Made an offer

justwhat

Shaztastic3000 said:

NameUnavailable said:

Of course if they come back to say they'd like to accept your offer it means that they probably haven't had anything better so you could say you've reconsidered and now offer X less!

My mate did this and he was blacklisted for life

by who....lol a single solicitor. Perfectly within your rites to do this. 

justwhat

NameUnavailable said:

Shaztastic3000 said:

NameUnavailable said:

Of course if they come back to say they'd like to accept your offer it means that they probably haven't had anything better so you could say you've reconsidered and now offer X less!

My mate did this and he was blacklisted for life

You're not allowed to say that these days.

You are .....take my offer of Xk now and remove property from market now. or my offer is withdrawn.
then re-offer

make an offer of Xk and seller announces they are going to a closing date. you then tell them you are withdrawing the offer if they do that. perfectly legal thing to do if you have the guts.

justwhat

C1996 said:

The man who showed me round told me that they are not doing best & final offers so I just feel that it is unfair that they’re still going ahead with viewings, especially when I have had my appointments to view houses cancelled in the past because vendors have accepted offers. 

There probably isn’t any advice anyone can give me, I just feel very frustrated. It doesn’t appear that this property has had that much attention unlike pre stamp duty holiday.

There are a multitude of reasons for continuing the viewing's.  They may be looking for a cash buyer, they may not have found a property themselves. 

Next time you put an offer in tell them it is provided they take it off the market and do not have anymore viewings. if your a cash buyer let them know.  or the offer is  withdrawn. 

its a negotiation always remain in control as much as you can in the negotiation.

 You sitting there like a lemon with the seller sitting on your offer is not good.  lol
Also Closing dates for a buyer are not good. 

The seller can now sit there with your offer on the table wait for a better one. Or a better buyer with cash. If there is 2 or more competing offers they may go to a closing date , you really don't want that .

lookstraightahead

C1996 said:

lookstraightahead said:

There is nothing you can do unfortunately. There are lots of vendors out there who want to get more than the house is worth, and risk having it down valued, or genuinely do think their house must be worth more for someone to snap it up so quickly.

if I were the vendor I would look at your situation - are you chain free, do you have your deposit ready, are you ready to move. If so, i would accept your offer because life moves on and I would be happy to be moving as who knows what's going to happen to the market.

if I were the buyer (you), I would have first looked at whether the vendors situation suits you - are they ready to move? Are they going to spend forever looking for their (dream 😖) home? Are they just going to leave you hanging around and use you as a 'tool' to help them buy?

if I were you, and I'm not (as it risks / means losing a property you want), I would tell them thank you very much and walk away. 

It does work both ways of course - they might find people offering well over and then pulling out, or the house being down valued, etc.

it's not a fair game really is it. Of course the agent will now tell viewers there is already an offer on the table to try and sway others.

I pulled out of a sale as the agent said someone else had made a higher offer. It's still on the market now.

The vendors are selling their deceased parents property so they also wanted to discuss it amongst themselves as siblings. The estate agent said that the vendor was pleased with the offer but wanted to continue with the other viewings.

Wish you had said this in the first place, what is the probate situation? Are they actually ready to sell? If not you could be hanging on for literally years.

TheJP

justwhat said:

C1996 said:

The man who showed me round told me that they are not doing best & final offers so I just feel that it is unfair that they’re still going ahead with viewings, especially when I have had my appointments to view houses cancelled in the past because vendors have accepted offers. 

There probably isn’t any advice anyone can give me, I just feel very frustrated. It doesn’t appear that this property has had that much attention unlike pre stamp duty holiday.

There are a multitude of reasons for continuing the viewing's.  They may be looking for a cash buyer, they may not have found a property themselves. 

Next time you put an offer in tell them it is provided they take it off the market and do not have anymore viewings. if your a cash buyer let them know.  or the offer is  withdrawn. 

its a negotiation always remain in control as much as you can in the negotiation.

 You sitting there like a lemon with the seller sitting on your offer is not good.  lol
Also Closing dates for a buyer are not good. 

The seller can now sit there with your offer on the table wait for a better one. Or a better buyer with cash. If there is 2 or more competing offers they may go to a closing date , you really don't want that .

I always make sure that when I make an offer that if accepted its off the market. First time it was off straight away however that wasn't during this crazy boom. The second was in March, they accepted my offer but wouldn't take it off the market until i had an offer on my property.

On the flip side, i had an offer of asking price with 1 viewing the next day and they wanted it off the market. I decided to keep it on and let the viewing happen. They both offered asking with it going to best and final, the person who made the first offer ended up offering more.

Its frustrating but perfectly normal in a busy market.

lookstraightahead

trailingspouse said:

I've just been at the other side of this, as the vendor.

House went on the market on the Friday, 6 viewings booked across the Monday, Tuesday and Wednesday. First person to view made a full-asking-price offer. I thanked him, but said I wanted the other people to have a chance to view. In the end we got 3 asking-price offers, so it went to best-and-final.

Why didn't we just accept his offer? Because the asking price of a house is only ever an educated guess as to how much it's worth. The house is actually worth what someone is prepared to pay for it (might be more, might be less). Of course we want as much as we can get for it, why wouldn't we?

I'm looking at houses to buy later this week, and will, of course, be looking for a bargain. If a house has everything I'm looking for, but has been on the market for a while, or needs lots of work doing, I'll be offering under the asking price. Of course I want to spend as little as possible, why wouldn't I?

That's how the housing market works.

I don't think everyone tries to get as much as possible, all things being equal. I think situation plays a big part.
Personally I would never entertain best and final. 

A house is only worth what money people can scrape together, so you might have buyers who offer more, but the bank is finally unwilling to lend as they down value. Or you could have cash buyers who offer less, but they are in a great position as the banks don't have an input.
The op I think isn't in a chain which trumps anyone having to sell in my opinion, and I worked accept less for that type of buyer.

Flugelhorn

lookstraightahead said:

C1996 said:

lookstraightahead said:

There is nothing you can do unfortunately. There are lots of vendors out there who want to get more than the house is worth, and risk having it down valued, or genuinely do think their house must be worth more for someone to snap it up so quickly.

if I were the vendor I would look at your situation - are you chain free, do you have your deposit ready, are you ready to move. If so, i would accept your offer because life moves on and I would be happy to be moving as who knows what's going to happen to the market.

if I were the buyer (you), I would have first looked at whether the vendors situation suits you - are they ready to move? Are they going to spend forever looking for their (dream 😖) home? Are they just going to leave you hanging around and use you as a 'tool' to help them buy?

if I were you, and I'm not (as it risks / means losing a property you want), I would tell them thank you very much and walk away. 

It does work both ways of course - they might find people offering well over and then pulling out, or the house being down valued, etc.

it's not a fair game really is it. Of course the agent will now tell viewers there is already an offer on the table to try and sway others.

I pulled out of a sale as the agent said someone else had made a higher offer. It's still on the market now.

The vendors are selling their deceased parents property so they also wanted to discuss it amongst themselves as siblings. The estate agent said that the vendor was pleased with the offer but wanted to continue with the other viewings.

Wish you had said this in the first place, what is the probate situation? Are they actually ready to sell? If not you could be hanging on for literally years.

Quite! probate is never straightforward, unless there is only one exec and one beneficiary you will never get a quick answer - also as @lookstraig@lookstraightahead says it could take ages, I viewed one a few weeks ago where they hadn't even applied for probate let alone got it 

julicorn

justwhat said:

NameUnavailable said:

Shaztastic3000 said:

NameUnavailable said:

Of course if they come back to say they'd like to accept your offer it means that they probably haven't had anything better so you could say you've reconsidered and now offer X less!

My mate did this and he was blacklisted for life

You're not allowed to say that these days.

You are .....take my offer of Xk now and remove property from market now. or my offer is withdrawn.
then re-offer

make an offer of Xk and seller announces they are going to a closing date. you then tell them you are withdrawing the offer if they do that. perfectly legal thing to do if you have the guts.

NameUnavailable was making a hilaaaaaarious joke about political correctness there, rather than elaborating on your example. 

74jax

justwhat said:

NameUnavailable said:

Shaztastic3000 said:

NameUnavailable said:

Of course if they come back to say they'd like to accept your offer it means that they probably haven't had anything better so you could say you've reconsidered and now offer X less!

My mate did this and he was blacklisted for life

You're not allowed to say that these days.

You are .....take my offer of Xk now and remove property from market now. or my offer is withdrawn.
then re-offer

make an offer of Xk and seller announces they are going to a closing date. you then tell them you are withdrawing the offer if they do that. perfectly legal thing to do if you have the guts.

Blacklisted was the point he was making. 

sammyjammy

Flugelhorn said:

lookstraightahead said:

C1996 said:

lookstraightahead said:

There is nothing you can do unfortunately. There are lots of vendors out there who want to get more than the house is worth, and risk having it down valued, or genuinely do think their house must be worth more for someone to snap it up so quickly.

if I were the vendor I would look at your situation - are you chain free, do you have your deposit ready, are you ready to move. If so, i would accept your offer because life moves on and I would be happy to be moving as who knows what's going to happen to the market.

if I were the buyer (you), I would have first looked at whether the vendors situation suits you - are they ready to move? Are they going to spend forever looking for their (dream 😖) home? Are they just going to leave you hanging around and use you as a 'tool' to help them buy?

if I were you, and I'm not (as it risks / means losing a property you want), I would tell them thank you very much and walk away. 

It does work both ways of course - they might find people offering well over and then pulling out, or the house being down valued, etc.

it's not a fair game really is it. Of course the agent will now tell viewers there is already an offer on the table to try and sway others.

I pulled out of a sale as the agent said someone else had made a higher offer. It's still on the market now.

The vendors are selling their deceased parents property so they also wanted to discuss it amongst themselves as siblings. The estate agent said that the vendor was pleased with the offer but wanted to continue with the other viewings.

Wish you had said this in the first place, what is the probate situation? Are they actually ready to sell? If not you could be hanging on for literally years.

Quite! probate is never straightforward, unless there is only one exec and one beneficiary you will never get a quick answer - also as @lookstraig@lookstraightahead says it could take ages, I viewed one a few weeks ago where they hadn't even applied for probate let alone got it 

Its not always like that, my Nan dies March 2020 and despite no house deeds and house not being digitally registered the inheritance of five children and 13 grandchildren was paid out in full within 9 months.