Best & final offers

C1996

nicknameless said:

C1996 said:

jcuurthht said:

I'm selling a vacated probate property. I don't have probate yet so I'm in no rush. I have best and final offers expiring today, at which point EA will not accept any further offers.

So far I have 3 at asking price, 1 at +1% and one at -1%. A mix of investors and normal buyers.

I don't really have a game plan yet. I'll probably go with a cash buyer who has offered asking (may increase offer today) as it'll be quicker.

I’m a FTB & a house I viewed went to BFO. The deadline was yesterday at 2pm. I received the dreaded call from the EA, I was one of 7 who made an offer. The EA said that the vendor didn’t go with the highest offer but when with someone who’s offer was ‘significantly’ higher than mine. I think they also made reference to the vendor not being interested in FTB’s. 

My assumption is that they may have went with a cash buyer for a quicker transaction. When I first started looking to buy pre covid I was always told by Mortgage Advisors that being a FTB with no chain is a really good position to be in. However as time goes on I feel like we’re being out bid by investors or cash buyers 😪

It's awful isn't it atm?  What area of the country are you looking in?

We're chain free but not FTB, approx. £120k in cash but need a mortgage for the remainder and can't even get an offer accepted way over asking.  

I’m from the East Midlands, I think any houses around £130k-£140k in a nice area go within a week due to the high demand. It’s very relentless and horrible for buyers at the moment. 

I’m also sorry to hear you’re not having the best of luck, hopefully you find something soon. 

What part of the country are you looking to buy in? @nicknameless

nicknameless

C1996 said:

nicknameless said:

C1996 said:

jcuurthht said:

I'm selling a vacated probate property. I don't have probate yet so I'm in no rush. I have best and final offers expiring today, at which point EA will not accept any further offers.

So far I have 3 at asking price, 1 at +1% and one at -1%. A mix of investors and normal buyers.

I don't really have a game plan yet. I'll probably go with a cash buyer who has offered asking (may increase offer today) as it'll be quicker.

I’m a FTB & a house I viewed went to BFO. The deadline was yesterday at 2pm. I received the dreaded call from the EA, I was one of 7 who made an offer. The EA said that the vendor didn’t go with the highest offer but when with someone who’s offer was ‘significantly’ higher than mine. I think they also made reference to the vendor not being interested in FTB’s. 

My assumption is that they may have went with a cash buyer for a quicker transaction. When I first started looking to buy pre covid I was always told by Mortgage Advisors that being a FTB with no chain is a really good position to be in. However as time goes on I feel like we’re being out bid by investors or cash buyers 😪

It's awful isn't it atm?  What area of the country are you looking in?

We're chain free but not FTB, approx. £120k in cash but need a mortgage for the remainder and can't even get an offer accepted way over asking.  

I’m from the East Midlands, I think any houses around £130k-£140k in a nice area go within a week due to the high demand. It’s very relentless and horrible for buyers at the moment. 

I’m also sorry to hear you’re not having the best of luck, hopefully you find something soon. 

What part of the country are you looking to buy in? @nicknameless

West Midlands - so that's the whole of the Midlands we have covered!!!!!