How long did you take to respond to offer on your house?

Dan-Dan

ElsieMonkey wrote: »

Yeah maybe you're right...I just haven't been able to do anything all day for thinking about it all! Need an answer for my sanity lol!

Deep breaths....go for a walk/run , go to the gym , do something that doesnt relate to houses or buying them, you arent a FTB so you know it only gets worse!!

Sue_S

I phoned EA last week about a house I'm keen on. It's on for OIEO £360K (has been on for 6 months). I offered £330K to complete immediately (cash, no sale needed). Didn't hear a thing so emailed the agent the next day. He hadn't realised I was serious!!!! and hadn't spoken to the vendor (he said it was too low). Anyway, he spoke to the vendor and put the offer to them. I didn't hear anything, two days later I phoned the EA who in turn phoned the vendor. They've turned me down. I really hope the EA told them it was cash and we could go ahead immediately but they're so incompetent I'm not sure they will have done.

hazyjo

Sue_S wrote: »

I phoned EA last week about a house I'm keen on. It's on for OIEO £360K (has been on for 6 months). I offered £330K to complete immediately (cash, no sale needed). Didn't hear a thing so emailed the agent the next day. He hadn't realised I was serious!!!! and hadn't spoken to the vendor (he said it was too low). Anyway, he spoke to the vendor and put the offer to them. I didn't hear anything, two days later I phoned the EA who in turn phoned the vendor. They've turned me down. I really hope the EA told them it was cash and we could go ahead immediately but they're so incompetent I'm not sure they will have done.

Trouble is, if it's worth nearer the asking price, all it does is save the mortgage application. It doesn't save them any money selling to a cash buyer, just takes a bit of the pressure off re valuations, mortgages, etc. Some might think you're an investor and not be so keen to sell to you. I will hopefully be buying cash next time so have had a few thoughts about it already. I will always try to see the vendors, not be shown round by the EA, and if I'm keen, I won't be going overboard but will let them know I'll be in touch with the EA and let them know I'd be happy to move at their pace and wouldn't have a mortgage to worry about.


You could always arrange another viewing and hope to see the vendor so they can see you're not being pushy and you're (presumably) not an investor.


Jx

ReadingTim

The faster the vendor accepts the more likely it is that the buyer is overpaying.

The faster the buyer accepts, the more likely it is that the vendor is underselling.

Despite the British reluctance to haggle, purchases which don't rehearse at least a couple of steps of the housebuying dance are generally regarded with suspicion.

warby68

Its nail biting waiting but I really wouldn't read anything negative into an overnighter if that happens.

Some people just have to think a bit whatever and some have to confer with partners etc. If its been for sale a while, an offer might actually come as a bit of a shock and vendor just needs to do a sense check that they can/will still move etc. Also with a near asking price offer, its very much take it or leave it rather than counter-offer territory as well so needs a 'final' decision

Just trying to put your mind at rest that its not necessarily game playing if someone just takes a while. For what its worth our quickest answers have been 'no' and the slowest 'yes'

GaggingOrder

Try not to worry. It could be any number of things, and som people just like to sleep on every decision. The place we're hoping to buy, we offered quite quickly after viewing but it took a few days to agree a price because they slept on it every time we upped our offer. That had been on the market a while.

Conversely we've had a couple of offers which have been optimistic to say the least, because they were both low and not immediately proceedable. With those we aimed to get back quick to make it clear what we thought (in a polite way). Didn't help, other than to prove that they weren't really serious.

ElsieMonkey

Thanks for all your reassurances

Anyway, heard back and it's been rejected. No counter offer. Vendor says she wants close to, or, the asking price. Ummm I thought 4,950 less was pretty close to the asking price!

She's yet to find somewhere to move to, and we said since we're going into rented (our sale is due to complete soon), we will be happy to go at her pace (within reason of course). So I just can't get over the lack of give and take here...!

I asked if she will meet us halfway, so have now upped the offer to 2.5k below asking price (asking price is reasonably fair, slightly over market value perhaps). EA said my offer is very fair. But lack of give and take has made me a bit peed off now (I know she's within her rights) - but now, if accepted I will be agreeing timeframe for her to have offer accepted elsewhere, I think 3-4 months is plenty. And of course we will quietly be keeping an eye on other properties that are chain free/more proceedable to cover our own backs. Bit unsure whether I would pay for a survey until she's had offer accepted on somewhere...?

Well, another night/day tomo of waiting until she responds again to our revised offer!

GaggingOrder

In your position, I would hold off carrying out a survey until the chain is complete in the link above yours, i.e. Until she's found a place to go. Be upfront about that though.

Bonfire_Bride

I believe that the original offer that was put forward was fair. Many sellers feel that it is the norm to reject the first offer as buyers will usually increase afterwards. I hope you manage to get the property within a time frame that suits you. x

ellie27

You are willing to give 3-4 months to find somewhere? I think that is mad! On that timescale you will be lucky if you are in the house by Christmas! You have forked out a lot of money, over what you wanted to pay so I would calling the shots on this one!

Back to your original question...if I made an offer in the morning I would expect to find out by the end of the day. We put an offer on a Saturday morning and had to wait til Monday morning to hear but that was a separated couple, who were not living together, and one had to get in touch with the other etc.

Good luck