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How long to wait - 2nd offer

Put an offer in 10% below asking which was rejected. Allegedly a second couple had also put one in higher the day before which was also rejected.

1 Day later this couple have put in another offer which was being considered and vendor wants to know what we wish to do.

We'd like more time (it's only been 2 days since we offered) but also don't want to miss it.

It's a convenient situation for the EA so I am suspicious, but also realistic in as much as it could be true.

Comments

  • ellie27
    ellie27 Posts: 1,097 Forumite
    Ninth Anniversary 500 Posts Combo Breaker
    You need to decide how much you want this house and how much you would be prepared to pay for it.

    What are the similar sold prices?

    Are there any other houses you are interested in?

    Would you be happy to find it was sold if you phoned the agent now?

    If your seller is in a similar position to us you would be too late by now and we would have accepted the other offer. We had viewed a house we loved and wanted to accept an offer on our house so that we could offer on that one that day!
  • I don't think this one's going to be won with tactics. I think you just need to work out how much you want it and offer accordingly.

    We had a 'plan of action' with ours before we put our offer in and knew exactly what price we'd walk away at. You need to weigh up the emotional side of it with the financial.
    [STRIKE]DFD 22/7/14[/STRIKE]:o:cry:
    OD £1200 ~ CC1 £1875 ~ CC2 £1275 ~ Tesco £4757 ~ Creation £235 ~ FIL £25750
    DEBT @ 28/03/2018 = £35092
  • DRP
    DRP Posts: 4,287 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I don't see any point in hanging around, 2nd guessing tactics etc

    Tell them your new offer, tell them you've no interest in an auction, and leave your offer on the table.
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