Offered for flat - 2 weeks and still waiting answer

mr_goosey

Dear all

I have offered asking price for a flat in a popular area of north London. Looking at Land Registry prices, I've found that other 2 bed flats in the same block (it is in a gentrified ex-LA building) have gone for 130, 140% of this price that this flat is listed at. Consequently, there seems to have been a lot of interest in the place (estate agent doing group viewings) and they tell me the Vendor has received a bunch of offers.

I've now been waiting two weeks and wondering whether I should withdraw my offer. They are still doing viewings and I'm not sure I can put up with another 2 weeks of playing silly !!!!!!s. If they wanted a higher price in the first place why not just list it as such?

Any thoughts?

googler

Call the agents and tell them your offer is open for acceptance or rejection by (say) mid-day on Friday, and if you don't hear either way, they should assume you to have withdrawn it.

mr_goosey

I haven't yet withdrawn and the agent isn't giving me much information about the other offers at this point. Does anyone have any ideas of how I might be able to put pressure on without pulling out?

DRP

mr_goosey wrote: »

I haven't yet withdrawn and the agent isn't giving me much information about the other offers at this point. Does anyone have any ideas of how I might be able to put pressure on without pulling out?

you could book some viewings at other flats (with the same agent)?

but what is the agent actually saying to you when you ring up to ask what is going on?

googler

mr_goosey wrote: »

I haven't yet withdrawn and the agent isn't giving me much information about the other offers at this point. Does anyone have any ideas of how I might be able to put pressure on without pulling out?

To put the onus, or pressure, on them, I'll say it again -

"Call the agents and tell them your offer is open for acceptance or rejection by (say) mid-day on Friday, and if you don't hear either way, they should assume you to have withdrawn it."

Don't ask about the other offers. Don't let the agents tell you about other offers. Don't leave your offer open to being mulled, considered and thought about in the background. Push for a decision - Yes or No, not Maybe - by the date YOU specify, so that they bring it to the foreground.

Decide what your offer is, and stick to it. Tell the agents what your terms are, as specified above. Also make your offer conditional on the property being removed from the market and other viewings suspended if your offer is accepted.

GDB2222

I think you need to accept that you probably won't get it at asking price. I agree though to give say 48 hours to accept. It's all you can do.

Even if they accept your offer, they can always continue to show it to other people.

mr_goosey

When I call them, they tell me that the vendor has received several offers and is considering them. That they can't push them any more than they are already doing into accepting an offer, but will get in touch as soon as there is news. They told me that they are keen to have a sale agreed soon rather than later, as they (at the vendors request) are still doing viewings.

I'm kind of resigned to the fact that it will go for more than asking price but part of me wants to hold on, "you never know", as they say! But perhaps as you advise, a deadline is in order...

Frustrating!

cattie

The trouble is if you give a deadline then you may lose out on getting a flat at a price you say is good. If it were me and I wanted the place I'd hang on for a response, in the hope that it was a yes. But in the meantime I'd continue to look at other properties, just in case something else took my fancy.

ognum

My guess they are showing all who are interested and will go to sealed bids ina week or two. let us know the outcome!