How long for a vendor to accept an offer?? what is reasonable?

Thrugelmir

littlelost wrote: »

The property is currently empty and I believe was occupied by an elderly relative who was moved into a care home and they have since rented it out.

Perhaps there are other family members to consult. Not least the person whose property it belongs to. As the person you are communicating with may not be the vendor as doesn't actually own the property.

ReadingTim

Thrugelmir wrote: »

Perhaps there are other family members to consult. Not least the person whose property it belongs to. As the person you are communicating with may not be the vendor as doesn't actually own the property.

Quite - and the family have have belatedly realised that they don't have the power to accept an offer on granny's house like they thought they could! Or granny doesn't accept because she doesn't want to sell because she still thinks she's well enough to go back home. Or perhaps she's died and the relatives are somewhat occupied with that....

You can either say to the EA that the offer's being withdrawn unless you hear back within a set time period. Or leave it on the table and see what happens. Either way, I suggest you keep looking (perhaps different properties with the same EA) and make offers on those if you're interested...

Slinky

We had an offer on a flat my OH used to live in when he worked away from home. At the time I was really busy with work and OH was on a course and couldn't be interrupted, so we weren't going to get to talk about it until the evening. We had a bit of a chat about it and hadn't made a decision overnight, however the buyer came back first thing in the morning and upped his offer without us even rejecting the first one! Pity it got down-valued at survey......

Conrad

littlelost wrote: »

I really do love the home!!

Offer more then.
In the grand scheme a few thousand either way is irrelevant and in this market once you own the place it will rise in value thousands of pounds per year. People often let their deal making ego's get in the way of their aims and desires.
Otherwise find another place but keep in mind prices are rising in most locations so if it takes you 3 months to find another you might end up wishing you'd offer'd more on this one and had it done and dusted.


As to 'how long', obviously an unanswerable question because Human Beings are as varied as snowflakes.
They may have no notion of a timeframe, and could be prepared to wait some time for the right offer. Some take years selling their home.

firebird082

We waited a week to hear on offer acceptance last year, and that was between 6 asking price or above offers! Most stressful week of my life...

Don't forget that vendors have lives too, and it will take time to contact other family members in this situation. Add to which, selling might not be the first thing on their mind! (even if it's all you can think about).

penguingirl

We took 9 days to accept an offer last month. Offer was made on the Sunday afternoon following a second viewing (a first offer had been made and rejected after the first viewing). We declined and said we would like them to match what we had for it 5 years ago- they were close, but not quite there. They came back to us on the Wednesday and said they'd not be increasing their offer, but would leave it on the table. We said it depends what we can find to buy... queue viewings on the Saturday, had an offer accepted on Sunday. Contacted EA to accept on the Monday, but our normal EA was off sick and it was the Tuesday before they confirmed that they were happy to continue with their offer. We had 2 sleepless nights when we thought we might not be able to buy after all!

littlelost

The EA called us today to advise that the vendor was unwilling to accept 232k but would take 234k!!


We have agreed since it is still 1k less than the very very max we were willing to go.....


Whoop Whoop!! Lets just hope everything runs smoothly.... I have called my broker today and unfortunately he is on annual leave until Monday therefore I cant get my mortgage application done until next week however I have informed the EA who is happy with this and the house will be removed from the market STC.

rosie383

Wahay! Well done Littlelost! I'm very happy for you. I hope all goes well from here on in. Keep us posted.

Hoploz

That's great news, worth the wait!

phoebe1989seb

Well done littlelost - hope it all works out for you