Yet another bid advice thread!!

Gwhiz

david29dpo wrote: »

You don't believe the tenant has moved out?

Read again - other way round.

thriftyamy

pawpurrs wrote: »

56 DAYS!!!!!! Hardly an incentive for the seller to sell to a ftb is it? In my experience FTBers are a complete nightmare, give me an older casdh buyer anyday! Thats not exactly quick. I have completed in a week before, and this time looks like it should be 14 days, auctions are 28 days......... A ftb with mortgage in place should be able to complete wayyyyyyyyyyyyy sooner, and indeed there is incentive at the moment to do so, with the stamp duty threshold.

Anyhoo, advice to the OP, offer has been rejected all you can do is either increase your offer, wait to see if they backtrack (unlikely) or move on to the next property, only you know how much this property is worth to you.
I should imagine that a house that is new to the market is less likely to accept a low offer than one that has had trouble selling.

who are you using for your conveyancing etc if you're completing so quickly - I need their number!!!

marcg

pawpurrs wrote: »

56 DAYS!!!!!! Hardly an incentive for the seller to sell to a ftb is it? In my experience FTBers are a complete nightmare, give me an older casdh buyer anyday! Thats not exactly quick. I have completed in a week before, and this time looks like it should be 14 days, auctions are 28 days......... A ftb with mortgage in place should be able to complete wayyyyyyyyyyyyy sooner, and indeed there is incentive at the moment to do so, with the stamp duty threshold.

Anyhoo, advice to the OP, offer has been rejected all you can do is either increase your offer, wait to see if they backtrack (unlikely) or move on to the next property, only you know how much this property is worth to you.
I should imagine that a house that is new to the market is less likely to accept a low offer than one that has had trouble selling.

:rolleyes: Missing the point - you set a short a timescale as you are comfortable with - if you miss it you will lose your deposit - hence my reasonable suggestion of 56 days. Given that you are dependent on not just the solicitors to do their thing but also mortgage surveyors to turn up and write up their reports etc etc not to mention possible down-valuations and attached arguments...

The real value in my idea is the exchange of contracts with money down. It is that which shows the real added value of a FTB. If no contracts are exchanged then it is basically the same as a chain.

pawpurrs

thriftyamy wrote: »

who are you using for your conveyancing etc if you're completing so quickly - I need their number!!!

If you want it just let me know, I can let you have it, he is excellent but not cheap, never let me down, and extremley thorough as well

Milliewilly

Yes my Solicitor is lightening fast but hes only one side of the story. His telephone manner is sharp well rude really to say the least but he gets the job done.

pawpurrs

Your not wrong there, MW, actually do we have the same guy? He was pretty abruput with me earlier, if hes busy, he tells you to ring back and allmost slams the phone down, but he is good and I forgive him!
Normally if stuck in a chain, my work is done in a week, and we sit twiddling our thumns for the rest of the gang to catch up:rolleyes:
He also asks twice as many questions, but hey thats what I am paying for!

Fire_Fox

First offers are always refused and estate agents always b*llsh*t FTBs. I'd tell the estate agent you believe your initial offer to be fair for reasons x and y (your proceedable position, property vacant, sold prices in street), and it will remain on the table: in the mean time you will continue to view other properties. Hopefully they will come back to you in a week or so and tell you what they will accept and you meet half way. Be sure to view other properties through the same agent and make non-committal noises.

mrsnow101

Well I went in with £135k. The agent kept us waiting overnight before phoning to inform us that the offer was declined. Vendor wont budge from £143k. Time to sit things out I think.

Tia_24

We offered 10K under the asking price for our property, we were told by the estate agents it was too low and it was rejected. We waited a few weeks and then the estate agents called us back asking if we were still interested and we got it for our original offer. If you think your offer is fair, then stick to it and only offer what you feel the house is worth. Someone previously posted that estate agents b******t FTB's - absolutely right they do - but thankfully for this website and it's forums we werent such easy targets for them!

mrsnow101

My partner received a call from the agents today, (despite the fact that I asked them to deal with myself) notifying us of an offer being placed on the property, and asking us if we would like to increase our own offer.

My partner said that if the vendor was not prepared to negotiate away from £143k, then there was no point - as we dont consider the property to be worth that much.

Now it could be genuine, but then again... I'll be eagerly watching rightmove next week.

I'm not finding this as stressful as I thought I would though to be fair... although I am begining to develop a passionate loathing of estate agents...