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Do they have to accept the asking price?
bowieben2
Posts: 40 Forumite
Quick question!...
A flat has come up for sale, its a repossession and is an absolute steal. I have today phoned the estate agents and have offered the full asking price. They have said theres a lot of interest and they have a lot of viewings for tomorrow so they wont accept my offer till after tomorrows viewings. Can they do that??
A flat has come up for sale, its a repossession and is an absolute steal. I have today phoned the estate agents and have offered the full asking price. They have said theres a lot of interest and they have a lot of viewings for tomorrow so they wont accept my offer till after tomorrows viewings. Can they do that??
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Comments
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Yes they can. Why not?
It is another matter whether they really have a lot of viewings. Don't let them know "it is an absolute steal". Perhaps you should withdraw your offer and view it tomorrow again.0 -
the seller of a repossession has a duty to get the best price feasible so yes they can delay accepting your offer in hope of getting a better one.0
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This echoes my experiences of desirable property being put on low to encourage bidding.
There will be a flurry of people now saying don't offer above the advertised price and to work back to 2007 minus X or Y % etc.0 -
Yeah, if they have multiple offers they just go to sealed bids. It's annoying but that's life. I paid about 15k over asking for my place at sealed bids with 9 others. It worked out though, just had it valued up 25% since that purchase in Summer '07. Sometimes the asking price is wrong and it's worth blowing them out of the water to obtain a property. Not often, but sometimes.0
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they also would consider the one who is more likely not to have mortgage problems etc.
we ofered asking price but a granddad bought it as he had 35 percent deposit and we had just 10 percent0 -
Quick question!...
A flat has come up for sale, its a repossession and is an absolute steal. I have today phoned the estate agents and have offered the full asking price. They have said theres a lot of interest and they have a lot of viewings for tomorrow so they wont accept my offer till after tomorrows viewings. Can they do that??
Sellers will probably use your offer as a bargaining point......"we have had an asking price offer on the property already so you'd better be quick if you want it" sort of thing.0 -
Quick question!...
A flat has come up for sale, its a repossession and is an absolute steal. I have today phoned the estate agents and have offered the full asking price. They have said theres a lot of interest and they have a lot of viewings for tomorrow so they wont accept my offer till after tomorrows viewings. Can they do that??
of course, particularly as a repossesion comes with a duty to get best priceMy posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.:cool2:
My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.:o0
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