Offer Rejected on house, now what

Majoggy

Wait a bit, then make a last and final offer. Not much else to do here.

wls52

Well we are prepared to up our offer to within close to their asking if we have to as we really like the house and are looking for a forever home not an investment, but the question is more if the advice we got about waiting for the other viewer is sound advice or if we might shoot ourself in the foot if we wait/don't wait. 

By the way, I'm not surprised the offer was rejected nor am I pouting about it. It was a very low ball offer to see their reaction. Simply seeking advice on wether we should up our offer now or hold fire to see if they submit an offer too. The EA wasn't much help in hinting at what they'd accept, just said we are welcome to submit a higher offer. 

I'm guessing an EA would tell us if an offer has been submitted from another buyer too? 

[Deleted User]

The E A selling that house is working for the other side, not you, they may well not be as open as you expect them to be, go with your own gut feelings and stick to them.

AdrianC

dinkylink said:

Perhaps, but if it's been for sale for over a year that asking price is probably pretty unrealistic.

But we know that the vendor isn't that bothered if it doesn't sell. They're happy to wait for the right price.

wls52 said:

I'm guessing an EA would tell us if an offer has been submitted from another buyer too? 

Why? You've shown no sign of wanting to get anywhere close to the vendor's desired price, so there's little point in trying to start some kind of bidding war.

If the other buyer's offer is close to asking, then it's waaaaaay above your lowball. It's not as if they're just a little bit above yours that was on the cusp of being accepted.

Doozergirl

wls52 said:

Well we are prepared to up our offer to within close to their asking if we have to as we really like the house and are looking for a forever home not an investment, but the question is more if the advice we got about waiting for the other viewer is sound advice or if we might shoot ourself in the foot if we wait/don't wait. 

By the way, I'm not surprised the offer was rejected nor am I pouting about it. It was a very low ball offer to see their reaction. Simply seeking advice on wether we should up our offer now or hold fire to see if they submit an offer too. The EA wasn't much help in hinting at what they'd accept, just said we are welcome to submit a higher offer. 

I'm guessing an EA would tell us if an offer has been submitted from another buyer too? 

If you like the house then 'guessing' what the EA does isn't really a plan. 

Your offer has been rejected.  The expectation is that you make another offer.  

If someone else comes in and offers slightly under asking and you have one rejected offer of £50k under with no follow up, I'd question how interested you were even if the estate agent did chase you up. 

I'm right in the middle of it myself and there's a certain amount of 'who is serious' in our consideration.  Being keen is a quality that I have always wanted in buyers.  I want people to be emotionally invested, because I feel that is what carries it over the line to completion.  

HummingBird76

wls52 said:

Well we are prepared to up our offer to within close to their asking if we have to as we really like the house and are looking for a forever home not an investment, but the question is more if the advice we got about waiting for the other viewer is sound advice or if we might shoot ourself in the foot if we wait/don't wait. 

By the way, I'm not surprised the offer was rejected nor am I pouting about it. It was a very low ball offer to see their reaction. Simply seeking advice on wether we should up our offer now or hold fire to see if they submit an offer too. The EA wasn't much help in hinting at what they'd accept, just said we are welcome to submit a higher offer. 

I'm guessing an EA would tell us if an offer has been submitted from another buyer too? 

If you are prepared to offer close to the asking price, and you love the house, then go ahead and offer close to the asking price.  I I do think you might end up shooting yourself in the foot if you start playing these games (I realise you are not necessarily intending to, but going on the EAs advice).  Offer what you think the house is worth, to you, and what you are willing to pay for it, knowing that if that offer is then rejected, you are happy to walk away because you wouldn't have went any higher.  Go for it!

Swasterix

wls52 said:

Well we are prepared to up our offer to within close to their asking if we have to as we really like the house and are looking for a forever home not an investment, but the question is more if the advice we got about waiting for the other viewer is sound advice or if we might shoot ourself in the foot if we wait/don't wait. 

By the way, I'm not surprised the offer was rejected nor am I pouting about it. It was a very low ball offer to see their reaction. Simply seeking advice on wether we should up our offer now or hold fire to see if they submit an offer too. The EA wasn't much help in hinting at what they'd accept, just said we are welcome to submit a higher offer. 

I'm guessing an EA would tell us if an offer has been submitted from another buyer too? 

You’ve offered £60k below asking price on a property where the vendor isn’t particularly bothered about selling. In all likelihood the vendor/EA see you as a chancer/time waster. To be blunt, I would imagine that when your offer came in they laughed and moved on without a second thought. You’re probably going to have to get significantly closer to be taken seriously. Even then, if it were me, I’d be particularly sceptical about dealing with you. 

Slinky

If I was the vendor I wouldn't be considering you as a 'motivated' buyer, more a chancer. Certainly if somebody came in offering say £600K, I wouldn't be asking the EA to go back and try to get you to up your game, I'd be negotiating with somebody who was much closer to my asking price.

We had somebody offer £220K against our asking price of £237.5K years ago, they crept it up by £1K increments until they got to £226K. We'd already had a sale fall through at £232K. Shortly after we accepted £235K from someone else. We didn't bother going back to the folk who started at £220K, they weren't playing a game we were interested in.

eve824

If I was the vendor I would think you were a dreamer and dismiss your interest. The offer would have been insulting to me. I would be much more likely to take another offer, even if it was lower, from people who were reasonable and serious about it from the get go. I really think you've shot yourself in the foot here. Why go in so lowball if you are happy to pay close to asking?!?!

Ftb2019_3

Comments on here are ridiculous. Its been on the market for a year. 10% isn't too ridiculous. A property near me was on the market for over a year at 270k. Just came up on land registry for 235k.

Good luck selling the house for close to asking in a few months time when you haven't for the past 12.