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The problem with the ultimatum is if they want to take a bit of time you are out when you could still be in.
The more open ended OK that's out top price and keep looking.
If the place has been on for a while they should be in a position to accept quickly if this is new on the market they are being reasonable giving it a week or two to see if they have pitched it about the right level.
Then if it is pick the best offer on the table which might be you.0 -
I don't think its unreasonable to ask for a decision in 3 days, by not doing so the vendor is sending a clear signal that they are unhappy with your offer. Don't forget to insist that it is taken off the market if your offer is accepted.For every complex problem there is an answer that is clear, simple and wrong.0
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I would just leave my offer on the table for the time being,and continue looking for other properties.0
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Put yourself in the vendor's shoes: You've decided to sell your house, you've talked to agents, looked at the market, worked out what you think it's worth, and then you've put it on the market. If you then get three asking price offers (especially if they all came in very quickly after listing the property), you're going to think "Hang on, did we put this on too cheaply? Should we be expecting more for it?"
Alternatively, maybe it's been on the market for a bit longer, say 4 -6 weeks, when you suddenly get three offers all at once. You might need to spend some time to work out which of them is best. Do I go for the highest offer? Or for the buyers with no chain? Maybe the highest offer is from buyers with no chain, but they're starting off by making demands such as "you only have 3 days to make a decision"... Do I want to deal with a buyer who's putting me under pressure? What are the chances that they're going to pick on every tiny little detail from their structural survey? Or would I rather sell for slightly less to buyers who I think are reasonable and are more likely to actually complete...?
Personally, I'd say that if you want something from someone (whether it be a house or something else), demanding things of them isn't a good idea!0 -
Complete rubbish. You don't wake up one day and decide to sell your house, it's a long well thought out decision. You know exactly what figure you will accept and how quick you want to move.
OP
This is just the normal EA nonsense to up the price hence up their commission
I disagree. No one knows what you will get for a house until it is put on the market. The vendor is well within their right to wait for further, or increased offers, especially if it turns out the asking price was set a bit low.
Of course, OP is well within their right to put a time limit on their offer, or leave it on the table.
Regarding the estate agent wanting an increased commission, this is rarely the case. An extra £5000 or so gets them about £100 extra - not worth their time chasing everyone.0 -
davomcdave wrote: »It sounds to me like the vendor will have you gazumped at the first opportunity. I'd be wary and at least get a promise if your offer is accepted that that's that.
Equally the OP is sending the message they could be a demanding FTB that does not have a clue about how long somethings take.
rather than the being in rental being flexible they will be demanding completion date too match their rental notice.
The neutral act is leave the offer and see if they come back when they say they will.
We love the house and I'm tired of searching!
Taking the offer off the table helps how?0 -
So in 6 months you've only found 2 properties you really like ? In that context, a week isn't long.
If the house is new to market and offers are flowing in, can you really blame a vendor for taking a bit of time and for hoping for higher offers? Also if its sold faster than anticipated, they may want to look for something themselves and make sure their move is viable first.
I don't think asking for a reply in 3 days is necessarily unreasonable but nor do I think a week for a decision is unreasonable either.
Just try and stay calm and reasonable yourself - there are ALL kinds of people selling houses and you can't read too much into anything at such an early stage.
You're free to walk away of course, as are they
For what its worth, as a vendor (and I've sold 5 ) I'd personally find you off-putting, too demanding at an early stage.0 -
I personally think you are being unreasonable.
As the seller has received 3 offers, the seller will want to negotiate. The other possible buyers may be prepared to raise their offers.
This is not "being awkward". It is perfectly reasonable for the seller to try and get the best price for their property.
I personally think that imposing an arbitrary 3-day deadline makes it look like you are the one being awkward given how long the conveyancing process takes.0 -
I don't think the vendor is being unreasonable asking for a week to decide. You don't know what is going on in their lives. Also they might want time to really consider the offers they have got. They are quite within their rights to want to have some more viewings. They don't have to do what you want them to do.
If I was a vendor and I got an asking price offer on the basis that I had to decide in 3 days and then take the house off the market I would be inclined to see what else I would be offered. What you said reads to me as if you don't think the house is worth the asking price to you but you are prepared to offer it and the seller should be grateful to you for your generous gesture and show their gratitude to you by accepting your offer immediately and take the house off the market?
The asking price of a house is only a guide. A house is worth what someone will pay for it not the imaginary number that the estate agent values it at. It sounds as if this vendor feels that the price they have asked for is a bit on the low side and someone will be prepared to pay more for it. They have a right to find out if that is the case. They don't have to accept your offer. They don't have to decide in the time scale you have put in with your offer.
Now you have to decide. The seller is not going to fit into your timescale do you want to withdraw your offer? If not then they probably won't accept it because it is conditional on a timescale that they are not prepared to meet.0 -
Can't see why asking for time to decide is a big problem? You don't know the detail of the offers on the table at all, so if you want your offer to be considered why not let them have some time?
They may have a lower offer but cash buyer/someone that's move in dates are better or not on a chain etc, or they may have a higher offer that doesn't suit them as much.
Trying to force their hand might just rule you out completely0
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