What to offer in sealed bid?

kiden

Just got a call from the EA - they've accepted (without me having to increase), on the condition that they'll only renegotiate if the survey brings up something major or structural.

Apparently the fact that I'd written a little sentence on my offer letter about how I wanted to care for the property and make it my new home helped.

So we start the 4/8/12/? week long process of paperwork etc now... Hopefully it shouldn't take too long as there's no chains, but I'm planning for worst and hoping for best!

...

And a slightly off-topic PS... After all this, I got an email this morning about a property I saw a couple of weeks back, and loved, but missed out on (because it got snapped up in a couple of days) to say it was re-available. So still a bit more decision making to get through, but at least that's a nice decision scenario

jjlandlord

kiden wrote: »

... on the condition that they'll only renegotiate if the survey brings up something major or structural.

"We accepted your offer on the condition that you do not try to change your offer"

Could they have come up with a more nonsensical sentence?

ognum

kiden wrote: »

Just got a call from the EA - they've accepted (without me having to increase), on the condition that they'll only renegotiate if the survey brings up something major or structural.

Apparently the fact that I'd written a little sentence on my offer letter about how I wanted to care for the property and make it my new home helped.

So we start the 4/8/12/? week long process of paperwork etc now... Hopefully it shouldn't take too long as there's no chains, but I'm planning for worst and hoping for best!

...

And a slightly off-topic PS... After all this, I got an email this morning about a property I saw a couple of weeks back, and loved, but missed out on (because it got snapped up in a couple of days) to say it was re-available. So still a bit more decision making to get through, but at least that's a nice decision scenario

Well done on getting the first step done, I hope all goes well and wish you luck whichever house you go for!

Hoploz

Fantastic news! Well done!
Look at the other one as well as a comparison to put your mind at rest - you're not bound to this one yet. But make your decision in the next couple of days then stop looking. Once solicitors are instructed etc then it is a bit underhand to withdraw.

martinsurrey

jjlandlord wrote: »

"We accepted your offer on the condition that you do not try to change your offer"

Could they have come up with a more nonsensical sentence?

It’s not that crazy.

Selling a period house you KNOW the survey is going to be a long read,simply because its old and building standards have changed, the seller is just managing the expectations of the buyers, which is a good thing to do.

The number of times people who offer on a period property and then are surprised when it’s not built to modern standards, and then get cold feet...

this one is being sold as "requiring modernisation" so the seller doesnt want the survey to say that and the buyer to want money off.

I think the seller seems clued up and reasonable (as does the OP) good luck.

jjlandlord

martinsurrey wrote: »

It’s not that crazy.

It's not the point.

The point is that nothing prevent the buyer from trying to negotiate further up to exchange, and it's up to the seller to agree or refuse.

Stating that offer is accepted if you don't try to negotiate is blah blah and does not even manage expectations.

LannieDuck

jjlandlord wrote: »

It's not the point.

The point is that nothing prevent the buyer from trying to negotiate further up to exchange, and it's up to the seller to agree or refuse.

Stating that offer is accepted if you don't try to negotiate is blah blah and does not even manage expectations.

No, I also disagree. It gives notice to the buyer that the seller isn't going to be amenable to much negotiation after the survey.

Sure, the buyer still could try. But he shouldn't be surprised when the seller refuses to budge by much.