Asking price offer made and open days - advice needed please

sparky341

Hi,

I am after some advice and would be grateful for help.
We have sold our house (completed and money in the bank). We had an offer accepted on another property a month ago, paying quite a high price on the condition of a quick sale. We are now no further along than we were a month ago and are questioning their seriousness. We saw another amazing property we really like at the weekend, which has only just come on the market. I made an asking price offer today but they are having two open days and the agents were quite dismissive and want to wait for the open viewings and think they will get more than the asking price. They might well do, but we really like the second place and are not sure how best to play it. I don't want to mess around on our current offer but we have been pushing them for ages to get going and so it's not as if we would be stopping anything happening at the moment. I suppose I'm wondering how possible it would be to get the second property, having little experience of open days? Many thanks.

Bibliophile_2

Open days aren't always a success, however if the property is new to market the vendors will probably not be open to a low offer initially.

That doesn't put you in a strong position, so it depends how much you want the house and what you think it's worth.

I would, however, question why you are interested in the house in the first place as you've asked for a quick sale on the first house. Potentially you would be extending the time to move in significantly so why would you want to delay things and add extra expense?

There will always be new houses coming to market whilst you're trying to buy yours. You need to decide on the one for you, then stick to it.

sparky341

I wouldn't normally have considered changing my mind - not the type! I appreciate it would delay it but the way the current offer is going I don't think it would be by very much at all. I agree and feel we're not in a strong position but then anything could happen with the secondf property, it could go for a lot more than we can afford or we just might be able to get it. Without wanting to reveal too much about the property, the second one offers a great deal more for the money in terms of plot and the house itself. We were worried we were paying well over the odds for the first house and this does seem to confirm it. I know the grass always looks greener but equally it's a big mistake to make if we have got it badly wrong with the first house.

Bufger

then pull out of the first house and have a go for the second. If you're unsuccesful at least you know the standard you want for your money now.

tek-monkey

What have you done on the first house? Surveys? Or nothing at all? If its nothing I'd walk, this isn't the quick sale you were paying over the odds for.

sparky341

We have paid for the mortgage valuation, around £500 but that's it. We didn't go for a structural survey - got my dad to have a look at it as an experience builder, not the same but trying to save a bit.

They still haven't sent out solicitor the draft contract, 4 1/2 weeks after we agreed the purchase.

I think we would be happy living in both places, and there isn't anything else I like as much or have liked as much in 9 months of looking as the first house...except for this one that has just come on!

The agents are putting the offer to them in the morning so we just have to wait - I suspect it will be turned down, then I guess our line is 'what would they accept?' - if they even would agree before the open days...

Bufger

sparky341 wrote: »

The agents are putting the offer to them in the morning so we just have to wait - I suspect it will be turned down, then I guess our line is 'what would they accept?' - if they even would agree before the open days...

uh ohh

Your next line should be 'ok thanks very much. If they change their mind then you have my contact details. Thanks for your time' and put the phone down.

Otherwise they'll say '5k more would seal it!' and bite your hand off and get you a big sign to wear around your neck saying 'MUG'. :rotfl:

sparky341

Thanks for your comments..but I suspect it will in fact take a lot more than 5km more to seal it, as it's 'offers in the region of..' and I think it's deliberately priced low to generate interest in the open day. The agents have already said from the outset it is likely to go for over the region guide. Compared to what else is around for the same price it is a bargain.

Asking them what they would accept does at least put the ball in their court and does not oblige us to meet that if we don't agree with their price - anyone else got any ideas on whether this is a good or bad idea and how else we can approach this one?