Vendor won’t accept offers until they’ve found a property

getmore4less

Thanks let me know when they are ready to seriously consider offers and proceecable.

Keep looking.

If you find somewhere else one last are they ready before spending any money on either.

akira181

Estate agents aren't always accurate or even truthful when it comes to other offers they have received, they're not allowed to tell you the exact amount others have offered. I've had an EA tell me that offers of over 180K were refused and tried to get me to offer higher. I said 162 was my final offer and told them to forward it on. It went to a closing date and sold for 167k so likely an EA trying to pad their commission.

It sounds like the vendor is in no rush to sell and will only do so when they have found a place they like. I'd just tell them that you plan to continue looking but your offer stands until you find somewhere else.

Alternatively, a colleague at work was in a similar position. Liked a property and there were a few offers on the table but the owner was not ready to accept any offers until they found a place. My colleague spoke to vendor and basically said that he loved the property and was in no rush to move in. If they were willing to accept his offer to secure the property and take it off the market, he was willing to wait up to a year for them to move out. They accepted and 5 months later, he was in. Not sure if there are any risks to this type of offer but it worked out well for him.

ThePants999

Vendors are being pretty silly - they're going to eventually find a house they love, and then their offer on it is going to be rejected because their own house isn't sold...

diggingdude

I would leave it on the table, to be honest i would probably drop it by a grand and leave it on the table. Then keep looking and find something actually for sale

Thrugelmir

ThePants999 wrote: »

Vendors are being pretty silly - they're going to eventually find a house they love, and then their offer on it is going to be rejected because their own house isn't sold...

Market is dying down. Likelihood is that they'll be waiting until the spring now.

GDB2222

Thrugelmir wrote: »

Market is dying down. Likelihood is that they'll be waiting until the spring now.

You make it sound like that's A Bad Thing.

It's much nicer to move in the spring.

MaxiRobriguez

The EA has said your seller won't move until she finds the right place, when they could have said she'll only sell for £200k. There is a difference, the extra £4k means nothing, your seller isn't moving and the house isn't for sale despite the fact it's on the market.

Move on. Leaving an offer on the table is going to give you a conflict of interest if you find somewhere else, despite the fact you only have the possibility of actually buying one of the properties.

SJ85

Thanks everyone for their replies and advice. Had a few calls back and forth with agent today. The vendor is looking for a house apparently and willing to accept the asking price and market the property as sold STC until she finds a place.

However my concern now is if we offer the 200K asking price what’s to stop the EA going to the other offer and telling them to do the same (apparently they have a legal obligation to do this). So we could end up driving the price up.

If reference to some of the answers the area we’re buying is extremely popular and house have been selling with the week and often for well over asking price.

We want the house and EA has told us that we’ve shown the most interest so we would probably be her preferred buyer, not sure if this is BS.

Anyone else had experience of this?