How long typically to get a response on an offer?

russ9898

I know this question is on a par with how long is a piece of string but typically how long does it normally take to hear a response on an offer you've submitted?

I sent an offer in on a property on Wednesday morning, heard nothing so rung the EA yesterday dinner time, the EA said they would chase it up with the vendor. Still not heard a thing. Im expecting it to be a no (Offered £130k on a £150k asking price) but it would be nice to get a response so we can start the negotiation process.

The wait is getting frustrating, the EA's communication isnt brilliant. I have to call them rather than them call me. I never even got a courtesy call asking how i got on after my second viewing. If i dont hear anything by Monday im tempted to pop a note through the properties door. Good idea or not?

Thanks,

Russ

eddddy

In my opinion, you need to relax and try to think about other things!!!

If you seem really desperate for the house (by making phone calls, writing notes etc) the EA will suspect that if he makes you sweat for a while, you will increase your offer.

Anecdotally, I have heard estate agents say that when they have a really keen prospective buyer making an offer, they delay passing it on to the vendor for a day or two (or advise the vendor not to respond for a day or two), because often the prospective buyer can't bear the anticipation and increases the offer in order to try to get a quicker answer.

russ9898

Top advice that. Ill give it till next Sat i think and if ive still not heard anything then ill consider giving the EA a bell to see what the state of play is.

betmunch

Personnally I disagree with the idea of waiting until next saturday for an answer. I would push for the answer on monday, or at least a reason why its not decided. If you get the no you are expecting they will ask if you want to increase your offer, this is the time to do nothing for a week.

I would push for an answer on monday, when it comes back "no, would you like to increase your offer?" I would reply with "nah, not right now, thats a shame, but we have a few other houses to look at with xxxxxxxxxxx agent. We'll give you a call if you get something else we like the look of."

Then after a week, you can go back and say "we still like that one the best so if they wont accept £130,000 then we will have to stretch ourselves to £1xx,xxx. can you put that to them please?

Also, as Timmyt says, stay the hell away from in house Conveyancing and Mortgage Advisors!