can i find out what their offer is?

sherbie28

My sister (first time buyer) has seen a house she would like to put an offer in for but isn't seeing her mortgage advisor until tuesday. The agent has just called to say another couple have already put in an offer and are ready to sign at noon on monday. Therefore they've told my sister she needs to do something before then if she wants it. They've told her it's an excellent offer so I'm guessing it's the full asking price. Anyway, how is she supposed to offer more if they won't tell her what the current offer is. And, if someone is ready to sign doesn't that mean the seller has accepted the other couple's offer? We'd appreciate any help. Thanks

hex2

is the property in scotland or england?

if in england ready to sign isnt until exchange takes place maybe in six weeks or so. Until exchange nothing is binding.

bobsa1

Kirsty Alsopp (Locataion Location) suggests that if you really want somewhere offer £3k over anyone else by just saying I'll better the offer by £3k.

Sounds a bit risky to me but thought I'd give her view on this type of situation (I think she was talking about sealed bids but similar)

sherbie28

hi, it's in England.

F_T_Buyer

Sign? Sign what?

You sign nothing until several weeks down the line. If they are signing, I would assume this is to exchange contracts on the house - but this won't be done until all surveys are complete, and the mortgage is in place. If this is the case, why is the property on the market.

The EA is calling your sisters bluff and playing her. If the EA know's you're seeing a mortgage broker on Tuesday, they would advise the vendor to wait for your offer.

Simply, the EA is putting un due pressure on you to get the maximum price. What EAs do I guess. Don't fall for it.

MascaraMinx

Why doesn't she just offer the full asking (if she's willing to pay that much)? If the other couple have offered anything below that, then your sister might be able to get in there. If they've already offered the full, then she's missed out and it's back to rightmove. Don't offer above asking whatever you do.

Zammo

bobsa1 wrote:

Kirsty Alsopp (Locataion Location) suggests that if you really want somewhere offer £3k over anyone else by just saying I'll better the offer by £3k.

Sounds a bit risky to me but thought I'd give her view on this type of situation (I think she was talking about sealed bids but similar)

Kirsty Allsop hasn't got a clue what she's talking about. She's a little rich girl who has made money on property playing with daddies cash in a rising market. Any fool could have done the same thing.

Offering 3 grand over anybody else is just plain stupid.

Advise your sister to call another building society, bank or mortgage broker and stress that you need a mortgage agreed immediatley. I was in a similar situation last year and had it all agreed over the phone in a matter of 30 minutes. You don't have even have to use that particular lender either until you sign on the dotted line. An agreement in principle will be enough to show the vendor that you can afford the property.

Rimo2021

Zammo wrote:

Kirsty Allsop hasn't got a clue what she's talking about. She's a little rich girl who has made money on property playing with daddies cash in a rising market. Any fool could have done the same thing.

Offering 3 grand over anybody else is just plain stupid.

Absolutely - saying you offer 3k more is giving the estate agent carte blanche to shaft you.

sherbie28

Thanks for the reply, I've passed all the information on.