We've put an offer in......

febop

how long is it before an ea gets back to you regarding an offer youve put in?im still waiting its only been a day but i dont know whether to phone or not i keep jumping every time the phone goes

shoe-gal_4

febop we put our offer in on Wed and only heard back today. but our EA called us almost daily to let us know that she was awaiting feedback from the vendor!

Wickedkitten

shoe-gal wrote: »

well we do like the house but we arent in a rush to move. there are similar houses a mile or so away (which we have made the EA aware of). we just dont want to push ourselves too far as the house needs a fair bit of work (new kitchen/bathrooms etc).

Are any of the houses that are similar being sold on at around the same price and to the same standard of decoration?

Are the kitchen and bathroom actually needing replacement (ie in bad repair) or do you not just like them?

It's hard to tell really because if they have dropped 25k off and offered 175k as a negotiating tactic then you might be able to offer 167k and then they might either accept it, come back at 170k or insist on 175.

shoe-gal_4

the bathrooms do NEED doign whereas the kitchen is liveable.

OH wants to go straight in with our max £170k with our best and final offer. i dont know if we should maybe go in lower with the view to go up to our final offer. OH wants to call them tonight with revised offer but i think we should wait?

QTPie

shoe-gal wrote: »

well we do like the house but we arent in a rush to move. there are similar houses a mile or so away (which we have made the EA aware of). we just dont want to push ourselves too far as the house needs a fair bit of work (new kitchen/bathrooms etc).

It is a bit hard from that to tell how much you want it.

If I was buying (had a limit of £170k that I was willing to spend on it - and definitely no more), then in your position - if a REALLY wanted the house - I would go back and offer "£170k last and final offer". Say that you like the house, but you just cannot afford £175k. The you don't want to mess the vendor around, so you are offering your maximum/best now.

IF the house doesn't mean that much to you (i.e. others around that you would rather have or just don't think it is worth £170k), then stick to your guns. Go back and say that you liked the house, but you just cannot afford more than £160k. You are happy to leave the offer on the table (as your maximum offer), but you will be actively pusuing at similar properties in the area. You don't know, they may come back to you...

Buying houses is all a game and a very personal one at that. Just be sure that this IS the house that you want to buy if you do pursue it.

Good luck
QT

shoe-gal_4

cheers for the advice QT. we do like the house a lot - it is the best one from the ones we have seen BUT i dont want to get my hopes up just in case our offer isnt accepted.

i think i will take your advice and go in with the £170k as our best and final offer.

oh and congrats on finally getting an offer on your house after the whole gazundering nightmare - glad things are working out for you.

QTPie

I hope it works out for you shoe-gal - there is a risk that £175k is just as low as they are prepared to go. If so, then they are really silly: to turn down a sale for a matter of £5k, but... vendors and buyers do all sorts of odd things...

If they come back and wont budge, then again you can leave it on the table, but be clear that you intend to actively pursue similar houses on the market (i.e. you are not hanging around for them).

Very good luck with it and let us know what happens

Thank you, I have EVERYTHING crossed about our current offer. It all sounds good, but until my Solicitor has her hands on that signed contract... I will just have to hold my breath...

QT

shoe-gal_4

OH has just got a call from EA and has been told that another offer has been put in. would EAs make something like this up? the reason i ask is because no offers have been put in for months and all of a sudden someone has put in an offer on the same day as us?!

QTPie

shoe-gal wrote: »

OH has just got a call from EA and has been told that another offer has been put in. would EAs make something like this up? the reason i ask is because no offers have been put in for months and all of a sudden someone has put in an offer on the same day as us?!

Really, really, really hard to say... There certainly IS an increase in activity at the moment and there do seem to be an increase in offers (quite a few cash/investment buyers around, oddly...). BUT not all of these offers will be realised and many will fall through...

What position are you in (I can't remember)? Cash deposit and mortgage ready to go?

How have you left it with the EA? Is he still putting your offer forward? Even if your offer is not the highest offer, doesn't mean that it isn't the most attractive (depends on the positions of both offers).

QT

shoe-gal_4

yeah we are chain-free and have deposit and mortgage ready to go - so we can basically move as quickly as the vendors need (and seeing as the house is sitting empty - i would imagine very quickly)!