We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Offer rejected....
Craig_Donny
Posts: 145 Forumite
So ive found a house i really like, its repo and was advertised for 79950. Offered 70000 offer weekend, been rejected as they have a higher offer although no idea what the offer is.
What is your advise? Wait till its public notice the offer or what....really like the house!
Cheers
Craig
What is your advise? Wait till its public notice the offer or what....really like the house!
Cheers
Craig
0
Comments
-
I would say that it depends on how badly you want the house and how much you can go up to.
If you love the house and can afford x amount more then offer your final offer. If it is then not good enough walk away and find something else.Grab life by the balls before it grabs you by the neck.0 -
Wait. The other offer is from the Phantom. You would be bidding against yourself. In a week or so the Phantom will mysteriously "pull out".0
-
how can you be sure its a phantom? Does that actually happen?0
-
If the other offer is genuine, then you have to bear in mind that they may also counter your increased offer. Depends how much of a bidding war you want and can afford to get into.
Why haven't they told you what the other offer is? I would say that i need to know before considering whether to increase my bid.0 -
If the other offer is genuine, then you have to bear in mind that they may also counter your increased offer. Depends how much of a bidding war you want and can afford to get into.
Why haven't they told you what the other offer is? I would say that i need to know before considering whether to increase my bid.
I'm not sure that it's normal for them to say. A colleague in work bought a repo recently and was told when counter offers were received, but not what the offer was (I believe some "you'll need to increase by a little / a lot" indication was given).You were only killing time and it'll kill you right back0 -
Craig_Donny wrote: »how can you be sure its a phantom? Does that actually happen?
It happens all the time and has done to me. I think.
You can't be sure, that's where the Phantom gets his power.
If you want to be sure you could offer £79950. Although even then you wont be sure until you complete and have the keys in your hand. I'd forget about being sure about anything for the next few months0 -
As its a repo I would wait until the public notice is issued.
Tell the EA you will not be increasing your offer until you see the public notice, and only then if its still within your budget for that house.
Make sure you know where to look for the public notice so ask them where this will be.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards