House Offer - Length of Time

Robborobbo15

Hi All

I have made an offer on a fixed priced repossession property, I have offered the full asking price.

I have not head anything back now for two days, my solicitor says it is common for the agent to take some time to respond.

I know there is a difference process for offers over repossessions, any advice or similar experiences welcome.

ATB

Alarae

I work within the marketing of repossessions- I am the person who calls the shots (within my mandate) and says yes/no to offers.

Personally it would be strange to me that you haven't heard a response back in a couple of days. Agents should phone through offers immediately and you would get an answer as soon as they have spoken to the asset manager, unless they had lower offers they were waiting to hear back from another agent.

On a fixed price repossession you have offered full asking price I would find it extremely strange you haven't heard- unless there are people who have offered in excess of this prior to you. Other than the agent simply being slow it may be a case that the asset manager has to refer the offer before acceptance or there is outstanding documentation required first- although your agent would be made aware of this and in turn updated you.

I would chase up the agent to see what is happening.