Made an offer - not rejected not accepted?

ses6jwg

Well guys we eventually have found a property we loved.

Lots more work than we thought but ticks the boxes we want it to.

Property came onto market last Thursday and we has a viewing on Saturday. Agent informed us that they had 5 other viewings that day and more next week.

Around 2 hours after viewing we called back and made an offer of £127500, property is on the market at £129950. The ea said vendor would consider offers as appreciate work is needed.

We were going to offer £125000 but hoped this higher offer would be accepted outright. The EA told us she would inform the vendor Tuesday but nbody else from thrower Saturday viewings had taken her number or called back.

Spoke to the EA today who told us despite her (apparantly) telling the vendor it was a very fair offer they have decided to continue with the viewings booked for this week.

We are FTB with no chain. Have sent a copy of decision in principle to the ea. How long should be we wait? Is the vendor hoping for a bidding war?

Any thoughts?

Surrey_EA

If a property has been on the market for less than a week it is not unusual for vendors to wait and see if they receive a higher offer.

If you like it that much, and it compares favourably to other properties you've viewed, then offer the asking price.

Alternatively, if you feel you've bid as much as you are prepared to then leave your offer on the table and wait and see if they receive other interest. They may come back and accept your offer at a later date, or someone else may put a better offer forward.

ReadingTim

Put yourself in the vendors' shoes. Would you take the first offer that came along on day 1, especially if you've got lots of other viewings lined up? Of course not. And in an ideal world, would you want 2 or more sets of bidders fighting over your property? Of course you would!

You're in a relatively strong position, so try and hold your nerve and sit tight. Even if there is other interest, even offers, only offer as much as you can afford and think it's worth. In the meantime, don't put your life on hold, so keep viewing other places. If you haven't heard from the EA by the end of this week, maybe ask for an update on Friday afternoon or Monday morning.

pinkpiglit

My guess is that yes, they are hoping for a better offer.

If I were you, I would continue your search (ideally with the same agent so they know you are looking at other places).

hazyjo

They're prob using your offer as leverage with other possibly interested parties. If making an offer, I'd always say 'I'd like to get this tied up today or asap if poss'. Act businesslike and forthright.


There was a thread on here last week I think where they lost it as someone paid more and the poster had said they were at their max. Not saying pay more, just be a bit pushier.


Jx

emmatthews

If I was the vendor I would wait and see what further offers, if any, the booked viewings generated.

To get an offer that close to asking price within two days would probably make me think, rightly or wrongly, that full asking price or possibly over would be achievable.

If the viewings don't generate further offers they may well accept yours.

glentoran99

Is someone has viewings booked then they aren't going to accept the first offer in the table

kinger101

You could always put a sunset on your offer. Stops them using it as leverage.

Rambosmum

If it's a popular property then I don't blame them for waiting. We put ours on the market, had a large number of viewings lined up for the first week, first couple to view made an offer 3K under the asking, we said we'd consider it but continue with the viewings. Ended up accepting and offer 4 days later 7k above the asking price. Both FTB with agreements in principle.

They probably want a better offer. If you really want it and think it's worth more, offer more. But I'd hang fire first. It will have been priced to reflect the obvious work needed and for the area.

AdrianC

Property goes onto market on Thursday.
By Saturday, there are a stack of viewings booked...

So you offered below asking price, and are surprised you've not heard immediately...?

<scratches head> Is it me?

toc25

If a property is really popular the vendor would be mad to accept the first offer when it's below asking price. If you want it, offer the asking price.