Not heard from EA after second offer

loulou41

I made my second offer a week ago and have not heard from EA. Is this normal, I had to chase him for an updates. Phoned him back this morning and he told me the vendors have rejected my offer and he is expecting to hear from other viewers soon. So far, the vendors have not had any offer, he says, they want the asking price or above. I asked whether they are not selling if they do not get the asking price. I understand they are emigrating by the end of October. It seems to me that time is limited. The asking price is nearly 305K and my offer is 297K. I wish I could stretch myself a bit more but I can't and am afraid the search is still on. Thanks

dougk_2

Don't always believe the EA, they are trying to get you to part with as much as possible. Just re-afirm your offer to them.

mi-key

I agree - EA always have 100's of buyers lined up, deperate to buy a particular house, and they'll always offer more than you - until you pull out, and none of these other mystery buyers seem to appear and buy the place !

Tell the EA your final offer, and make it clear that you arent willing to go any higher, and if that offer is rejected you'll forget the house and look elsewhere.

Gorgeous_George

Have you got a buyer for your house? Vendors are unlikely to accept an offer if you haven't sold. As soon as you have a buyer, I'd expect them to accept/decline fairly quickly.

Good luck!



GG

loulou41

I am a cash buyer with no chain. I think I am in a strong position and is prepared to buy stuffs she wants to sell and will be flexible to her travelling arrangements. Whatelse more could a buyer wants, she might get a couple of thousands more but will have to put up with the hassle considering she wants out by the end of October. Well, there will be others. I am a bit put off by all this. Thanks.

lilyann1

I think your offer sounded good. You are right, you are in a very strong position as a cash buyer with no chain, there are not many of them around and if she has to wait for someone else, then she is highly unlikely to move out before end October.
If you still want the place then reaffirm your offer and position to the Agents,and don't believe their flannel about other offers pending.

Cara79

That's a fantastic offer and you're in a brilliant position.

What I would do is confirm your offer in writing to the Estate Agents AND the vendor. Put it through their door, just in case. I'm sure the EA has passed details of your offer onto them, they are obliged to, but I would do it just to make sure. In that letter, you can state your position, cash buyer, can go with their timescales etc.

I think you will find a positive response to this.

Good luck.

P.s. Make sure you don't offer any more. Make it clear to the EA that your offer still stands.

Doozergirl

It would be very unusual for an EA not to get back to you after you had made an offer, even if the vendor had rejected it. Considering the number of properties we've bought and the many more offers we've had rejected(!), we've never had to chase for a reply. The idea is for the estate agent is to negotiate the deal and calling you back is a fundamental part of that! It may be that they didn't pass your offer on, forgot about it and are now trying to cover their tracks by saying it was rejected.

I'd try making an appointment to view the house again after hours without the estate agent so you can talk to the vendor directly.

You have made a VERY strong offer and after a week without hearing from you, I bet she's getting a bit twitchy too.

jamminjamaica

stick to your guns. you are in a great position being a cash buyer.

tigerminxy

The offer does look good on paper but if there is a lot of interest (albeit with no other offers you know of) in the property, even with the October deadline, the vendors may feel it's worth sticking it out. Even though they're emigrating, it doesn't mean that they have to sell the house in order for it to go through, so that might explain why they don't feel the need to sell to an offer under the asking price. The EA has very little incentive to get you to raise your offer by another few grand, since the extra commission they'd earn would be peanuts, relatively speaking, so I'm sure they're pushing the strength of your offer to the vendor.

The other thing is that if there's not been any other offers just yet, it's hard from them to gauge whether your offer is reasonable or not. They may also be using your offer as a benchmark to other interested parties. When my house was on the market, we had seemingly no interest for a few weeks, then once one offer went in, loads more came in, and the ensuing bidding war meant the final offer was way better than the first one. The fact that I had two agents on the case also meant that the buyers were in more of a blind position than they would have hoped. If your agent isn't the sole agent, then maybe there are other viewings going on that you're not aware of.

The first offer was from a cash buyer, by the way, but totally lost any chance of getting the place when she would only raise the offer by a couple of grand ("It's all I can stretch to") and then magically found another £15k once the other offers came in.

So ask yourself if you really, really can't find the extra £8k. If you can't, then you probably don't want this house bad enough for it to be worth the aggravation anyway.

loulou41

Thanks for your good advice. I have already done a second viewing and told her my position being a cash buyer etc., It is very strange that she has had no offer after a few viewings, house in this road sells very quickly. Have told EA, I cannot stretch anymore but to keep me posted of any offers he gets. Will start looking at other houses.