Vendor waiting for more viewings

smiffy12_2

Hi all,

We are first time buyers. so no experience in negotiating etc, was hoping for some help. We put in an offer on a flat yesterday. EA called to say that he will pass on the offer to the vendor but they are still going to hold viewings this weekend basically in the hope that they will get more interest and I should expect to hear back early next week. Is it reasonable for me to go back to him saying that our offer is subject to flat being taken off the market and future viewings cancelled?

Thanks a lot

AJ1982

Your offer has not been accepted. The Vendor obviously wants more offers and / or interest.

Rain_Shadow

smiffy12 wrote: »

Hi all,

We are first time buyers. so no experience in negotiating etc, was hoping for some help. We put in an offer on a flat yesterday. EA called to say that he will pass on the offer to the vendor but they are still going to hold viewings this weekend basically in the hope that they will get more interest and I should expect to hear back early next week. Is it reasonable for me to go back to him saying that our offer is subject to flat being taken off the market and future viewings cancelled?

Thanks a lot

It wouldn't be unreasonable to ask for it to be taken off the market after your offer is accepted.

AdrianC

smiffy12 wrote: »

Hi all,

We are first time buyers. so no experience in negotiating etc, was hoping for some help. We put in an offer on a flat yesterday. EA called to say that he will pass on the offer to the vendor but they are still going to hold viewings this weekend basically in the hope that they will get more interest and I should expect to hear back early next week. Is it reasonable for me to go back to him saying that our offer is subject to flat being taken off the market and future viewings cancelled?

It's reasonable to ask, yes. But you have to be willing to back it up.

"My offer will be withdrawn if you go ahead with more viewings this weekend"
Oh, OK. Thanks, but we'll be continuing with the viewings.
<Monday>
"No more offers came in - so are you still interested? If so, your offer will be accepted."

Now, do you back down from your ultimatum, or do you stand by it?

Surrey_EA

If your offer is not at the asking price then it is perfectly reasonable that the vendor wishes other viewings to take place, with the hope of achieving as high a price as possible.

In the event your offer is accepted it is reasonable to expect the property to be marked as under offer/sold subject to contract, and no further viewings to take place.

smiffy12_2

Its OIEO £290k we offered £290k. It was sold last month but is back on the market so hoping the vendor is looking for a quick turnaround

Nick_C

Sold last month but back on the market - what's wrong with it?

Has the price gone up since the last sale?

Unless the property has had substantial improvements made to it during that month, isn't there a risk that the valuer will value it as what it sold for previously?

smiffy12_2

sorry worded wrong. Vendor accepted offer last month but buyer pulled out.

AdrianC

smiffy12 wrote: »

sorry worded wrong. Vendor accepted offer last month but buyer pulled out.

Yes, but why...?

Did they find the planning application for a sewage plant next to the back garden? Did they notice the battle-to-the-death between the Japanese Knotweed and the dry rot? Did they recognise the neighbours in the local paper's crime column?

Or were they simply made redundant, or their sale collapsed?

smiffy12_2

Buyer bought it for her Daughter who was returning from Australia, she got back and decided she didn't like it. Obviously taking this info with a pinch of salt

Hoploz

It's just one of those things. If you were the seller you'd wnt to get the best price. If you've got lots of viewings lined up you would be keen to let them see it and see whether you could get a better price.

I'd think particularly if they've had a sale fall through they will want the other people to see it - if they accept your offer and you then pull out they will have others who have already seen it and they might be able to keep their chain together without having to go back to market from scratch again.

You have two options here.
1) Sweat it out and see what happens on Monday
2) ask what figure would make them cancel the future viewings.

If you do 1) then chances are if someone else offers they will still come back to you and give you a chance to increase, rather than just accept the other offer. Or nobody else might offer. How busy is the market around there?