property but can never show all the little things that you'll only notice on a viewing. Make sure you view more than once before making an offer and take someone with you if possible, sometimes others see things you may miss.