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Why are they delaying their answer!
Comments
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Lucky you at least your offer of full asking price was accepted. I personally was in the same position as you a few weeks back, only difference was meeting the full asking price of a property after several declined offers still did not secure the property. I eventually had to offer over the asking price after 3 weeks of waiting and hoping the vendor will come back and accept my offer. The reason they gave for declining my offer was they had received a higher offer and although, the offer was from someone who had to sell first but as the vendor had tenants in the property, he was happy to wait for them. Now I'm sure some will be thinking why offer over the asking price but in my case I'm in a semi desperate position where I have to move out of my present property as the landlord wants to move back in and advised me a few months back. we have a very good relationship so he has cut me some slack when I told him I intended to buy a property which I didn't want to abuse.
Bottom line is we are in a crazy position where vendors have an advantage due to demand and this does not seem to be slowing down but then again this may be driven by the fact that stamp duty is due to rise.0 -
If it wasn't for the new SDLT rules it wouldn't be an issue!0
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littlejo26 wrote: »If it wasn't for the new SDLT rules it wouldn't be an issue!
Is this why you need to complete on your sale by the 31st March?
If it is, it might be worth considering offering the difference in SDLT to the purchaser to secure the completion at a later date. xxx0 -
AnnieO1234 wrote: »Is this why you need to complete on your sale by the 31st March?
If it is, it might be worth considering offering the difference in SDLT to the purchaser to secure the completion at a later date. xxx
Unfortunately that's not an option, we need the £10k for our deposit to ensure the 75% LTV product we paid for!
Seems like finding another buyer is our only option0 -
littlejo26 wrote: »Unfortunately that's not an option, we need the £10k for our deposit to ensure the 75% LTV product we paid for!
Seems like finding another buyer is our only option
If the market in your area is as buoyant as you suggest then that shouldn't be a problem, should it? Did you have any other offers aside from the current one? Could you go back to one of them?
xxx0 -
They are hoping that someone asks over the asking price.0
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AnnieO1234 wrote: »If the market in your area is as buoyant as you suggest then that shouldn't be a problem, should it? Did you have any other offers aside from the current one? Could you go back to one of them?
xxx
Not sure what the market is like in my area - I'm moving to a new area.0 -
littlejo26 wrote: »Not sure what the market is like in my area - I'm moving to a new area.
Just spoke to my solicitor, he said that he would draw up an assured tenancy agreement with our buyers solicitor.. Of course that doesn't protect us from the chain falling apart after we complete on our place0 -
jaysimpson wrote: »Lucky you at least your offer of full asking price was accepted. I personally was in the same position as you a few weeks back, only difference was meeting the full asking price of a property after several declined offers still did not secure the property. I eventually had to offer over the asking price after 3 weeks of waiting and hoping the vendor will come back and accept my offer. The reason they gave for declining my offer was they had received a higher offer and although, the offer was from someone who had to sell first but as the vendor had tenants in the property, he was happy to wait for them. Now I'm sure some will be thinking why offer over the asking price but in my case I'm in a semi desperate position where I have to move out of my present property as the landlord wants to move back in and advised me a few months back. we have a very good relationship so he has cut me some slack when I told him I intended to buy a property which I didn't want to abuse.
Bottom line is we are in a crazy position where vendors have an advantage due to demand and this does not seem to be slowing down but then again this may be driven by the fact that stamp duty is due to rise.
Very true! The SDLT deadline is a bit unfair, they could have increased it incrementally so people don't lose out. Because of this looming deadline, house prices have increased massively - in my area they have! I bet if we waited until April house prices will fall but im not in a position to wait.0 -
Congratulations on your accepted offer!
Good luck, I hope it works out0
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