House staying on market?

Delop78

Hi all. We have been looking for a property for a while now and recently lost out on one that went to sealed bids. It’s now been about a month and I can see that the property is still listed with the agent and in the portals, not as SSTC or Under Offer but just as normal.  Is that meaningful in anyway? We were wondering if it is worth testing again as we really liked it, but don’t know if EAs typically keep houses listed just for marketing purposes? Can’t imagine the buyer would be happy with that though. 

Thanks. 

p00hsticks

What do you have to lose by just giving the estate agent a quick ring ?

I wouldn't hold out much hope though , as even if the first sale fell through for any reason, the agent would surely be contacting those who also expressed an interest at the time to let them know it was back on the market ....

user1977

What's meaningful is the reaction of the EA when you call to ask about it.

badger09

p00hsticks said:

What do you have to lose by just giving the estate agent a quick ring ?

I wouldn't hold out much hope though , as even if the first sale fell through for any reason, the agent would surely be contacting those who also expressed an interest at the time to let them know it was back on the market ....

But OP DID express interest at the time - 'lost out on one that went to sealed bids'

Agree, there's nothing to lose by asking EA

newsgroupmonkey_

Sounds like it never met the expected price.

A chat with the EA would be in order - find out what the expectation is.

Delop78

Thanks all. We did offer over asking as well but apparently the winners came up with a crazy price. 

I did think the EA would get back to us if it fell through but we haven’t heard anything. Just thought it is weird to still be listed and not Under Offer etc. as if we were buyers we would want that showing asap!

Noneforit999

Delop78 said:

Thanks all. We did offer over asking as well but apparently the winners came up with a crazy price. 

I did think the EA would get back to us if it fell through but we haven’t heard anything. Just thought it is weird to still be listed and not Under Offer etc. as if we were buyers we would want that showing asap!

You may find the buyers were unable to obtain the required lending if they offered well over the guide/asking price. On the basis both parties have likely spent money on conveyancing at that point, they may be in a back and forth about how to get it over the line.

....or it could simply be the EA wants it listed on the website for a while to show how many houses they can get to SSTC status, some do this so they can brag about how many they are able to sell vs other EA in the area.
'We have 100 properties for sale, 90 at SSTC as you can see on the website which is a 90% sale rate. XxxxX other EA only has 40 out of their 100 SSTC' etc etc

Worth a quick call to the EA if you are still interested and proceedable as a buyer, if it does fall through the vendor might like to know the EA has another person (albeit with a smaller offer) who can jump in if needed. 

We accepted an offer on ours 3 weeks ago and it still shows SSTC on the EA website. The vendors haven't even had the valuation done yet and neither of us are in a chain so it aint moving quick!

p00hsticks

Noneforit999 said:

Delop78 said:

Thanks all. We did offer over asking as well but apparently the winners came up with a crazy price. 

I did think the EA would get back to us if it fell through but we haven’t heard anything. Just thought it is weird to still be listed and not Under Offer etc. as if we were buyers we would want that showing asap!

You may find the buyers were unable to obtain the required lending if they offered well over the guide/asking price. On the basis both parties have likely spent money on conveyancing at that point, they may be in a back and forth about how to get it over the line.

....or it could simply be the EA wants it listed on the website for a while to show how many houses they can get to SSTC status, some do this so they can brag about how many they are able to sell vs other EA in the area.
'We have 100 properties for sale, 90 at SSTC as you can see on the website which is a 90% sale rate. XxxxX other EA only has 40 out of their 100 SSTC' etc etc

Both of those explanations would work if the property was showing up as SSTC, but I think the OP's point is that it;s still showing up as FOR SALE, with no evidence that an offer has been made and accepted..

Delop78

p00hsticks said:

Noneforit999 said:

Delop78 said:

Thanks all. We did offer over asking as well but apparently the winners came up with a crazy price. 

I did think the EA would get back to us if it fell through but we haven’t heard anything. Just thought it is weird to still be listed and not Under Offer etc. as if we were buyers we would want that showing asap!

You may find the buyers were unable to obtain the required lending if they offered well over the guide/asking price. On the basis both parties have likely spent money on conveyancing at that point, they may be in a back and forth about how to get it over the line.

....or it could simply be the EA wants it listed on the website for a while to show how many houses they can get to SSTC status, some do this so they can brag about how many they are able to sell vs other EA in the area.
'We have 100 properties for sale, 90 at SSTC as you can see on the website which is a 90% sale rate. XxxxX other EA only has 40 out of their 100 SSTC' etc etc

Both of those explanations would work if the property was showing up as SSTC, but I think the OP's point is that it;s still showing up as FOR SALE, with no evidence that an offer has been made and accepted..

p00hsticks said:

Noneforit999 said:

Delop78 said:

Thanks all. We did offer over asking as well but apparently the winners came up with a crazy price. 

I did think the EA would get back to us if it fell through but we haven’t heard anything. Just thought it is weird to still be listed and not Under Offer etc. as if we were buyers we would want that showing asap!

You may find the buyers were unable to obtain the required lending if they offered well over the guide/asking price. On the basis both parties have likely spent money on conveyancing at that point, they may be in a back and forth about how to get it over the line.

....or it could simply be the EA wants it listed on the website for a while to show how many houses they can get to SSTC status, some do this so they can brag about how many they are able to sell vs other EA in the area.
'We have 100 properties for sale, 90 at SSTC as you can see on the website which is a 90% sale rate. XxxxX other EA only has 40 out of their 100 SSTC' etc etc

Both of those explanations would work if the property was showing up as SSTC, but I think the OP's point is that it;s still showing up as FOR SALE, with no evidence that an offer has been made and accepted..

Yep exactly! If it was SSTC I would never think anything is up but it’s still for sale

Thrugelmir

Delop78 said:

I did think the EA would get back to us if it fell through but we haven’t heard anything. 

Perhaps the vendors have revised their expectations now. 

TripleH

Ask, worst case is the Estate Agent says No.

Best case is your offer is accepted.

Interim is that another potentially appropriate property coming on the market is offered to you in advance as a proactive buyer.

Good luck.