Just placed an offer, rejected

stolt

good luck, but i think the vendor or EA might be playing games. I would look at other houses and give it a couple of weeks at least. how long has this house on the market, if they have rejected so quickly i would say not long because they dont seem to understand whats going on out there. if you really cant afford a further hike, i would leave it and then in a couple of weeks maybe ask the EA to reduce there fees and reoffer but it seems as the offers have come in quite frequently they obviously think you have more to give.

if your up to playing games pop into another EA's grab some leaflets of other houses then pop into the EA and just say you were passing and do you have any new houses while flashing the said leaflets in his face.

westv

I wouldn't do anything more now. You've gone to your maximum (and told the EA that it was your maximum). Just sit back and see what happens. If nothing then there will always be another one along at some point. No point in over stretching yourself for this property.

QTPie

westv wrote: »

I wouldn't do anything more now. You've gone to your maximum (and told the EA that it was your maximum). Just sit back and see what happens. If nothing then there will always be another one along at some point. No point in over stretching yourself for this property.

Agreed - keep looking at other properties... with that EA and others. No point being "overly in their face" about it... just get on with what you could do anyway.

As you say it may well go quickly near the asking price (which you are not prepared to go near, which sounds very sensible) or it will hang around... IF the owners have any sense and it doesn't sell, in a month or so they will be beginning to perhaps regret not accepting a lower offer. So it may be worth re-enquiring later on (but you really do need to leave it a while).

Keep looking and stay sensible (seems like you are): in this climate you need to be VERY sure about any purchase.

QT

reef

Just an update on this. After much persuasion by my other half we tried £125,000 as there arent really any other comparable properties at the moment.

Yet again rejected, but we were told by the EA that if we up to £127,000 its ours. We can actually go up to £132,000 (thats what our A.I.P is for), but they're trying to play us for as much as possible so we're walking away now.

If they are really going to let £2,000 stop them selling their house then I suspect they could be waiting a long time! At the end of the day we are buyers in a fanastic situation and the market here is pretty slow and falling fast (just 99 sales in March and a MoM drop of 2.2%).

Ill be honest and say we let our heart rule our heads when we offered a 3rd time as we love the house, but Im going to leave it a couple of days and then tell them we're staying at £125,000 or walking away.

slipp_digby

reef wrote: »

Just an update on this. After much persuasion by my other half we tried £125,000 as there arent really any other comparable properties at the moment.

Yet again rejected, but we were told by the EA that if we up to £127,000 its ours. We can actually go up to £132,000 (thats what our A.I.P is for), but they're trying to play us for as much as possible so we're walking away now.

If they are really going to let £2,000 stop them selling their house then I suspect they could be waiting a long time! At the end of the day we are buyers in a fanastic situation and the market here is pretty slow and falling fast (just 99 sales in March and a MoM drop of 2.2%).

Ill be honest and say we let our heart rule our heads when we offered a 3rd time as we love the house, but Im going to leave it a couple of days and then tell them we're staying at £125,000 or walking away.

your doing well and if you are cool enough and follow what you have posted, i reckon you have a good chance of getting it for 125k.

keep your nerve. i would do what you are doing - wait for the agent to chase you a few times and then tell them that £125k = final offer - BUT add time pressure to it by saying your offer to the vendor stands for a week, and then you will withdraw the offer and look at other properties.

this should focus minds!

Pssst

Let me know what the house is and ill offer £120000

cronos

reef wrote: »

I said Id leave the offer on the table for a few weeks while we view other properties and reaffirmed that we are first time buyers and able to move quickly.

Personally I never leave an offer open for more than 24 hours. My primary concern being that he vendor can use that open offer as a negotiating tool with other interested parties.

If they are at all considering accepting at the level you’ve offered then they’ll be the ones concerned that they’ve knocked back an offer. Surely better that than having them sitting pretty for a few weeks knowing that they at least have one offer in reserve.

Let them think they’ve lost the offer and they may well come back in a few weeks.

cronos

reef wrote: »

If they are really going to let £2,000 stop them selling their house then I suspect they could be waiting a long time.

I agree, but you never know what that £2k means to them and the same argument could be used by them!

You're doing the right thing, keep your head, and stick to your offer. My prediction is they will come in at £126k ;-)

reef

Got it!

They rang back asking for £126,500 and I was absolutely adament that it was £125,000 or nothing. 20 minutes later the EA called and the sellers have accepted our offer!

scw1

Well done thats fab news