First offer accepted

warby68

OP you've already had a 'discount for quick sale' factored in by their acceptance of your first offer and show of good faith taking it off the market.

Its understandable you have the jitters but its also very important that you show the same sort of good faith and commitment - because the house buying process means anyone can pull out right up until the death, the trust and likeability of the people in process plays a really important part in getting deals done.

As long as you did your research and the price is 'there or thereabouts' for any comparables then probably stick with it for now. Once surveys are done there is a chance to renegotiate if there is something genuine affecting the price you should pay. If you're worried that their quick acceptance means there is something wrong, this is where it should show up.

You could withdraw your offer and put in a lower one because you feel you have the upper hand - they may even be motivated to accept but they won't like you any more and won't do you any more favours and might even look for an opportunity to shaft you back. If it were me, I'd put it back on the market as this would be an instant sign you are not to be trusted either because you pull fast ones or are too wobbly/uncommitted.

Margot123

I accepted a lower offer on my property back in August. This was because the buyers were in a position to complete quickly. I took the house off the market and the sold board went up.

We are now 4 months down the line and they have dithered and delayed to the point where I am either going to tell them to take a running jump or increase the price!

I'd suggest you either accept your offer was correct or pull out right now. You are being totally unreasonable expecting the seller to wait when you have basically agreed a quick turnaround. Everyone gets FTB nerves every time they buy, but you are a mature adult and need to make proper decisions as they affect all concerned (inc those you will not even have considered further along in the chain).

freeisgood

OP I would get on with it and purchase before they decide to up the price!

bowlhead99

warby68 wrote: »

As long as you did your research and the price is 'there or thereabouts' for any comparables then probably stick with it for now. Once surveys are done there is a chance to renegotiate if there is something genuine affecting the price you should pay. If you're worried that their quick acceptance means there is something wrong, this is where it should show up.

That makes plenty of sense

You could withdraw your offer and put in a lower one because you feel you have the upper hand - they may even be motivated to accept but they won't like you any more and won't do you any more favours and might even look for an opportunity to shaft you back. If it were me, I'd put it back on the market as this would be an instant sign you are not to be trusted either because you pull fast ones or are too wobbly/uncommitted.

I agree with that too. If I was the seller if the accepted offer changed before survey etc, I would either:

- if i was a motivated seller who needed to get a deal done, I would assume it was going to change again on survey, and again the day before exchange, so I would give up on that buyer immediately because what I need is an offer I can trust

Or

- if I wasn't desperate for the sale and had some time on my hands I would accept the new offer, and then on the day before exchange I would say we are going back to the original offer because I prefer that number, feel free to take it or leave it.

The buyer would be outraged and the estate agent mortified, but I would say to the buyer that I thought we can just change offers at any time because they're non binding, that's what you did a few months back.

Totally petty but a bit of fun if you can spare the time and a few hundred pounds of solicitor fees to waste their time on a buyer who might not complete. And at the end of the day their change of offer at the start indicates they might be flaky and not complete anyway...

Fed

What would you rather OP:

- Get the house you want at a price you must have been happy with and have a little regret that you might have got it for cheaper

- Get the house you want at 15k above your first offer but have the satisfaction you couldn't have got it for cheaper

I completely understand where you are coming from but the regret will fade, the 15k hole in the 2nd situation won't.

LdnFtB

You've got a vendor whose accepted a below asking price offer, and immediately withdrawn the property from the market to give you exclusivity. You're in a lucky position.

G_M

The only question outstanding is why you have not yet passed your solicitor's details to the seller,

(or are you planning to DIY the conveyancing, in which case write and say so!)

Marvel1

Ruthieo28 wrote: »

We offered 410 and the offer was accepted


we feel we are over paying for the house.

Why offer it in the first place?

shortcrust

If I were the seller in these circumstances it would be going straight back on the market. Who'd want to go through the process of a sale with someone who clearly can't be trusted?

parkrunner

Cheeky_Monkey wrote: »

Another example of a clueless FTB

Nothing wrong with being clueless as long as you are also reasonable.