First offer rejected with no option to increase offer

YoungBlueEyes

EA's are a carp-shoot. The one I sold my house with was brilliant, the one selling this house was... not. He annoyed me so much that I literally had to say to him - if all you're gonna do is sigh and tut and check your watch you can do it outside. 

SavingPennies_2

ahfat41 said:

Is it possible making his offer subject to survey, contract and property removed from the market have put the seller off? We are just learning so as not to make the same mistakes. Thanks

Nothing wrong with this, but...these "demands" usually come alongside a better offer. I.e. I'm giving you a good price and so I want xyz in return. Since your son offered quite a bit less (granted we don't know the %) it may have out them off.

diystarter7

SavingPennies_2 said:

ahfat41 said:

Is it possible making his offer subject to survey, contract and property removed from the market have put the seller off? We are just learning so as not to make the same mistakes. Thanks

Nothing wrong with this, but...these "demands" usually come alongside a better offer. I.e. I'm giving you a good price and so I want xyz in return. Since your son offered quite a bit less (granted we don't know the %) it may have out them off.

Hi

The vast majority of offers are made via thrid party, namely an EA

If you are having a survey done or its part and parcel of the lenders survey, good practice IMHO is 'offer subject to survey ad contract.' This will set the ball rolling in the sellers minds there may be a problem or two and we may get a bit less,

The last few places we have bought, offers made 'subject to no survey, cash purchase and subject to contract, the property goes STC once we have employed a solicitor/conveyancer. Often the advertisement goes to STC the next day. This type of offer may attrac a seller even though you have offered a slight lower price or a lower price as the seller may not want to be messed around with chai and further price negotiations but there is nothing stopping the buyer or the seller from changing their minds b4 x-change of contracts

It's marring up the buyer, seller and what both parties are happy to accept, deal with and hopefully complete within agreed timescales.

About "removing a property from the market" is STC where an honest EA wo't allow any more viewesings but that cant guaranteed that the seller won't accept a different, often a higher offer but that rarely happens

There is no exact science and there is often a lot of luck involved but if oe keeps tabs on the EA/solictors and try to speed up things as much as possible and go for chain free property, things often end in completion within a reasoble time.

Thnaks

eidand

diystarter7 said:

Slinky said:

I wouldn't have done the 'remove from market' bit with an under-price offer until the vendor has cccepted the offer. It's slightly insulting to the vendor's intelligence. There's nothing wrong with asking for it to be removed after the vendor has said yes.

the buyer that has the money and no chain, a serious seller will accept. 
cash and ready to go buyers are kings 

I would advise any buyer to not listen to this, you're only shooting yourself in the foot.

First of all as a seller, no one cares where the money is coming from, cash or mortgage, it makes no difference. When I was selling I sent quite a few "jokers" packing including some cash ones who thought them having cash entitles them to pay a lot less. No, it doesn't, no one cares you have some cash and you're ready to go, you still need to meet my price.
I'd rather wait a few more months to get what I want.

As for the second one, buyers who come over thinking they are "kings", we had a few of them and sent them all packing without any discussion. I don't need trouble when selling is already a hard and long process.

The bottom line is this, as a seller, I make the rules and I vet the buyers not just on finances but also behaviour because I know I am going to get a lot of problems if I accept dealing with people like that. Respect and common sense go a long way.

Gavin83

ahfat41 said:

Is it possible making his offer subject to survey, contract and property removed from the market have put the seller off? We are just learning so as not to make the same mistakes. Thanks

It's pointless highlighting that the offer is subject to a survey as frankly all offers are subject to a survey anyway. It's not like they can stop you pulling out or re-negotiating if you don't make that statement.

Asking for the property to be removed from the market is an interesting one. Were I the seller the circumstances would dictate how I'd respond. If it had been sat on the market for a few months and this was the only offer I'd just agree. If it had only just gone on the market, had loads of interest and I had a bunch more viewings booked you'd better hope the offer is a damn good one....

Once I'd accepted an offer it would be removed from the market and I wouldn't accept offers from anyone else, even if it was higher.

diggingdude

Just contact EA give your best offer and ask it is passed along. Ignore the "cash is king" brigade. Ignore the "I won't sell to first time buyers" brigade. Remember tgis is a public forum and no one is vetted. Offer your price and then move on if not accepted