House has offer on it. Any point in making same offer?

sparklymessygirl

Apologies if this question is stupid or has been asked and answered elsewhere. Desperate to move and seen bungalow needing lots doing to it. Seller is elderly gentleman in a home. Recently marketed at offers above £120000. Trouble is EA tell me that offer matching the asking price (presume they mean £120000) has been made but that the solicitors for the seller have not accepted it as were keen to leave it on the market for a short while longer.

I would pay £120000 but am flapping about trying to decide whether it is worth more than that to me given the amount of work that is needed on it. Is there any point in my making the same offer? If we were the only 2 potential buyers would they take the first offerer? I don't need to sell my house in the short term but I do need to do some refinancing. My BS has agreed in principle on figures of £120000. Would it depend on whether they were cash buyers etc?

How much info can you get out of EA and is it best to speak to them on the phone or in person, do you think?

Any comments gratefully received - thanks
Sparkly

Doozergirl

Of course you can offer the same. If you're in a better position to proceed where you're not dependant on a sale and can potentially complete quicker than the other party, then your offer could well be accepted over theirs.

They could up their offer as a result of yours, or they may be a cash buyer, but you're at least in the running, aren't you? Go for it.

bobandliz

ES's are a nightmare sometimes. You need to be firm with them after all, its your money. You can do what you want.

I would approach the ES and state that you are offering the full asking price AND that you have your mortgage approved and have nothing to sell. Additionally, if you really want the bungalow, you could add that you would also want an quick completion of 6-8 weeks time. You offer is also subject to the bungalow being removed from sale as you refuse to waste money next week on the survey if the seller wants to continue marketing it.
The ball is in your court. property isn't selling as quickly in many places and the sellers Solicitor will fully understand, by your straight talking, that your not to be messed with and that he could risk losing a "cash buyer".

bettyr

All you have to do is offer £500 more and then ask for it to be taken off the market. Give the EA a time limit----say, end of business the following day.
Good luck.

rozeepozee

Go for it, I say! When I bought my current home, I offered £3000 less that the highest bidder and the seller agreed to this. his was because I had nothing to sell and had the funds available immediately. The highest potential buyer is not necessarily the most attractive one and if you are in a better position to move and are willing to pay the same price, you should be in with a good chance. BoL!

sparklymessygirl

Thanks eveyone,

I feel more confident now. I rang them today and offered £120000 and said that if my offer were to be accepted I wanted the sign taken down immediately. The person dealing with it is away but the office said that 2 or 3 offers had already been made. Some confusion too over whether the seller is dead or alive!

As you say I may be the most attractive buyer. ...

Sparkly

sparklymessygirl

Hi all,

Well - someone else has put in an offer of £135,000 :eek: (offers over £120,000 sought) so I am backing out graciously!

Sparkly

rozeepozee

I wonder why they would do that :think: Make sure the estate agent knows they can contact you if this offer does not proceed - you never know what might happen when it comes to selling property.