Asking price offer

[Deleted User] · 30 January 2022 at 2:37PM

Hi There,

Friday lunchtime we offered the asking price on a house. We didn’t hear anything Friday, so yesterday I called the agents for an update and they said the seller hasn’t got back to them to accept the offer.

As we’ve offered the full asking I am confused with what the hold up is, I am guessing they’re waiting for another asking price offer to pit us against each other, but just surmising. We wouldn’t increase our offer if this happened anyway.

My question is, is it acceptable to give the seller a deadline to accept or decline?

The market is moving really quickly at the moment so we need to continue booking viewings and trawling the websites to avoid missing out but obviously I don’t want to waste anyone’s time if the offer turns out to be accepted.

Belleofthebooks · 30 January 2022 at 2:53PM

You only offered on Friday, they may have other viewings booked, or they may have other offers that they are considering. Don't give them a deadline, they will take as long as they take. Just because you offered asking price doesn't mean they will automatically accept. You should keep on viewing and considering other properties, you're not wasting anyones time.

[Deleted User] · 30 January 2022 at 3:07PM

Thank you!

A little unfair all round to continue having viewings after being offered the asking price despite them not being obligated to accept in my opinion.

Thanks for your thoughts

Belleofthebooks · 30 January 2022 at 3:12PM

It's not a personal thing, buying and selling is a business transaction and nothing more. It's not unfair at all for the seller to continue viewings after an asking price offer. They are looking for the most suitable buyer to sell too and that might not be you just because you've offered asking. You are free to offer and look at other houses.

[Deleted User] · 30 January 2022 at 3:19PM

I didn’t say it was personal.

I see from the sellers perspective they are greedy and want to try to squeeze more than they advertised for and from a buyers perspective it is unfair to have them waste time looking at a property which is advertised for a price and to then be expected to offer more than that.

Again thank you for your thoughts, I have mine and you have yours

powerful_Rogue · 30 January 2022 at 3:29PM

Deleted_User said:

I didn’t say it was personal.

I see from the sellers perspective they are greedy and want to try to squeeze more than they advertised for and from a buyers perspective it is unfair to have them waste time looking at a property which is advertised for a price and to then be expected to offer more than that.

Again thank you for your thoughts, I have mine and you have yours

Talk about being impatient! If this is your first time buying, good luck!

youth_leader · 30 January 2022 at 3:31PM

This happened to me Deleted_User, I hope you have a successful outcome.

I was first to view on the Saturday morning, and rang to offer full asking when I left the property. The EA said the vendor had three more viewings booked in and wanted them to proceed, so I had an anxious wait over the weekend. The location and property for me was perfect, I day dreamed about how much over asking I'd have to pay to secure it!

On the Monday the EA rang me to say two other viewers had offered asking, one under - but they had phoned at 9 am to up their offer to full asking. The EA went on to say the vendor had chosen me (cash in the bank buyer), if I could offer over asking. As I was saving on stamp duty I offered that figure and it was accepted.

[Deleted User] · 30 January 2022 at 4:17PM

powerful_Rogue said:

Deleted_User said:

I didn’t say it was personal.

I see from the sellers perspective they are greedy and want to try to squeeze more than they advertised for and from a buyers perspective it is unfair to have them waste time looking at a property which is advertised for a price and to then be expected to offer more than that.

Again thank you for your thoughts, I have mine and you have yours

Talk about being impatient! If this is your first time buying, good luck!

It’s a fast market and I have a full time job. I don’t have time to be messed around. I offered full asking, if there’s no other offers, accept. End of story.

[Deleted User] · 30 January 2022 at 4:19PM

youth_leader said:

This happened to me Deleted_User, I hope you have a successful outcome.

I was first to view on the Saturday morning, and rang to offer full asking when I left the property. The EA said the vendor had three more viewings booked in and wanted them to proceed, so I had an anxious wait over the weekend. The location and property for me was perfect, I day dreamed about how much over asking I'd have to pay to secure it!

On the Monday the EA rang me to say two other viewers had offered asking, one under - but they had phoned at 9 am to up their offer to full asking. The EA went on to say the vendor had chosen me (cash in the bank buyer), if I could offer over asking. As I was saving on stamp duty I offered that figure and it was accepted.

I’m glad it worked out for you! And appreciate your story, it’s nice to hear support!

Thanks

Mahsroh · 30 January 2022 at 4:33PM

A lot of people are offering above asking to secure properties at the moment in a fast moving market. There are no guarantees that asking price will be enough to secure the property.

flipper_72 · 30 January 2022 at 5:08PM

My dad is in the process of selling, First people to view placed an offer but he had 20 other viewings booked over the weekend so responded to say he would make a decision once all viewings had taken place. He ended up with 4 offers and didn’t choose the highest but the ftb who just happened to be the first to view. All offers were over asking.