Properties that say offers in excess of

Tabieth

Toscaboy said:

Sellers EA called today to say they have more offers and want to know how long my chain is.
My estate agent told me they should contact them. long story short, it all depends on my current chain 
The sellers now want another 24 hours to look at their best option.
I am very anxious and want this property; they won't tell me what the other offers are.
My sister lives next door, and her daughter is extremely ill. I want to be there for her, and I am so lonely on my own; my sisters family will be there for me.
What can I do? You are probably going to tell me to hang on in there, but if I offer another 5k in the morning am I being completely stupid? Thanks for listening 

They won’t tell you what the other offers are. The EA is working for the seller and they want to get the best price. You’ve already triggered a bidding war with yourself, you do need to just be patient now. You risk pushing the price up even further if you keep upping your price. 

If you want my advice. Make your best and final offer and emphasise what a good buyer. That’s it. And then you wait. You’ll either get it or you won’t. I do wish you luck but do take a step back and just wait. 

youth_leader

I agree with giving your best and final offer and if it goes to someone else, think that it was just not meant to be.

Some people do write a letter to the vendor c/o the EA, you could do this.  I remember lying in bed wondering if I should pay £10K more, £15K more - my thoughts were ridiculous.  I was trying to go home to Twickenham and didn't have the money, staying here seemed the best idea at the time.

As it turned out, I could have done with the additional money I gave her for the floor replacements which came to every penny I had from my house sale, £20K including storage, chemical toilet etc.  I did have a L3 survey but surveyors cannot lift carpets or move heavy furniture, and it was strategically placed.  

 The vendor of this place was a very bad person not to mention the floors being covered in mould, my beloved sheltie died with a fungus in his nose.  

mlz1413

Yes this house is the best location. 
Yes you have bid well over the start price.
No you cannot force a seller to choose you.

It sounds like you are highly likely to be the best offer, but you are clearly desperate and willing to be taken advantage of, so that is what is happening. 

I would take a deep breath and open your Rightmove  / Zoopla etc apps and see what else is on the market and at what price. 

House moving is stressful and you are already stressed so it's not a good combination. 
Just have another look around at what is for sale and make a plan B so you aren't crushed if this house doesn't have your name on it.

Herzlos

Toscaboy said:

Sellers EA called today to say they have more offers and want to know how long my chain is.
My estate agent told me they should contact them. long story short, it all depends on my current chain 
The sellers now want another 24 hours to look at their best option.
I am very anxious and want this property; they won't tell me what the other offers are.
My sister lives next door, and her daughter is extremely ill. I want to be there for her, and I am so lonely on my own; my sisters family will be there for me.
What can I do? You are probably going to tell me to hang on in there, but if I offer another 5k in the morning am I being completely stupid? Thanks for listening 

Offers sort of consist of 2 parts the buyer will consider. 

"How much" is the obvioius part, but "how long" can also be important, where a quicker purchase can be beneficial.

You mentioned your house is already sold STC, so assuming you're not in a huge chain you're in a good position there. 

The EA can't tell you what the other offers are, because that's unfair. They should be able to answer questions like "Is £x likely to be successful?" or "Is there a figure the seller is hoping for?" which may guide you. 

So what I'd do is make a final offer, for the max you want to pay, explain what your chain is like and that you won't need a mortgage. 

I'm unsure on the letter front, because I'm not sure many people pay attention to it and there's a risk that they'll take advantage rather than help you out. 

Good luck! And remember that if it doesn't work out, there will be other houses. Can you rent locally to your sister for a while to clear your chain?

UnsureAboutthis

Tabieth said:

Toscaboy said:

Sellers EA called today to say they have more offers and want to know how long my chain is.
My estate agent told me they should contact them. long story short, it all depends on my current chain 
The sellers now want another 24 hours to look at their best option.
I am very anxious and want this property; they won't tell me what the other offers are.
My sister lives next door, and her daughter is extremely ill. I want to be there for her, and I am so lonely on my own; my sisters family will be there for me.
What can I do? You are probably going to tell me to hang on in there, but if I offer another 5k in the morning am I being completely stupid? Thanks for listening 

They won’t tell you what the other offers are. The EA is working for the seller and they want to get the best price. You’ve already triggered a bidding war with yourself, you do need to just be patient now. You risk pushing the price up even further if you keep upping your price. 

If you want my advice. Make your best and final offer and emphasise what a good buyer. That’s it. And then you wait. You’ll either get it or you won’t. I do wish you luck but do take a step back and just wait. 

Many will give you a very, very good idea of what was rejected and the new offer you are making is below on what was accepted. We'd done that, asked etc and put in bids but this was on chain free property and we too were chain free, ie ready to go either via selling to someone with cash and chain free or already sold. The buyers often chose those with little or no chain and often prepared to accpet a little less at times from a chain free buyer for obvious reasons.

There is NO harm whatsoever is asking EA to give you an off-the-record hint of what offers have gone in and if those offers from anyone who is chain-free. It's worked for me and my family many times. The worse thing that can happen is they say "no," but I've yet to meet an EA who has said that to us.

EA is no ones friend in most cases and its in their interest, regardless of what they say to secure a QUICK sale and that is often via those who are chain-free or relatively small chain

sheramber

If it all depends on your chain then your offer is  obviously being considered.

More money won’t make your chain go any quicker.

What is the sellers position? Are they ready to move?

Toscaboy

The sellers have a house they want very much, and want to act quickly.
I found out this morning that my chain is small.
The lady buying mine has arranged a survey, the couple buying hers have nothing to sell and have their mortgage in place, they don't want a survey because the house is 3 years old, and they want a rapid move, as the lady is pregnant. So it's all swings and roundabouts, just hoping and praying.
I told the EA this morning that I would like to be kept abreast of any other offers so I can act accordingly.

Toscaboy

Not good news, my offer was declined earlier, the sellers decided to go with someone who wasn't in a chain, not the highest offer, so gutted xxxxxx

Herzlos

These things happen. At least if they are chain free if they pull out you'll find out quicker. 

Can you move in with sister rather than next door, in the mean time?

UnsureAboutthis

Toscaboy said:

Not good news, my offer was declined earlier, the sellers decided to go with someone who wasn't in a chain, not the highest offer, so gutted xxxxxx

Sorry to hear that. At times and it may not appear so ATM but it may be a cloud in a silver lining.

As I posted earlier, often, any sensible seller will go with a chain-free/cash, ready-to-go offer. 

Years ago, someone we know was in a chain and they lost out to chain-free people and the person I knew went back and insisted their offer a higher one by several thousand, was made and it was but was rejected.

A chain of any length has its risks and the bigger the chain the greater the risks.

As I said, something else may come along that is even better in the location you want to move to. Good luck.

Chain free is a big thing when buying and gives you power over others in many cases. However, selling up and then waiting for the right property  has many risks attached to this.