How long to decide on offer??

evertonblue

Hi folks - any thoughts.....
Put an offer in on Monday lunchtime (private probate sale) and are yet to hear from executor apart from confiming offer received.
How long should i give them before contacting them again. I know another party had a second viewing but not sure if they made an offer.
Problem is (and executor knows this) we would only be selling for this house, our house went up for sale on Monday and we had a viewer that morning who wanted to come back in the evening!!! have re-booked them to come sat morning with 5 or 6 others but obviously dont want to let people down if we dont get the house we want.
Should i assume that he will wait to see if other couple offer?
I am starting to see why there are estate agents in the world, feel very in the dark about the whole thing.
Any thoughts....
Thanks

firstaspect

If you put the offer in on Monday then I would wait until Friday myself to give them a call to see if they have any news. It can be more complex if being sold in probate, especially if multiple children are involved so is likely to be slower.

martindow

You don't have a buyer in place yet so I could well imagine that the executor might be taking his time to respond. Whatever their reply it is likely that they will want to keep on marketing the house. Get yourself a buyer and you will be in a much stronger position. Good luck with your Saturday viewings.

Jowo_2

Right, so you aren't even proceedable at this stage, so your offer can't actually be taken seriously as you are not in the position yet to follow through?

and let me get this right, you are only prepared to sell your current property if you can get this particular one?!

Meaning there's no great driver for you to sell, and you would actually withdraw because there's only really a low chance your non-proceedable offer would be entertained?

So you are potentially wasting both the seller's time and the potential viewers of your property, too?! Classic.

evertonblue

Jowo, Classic no - but ;

Executor was asking for offers if we were interested although they knew our house was not yet sold (the other potential buyer has not even thought about selling their home) we put ours straight on the market on Monday after offer made.
We have been completely honest with E.A and our first viewer is booked in for a 2nd viewing fully aware we are yet to hear from the offer on the only property we are interested in.
We have 5 viewings booked for Saturday who all should be aware of our position also.
Not quite sure how much more honest i can be.........

The fact is that the road in which we are wanting to buy has only had 3 houses come up in the last 7 years (only about 30 houses in the road) the last one was a probate sale that was sold privately. People stay in these houses long term so am not going to sell my house for just any old place, i have lived in the area for long enough to know where we want to be and if its not there then its my own home (which is lovely).
Catch 22 i know but there you have it.
We have been perfectly transparent with both the executor and the E.A
Alternatively i could say nothing, accept an offer on my place leave a buyer hanging on spending money on searches etc then pull out if we dont get the house we want!!!

tyllwyd

I think you are probably panicking a bit too soon - if you have viewers on Saturday, at the very best (and it would be the very best) they might make an offer at the start of the following week - assuming your viewers are proceedable themselves, of course, and that the offer made was acceptable to you. If you are still waiting for a decision, at that point you can tell them that you could only accept an offer if your offer on the other house was accepted, so that they will know not to spend out any money too hastily.

ruthtc

it is catch 22, but i'd agree with some of the other posts on here - whether probate sale or not, i'd sit tight and say 'thanks for the offer, come back when you're in a position to proceed' if I knew you needed to have sold your house to purchase mine.

5 viewings and a second viewing isn't a bad place to be though, so i'd say have patience, let the viewings happen and see where you're at early next week.

You have two options re the viewings - there's one school of thought where you/EA could be saying to viewers you've found a place you like, or else you don't mention at this stage as may weaken your negotiating position. Would probably just wait and see if it came up...