should I push or be patient

dprovan

I posted an earlier thread about a house Ive bid on.

Looking for offers over 235k There was an offer on it for 235k made last Wed am( from someone with no house to sell). I put written offer of 236k on Thurs am (I have a house to sell, though offered to put down a deposit to show my interest).

I phoned estate agent last Friday to hear if there was any feedback from vendor. Estate agent told me they had went back to the underbidder and were awaiting a response. The Estate agent said they'd let me know when there was feedback gave me impression not to bother them.

Anyway now Monday still not heard anything and Im getting impatient, any advice on what I should do next... or should I just sit tight.

Pal

Ask the estate agent to confirm that they have passed on your offer to the vendor - they are obliged to do so. Then ask for his reaction. If they brush you off again, could you call round the house and speak to the owners direct, just to check what has been said to them?

The estate agent might be messing both of you about and trying to get the owner to accept the other offer. A sale without a chain is more likely to go ahead, so while their commission will be a tenner or so lower, they will get their commission faster.

dprovan

unfortunately the house is a new build, Ive no idea who owns it, and it is as good as finnished and Ive never seen any builders around it.

I contacted estate agent, receptionist told me she'd get.... whoever to chase up the underbidders and get back to me,, nothing yet, so hope I hear something tomorrow

Pal

New builds normally have advertising boards on them with phone numbers so you could try that. If the builder didn't own it then they will be able to tell you who employed them.

Failing that ask the estate agent for the phone number as you want to speak to the owner to discuss your offer, or ask the agent to pass on your phone number so that they can phone you.

dprovan

thanks again

spoke with agent this morning, someone else has now bid 237k (and they have a house to sell also, although they have house on market, we still dont)...

I don't know how to move it forward part of me wants to know what will it take to get this as I feel very powerless just now, but my sense is the vendor wants as much as possible so won't agree to take it off market for a price without going back to other bidder.

The issue of me having a house to sell isn't on the face of it as big an issue as they seem to understandably want to let the bidding go on and on.....

how would any of you reading this play this.....

zag2me

I wouldnt beleave a word the estate agents says personally. Find a price you are happy to buy at and submit the offer. If someone out-bids you then hard luck, dont get pushed around by the EA's.

dprovan

spoke with estate agent again (who was much more forthcoming) someone seen it today and bid 240k :mad: (they have a house to sell also, though it is on market).

The bidder who has sold their house is out of the bidding altogether :T but now the price is rising.......


I am wondering if I should match this...up it... and put my own house up for sale and hope I can sell quickly,,, problem is I wouldn't want to move if I didn't get htis house..... oh this is tough,,, any advice?

deemy2004

If I was selling a house I would go with someone who actually has the house on the market rather than not even though its a couple of thousand less.

I think if your serious about your offers beings accepted, you should put your house on the market.

Afterall which offer would you accept ?
Some one with a house on the market and under offer
Or someone who has yet to put their house on the market

robnye

deemy2004 wrote:

If I was selling a house I would go with someone who actually has the house on the market rather than not even though its a couple of thousand less.

I think if your serious about your offers beings accepted, you should put your house on the market.

Afterall which offer would you accept ?
Some one with a house on the market and under offer
Or someone who has yet to put their house on the market

i agree.... it would show commitment from yourself........

also doesnt this sound a little like an ebay auction....... or is it just me......

stratford_2

Although I appreciate you don't want to sell unless you are buying this specific property, I have to agree with Deemy about people much more likely to take you seriously if you have the house already on the market.

In my own recent experience EA's sometimes don't take you seriously unless you've already got an offer on your property, let alone not having it on the market.

At the end of the day, buying and selling costs a fair amount (even if a sale does not go through) and people understably look for signs that people are genuinely committed to do buying and also have the finance in place support it.

I would also agree with the poster that you should work what exactly you can afford to pay for the property (after all fees) and what you think it's worth and then stick to it. It's very easy to keep adding 1k here and there to keep in the running and then find you've gone up quite a bit.

Good luck!

dprovan

thank you for all the replys they are really appreciated.

I didn't add in this post (did in earlier) I put my bid in writing and offered to pay a deposit (if my offer was accepted) to show my seriousness as a buyer given that my house wasn't on the market. I felt this was a clear sign I was serious. I do take the points you make about it being a sign of my seriousness if house is on the market, but Im weighing that aggaingst me putting my house on the market when I have no notion of moving if this doesn't work out, I could put it on tomorrow and know on Thursday the guy has accepted another bid, and Im not prepared to do that, I don't think....

you have helped me with the bidding I was getting carried away. I think I'll say my last offer is final offer and should the higher offer fall through they should get back in touch with me.

thanks