Buyers Etiquette

Maximus5

We put our house on the market in March and sold for over asking price in 4 days. 6 weeks later the buyers pulled out not being able to get a mortgage they could afford. 

Back on the market and we had an offer for asking price on Saturday, which we verbally accepted since then the estate agents have not been able to get in touch with that person, however they have apparently also made an offer on another property before they even viewed it. Anyone else had problems like this? We’re worried about loosing the house we’ve offered on now due to ours not being sold

[Deleted User]

That would definitely ring alarm bells for me. If it had just been the not being able to get in touch then I'd maybe say give them 48 hrs or remarket. But given the fact they have offered on another property before viewing then I think they sound like timewasters and not people I would trust to stick to things further down the line. I'd just be remarketing.

How long were you on the market second time around before your offer on Sat?

Stubod

..I guess given the current climate everybody is hedging their bets...not a lot you can do about it really...

canaldumidi

Maximus5 said:

.... the estate agents have not been able to get in touch with that person, however they have apparently also made an offer on another property before they even viewed it....

so keep marketing and see if you find another buyer, or this buyer comes back.

Maximus5

Deleted_User said:

That would definitely ring alarm bells for me. If it had just been the not being able to get in touch then I'd maybe say give them 48 hrs or remarket. But given the fact they have offered on another property before viewing then I think they sound like timewasters and not people I would trust to stick to things further down the line. I'd just be remarketing.

How long were you on the market second time around before your offer on Sat?

I’ve thought exactly the same to be honest, I’d be worrying about it going through with that person until we’d exchanged etc. The house was re marketed the previous Wednesday so only 3 days again but we’ve got no further viewings booked at the minute. 

It’s an ideal FTB house so I was hoping it might be an easy process…

bouicca21

During the London bubble it was put an offer in straight after viewing or someone else would.  This left canny buyers putting in multiple offers as a safety net - because the next house they viewed might be better/more suitable.

If the market is in a bubble - and getting offers so quickly suggests it is  - then I would keep it on the market until it is clear that the potential buyer is serious.

simon_or

OP, to me it sounds like your Estate Agent is making it too easy to put in a offer. The least they should be doing is getting ID documents, checking for a bank AIP, verifying deposit amount and confirming chain status.

Simply requiring the above will help reduce offers coming through that haven't been properly thought out.

Maximus5

It’s my first time selling and buying so maybe being a tad naive. We have kept the house up for now anyway. I think the feeling of being desperate to sell quickly now our now house is hanging in the balance just isn’t helping

thegentleway

Similar problems but from the other side. We can't get viewings for some properties as the estate agent are "up to capacity" and we're beeing outbid by people offering £100k over asking price.

Thrugelmir

Maximus5 said:

Back on the market and we had an offer for asking price on Saturday, which we verbally accepted since then the estate agents have not been able to get in touch with that person,

Remarket the property then. Serious buyers wouldn't go AWOL. 

Maximus5

simon_or said:

OP, to me it sounds like your Estate Agent is making it too easy to put in a offer. The least they should be doing is getting ID documents, checking for a bank AIP, verifying deposit amount and confirming chain status.

Simply requiring the above will help reduce offers coming through that haven't been properly thought out.

They did come back after Saturday with verifying deposit and AIP Check, since then gone quite. Fair enough if someone has changed there mind but decency would be to pick up the phone