Offer submitted a week ago

dr_bogenbroom

Hi,

We submitted a final offer of 248k on a 250k house last week after coming out on top of a bidding war with 2 others. House only went on the market 4 weeks ago passed Friday. I was told last Fri the sellers would think about it and upon chasing the agent yesterday I was informed it’s a bit complicated because the sellers are separating and to give it a bit more time.

Now I wasn’t born yesterday, if they liked the deal I’d have heard back by now so they are likely still be holding out for a higher offer. 

I’ve seen another house with the same agent that ticks most boxes apart from the location, do you think it’s worth me putting interest in this to show I’m still looking elsewhere? I don’t want to be strung along. I’ve no reason to suspect the agent isn’t being truthful however from what I read online I’d be led to believe otherwise. I’m also not a believer in playing games so this doesn’t sit comfortable with me however I want to apply some gentle pressure. 

Any ideas or should I just chill and wait? 

propertyrental

 suspect you were born yesterday.

A week is not long when making a major financial decision, and potentially add into the mix possible health issues, trouble/stress at work, a death in the family..... any number of reasons for a decision to be delayed.

And yes, divorce/separation can easily lead to arguments over whether/when to sell and at what price.

But you could be right. Only on the market and 3 (good?) offers received, so quite possible they think a higher offer may be forthcoming if they wait.

Who knows? You'll never know.

But as your offer has not (as yet) been accepted I see no reason not to view other properties. You might find a similar/better property at a similar/lower price.

jonnydeppiwish!

Ignore the previous poster saying you were born yesterday.

Absolutely view the other property and tell the agent you’re withdrawing your
offer. That should kick in a response - if it doesn’t then that will make the decision for you, especially where there are two opposing parties as vendors as it will add another unwanted dynamic.

You are buying so have the upper hand when lots are struggling to sell.

MultiFuelBurner

This is what we would do.

Phone up the EA and ask for an update and whilst on the phone ask to view another of their properties.

See what their reaction is.

Jonboy_1984

If hey are separating it is quite possible at least one of them is not moving willingly and stalling things at every opportunity, either deliberately or simply because they haven’t got to terms mentally with having to sell and leave their home.

Thats before you get into how much they want from the property to fund their future needs….

CSI_Yorkshire

If you're getting itchy feet about waiting four days for an answer from a separating couple, I'm not sure you'll feel much better about how slow the rest of the process is.

View this other house, nothing stopping you.  Don't withdraw the offer unless you have decided to move on by offering somewhere else, or you might find they take someone else's.

Do remember though, being "the buyer" isn't some sort of superpower.

RelievedSheff

jonnydeppiwish! said:

Ignore the previous poster saying you were born yesterday.

Absolutely view the other property and tell the agent you’re withdrawing your
offer. That should kick in a response - if it doesn’t then that will make the decision for you, especially where there are two opposing parties as vendors as it will add another unwanted dynamic.

You are buying so have the upper hand when lots are struggling to sell.

Really?

It is going into a property transaction with that mindset that will only ever lead to disappointment!

Divorcing_Dad

jonnydeppiwish! said:

You are buying so have the upper hand when lots are struggling to sell.

The first sentence said they were in a bidding war!

caprikid1

"250k house last week after coming out on top of a bidding war with 2 others"

Who told you that ? The estate agent ? 

Why else would you up your bid if no one else is interested ? Lets create a bidding war....

Emily_Joy

If the couple is separating it might take them forever to agree on terms, price, exchange date, completion date, F&F form, etc. Assuming England, they might drag it until the exchange of contracts and then decide they don't want to sell after all. I would keep looking at other houses.

Postik

When I made an offer on a house, in excess of the asking price and higher than anyone else, I was a little peeved when the vendor took 3 days to decide. Yes it's a big financial decision but in my mind you decide how much you want for your house and either accept an offer or you don't.  You've offered £2k less - they could either say yes or they could come back and say they want £2k more, it's not exactly difficult.

As it happens the vendor who took 3 days to decide accepted my offer but months later never managed to find an onward purchase, so I gave up buying that house in the end and moved on.

I would phone for an update and I really don't see how it could hurt to look at the other property - it might kick them into action and what if you end up liking the other property more and feel the location is worth the compromise - stranger things have happened.