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Timing of offers and negotiations
Young_Turk
Posts: 48
Forumite
I received an offer on my flat a fortnight ago from a BTL investor. I countered with a higher price two days later. A week ago he replied that he wouldn't increase his offer.
I am waiting to see if someone else who viewed on Friday will put in an offer. The EA seemed fairly confident on Friday and said they would think about it over the weekend.
1) How long do you think I have to go back and accept the investor's offer?
2) How likely do you think someone will still be considering making an offer mid-week after a Friday viewing?
I've moved a couple times before. Each purchase and sale, offers, rejections and counter-offers have been fairly quick (I think always within a day or two), so I'm wondering how normal this is.
I am waiting to see if someone else who viewed on Friday will put in an offer. The EA seemed fairly confident on Friday and said they would think about it over the weekend.
1) How long do you think I have to go back and accept the investor's offer?
2) How likely do you think someone will still be considering making an offer mid-week after a Friday viewing?
I've moved a couple times before. Each purchase and sale, offers, rejections and counter-offers have been fairly quick (I think always within a day or two), so I'm wondering how normal this is.
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Comments
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They probably just said they would think about it over the weekend to get the estate agent of their backs. Weekend has gone now, if they were going to make an offer they probably would have by now. Or they may be trying to work how desperate you are to sell by seeing how long before you ask the estate agent to chase them.1
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How long is a piece of string ? The BTL investor may only be looking for one property & has already moved on, or he may be after dozens, but only at the right yield, so may be happy to continue.
Re the weekend offer, I'd expect this to have come though by now, but maybe the buyer has to work out what finances they can pull together.
All pure speculation & that's all any of us can do
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Thanks. The phrase "how long is a piece of string" did occur to me when I was writing the post!
I just thought some people who have a lot more experience might have a better an idea than me.0 -
My estate agent already chased before I asked them to! If would be a shame if they thought I seemed desperate on the basis of his behaviour.moneysavinghero said:They probably just said they would think about it over the weekend to get the estate agent of their backs. Weekend has gone now, if they were going to make an offer they probably would have by now. Or they may be trying to work how desperate you are to sell by seeing how long before you ask the estate agent to chase them.
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An interested party would have feed back positively by now.0
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They gave positive feedback to the EA at the viewing on Friday.Thrugelmir said:An interested party would have feed back positively by now.0
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