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Setting an offer deadline.... Wise?
september12th
Posts: 2 Newbie
Hello All,
I've been a long time lurker (sp) here; but have only just registered and this is my first post, so please go easy on me.
I hope your expert advice will point me in the right direction (i've looked via the search but could not find a similar scenario to ours).
We have made an offer on a property that has been on the market for about three weeks. The property is on the market for £260k, we have offered just below the £250k mark. We are cash buyers and therefore can move quickly on this, everything is in place ready to go (solicitors, surveyor etc) The house in question has no onward chain, and is empty. Had a response yesterday from the EA, which was ambiguous to say the least. The vendor would like to leave it on the market to see what other viewing and offers are forthcoming. I have been informed that the vendor has recieved an offer of full asking from somebody else, but they are yet to sell their house, and then there is our offer which is short of asking.
What i would really like help with is our strategy here, we do not want to be left waiting around for weeks / months for the vendor to come back in x weeks and say sorry we've had an offer for x and that beats yours, or they come back in x weeks and they want to accept our offer as they didnt get a better one. I am probably biased but if the shoe was on the other foot i would of bit my hand off. Feels a bit like were being taken advantage of.
Should i intimate a timescale whereby i would like a definitive yes or no, and after that date has passed our offer no longer stands? Is the EA playing games and trying to get us up to asking price, as he assumes that we can afford it? Any ideas would be most welcome. We would like to concentrate our search elsewhere, or begin the buying process with this one, but not be left in the dark.
Your help is most appreciated
Sep12th
I've been a long time lurker (sp) here; but have only just registered and this is my first post, so please go easy on me.
I hope your expert advice will point me in the right direction (i've looked via the search but could not find a similar scenario to ours).
We have made an offer on a property that has been on the market for about three weeks. The property is on the market for £260k, we have offered just below the £250k mark. We are cash buyers and therefore can move quickly on this, everything is in place ready to go (solicitors, surveyor etc) The house in question has no onward chain, and is empty. Had a response yesterday from the EA, which was ambiguous to say the least. The vendor would like to leave it on the market to see what other viewing and offers are forthcoming. I have been informed that the vendor has recieved an offer of full asking from somebody else, but they are yet to sell their house, and then there is our offer which is short of asking.
What i would really like help with is our strategy here, we do not want to be left waiting around for weeks / months for the vendor to come back in x weeks and say sorry we've had an offer for x and that beats yours, or they come back in x weeks and they want to accept our offer as they didnt get a better one. I am probably biased but if the shoe was on the other foot i would of bit my hand off. Feels a bit like were being taken advantage of.
Should i intimate a timescale whereby i would like a definitive yes or no, and after that date has passed our offer no longer stands? Is the EA playing games and trying to get us up to asking price, as he assumes that we can afford it? Any ideas would be most welcome. We would like to concentrate our search elsewhere, or begin the buying process with this one, but not be left in the dark.
Your help is most appreciated
Sep12th
0
Comments
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I'd leave it on the table for a week, after that, the offer gets withdrawn. I'd also book some viewings of other houses with that estate agent so that they know you're serious about looking at other houses. When its still for sale in six months, go back and offer £225k.
0
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