Sale fell through, reasonable to ask to lower accepted offer?

tsears

Sorry for the delay. I’m holding the estate agents off for now, I’ve got a few more viewings on my place, but not got much hope for improved offers. 

I’ll probably have to decide by Wednesday, but just not sure to play their bluff or not. 

tsears

I’m tempted to show them the chart, but have a feeling they know already. I think the sellers are the ones playing hard ball, estate agents probably wouldn’t want to go back on the market and have to complete viewings. 

I emailed the EA today as they asked for an update, informing them my mortgage advisor said it was looking tight on numbers (which is half true as would need £5k of savings) so said I was thinking it through and trying to negotiate with offers I currently have, so maybe that’ll make them worry and lower a little 

mi-key

tsears said:

I’m tempted to show them the chart, but have a feeling they know already. I think the sellers are the ones playing hard ball, estate agents probably wouldn’t want to go back on the market and have to complete viewings. 

I emailed the EA today as they asked for an update, informing them my mortgage advisor said it was looking tight on numbers (which is half true as would need £5k of savings) so said I was thinking it through and trying to negotiate with offers I currently have, so maybe that’ll make them worry and lower a little 

Esatate agents won't care if it goes back on the market. Doing viewings is their job. To be honest if the sellers haven't agreed to reduce by now, they aren't going to.

tsears

That's true. They phoned me today asking for an update, I had just decided to accept the offer for £166k to get it all moving and now they have pulled out... Only offer I have on the table is £163k which I don't think I can drop down to

Sarah1Mitty2

mi-key said:

tsears said:

I’m tempted to show them the chart, but have a feeling they know already. I think the sellers are the ones playing hard ball, estate agents probably wouldn’t want to go back on the market and have to complete viewings. 

I emailed the EA today as they asked for an update, informing them my mortgage advisor said it was looking tight on numbers (which is half true as would need £5k of savings) so said I was thinking it through and trying to negotiate with offers I currently have, so maybe that’ll make them worry and lower a little 

Esatate agents won't care if it goes back on the market. Doing viewings is their job. To be honest if the sellers haven't agreed to reduce by now, they aren't going to.

Not really, the changes to lending etc. have barely had time to register with people, if the OP steps back they will probably be reducing down the line in my opinion, but without a link it is all just internet noise anyway. The OP shouldn`t stretch themselves financially at this point is my advice.

mi-key

tsears said:

That's true. They phoned me today asking for an update, I had just decided to accept the offer for £166k to get it all moving and now they have pulled out... Only offer I have on the table is £163k which I don't think I can drop down to

Sorry to hear that. Really when selling you need to either accept or reject an offer as quickly as possible so buyers know where they stand. If you sit around waiting to see what comes in chances are they will be looking at other properties

Sarah1Mitty2

tsears said:

That's true. They phoned me today asking for an update, I had just decided to accept the offer for £166k to get it all moving and now they have pulled out... Only offer I have on the table is £163k which I don't think I can drop down to

You can`t drop by 3k? 

fackers_2

tsears said:

That's true. They phoned me today asking for an update, I had just decided to accept the offer for £166k to get it all moving and now they have pulled out... Only offer I have on the table is £163k which I don't think I can drop down to

Better that than lower offers coming around the corner. The longer you leave it the higher chance the offers are lower I’m afraid. 

People ask why a property is on the market for so long and they start to look for faults / reasons to offer under. 

Sarah1Mitty2

fackers_2 said:

tsears said:

That's true. They phoned me today asking for an update, I had just decided to accept the offer for £166k to get it all moving and now they have pulled out... Only offer I have on the table is £163k which I don't think I can drop down to

Better that than lower offers coming around the corner. The longer you leave it the higher chance the offers are lower I’m afraid. 

People ask why a property is on the market for so long and they start to look for faults / reasons to offer under. 

Exactly, and they already have loads of reasons to offer under, interest rates, cost of living etc. Grab the 163k offer before it is withdrawn in my opinion.

tsears

fackers_2 said:

tsears said:

That's true. They phoned me today asking for an update, I had just decided to accept the offer for £166k to get it all moving and now they have pulled out... Only offer I have on the table is £163k which I don't think I can drop down to

Better that than lower offers coming around the corner. The longer you leave it the higher chance the offers are lower I’m afraid. 

People ask why a property is on the market for so long and they start to look for faults / reasons to offer under. 

I think you could be right, as the longer its on the lower offers I'll get and I can't really afford to go much lower.