How long to wait for response to offer?

elvis_girl

I would say anyone who thinks they'll get anywhere near '07 prices needs to get with the program for a start! I would say don't go any higher than the asking price - its a buyers market after all & if they really want to move they'll accept your offer. I would also let them sweat until probably tuesday morning & make clear this is your last & final offer.If its rejected make sure its withdrawn or the EA will try to use it as a bargaining chip for the next bidder. Good luck!

missile

I don't think you are risking being too keen. Not all EA are efficient and you need to be a bit more proactive. Decide what you are prepared to pay and don't !!!!!! about. Make your offer in writing and hand deliver it to the agent.

"My final offer is £X. I am a first time buyer and have my mortgage agreed in principle and I am ready to proceed. I am looking at properties with a.n.other agents and I need to know urgently. Please contact the vendor and confirm before 17.00 hours tomorrow"

It may aid your case if you get a solicitor to bid on your behalf. This may impress the vendor and signify that you are serious.

beefturnmail wrote: »

I would say anyone who thinks they'll get anywhere near '07 prices needs to get with the program for a start!

I would suggest that depends on where you are looking. I know a few properties near me which have sold above the asking price and 2007 valuation. A good solicitor would be able to advise OP on how much to bid.

MrGreenNewForest

If you go to mouseprice.com you can research the history of properties sold in the area, in question.

At the end of the day it's down to how badly you want the property... if you are not in love with it and have made your offer which you feel is fair - perhaps stick with it and keep looking.

Cissi

From what you're saying, I certainly wouldn't go any higher than you already have! If they haven't had much interest, then clearly the asking price is too high in today's market, no matter what they think it "should" be worth. They're highly unlikely to get an asking price offer anytime soon. Play it cool, ring back in a few weeks' time when they've had time to stew and tell them that your offer still stands for now but that you keep looking.

For goodness' sake, don't get into a bidding war with yourself :eek:

beefturnmail

hmmm. ok wife rang in today with slightly upped offer. Within 20 minutes, EA rings me (not wife) back and leaves message on voicemail saying offer's being rejected. There are two other parties interested and they're asking for best and final offers, so if we could come back to them tomorrow morning.... Am I right to be suspicious??

Wobblydeb

beefturnmail wrote: »

hmmm. ok wife rang in today with slightly upped offer. Within 20 minutes, EA rings me (not wife) back and leaves message on voicemail saying offer's being rejected. There are two other parties interested and they're asking for best and final offers, so if we could come back to them tomorrow morning.... Am I right to be suspicious??

Yes. They may be trying to flush your best offer out of you. Where has the sudden interest come from?

There may be other buyers - the truth is you will (probably) never know.

If this property is not one you are in love with, it is worth negotiating to get a bargain.

But..... if, as you say, other similar properties are priced higher, then perhaps it is worth giving them asking price?

Charliezoo

beefturnmail wrote: »

hmmm. ok wife rang in today with slightly upped offer. Within 20 minutes, EA rings me (not wife) back and leaves message on voicemail saying offer's being rejected. There are two other parties interested and they're asking for best and final offers, so if we could come back to them tomorrow morning.... Am I right to be suspicious??

Can you arrange another viewing and maybe ask the vendor if its true?

new_home_owner_3

I just wouldnt contact them at all and leave well alone, if they do come back to you say you are waiting on a offer on another property.

it stinks of desperate estate agent dirty antics, dont rise to the bait..

beefturnmail

yes, the more I think about it the more it seems suspicious. The sudden urgency (i.e. offers tomorrow morning) is the most odd, particularly as I've never spoken to the EA (my wife's done all the talking) and the message is on my phone

Ankatden

Call their bluff and lets see what happens as always other properties.