Offer accepted but....

daisymay2008

We have had an offer accepted on a house, an old dear lives alone and is moving into one of those retirement flats in the isle of wight.

We offered £1000 below asking price as it was a real bargain, there was one viewer straight after us and one the day after....

we put offer in last thing wednesday and it was accepted yesterday however the agent told me that a 'company' owned the property and it was a px for her new flat

they want to push the sale through in 4 weeks (no problems for us)
but also want the property to remain as 'for sale' and take details of anyone enquiring about it (no problems there) but they had to honour the remaining viewings that were booked (two I think)

I know from the agent that these viewers are not proceedable however my concern is that if one of them does become proceedable in the next few weeks they could offer full asking and we will lose out!

this seems a little unfair as it's not a repossesion :mad:

do you think i should contact the agents and say our offer only stands if they accept no more offers off anybody??

BornAtTheRightTime

I don't see what it will achieve for you - by law the agent can't refuse offers from anyone and even if they said they will go along with you, the moment they receive a competing offer they will want to look at it carefully as it could be more beneficial for them anyway! All you risk doing is harming your relationship with the agent.

if you wanted to put your foot down, perhaps telling the agent your offer is conditional on them conducting no more viewings. However, you've already agreed they can continue to market the property so I think your best course of action is to pour all your energies into getting to exchange as quickly as possible. If the agent sees you working hard to get to exchange they're more likely to prefer you over a competing buyer anyway as you're effectively a guaranteed sale to them.

£1k below asking price is so nearly asking price anyway that you ought to be in a strong position.

catfish50

My sympathies are with the elderly owner. I hope she gets the full asking price, as by your own admission your offer is less than the property is worth. Why should she donate £1000 to you?

kingstreet

Blimey! Since when were asking prices any indication of the value of a property?

And as this is a corporate vendor who's taken the property in PX, who's ripping off an old lady? She's made her deal with the developer of the site she's moving to and on her way to the IoW regardless.

daisymay2008

catfish50 wrote: »

My sympathies are with the elderly owner. I hope she gets the full asking price, as by your own admission your offer is less than the property is worth. Why should she donate £1000 to you?

oh sorry, just because she is old i should offer the full asking price then? as i am sure you would have done so!

i'm buying a family home to last many years for me and my partner to grown old in, i have no moral obligation to the old lady or any other seller for that matter, what a stupid comment

What if i need that £1000 to pay towards expensive medical treatment for my daughter?

if she wasn't happy with the offer she would have said no

kingstreet

Most corporates want agents to carry on noting interest of other potential buyers right up to the point of exchange. All I can suggest is you get everything done as fast as you can. If you get two weeks in and your mortgage and searches are all done, they are likely to stick with you even if they did get an offer of an extra £1,000.

Bird in the hand and all that!

daisymay2008

kingstreet wrote: »

Most corporates want agents to carry on noting interest of other potential buyers right up to the point of exchange. All I can suggest is you get everything done as fast as you can. If you get two weeks in and your mortgage and searches are all done, they are likely to stick with you even if they did get an offer of an extra £1,000.

Bird in the hand and all that!

thanks, that pretty much what the agent just told me, they had a first time buyer ask for a viewing but the company told the agent to turn them down, they won't be conducting anymore viewings just taking details of people who enquire so i do feel better now, also the agent pointed out that in a couple of weeks we would be nearer completion anyway so if one of the other two viewers who did view it sold their property a) they would have to offer a lot more than us for the company to even consider their offer and b) it would delay the whole process for our vendor again

so **fingers crossed**

thanks for the advice:D

botchjob

"honour the remaining bookings". Complete tosh. You should have dug your heels in and got them to cancel the viewings. There was no obligation for them to go ahead.

You're now in a position where the agents, should they choose, are free to keep on showing the house. If they get an offer they will tell you it's from one of the "remaining bookings"

I'd get your skates on if i were you.

catfish50

daisymay2008 wrote: »

oh sorry, just because she is old i should offer the full asking price then? as i am sure you would have done so!

Yes, as a matter of fact I would, and have done so in the past, with sellers of varying ages. Equally, I've usually had fair treatment from buyers when I've been selling. Believe it or not dog eat dog is not the only way to do business.

i'm buying a family home to last many years for me and my partner to grown old in, i have no moral obligation to the old lady or any other seller for that matter,

And yet you seem to think they have a moral obligation to you and it would be "unfair" if a higher offer was accepted.

What if i need that £1000 to pay towards expensive medical treatment for my daughter?

Err...NHS?

if she wasn't happy with the offer she would have said no

If you're confident she's happy with your offer, why would you be worrying?

daisymay2008

catfish50 wrote: »

Yes, as a matter of fact I would, and have done so in the past, with sellers of varying ages. Equally, I've usually had fair treatment from buyers when I've been selling. Believe it or not dog eat dog is not the only way to do business.



And yet you seem to think they have a moral obligation to you and it would be "unfair" if a higher offer was accepted.



Err...NHS?



If you're confident she's happy with your offer, why would you be worrying?

well watch you don't knock your halo when you leave, you shining beacon of morality

£1000 below asking price is very fair (hardly dog eat dog), she's hardly been ripped off has she? considering they accepted the offer within a couple of hours i would say everyone is happy, but if it makes you feel better i'll pop around and help her pack.....


you never know she may leave a few £££ in the old wardrobes a nice new hoover would come in nice

daisymay2008

or you could report me to help the aged if it would make you feel better owing to the fact i'm obviously ripping her off