Waiting on 'improved offer'

moneyistooshorttomention

I can sympathise with the OP, as I had an offer from a previous viewer that never ever did get increased and they hadn't said at the time that was that and they never planned on offering any more.....so just how was I supposed to know that they didn't?

I would have turned down the offer anyway (even if I'd known it was "final offer" as well as "first offer") as it was too low.

The person concerned was an investor and it transpired that they were running round the area putting in low offers on various houses at the time to see who "bit".

I think its wise to decide that, if an offerer hasn't increased their offer by Day 8 after the offer then they've probably vanished without trace. Up to a week, they could be deliberately making you "bite your nails" hoping you'll be psyched into accepting a lower subsequent offer than you otherwise would.

I had two other people offering on my house after this investor had vanished without trace, both of whom increased their initial offer after I turned it down.

My buyer made 3 offers before I accepted their 3rd one.

fart

Lol it's silly to just automatically assume that they'd be back with a higher offer.

witchy1066

LEJC wrote: »

how much under your asking price was the offer...?
Was it a realistic offer...

just because you reject an offer doesnt mean that the offer will be increased...we offered on a few properties and if the offer was rejected we walked away....sounds like thats what your viewers may have done.

we also made offers on a few properties but only made the one offer,

OP maybe this is what has happened and the prospective buyers are not going to "improve offer"

witchy1066

jackieblack wrote: »

It's this sort of cr*p that contributes to house buying & selling being such a stressful PITA.

I'm with LEJC.
We don't play games.
Whenever we've bought we make an offer we think is fair and if the seller turns us down we move on.

:T same here
I am not into mind games, I don't like games I don't know the rules to, so its a one off final offer from me

but I did always make it clear to the sellers EA, that i would make an offer but that would be my only and final one , its not fair to keep venders wondering
if I was the OP I would ring my EA up and ask if they thought a higher offer would be forthcoming

Better_Days

OP - did you make a counter offer? What does your EA say? Did they find out if the potential buyers are willing to offer more? In my experience EA's don't always ask if buyers will offer more. A lot also depends on the position of your buyers. Are they chain free, do they need a mortgage?

I offered on a property earlier in the year and then increased my offer. I had done my sums, the property needed quite a bit doing to it and the market was stagnant. The vendor refused to counter offer (they don't have to). I decided my 'walk away' amount and 'walked away' as I didn't love the property and it just wasn't worth offereing any more once the extra work that needed doing was taken into account.

Roll on to August and the property market is much more buoyant around here. I offered on a property - what I felt was a fair offer given the condition of the property and the updating it needs. There was also another party that offered very close to what we did. The agent pressured to up our offer but we declined, and our offer was accepted - I think because we are in a rental and only need a very small mortgage.

How realistic is your AP and the amount you are willing to accept taking into account comparable sold prices?

Slinky

We had an over-eager FTB offer on the flat my husband used to live in when he worked away from home. We were really busy with other things at the time, and didn't get the chance to talk about the offer that evening and didn't rush back to the agent. The following day the FTB upped their offer without us even rejecting the first one! Sadly it got downvalued a bit at survey, but we got a good price for it in the market at the time.

LE3

jackieblack wrote: »

I'm with LEJC.
We don't play games.
Whenever we've bought we make an offer we think is fair and if the seller turns us down we move on.

Yup, me too - I made one offer when I bought my house, the vendor wanted more & the estate agent made all the noises "they were hoping for a little nearere the asking price" etc, I said no, that's my offer take it or leave it & within 24 hours they'd accepted it

DilbertJones

I believe it is fairly priced, although I would!

it is priced just above Stamp duty threshold, with similar comparable properties having sold at just below the threshold in the last 2 -3 months. The offer although not an offensive offer by any means is suitably low enough for us to comfortably reject at this stage.

The EA did make it sound like an improved offer would come back so we are a little anxious now waiting for it!

They could be playing a game, they may not, they certainly did not say this was a final take it or leave it offer....

I will call the EA to gauge their thoughts on it

DRP

DilbertJones wrote: »

I believe it is fairly priced, although I would!

it is priced just above Stamp duty threshold, with similar comparable properties having sold at just below the threshold in the last 2 -3 months. The offer although not an offensive offer by any means is suitably low enough for us to comfortably reject at this stage.

The EA did make it sound like an improved offer would come back so we are a little anxious now waiting for it!

They could be playing a game, they may not, they certainly did not say this was a final take it or leave it offer....

I will call the EA to gauge their thoughts on it

are you looking for an offer *at* the stamp duty threshold ie. 125, 250 or 500? or above?

what was the offer?

fart

DilbertJones wrote: »

I believe it is fairly priced, although I would!

it is priced just above Stamp duty threshold, with similar comparable properties having sold at just below the threshold in the last 2 -3 months. The offer although not an offensive offer by any means is suitably low enough for us to comfortably reject at this stage.

The EA did make it sound like an improved offer would come back so we are a little anxious now waiting for it!

They could be playing a game, they may not, they certainly did not say this was a final take it or leave it offer....

I will call the EA to gauge their thoughts on it

What difference does it make?

The prospective buyer is either going to up the offer, or isn't. What does making phone calls achieve except for wasting your time?

As soon as someone makes another offer (even if it's them) the EA will let you know.