Is this cash buyer playing a game?

[Deleted User]

We definitely need to calm down and wait as it’s early days. It’s the first time we have been through this so the initial offer was very exciting, but it’s just strange not knowing where you stand not long after rejecting. Will see what tomorrow brings...

eidand

MEY010621 said:

We definitely need to calm down and wait as it’s early days. It’s the first time we have been through this so the initial offer was very exciting, but it’s just strange not knowing where you stand not long after rejecting. Will see what tomorrow brings...

The way I look at it is like this, if they really want the house they will offer more. Some dreamers are just looking for bargains. Some cash buyers would buy anything cheap and demand big discounts because they imagine their cash is king they and can ask for anything they want.

Don't get too excited. Over 2 months of being on the market I had 9 offers, 4 were from dreamers, 2 I actually accepted and then they changed their mind in less than 24 hours. Current buyer made several incremental offers until they got to the point where we were happy to accept. Still, I am not holding my breath. Anything can happen and people get cold feet. House selling is not a quick game ...

MalMonroe

I rent at the moment but in the past when I was married we bought and sold a few houses.

First thing to remember is that you have the whip hand, you are the ones with something that others want. 

Prospective buyers aren't doing anything underhanded, they're just trying to see if they can get away with offering very low. And if you watch any programmes like Location, Location, you'll see this is what Phil and Kirstie do on there, too. But they play cleverly and only if they know that there's no chance with a low offer will they advise buyers to offer the asking price. 

It's a game, and it's always been a game. 

But you do have time to wait and see what other offers you get. And then you can choose your best buyer. 

In the meantime, hold your nerve, you're in charge and if you can wait for an offer that you like there's no harm in just doing that.

Chilli6

When I sold last year I had someone put in an offer 8% below asking. It was only on at £140,000 so I wanted much closer to that. He came back every 4-5 days adding another couple of grand. Ended up selling to him for full asking price as he really wanted it and a 2nd viewer then offered against him.
Be patient, I sold after 8 weeks but first offer was 6 weeks in. You're doing great to get this much interest this early on. Wait and see what happens as if you get two interested people they may well compete and push their offers up

AskAsk

no, he isn't playing games.  he has decided to increase his offer and would like the estate agent to know this so that he doesn't get left out of the bidding.  he may be taking time to look at other properties before he can make up his mind how much to increase his offer.  he may also be looking at raising more money to increase his offer, so i don't think this is that unusual.  however, until he comes back (and there is a high likelihood he won't), i would forget about him and see what else comes up.

NameUnavailable

You want to know where you stand? Exactly where you are! With a house up for sale and no acceptable offer. You just carry on letting your estate agent try to get buyer in the door and wait for an acceptable offer. If the other guy comes back with a higher offer you can decide what to do then but my guess is he'll go up in baby steps.

I don't see anything wrong with making a cheeky offer as a buyer, if they are cash buyers or with no chain - the worst that can happen is the vendor says no (within reason as always).

ElizabethRose

You have another viewer and it has only been a week don't worry. 

I would make sure your estate agents fully vet he is a cash buyer before accepting an offer as you don't want to accept his over someone else and then find out he needs a mortgage 6 weeks into the process. 

getmore4less

 put it up for sale a week ago

I think you get 2 weekends of viewing out the way before considering any offers unless you get silly good ones even then its worth the  "it is under consideration" resonce and get he EA to validate the buyers position, that buys a few days.  

rik111

If you are getting viewings and have more booked, please do not reduce your price, if it was overpriced you wouldn’t be getting viewings ! 10k is a lot of money and patience costs nothing. And from your description your house sounds like a steal at 205k. You might be pleasantly surprised and end up with two buyers fighting over it and get over asking. 

cymruchris

You obviously want to sell - but is there a significant reason that it needs to be sold yesterday? Keep calm, take a breath, and be patient. Keep up the viewings. It sounds like your price is in the right ball-park - so don't worry too much if this cash buyer ends up walking away. There'll be other offers I'm sure.