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Rejected Offer On A House

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  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The truth is it's quite simply if OP thinks it's worth £86k and that is what they are prepared to pay that is what they should offer and if it's rejected they should walk away. That's all they can do its up to vendor what they accept not the OP or estate agent.
  • hazyjo
    hazyjo Posts: 15,475 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    emmatthews wrote: »
    You also never know what outstanding mortgage someone has or the price they need to achieve in order to move. Whilst a house is only worth what someone is willing to pay, the vendor may not be in a position to accept an offer lower than 89k.

    Indeed. That just equals stalemate. No reason why the buyer should pay more than it's worth just because the vendor needs it. Equivalent of taking out a loan for them lol.


    I suppose it all depends on the vendor's reason for selling.


    Jx
    2024 wins: *must start comping again!*
  • bod1467
    bod1467 Posts: 15,214 Forumite
    I take it the schools are still out?

    I see the OP was even daft enough to thank the idiot newbie in this thread. (I suspect that the only true part of his forum name is John, and even that's debatable).
  • hazyjo
    hazyjo Posts: 15,475 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    bod1467 wrote: »
    I take it the schools are still out?

    I see the OP was even daft enough to thank the idiot newbie in this thread.

    Just ignore. Can assure you they'll be gone soon.


    'Little things...' and all that.


    Jx
    2024 wins: *must start comping again!*
  • Steph1993
    Steph1993 Posts: 46 Forumite
    Thanks for all your advise.
    I have just phoned the estate agents and asked to put a second and final offer in of 86,000 and he said that sounds very reasonable and will speak to the seller and come back to me.
  • Hoploz
    Hoploz Posts: 3,888 Forumite
    Any word yet?
  • Steph1993
    Steph1993 Posts: 46 Forumite
    No Hoploz
    How long would you reckon I will be waiting until I get an answer?
    I don't want to be ringing them and making it look like I'm desperate but if they haven't got back to me within a certain time should I ring them?
  • glasgowdan
    glasgowdan Posts: 2,968 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    It could be 10mins, it could be 2 weeks. I wouldn't chase if it were me but I've learned through experience
  • Hoploz
    Hoploz Posts: 3,888 Forumite
    Well if you didn't hear back straightaway with a flat No, I'd say it's a good sign ... may just mean they are considering it.

    But best not to get your hopes up
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    There's no point calling. If £86k is really the most you can afford (or will pay) by calling back you give the possible impression that you might pay a little more.

    I'd give it a week and then if £86k is really your top figure, call the EA, let them know whilst your offer still stands you are now looking elsewhere so once you find a better property for you you'll let them know it's been withdrawn. It's also possible the vendors may hang on a while but may have their own pressures to move and if they don't get any offers and you don't find anything you may get a call in a months time saying they will accept.

    You've got nothing to gain by calling and for example giving them an ultimatum that you are giving them a deadline, that may annoy them enough to reject an offer they would otherwise take after seeing no offers for a while. There's often a lot of emotion involved.
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