How long to wait for offer to be accepted?

londonmaiden

How long would you consider as a buyer an un/reasonable amount of time to wait until your offer is accepted?

We submitted an offer nearly a week ago and the vendor has still not confirmed their acceptance. Slight fly in the ointment is that she lives abroad, however, we were told that she responds to emails within 24 hours although now it has been 5 days and no response. Obviously I have been through every possible scenario in my head as to why this might be, family trip, ill etc, but this doesn't make me feel any better. EA is saying no viewings are being done on the property until they have heard from her and ours is the only offer and is at asking price so we should be in a good position. But unfortunately due to our run of bad luck at attempting to buy a house, I always think EA is trying to pull a fast one on us but I may just be paranoid!

When would you consider too long to wait or would you just hang on in there??!

firebird082

I think I would give the Agent a ring at this point and just ask what's going on. They might just tell you that the vendor is away on holiday (this happened to us, and it was a huge relief just to know a detail like that!). Certainly no harm in chasing a bit I wouldn't have thought.

Annie1960

Five days seems a long time - ring the EA to chase it up.

If you have already done this, then give them a couple more days, then ring the EA and set a deadline by which you need a response, otherwise you will keep looking for other properties.

londonmaiden

Yes thanks, I did speak to them yesterday and they said they were surprised they hadn't heard yet but she hadn't told them she was going away anywhere and they said they'd sent another email to chase. Unfortunately the cynic in me can never believe a bl**dy word they say! Think I will call tomorrow if we've not heard and say we need to hear by Friday.

Pimpslider

Personally I'd keep looking even after I'd put in an offer. I see it as wasting time if you don't. You never know, you may find an even nicer place! That is a long time to not respond and very impolite.

ognum

londonmaiden wrote: »

How long would you consider as a buyer an un/reasonable amount of time to wait until your offer is accepted?

We submitted an offer nearly a week ago and the vendor has still not confirmed their acceptance. Slight fly in the ointment is that she lives abroad, however, we were told that she responds to emails within 24 hours although now it has been 5 days and no response. Obviously I have been through every possible scenario in my head as to why this might be, family trip, ill etc, but this doesn't make me feel any better. EA is saying no viewings are being done on the property until they have heard from her and ours is the only offer and is at asking price so we should be in a good position. But unfortunately due to our run of bad luck at attempting to buy a house, I always think EA is trying to pull a fast one on us but I may just be paranoid!

When would you consider too long to wait or would you just hang on in there??!

The EA should be keeping you informed with what's happening even if your offer is neither accepted or declined.

I have just finished the marketing part or selling a house I own. It took over a week from first offer to final decision. we however made it clear that despite offers we would market for at least a week, 35 viewings, and them asked for final offers as we had 8 offers in this time.

My EA however kept everyone informed of what was happening, how long it would be before a decision is made.

OP you sellers are probably getting more viewings and waiting to get the best offer. Speak to the EA.

TheCyclingProgrammer

I know how you feel...we put in our offer on a place last Wednesday on first viewing and went straight in at asking price (our best and final offer, too). I believe there are 6 offers in total and best and finals were submitted to the vendor this morning at 10:30.

I'm expecting a decision today, but the wait is killing me...I'm trying to remain as pessimistic as possible so as not to be too disappointed (I believe we're in a very good position to buy and our offer is realistic but there is one higher offer from somebody in a chain).

Alikay

If the offer was a lot below the asking price, I could understand why they'd need longer to consider it as it could affect whether they could still afford their next house purchase or availability of mortgage if the difference means their deposit will be a lower percentage of price.

If it's a sensible offer, then you should ideally have heard by now. People do have other things happen within their lives that eclipse house selling, though, and it's possible that they may have some personal crisis going on.

hazyjo

If no personal crisis and just bad at communicating, be prepared for the sale to take months. Average is 3 months, let alone with bad communication whilst being in another country!

Good luck. I'd leave the offer on the table but definitely keep looking (unless it's accepted) - and let the EA know. Wouldn't start giving deadlines. What's the point? What if they come back and accept in three weeks' time?

Saying that, my money's probably on the EA forgetting to actually send the email in the first place...

Jx

DRP

no need to be waiting or 'hanging on in there' unless you find another property you wish to offer on.

Keep ringing the EA, keep looking at houses.

ognum

Alikay wrote: »

If the offer was a lot below the asking price, I could understand why they'd need longer to consider it as it could affect whether they could still afford their next house purchase or availability of mortgage if the difference means their deposit will be a lower percentage of price.

If it's a sensible offer, then you should ideally have heard by now. People do have other things happen within their lives that eclipse house selling, though, and it's possible that they may have some personal crisis going on.

Even sensible offers at asking price are not enough to secure properties in many areas now.

I could have accepted the first sensible offer in the property I have just marketed! it wasn't a bad offer but it was £100k short of the final offer I accepted. maybe that's what the vendors are waiting for!