We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Waiting for an offer response
Newbie321
Posts: 23 Forumite
As a FTB, just wondering what the average waiting time is to get a response from an offer.
We made an offer yesterday. It's on the market for £490k. We offered £460k but we could go up the asking price if needed.
We have a 5% deposit and a mortgage AIP. I was told that the EA's financial adviser would call today to make sure that we were in a position to offer - but no one has called.
How long should I leave it before following up with the EA? Don't want to seem desperate, but also don't want to lose out on this one.
Thanks in advance.. as I said we are FTBers so not really sure of the etiquette.
We made an offer yesterday. It's on the market for £490k. We offered £460k but we could go up the asking price if needed.
We have a 5% deposit and a mortgage AIP. I was told that the EA's financial adviser would call today to make sure that we were in a position to offer - but no one has called.
How long should I leave it before following up with the EA? Don't want to seem desperate, but also don't want to lose out on this one.
Thanks in advance.. as I said we are FTBers so not really sure of the etiquette.
0
Comments
-
Could get a reply in the next 30 seconds....... oh! You didn't!
Well, could take a month.
I'd leave it week.0 -
As a FTB, just wondering what the average waiting time is to get a response from an offer.
We made an offer yesterday. It's on the market for £490k. We offered £460k but we could go up the asking price if needed.
We have a 5% deposit and a mortgage AIP. I was told that the EA's financial adviser would call today to make sure that we were in a position to offer - but no one has called.
How long should I leave it before following up with the EA? Don't want to seem desperate, but also don't want to lose out on this one.
Thanks in advance.. as I said we are FTBers so not really sure of the etiquette.
Blimey, that's a big old mortgage to only have a 5% deposit on.0 -
I'd contact the estate agent after 24 hours if I hadn't heard anything. Normally I'd expect to hear back in a few hours, or perhaps overnight if the owners only pick up their messages in the evenings.0
-
Blimey, that's a big old mortgage to only have a 5% deposit on.
Yes, it is a bit daunting to be borrowing so much. The AIP is for £540k, so we are looking to actually borrow about 80% of what's on offer.
We could save more deposit and get to 10% in a few months, but then we forking out rent in the meantime.
We've also moved around a LOT in the last few years, so really want some stability and buy the house that we will live in until our toddlers are grown up. So we want to skip a couple of rungs of the ladder, which is doable.0 -
I'd contact the estate agent after 24 hours if I hadn't heard anything. Normally I'd expect to hear back in a few hours, or perhaps overnight if the owners only pick up their messages in the evenings.
I'm thinking along the same lines, so I'll probably wait until mid-morning tomorrow and give them a bell. Thanks0 -
you could arrange a viewing on another house with the estate agent and when asked why state you arent waiting around forever for a reply. Then casually drop into conversation you have other viewings on other properties lined up with other estate agents0
-
-
Guys! The OP made the offer yesterday! What's with this expectation of a near instant decision?
The sellers might not have picked up the message. they might need to talk to their other half who might be at work. They might want to mull it over. They could decide to see if other viewings/offers are forthcomibg. They might be having a baby. there are 1001 reasons for it to take longer than 24 hours to decide.
They are not selling a used pressure cooker on ebay - it's a £X00,000 decision!0 -
Thanks all.
I was a bit worried that maybe they hadn't passed the offer on yet. because their financial adviser was supposed to call to make sure we were in a position to offer. But they haven't called on the day they said they would.
I don't mind at all if the seller takes a couple of days to mull it over, but I might still give the EA a call anyway later today. We do have other viewings and the good properties don't stay on the market very long around here.0 -
It's quite a lot off the asking price, so if you haven't had a flat no by now I'd say it's a sign they are giving it consideration
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards