Whem/Should we ask for an update?

GalaxyStar

Me and my OH found a house we really liked about a month ago, we know the owner from a few years ago and we know he wanted a quick sale. He had it up for sale with Express Agency (I've read about them on here and agree they're no good!) at "Offers over £95,000" & it's been on sale since June so we thought, as first time buyers with everything in place we'd be cheeky and offer £90k, they turned this down unsurprisingly, so we then offered £95k, that was a no, then went to £95,500 so we'd gone over the 95k. When he turned this down about two weeks ago we said our offer would stand until we'd put an offer in on another property. We haven't found anything else that stands up to it, and obviously he's got fed up of the agency themselves and a week ago changed the price to "100k" no offers over or anything just 100k.

We haven't heard anything since we last spoke two weeks ago, when the agency called saying they had interest of another viewing, obviously trying to up our bid. Should we call up and ask for an update on the property and again mention that our offer still stands? We wish he'd just come to us with a counter offer, you know, negotiate a bit! Is it OK to do this or do we just sit and wait more?

#edit: sorry for the typo in title my laptop is dying, the keyboard seems to be going first!

BitterAndTwisted

The more you contact the agent, the more keen they think you are and the more they believe they will be able squeeze a higher bid from you. If there is a real higher bidder they will be in touch

Leave your offer on the table and wait.

Dan-Dan

GalaxyStar wrote: »

Me and my OH found a house we really liked about a month ago, we know the owner from a few years ago and we know he wanted a quick sale. He had it up for sale with Express Agency (I've read about them on here and agree they're no good!) at "Offers over £95,000" & it's been on sale since June so we thought, as first time buyers with everything in place we'd be cheeky and offer £90k, they turned this down unsurprisingly, so we then offered £95k, that was a no, then went to £95,500 so we'd gone over the 95k. When he turned this down about two weeks ago we said our offer would stand until we'd put an offer in on another property. We haven't found anything else that stands up to it, and obviously he's got fed up of the agency themselves and a week ago changed the price to "100k" no offers over or anything just 100k.

We haven't heard anything since we last spoke two weeks ago, when the agency called saying they had interest of another viewing, obviously trying to up our bid. Should we call up and ask for an update on the property and again mention that our offer still stands? We wish he'd just come to us with a counter offer, you know, negotiate a bit! Is it OK to do this or do we just sit and wait more?

#edit: sorry for the typo in title my laptop is dying, the keyboard seems to be going first!

Vendor sounds like a bell end

95 Offers over , gets one , refuses it then puts it at 100k ?

Probably greed after swallowing all the media guff about the market improving

GalaxyStar

Dan-Dan wrote: »

Vendor sounds like a bell end

95 Offers over , gets one , refuses it then puts it at 100k ?

Probably greed after swallowing all the media guff about the market improving

We think he's being greedy, no-one will offer 100k with the area it is in to be honest, he might have had it over-valued, which then leaves it if we offered more we wouldn't get the mortgage!

He actually put it up to 100k on the day house prices were announced to have gone up fastest in two years! So sounds about right!

AdrianC

There's really only one thing for you to consider...

How badly do you want the place?
Will you be miffed if somebody else buys it?
Will you be so miffed that you'll wish you'd swallowed and put in a higher offer?

It's rather reading as if you're refusing to offer more than £95,500 on some kind of point of principle. That's fine. You've got your reasons. But are those reasons enough for you to walk away from the place over?

We can take it as read, I think, that the vendor has tacitly refused your offer.

GalaxyStar

AdrianC wrote: »

There's really only one thing for you to consider...

How badly do you want the place?
Will you be miffed if somebody else buys it?
Will you be so miffed that you'll wish you'd swallowed and put in a higher offer?

It's rather reading as if you're refusing to offer more than £95,500 on some kind of point of principle. That's fine. You've got your reasons. But are those reasons enough for you to walk away from the place over?

We can take it as read, I think, that the vendor has tacitly refused your offer.

If someone else puts an offer in then we would probably put in another offer, as we don't want to loose it for nothing but have asked the agency to contact us if anyone does but until that point we don't really want to offer more as we need to keep spare any of our money that we can for things like the solicitors and furniture etc

Mobeer

Dan-Dan wrote: »

Vendor sounds like a bell end

95 Offers over , gets one , refuses it then puts it at 100k ?

Probably greed after swallowing all the media guff about the market improving

Maybe not. This sort of behaviour seems to be a specialism of the EA:
http://www.estateagenttoday.co.uk/news_features/Uner-market-value-agent-home-reprimanded-by-advertising-watchdog

GalaxyStar

Mobeer wrote: »

Maybe not. This sort of behaviour seems to be a specialism of the EA:
http://www.estateagenttoday.co.uk/news_features/Uner-market-value-agent-home-reprimanded-by-advertising-watchdog

I read that a few weeks ago after we'd made our offers, to be honest if we'd known we wouldn't have even viewed it! It's wrong what they do, we wouldn't go near them again after this. They don't even try and negotiate between buyer and vendor. If he came back to us with a number between the 95 and 100 we'd be happier!