Asking price offer

jenni_fer

It hasn't been a full working day since you offered and I'd have been shocked if they chose not to honour viewings already booked for the weekend.
Just because you were first to offer and offered asking doesn't mean that you are their best option OR that they have to accept regardless.

It's horribly stressful buying a house but you just need to have a bit of patience and keep your fingers crossed I'm afraid!

[Deleted User]

jenni_fer said:

It hasn't been a full working day since you offered and I'd have been shocked if they chose not to honour viewings already booked for the weekend.
Just because you were first to offer and offered asking doesn't mean that you are their best option OR that they have to accept regardless.

It's horribly stressful buying a house but you just need to have a bit of patience and keep your fingers crossed I'm afraid!

I do understand what you’re saying. All of the viewings as I understand took place the day I went. It seems estate agents are picking one day to go to one home with block viewings and you either take the time to go on that day or miss out ( unless of course it doesn’t sell) hence why I didn’t understand the hold up. 

The estate agent is also open 9-5 on a Saturday, so they have actually had a working day and a half. 

Thanks everyone for your input. Appreciate it 

lookstraightahead

Deleted_User said:

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  

Although I tend to dislike greedy vendors and getting people into squabbles with each other over greedy prices, you might not be as attractive to them as, say, a cash buyer. Are you having to take out a mortgage? Are you ready to move? Have they found somewhere to buy? What is their situation? Do you need a full survey? Do you have a house to sell? Do you have a high LTV?

lookstraightahead

Deleted_User said:

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. 

I agree mostly with your sentiment about being messed around.

but most people also have a full time job, and lots of other responsibilities too. 

Just chase tomorrow. 

I assure you, as soon as you start doing surveys etc, you will be the one doing the messing around, and they might have to wait on you while you fit everything in around your job.

jenni_fer

Just because the estate agent is open on a Saturday doesn't make it a working day for the sellers / the general definition

I do feel your pain, we also made an offer on Friday that we are awaiting feedback on.

Fingers crossed you get some positive feedback tomorrow.

Thrugelmir

Deleted_User said:

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. 

Tough. Little point in moaning as you'll simply come across someone that's going to be too much trouble to deal with. 

eidand

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 

Wow, relax. You made an offer on Friday, today is Sunday and some people actually have a life, you know?
Maybe they went on a weekend getaway or simply want to continue with the viewings they already have. Either way, their house, their prerogative to take as long as they deem necessary. 

You really need to chill a little bit and don't show the raging side to the vendors, because no one wants to deal with a buyer like that. For most of us this is the biggest sale / purchase we will make in our lives and it is stressful enough.

Wait a few days and you will hear something, no worries.

warby68

I wouldn't consider a vendor that just wanted to see through the first wave of viewings and then decide as greedy,or messing about, just sensible. Much better to have a choice of offers than just one for several reasons, plus it lines up possible further interest should their first choice fall through.

Much as you would like the market to work so that the first to offer asking is accepted straight away, it doesn't and really never has worked like that with residential property. Market forces at the time are more the driving force and in a hot market you would probably have to make your offer extra special and not just asking price to persuade someone to cancel viewings in the short term.

Hope you hear something positive tomorrow.

Flugelhorn

I would expect them to honour the viewings over the weekend, you have only offered the asking price - not gone above it, the vendors may well have been told buy the agent that they are likely to get more than the asking price and that is what they are holding out for 

Flick85

My mum put her 2nd property back on the market on Thursday which had previously been SSTC for 6 months for 20k less, but the buyer’s solicitor had been awful and she got fed up waiting (she’s also a conveyancing solicitor so doesn’t have much patience for slowness!) This was a no chain purchase, so should have been fairly trivial even though it was leasehold.

They had 2 viewings on Friday, and 1 full asking price offer was received later that afternoon claiming they’re a cash buyer. She asked the EA to go back and check for proof of cash. In the meantime, she had another 6 viewings booked in for Saturday afternoon. She hasn’t yet had an update from the EAs after those, but expects that some offers may follow on Monday. She’ll pick whoever is able to move fastest (ie a cash buyer who can prove it) as, quite frankly, she wants the cash sooner rather than later. That may be the 1st offer, it may not be,

I’m in the opposite position to my mum though…. I’m about to go on the market and will pick a buyer who is able to be patient as I find my new home. I will accept less than asking for someone who can work on my timeline - especially if they’ll exchange quickly with a long stop for completion so I can buy a new build. I have worked out that if someone wants to buy this place from me quickly, they will need to offer 15k over a 215k asking and have a LTV that means when the mortgage valuation comes they don’t try to negotiate. That’s my price for forcing me to break the chain and go into rented, because I’d have to move twice and renting in my location with pets is v tricky and expensive.

imv, with the market how it is right now, to expect a seller to accept the 1st asking price offer without waiting to see if other viewings lead to offers, is a bit short sighted. Because, for many selling, there is more to this game than cash.

When it comes to selling, money really isn’t everything. If you really want the house, be patient and present yourself in a way that makes you the best people to sell to. In the mean time, keep looking for other places.