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How long should I wait to see if an offer is accepted before looking at other houses

24

Comments

  • LeoTLion
    LeoTLion Posts: 128 Forumite
    He's told you the minimum he's willing to accept at this moment in time. Which he is perfectly entitled to do.

    You clearly don't agree with his valuation. Which you are perfectly entitled to do.

    His thought process and what he stands to gain or lose has no relevance and you trying to second guess him will achieve nothing.

    You can up your offer now, wait and see if be drops his asking price in the future or find another house to offer on.
  • onix22
    onix22 Posts: 53 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    Shall I ask the EA if he heard from the vendor? I think he is trying to hold out the answer in the hope we become desperate and offer more??
  • LeoTLion
    LeoTLion Posts: 128 Forumite
    Why not just increase your offer?

    You clearly want the house and, as you yourself say, it's only a 'few quid' more.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    onix22 wrote: »
    The house is inherited form the deceased mother. So it is extra income for the buyer. if he is desperate to sell, would he jeopardise to lose his only offer for a few extra quid?

    You are not the only buyer in the market. A few days makes no difference to the vendor given the circumstances of the sale.
  • Annie1960
    Annie1960 Posts: 3,009 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    onix22 wrote: »
    Shall I ask the EA if he heard from the vendor? I think he is trying to hold out the answer in the hope we become desperate and offer more??

    The EA is legally obliged to put your offer in writing to you and the vendor. He/she is also legally obliged to let you know in writing if your offer is refused.

    However, from what you say, you have not actually made another offer, and the EA may not need to get back to you at all.
  • moneyistooshorttomention
    moneyistooshorttomention Posts: 17,940 Forumite
    onix22 wrote: »
    The house is inherited form the deceased mother. So it is extra income for the buyer. if he is desperate to sell, would he jeopardise to lose his only offer for a few extra quid?


    If he has a load of financial commitments he intends to put that money towards - then maybe.

    If he is a greedy wotname (step forward vendor of my recently-bought probate house) - then yep he would.

    NB; I also think you've had your answer (ie trans being "That's a no then").
  • onix22
    onix22 Posts: 53 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    The EA put forward my offer and told me he will get back to me, but he didn't.

    When we view the house, EA said the vendor got approached by the developers when the property was put up for sale ( 4 months ago) who offered 20% lower than asking which was not taken into consideration. Also, he told me they are desperate to sell and they were even considering accepting that very low offer.
    The house is in a desirable area, but it didn't attract any other offers. I wonder what could it be wrong with the house apart from the obvious very exposed garden?
  • LeoTLion
    LeoTLion Posts: 128 Forumite
    You believed what the EA said, why would anyone do that?
  • onix22
    onix22 Posts: 53 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    Because the house is on the market for a long time
  • Guest101
    Guest101 Posts: 15,764 Forumite
    Just to clarify 48 hours is the longest i would wait. The vast majority is less than 24 hours.
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