was this a fair offer?

watersign76

We live in London, and prices are holding up a bit in our area, plus there is a shortace of properties....

Our house went to sealed bids, and we accepted who we thought was the most attractive (in terms of buying a house lol), which even meant not going for the highest bid. Your situ could mean you are the best bet for the seller. Our agent

Good luck.

mickybro

A lot of sellers and repossesion companies try it on putting the sell price higher than is realistic for the property at the present time.
Remember it is a buyers market, tell them the offer will be left on the table for a couple of weeks, but stress you will be looking for alternative property in the mean time.
If someother suitable property comes up then you will withdraw the offer and walk away.

Milliewilly

mickybro wrote: »

A lot of sellers and repossesion companies try it on putting the sell price higher than is realistic for the property at the present time.
Remember it is a buyers market, tell them the offer will be left on the table for a couple of weeks, but stress you will be looking for alternative property in the mean time.
If someother suitable property comes up then you will withdraw the offer and walk away.

Its not a buyers market if its going to sealed bids!!

surreybased

Hi,

We had a situation where a house sold in June 09 for £452k - 3 months later it was back on the market (absolutely nothing done to it and vendor hadn't moved in).Anyway it went back on for 500k, we offered 485k as we acknowledged costs that that the vendor had incurred. It had 10 viewings in 2 days and multiple offers - went for full asking price. We were surprised but I don't feel too bad..even though we have been looking for over a year as well - it wasn't right for us. We could have paid more but why??

Dh & I felt the same so made an easier decison - tough call when your wife wants the house..guess you might have to go to asking price but be sure about your limit.

Good luck

roses

Why would the agent call you to tell you they had two other offers? Surely if the other offers were acceptable they would have signed the deal?

Milliewilly

roses wrote: »

Why would the agent call you to tell you they had two other offers? Surely if the other offers were acceptable they would have signed the deal?

Because the property has generated interest so the EA is only doing their job in ringing round to try to pump the price up. They will have advised the vendor that there is enough interest to warrant sealed bids so the vendor won't be accepting any offers if they know higher offers are going to come in by the deadline.

StiflersMom

Milliewilly wrote: »

Because the property has generated interest so the EA is only doing their job in ringing round to try to pump the price up. They will have advised the vendor that there is enough interest to warrant sealed bids so the vendor won't be accepting any offers if they know higher offers are going to come in by the deadline.

And a sealed bid contest will usually result in a substantial improvement in the achieved price for the vendor, in my limited experience

Blacksheep1979

Milliewilly wrote: »

Its not a buyers market if its going to sealed bids!!

It is if there is only 1 sealed bid

lellow_lorry

well we put our bid in this morning for asking price so find out tomorrow. If we lost it for less than 10k we would be gutted so thought best offer and see. If anyone offers over then they are welcome to it....it was not to be