How long should you wait after making an offer?

cherry76

Offer made on Monday. Flat in London, asking price in Nov was over 400k, sale fell through and came back on the market with guide price 425k. Made offer under 5% off asking price. Not heard from EA and do not wish to appear too keen. Can easily walk away. I assume he is arranging more viewings over the weekend before getting back to me. Shall I email for update? He should at least let me know if the offer has been rejected straight away and give me the chance to renegotiate. Previously an offer was accepted just over the 400k asking price. Thanks

eddddy

You're probably over thinking this - just phone the EA and ask what the seller's response was.

If you want to play a bit of a game, you can say that there's another place you're interested in - so you really need a quick reply on this one.

cymruchris

Depends who is selling it. If it’s a single owner - then you might expect a reply by now - but if for example it’s a probate property - it could take a week for a reply. It depends on how many parties have to agree or disagree to the offer. A quick call to say you’ve also found another property you’re interested in, and would like an update before you offer on that one, might hurry things along. 

Hoenir

Make a call. Speculation resolves nothing. 

Albermarle

 I assume he is arranging more viewings over the weekend before getting back to me

You can not assume anything.

propertyrental

You haven't been told your offer is rejected because... the seller has not rejected your offer!. Yes, maybe waiting for viewings over the weekend, or just mulling it over with friends/family.

I doubt chasing the agent will change anything. The seller will either reject, accept, negotiate, or 'wait and see' in their own good time.

Bigphil1474

EA's will usually let you know asap that an offer has been rejected, so the fact they haven't is a slight positive. Sellers might be taking their time considering, working out if they can afford to accept, maybe have other viewings booked in. We went to view a property where the lady selling it told us she'd had an offer but was waiting for us to view before deciding as we'd booked the viewing before she got the offer. It was nice of her to do that, I think it was about 4 days later. .

EssexHebridean

When we got the offer which we finally accepted on ours we also honoured viewings which were already booked before giving an answer on the offer. We just asked the agents to go back to our eventual buyer and explain that as people already have viewings booked, it seemed only fair to let them come as planned. On the flip side, we immediately cancelled another viewing that we had booked in after we had made - and had accepted - an offer on the place we wanted to buy.