Asking price offer is not accepted!!

ahsanjalil

I was looking for a house when I came across the one I wanted. I offered initially 8K below asking price to agent. He said its very low, I booked another viewing. Than I offered only 3K below asking price, agent seems very happy. But next day he came back to me that seller has agreed a sale with someone else .. I even said if its because of money, I can buy on asking price but he said not its not like that.

House was in the market from 3 months, wonder why no body wasn't interested, but suddenly how seller found 2 buyers probably paying asking price.. is it possible that agent has noticed my interest in property and now doing some dirty trick?

Conrad

So the EA stands to gain a whopping £60.00 extra commision on £3000 higher price. If it was your business would you want to risk losing a buyer for £60.00?

C'mon

Running_Horse

You can't force someone to sell you their house. Move on.

N20Y1D

ahsanjalil wrote: »

I was looking for a house when I came across the one I wanted. I offered initially 8K below asking price to agent. He said its very low, I booked another viewing. Than I offered only 3K below asking price, agent seems very happy. But next day he came back to me that seller has agreed a sale with someone else .. I even said if its because of money, I can buy on asking price but he said not its not like that.

House was in the market from 3 months, wonder why no body wasn't interested, but suddenly how seller found 2 buyers probably paying asking price.. is it possible that agent has noticed my interest in property and now doing some dirty trick?

Call the agent tomorrow, explain you will not be held to randsom tell them you are giving them till close of business to either accept your offer or you will withdraw.

elsien

Maybe the other person is in a better position than you - not in a chain or something. Or perhaps the buyer just liked them more - odd, but it happens.

Jason74

Move on to the next house, and don't lose too much sleep over this one. While the talk of imminent market meltdown from the HPC mongers is seriously premature, the market has shifted very much from a sellers to a buyers market in recent Months. As such, unless the house is some kind of amazing one of special, another one will probably be along in no time.

Just sit back, and wait for the next one. You shouldn't be waiting too long

jonewer

Dont worry. There are plenty of other houses out there for you to buy. Tell them you are withdrawing your offer and reducing it by £5k.

Conrad - its not just one property the EA is ramping, its the whole local market. This one goes for another 3k, the next one by 6k, the next one 12k...... soon that adds up to some serious money for the EA.

ahsanjalil

Thanks guys for your valuable feedback, yes I have decided to move on, as a first time buyer I was not sure how things work in property market. May be seller prefer someone else or whatever. However in case if they come back to me before I found something else, I really like the idea to drop the offer.

Another quick question, is it good time to buy house or shall I wait until after Christmas? What is the best time of year to buy property?

Many thanks

movilogo

I am also in the same boat [FTB]. Buyers are still very reluctant to reduce price even by 5%. No one is willing to accept that price is really coming down (even today's BBC's first page says so). Remember, if price goes down, there is a good chance of FTBs being in negative equity. So, don't be in rush buying a house. One thing for sure, price will not go up at least for a long time.

CYBERCIDERSAVER

I'd hang on for a bit.

House prices have fallen for the second month in a row and enquiries have fallen for the 10th month in a row (according to the report on News 24)

I'm not a scare monger, just reporting what I heard today.

Hopefully some more recent BTLers will get cold feet at the thought of negative equity and sell up, starting a slippery slide downwards, enabling me to buy for the first time without stretching myself too far.

boyse7en

>> Buyers are still very reluctant to reduce price even by 5%. No one is willing to accept that price is really coming down

You could turn this on its head and say:
Buyers are still very reluctant to offer the asking price. No one is willing to accept that prices aren't really coming down.

At the moment the housing market is in a state of flux, and no-one is sure as to what it will do. Until this settles down you will find things tricky both as a buyer and as a seller (and remember, most people will be doing both at the same time)

Maybe the price of the house has been calculated already taking into account the drop in prices in that particular area, or maybe that area is still a rising market at the moment...