Strange estate agent behaviour

Anonymous12345

I’m keeping them waiting as they can only prove to my agent that they have part of the funding to cover their offer. I will consider accepting what they can draw together so I can proceed but would prefer to get the price I have asked for as I cut dramatically for a quick sale.

There is no chain on this property.

Thanks, I always forget about snail mail and it’s benefits.

AnotherJoe

Anonymous12345 wrote: »

I’m keeping them waiting as they can only prove to my agent that they have part of the funding to cover their offer. I will consider accepting what they can draw together so I can proceed but would prefer to get the price I have asked for as I cut dramatically for a quick sale.

There is no chain on this property.

Thanks, I always forget about snail mail and it’s benefits.

Take a look in the mirror ! . That's what they doing to you. I'm surprised they are even entertaining your "offer" since you are in no position to make it.
Your only hope is that they are in no rush to sell but it might be you'd have been better off dropping your selling price by £15k and upping your offer by £20k instead of keeping your price as it is and upping your offer by £35k, or something like that. That is if that price drop would allow your buyers to proceed. Simply raising your price doesn't necessarily make you a much stronger bidder unless you become proceedable.

Anonymous12345

I’ve already dropped by £35k and accepting the offer as it is would be a further £15k which I will do if I have to. I’m mindful that if I don’t get the house I will look for another as I feel I’ve committed to the quick sale offer and should honour it. Another reason why I’m being cautious.

On the property I want, I have raised my offer £35k above asking and can afford to go a little further but this is where I’m not sure if I do it before the decision is made on Monday or if it goes to sealed bids on Monday I will have already shown my hand and the agent is clearly sharing offers, assuming they are genuine.

Flugelhorn

I suspect that if there are cash offers on the table then the vendors will not be interested in anyone who is in a chain particularly if they haven't accepted an offer on their property.

Recently sold a property, agents took formal offers from cash buyers but referred to the others as "offers of interest"

Okrib

I would recommend my client takes the cash offer.

What i suspect is happening is that there are viewings / second viewings lined up for the weekend and the vendor wants those to play out.

Then I imagine on Monday afternoon all interested parties will be asked to present their best and final offers in writing by a certain time. The vendor will then choose the one they think is the best.

Given what you have said I very much doubt you will get the house. Sorry.

AnotherJoe

Anonymous12345 wrote: »

I’ve already dropped by £35k and accepting the offer as it is would be a further £15k which I will do if I have to. I’m mindful that if I don’t get the house I will look for another as I feel I’ve committed to the quick sale offer and should honour it. Another reason why I’m being cautious.

On the property I want, I have raised my offer £35k above asking and can afford to go a little further but this is where I’m not sure if I do it before the decision is made on Monday or if it goes to sealed bids on Monday I will have already shown my hand and the agent is clearly sharing offers, assuming they are genuine.

My point was, instead of raising by 35 you could have perhaps dropped another 15 and raised offer 20, which comes to the same thing, and been a better quality buyer (that is, if it meant your buyers coudl then buy).

I think most sellers will regard your price rises as fanciful as you cannot back them up. I'm currently selling a place, I don't count offers from people who aren't proceedable as anything but validation my price is in the right ballpark.
You might get lucky though. Good luck.

Anonymous12345

I agree, I think my chances are slim.

Points taken on board so I will review this weekend.