Offer made seller holding out for more viewings....what would you do?

RelievedSheff

missymoneypenny said:

Snookie12cat said:

To add, you are not a cash buyer at all at this stage, so not that desirable. You have a house to sell. You might not need to complete at the same time but you are in a chain. If you don't sell it, they don't get their sale.

At this stage I'm the only one who's made an offer, that's pretty desirable  

Depends on how good that offer is.

Not every offer is desirable. 

oystercatcher

You are offering 20K under their asking price, that's not a particularly good offer the way the market is where I am.

missymoneypenny

oystercatcher said:

You are offering 20K under their asking price, that's not a particularly good offer the way the market is where I am.

3% under ask isn't a bad interim offer.

propertyhunter

I lost out on my dream home by going under asking because I only wanted to pay what is was 'worth'. I could have paid £25-30k more for it - but no I went under asking, lost the bid and low and behold this weekend I am viewing another house that is less desirable but listed for 50k more. If you want it, I would just pay the extra £20k on the condition they take it off the market. I hate a seller's market as much as you do, trust me. 

TXC

I wasted so much time and lost so many houses at the start of my search by placing "getting a bargain" as my top priority (whether I could afford asking or not) - could kick myself now as I'm still searching and prices are only going up! not averse to going over asking as extra 5 - 10% over the course of x amount of years is negligible (although in my experience with offering over - the banks eventually have something to say about that!) 

minefield 

missymoneypenny

Yes, I do agree with you both - I'm really not trying to get a bargain!! I was just trying to open the negotiations at a reasonable point, as I knew from both agents at that point after a week and a half of viewings they'd had no offers, and I knew it'd sold only a few months ago for 30K less than their ask.

Anyway, I 'll let you all know what happens! 

breaking_free

Missmoneypenny I feel for you, as I'm sure does everyone else. But I have to agree with the other posters - the sellers would be foolish not to entertain other viewers (even if it's just to have a backup if a sale falls through).

I've exchanged today with completion on Monday. I did my homework and managed to negotiate £7.5k off because nobody else was offering: even so, I still wondered if I was overpaying. Roll forward to today, 3 months later and prices have continued to climb. Looking on Rightmove the price I paid for my place now seems quite reasonable. Strike while the iron is hot if you can afford to - good luck.

TripleH

Why are they re-selling so soon?

Can you find the previous advert to see if there is a difference with the property?

It might look a desirable property but you need to know why they are selling so soon in case there is an issue with the property they have found out and are wanting to off load it.

Plus depending on your circumstances, you might find it hard to get a mortgage I'd it was bought so recently.

badger09

TripleH said:

Why are they re-selling so soon?

Can you find the previous advert to see if there is a difference with the property?

It might look a desirable property but you need to know why they are selling so soon in case there is an issue with the property they have found out and are wanting to off load it.

Plus depending on your circumstances, you might find it hard to get a mortgage I'd it was bought so recently.

Think you've misread OP. Previous property sale (last year STC?) fell through and property is now listed at higher price.

Also OP says they will be cash purchaser once sale of current home completes.

missymoneypenny

Correct. Sale fell through.