Waiting on offer acceptance thread!!

GentleGiant01

Waiting on an offer acceptance - absolutely agonising! 

What’s the longest you’ve ever waited? Have you got any horror stories? 

propertyhunter

For one house it was 2 weeks - because they wanted to 'discuss' with relatives. I don't know why 2 weeks is ever needed, but there you go. The whole scenario is nerve wracking. The range of emotions - the hope, the excitement, and more often than not the disappointment. Hoping never to repeat it for at least 20 years. 

Giggidy

Put an offer in via Purplebricks online system 2 weeks ago, which was rejected the next day. Upped it to another £10k two days later, the vendor has read the message but hasn't responded. Slightly increased it again a few days ago closer to the vendors' counter offer, via text message to the estate agent who showed us around and also messaged the vendor. Again no response from either. Purplebricks' whole system is infuriating, this is the second time we have had to deal with them, first time we lost out on a property that eventually sold 9 months after our offer was rejected, for £3k over. If we weren't so desperate to find somewhere and there was more housing stock on offer we would just avoid their properties altogether

TXC

longest was two weeks via PB, submitted initial offer day of viewing and I don't even think it was looked at because within 15 mins I got an email from the "negotiator" saying it would be a best and final situation and to resubmit my offer within two weeks. 
Upped offer and waited two weeks - got knocked back, so upped it again via portal and won (fell through at a later date but never mind). Turns out there's nothing final about best and final on PB!

julicorn

Gosh I've just been through that roller coaster. 

First property we offered on went to someone who offered every so slightly lower than us who was chain free. We were absolutely heartbroken, but at least found out quickly (offered Monday morning, found out around 4pm Tuesday). 

Second house we offered on: Viewing Saturday, they asked for offers in writing by 5pm Tuesday. We offered £25k over the asking price, then heard back Wednesday that there were 7 offers on the table, and it's best and final offers by 9am Thursday. We increased our offer to £76k over asking, and they ended up going with someone who offered £1k lower but was chain free. 

We then viewed two properties last Saturday that we both really liked, so decided to put in an offer on both this Monday. One was a house, the other a flat (we preferred the flat). For the house, we offered middle of the guide price, and actually got our offer accepted Tuesday mid-day. For the flat, we initially submitted on offer of £40k over asking. They got 5 offers, so asked for best and final offers by Tuesday mid-day. We upped our offer to £75k over asking. It turns out that in the end, there was one other person offering slightly more than us, and one who offered £1k less and was chain free, but the vendor ended up going with us because we already live nearby and love the community  

GentleGiant01

Sooo what I’m learning is avoid PurpleBricks! :0 my current offer is in with a vendor, with PurpleBricks! 

Buckling up for a long ride 

TXC

GentleGiant01 said:

Sooo what I’m learning is avoid PurpleBricks! :0 my current offer is in with a vendor, with PurpleBricks! 

Buckling up for a long ride 

I'm buying with them atm, tbh they're ok..if you don't mind never speaking to the EA again from offer acceptance and negotiation everything with the vendor direct yourself. My vendor is a great guy so far so I've touched lucky

propertyhunter

@julicorn I'm assuming these are offers over asking for multi-million pound properties! Otherwise, I hope you're my next door neighbour because I'm going to need someone like you to prop up my house price. 

julicorn

propertyhunter said:

@julicorn I'm assuming these are offers over asking for multi-million pound properties! Otherwise, I hope you're my next door neighbour because I'm going to need someone like you to prop up my house price. 

Nope, asking price for the one we got as 'offers over £450k', and we got it for £525k. And as you can see, ours wasn't even the highest offer. 

propertyhunter

That is remarkable. I didn't understand how prolific the market was in some areas - admittedly I went 3% over asking, but 17% makes your jaw drop. 

julicorn

propertyhunter said:

That is remarkable. I didn't understand how prolific the market was in some areas - admittedly I went 3% over asking, but 17% makes your jaw drop. 

Granted, both of those properties were priced quite keenly. The flat we bought could have easily been listed for £500k and still attracted lots of interest. But yes, it's the wild west around here at the moment.