Withdrew offer above asking as seller wanted to continue with viewings

lookstraightahead

mortgage_noob said:

Yes will keep you updated, at the moment the highest is still a good 9k below our offer but they've still got 8 viewings tomorrow. 

To be honest I'm starting fall out of love with the house a bit, the initial excitement has worn off and now I'm being more rational and less attached, what will be will be and I'm sure something else will come along. At this point, not quite sure what I'll do and whether I'll bother resubmitting my original bid let alone increase it for the 'sealed bid'. The vendors have also not yet get a place lined up so there's the concern about timelines and whether they'd want more for it in a couple months time if they haven't found somewhere

I felt like this twice and removed offers, it's almost a sinking feeling.  But don't let me put you off Op, that wasn't my intention. I would never go to sealed bids but it's just my way.

We've just completed on a property where the vendors chose us at a lower offer as we were ready to move. It's all worked out well in the end.

mortgage_noob

Update: 

Emailed received inviting best and final offers and giving a deadline of next week, what details are to be included in the bid etc. The current highest is still 9k below ours. I'm honestly confused as to why this is being announced when there are still multiple viewings tomorrow. It's leaving a bit of a sour taste in my mouth about how this has all been conducted but it does give me time to view a property I'm quite keen on in the meantime.

I'm also confident that I did the right thing withdrawing our offer as this would have been disclosed to everyone. 

eidand

maybe this gives you an opportunity then, make another offer, in a week, 5k below your previous one and see what happens, If they say no, move on and find something else.

lookstraightahead

mortgage_noob said:

Update: 

Emailed received inviting best and final offers and giving a deadline of next week, what details are to be included in the bid etc. The current highest is still 9k below ours. I'm honestly confused as to why this is being announced when there are still multiple viewings tomorrow. It's leaving a bit of a sour taste in my mouth about how this has all been conducted but it does give me time to view a property I'm quite keen on in the meantime.

I'm also confident that I did the right thing withdrawing our offer as this would have been disclosed to everyone. 

I have to go back to the beginning. Very greedy sellers. Hope you get a really good deal op. Fingers crossed for you.

There is always another house and another deal to be had. "The One" is a really weird concept and there can be more than that. 

GJB1954

We viewed several properties this week. One the EA phoned us while travelling, saying that offers had already been put on property. We could still view if we wanted, but if we wanted to make offer.Had to be in by 5pm that day . Vendor would then decide. We actually saw someone view before us and after. We put in offer at 10k over asking price. We were notified Thursday afternoon property being sold to someone else. Looked today and property is still listed on right move and EA website. Our property is STC with a first time buyer, Their EA contacted our EA to check. This is area where most properties only on Right move etc a couple of days or do not even get on Right move listing. 

Albala

We had an offer accepted and had waited a long time for various legal processes on the seller's side, the HA would not take the house off the market, then another offer came in above ours. We were then given 'best and final'. We upped our offer, as did the other party, the other bidder's 'best and final' was below ours. Then the other bidder just upped their 'best and final'. The HA was legally bound to send that offer on, and wee very cross about it (there were legal reasons why every single offer was a complicated and difficult process to pass on to one of the sellers). The primary seller decided to accept our best and final, as we'd already waited about six months for some legal processes, and the court agreed with them....

saajan_12

All really makes less difference than everything seems to think..

Whether your offer is technically on or off the table, the seller / agent still know you were interested and can come back to you after their other viewings. Yes they run the risk of losing the 9k on top of the next highest offer, but have the potential upside that the upcoming viewers offer more or close that gap. 

Just continue viewing other properties yourself, and if / when they come back, you can decide then whether you still want the property and for how much. Remember you're buying the house, not the seller so don't cut off your nose to spite your face. 

mortgage_noob

No I won't be cutting my nose off to spite my face. I could offer more if I wanted but I'm viewing another place tomorrow and will make a decision then on what to submit for my best and final. 

lookstraightahead

Let us know how it all goes op. 

Thrugelmir

mortgage_noob said:

No I won't be cutting my nose off to spite my face. I could offer more if I wanted but I'm viewing another place tomorrow and will make a decision then on what to submit for my best and final. 

So your interest in this property wasn't that serious ....... the vendors read you correctly perhaps.