Please help offer rejected and need a way forward

Running_Horse

Thought not.

Debras_Angel

Eric1 wrote: »

Not in this country.
Nobody's perfect

The experience of dealing with EAs and sellers in those years does not make anyone's advice more useful than the same experience in 2010.

Who said it did, I bought in 2006 and 1989, 93, 98 and 2009 and yes my experience was different for every sale.

Not sure what you're trying to say, but that might just be me

sarahmoo

Thanks again for all those taking time to reply. Just a quick update....I have had a letter from estate agent thanking me for the offer and will contact me again when they have further instruction. (Is this standard?) I think I am going to up my offer and am having to restrain myself from picking the phone up to the estate agent to do it.... I put my first offer in on Monday. When should I make the next one in this game .. ... What should it be...the amount I am willing to pay or less?

(PS I am also going to see another house on Saturday so that I have more than one option. )

poppysarah

Wait a week ...view other houses...

Chill.

Fiddlestick

sarahmoo wrote: »

I think I am going to up my offer and am having to restrain myself from picking the phone up to the estate agent to do it.... I put my first offer in on Monday. When should I make the next one in this game .. ... What should it be...the amount I am willing to pay or less?

They are playing you like a fiddle...

wuckfit

sarahmoo wrote: »

Thanks again for all those taking time to reply. Just a quick update....I have had a letter from estate agent thanking me for the offer and will contact me again when they have further instruction. (Is this standard?) I think I am going to up my offer and am having to restrain myself from picking the phone up to the estate agent to do it.... I put my first offer in on Monday. When should I make the next one in this game .. ... What should it be...the amount I am willing to pay or less?

(PS I am also going to see another house on Saturday so that I have more than one option. )

Don't do anything until Monday at the earliest. I suspect you might get call from the EA on Monday anyway. If you don't get a call, when YOU call them, you want to ask if the EA has had any further instruction yet. If they say no, thank them for their time and hang up. Don't blunder in with a second offer right away. If you want to make a higher offer, then do it calmly and slowly, perhaps on Tuesday or Wednesday. make one higher offer only at that point.
If you ring them at 9.01 on monday morning and make a higher offer, then they'll sense you REALLY want the house and they'll push you for even more (thinking that your heart is ruling your head)
It's like a game of poker.

harrup

Chris2685 wrote: »

As a cash buyer you are in a strong position.

If you really wanted to pay 235, you should have gone in at 225 as your first offer

You know.....I thought exactly like you until not that long ago.

But I have revised my opinion somewhat.

No doubt, being a cash buyer gives you the edge in SOME situations and with SOME vendors. Say, for instance, if there is lots of interest in a property, lots of potential buyers queueing up. Then, true, cash is king. If you can trump them AND show them the money, so to speak.

Or if the vendor HAS to move quickly for whatever reason.

But otherwise?

Unless the property is hopelessly overvalued,I suppose it really makes no odds to a vendor where and how they get the desired amount from. Putting myself in a vendors place, I might knock off 1 or 2 K for a cash sale but I wouldn't reduce the AP by something like 5 never mind 10 %. Why would I? Or anyone?

Eric1

Debras_Angel wrote: »

Who said it did, I bought in 2006 and 1989, 93, 98 and 2009 and yes my experience was different for every sale.

Not sure what you're trying to say, but that might just be me

Never mind, just veered off topic a bit.

harrup wrote: »

Unless the property is hopelessly overvalued,I suppose it really makes no odds to a vendor where and how they get the desired amount from. Putting myself in a vendors place, I might knock off 1 or 2 K for a cash sale but I wouldn't reduce the AP by something like 5 never mind 10 %. Why would I? Or anyone?

That's true. The only problem is that the vast majority of properties I would consider buying are hopelessly overvalued

sarahmoo

Latest is that the vendor is sticking to wanting the asking price...end of.....no rush to move and actually has nowhere to move to just yet. Happy to sit tight for as long as it needs. I need a house !... just put an offer in else where...still feeling bit gutted but I'll get over it. May yet go back and offer close to asking price but feel I will be sticking my neck above the parapet too much financially as I have no job to go to just yet when I move..

stedge

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