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  • FIRST POST
    • grussell
    • By grussell 12th Jan 18, 6:31 PM
    • 16Posts
    • 0Thanks
    grussell
    Advice on this bad house bidding experience...
    • #1
    • 12th Jan 18, 6:31 PM
    Advice on this bad house bidding experience... 12th Jan 18 at 6:31 PM
    House offer accepted.
    Last edited by grussell; 13-01-2018 at 5:40 PM.
Page 1
    • G_M
    • By G_M 12th Jan 18, 6:39 PM
    • 44,433 Posts
    • 52,745 Thanks
    G_M
    • #2
    • 12th Jan 18, 6:39 PM
    • #2
    • 12th Jan 18, 6:39 PM
    Buyers often take tiime to think. Why should they not - it's a big decision.

    Be patient.

    not much point the EA calling you till the vendor has decided howw to respond tto each offer you make. ("I've submitted your offer to the venor and he's thinking about it." - how does that help?).

    I'm not sure what your point is reeally.
    • eddddy
    • By eddddy 12th Jan 18, 6:45 PM
    • 6,488 Posts
    • 6,377 Thanks
    eddddy
    • #3
    • 12th Jan 18, 6:45 PM
    • #3
    • 12th Jan 18, 6:45 PM
    I think you might have to become a bit more resilient, if you're wanting to buy a property.

    What you're describing doesn't really sound like a big deal.
    • Cakeguts
    • By Cakeguts 12th Jan 18, 7:25 PM
    • 4,424 Posts
    • 6,358 Thanks
    Cakeguts
    • #4
    • 12th Jan 18, 7:25 PM
    • #4
    • 12th Jan 18, 7:25 PM
    You have got to remember that the vendor is likely to have other things in their life than selling their house.

    It is also possible that you were not the only person making an offer. They may have wanted to decide between several offers made.

    They have had an offer that they prefer to yours.

    Remember the EA is not working for you. They are taking instructions from the vendor. If the vendor hasn't updated the EA the EA can't update you.

    When making an offer on a house offer what it is worth to you. From the offers you made it looks as if you were not very keen on getting the house because you started so low. While you were making these multiple offers someone could have come along and made a much better offer.
    • societys child
    • By societys child 12th Jan 18, 7:31 PM
    • 5,222 Posts
    • 5,771 Thanks
    societys child
    • #5
    • 12th Jan 18, 7:31 PM
    • #5
    • 12th Jan 18, 7:31 PM
    You made a low offer, were told what they may accept but made two more offers below that . . .
    Do you believe they'll ever take you seriously now?

    • keithdc
    • By keithdc 12th Jan 18, 7:45 PM
    • 291 Posts
    • 542 Thanks
    keithdc
    • #6
    • 12th Jan 18, 7:45 PM
    • #6
    • 12th Jan 18, 7:45 PM
    Given that you keep offering more, they may be interested in how high you will actually go!!
    • juniordoc
    • By juniordoc 12th Jan 18, 7:57 PM
    • 364 Posts
    • 286 Thanks
    juniordoc
    • #7
    • 12th Jan 18, 7:57 PM
    • #7
    • 12th Jan 18, 7:57 PM
    I think your mistake was in offering so many times, it makes it look like your first offers weren't serious and suggests that you might have just kept increasing up to any price!
    In future I would make 2 offers max. Offer lower than your final offer once if you want to try for a lower price, but make your second offer your best and final one, and be prepared to walk away if the offer it rejected, safe in the knowledge that you would not have been happy to pay more for that property.
    • grussell
    • By grussell 12th Jan 18, 8:06 PM
    • 16 Posts
    • 0 Thanks
    grussell
    • #8
    • 12th Jan 18, 8:06 PM
    • #8
    • 12th Jan 18, 8:06 PM
    House offer accepted.
    Last edited by grussell; 13-01-2018 at 5:40 PM.
    • grussell
    • By grussell 12th Jan 18, 8:09 PM
    • 16 Posts
    • 0 Thanks
    grussell
    • #9
    • 12th Jan 18, 8:09 PM
    • #9
    • 12th Jan 18, 8:09 PM
    House offer accepted.
    Last edited by grussell; 13-01-2018 at 5:40 PM.
    • davidmcn
    • By davidmcn 12th Jan 18, 8:17 PM
    • 7,837 Posts
    • 8,019 Thanks
    davidmcn
    Is anyone not the slightest bit shocked at this?
    Originally posted by grussell
    No, it really is just you.

    Either the sellers have made a decision about your offer or they haven't. If they have made a decision, they'll let you know. I'm not sure what "explanation" you'd expect in the meantime, other than "they're having a think about it". Did you make any "courtesy phone calls" to the estate agents to ask how they were getting on? Or set any sort of deadline(s)?
    • grussell
    • By grussell 12th Jan 18, 8:23 PM
    • 16 Posts
    • 0 Thanks
    grussell
    House offer accepted.
    Last edited by grussell; 13-01-2018 at 5:40 PM.
    • davidmcn
    • By davidmcn 12th Jan 18, 8:40 PM
    • 7,837 Posts
    • 8,019 Thanks
    davidmcn
    Yes. Countless. I had to chase them many times.
    Originally posted by grussell
    Well, if they were talking to you countless times maybe they didn't feel the need to have additional conversations with you if there was nothing further to tell you.
    • grussell
    • By grussell 12th Jan 18, 8:42 PM
    • 16 Posts
    • 0 Thanks
    grussell
    House offer accepted.
    Last edited by grussell; 13-01-2018 at 5:40 PM.
    • Slithery
    • By Slithery 12th Jan 18, 8:50 PM
    • 723 Posts
    • 1,131 Thanks
    Slithery
    davidmcn isn't being immature, he's giving accurate advice.

    For any further properties you want to offer on, follow the advice in post #7.
    • davidmcn
    • By davidmcn 12th Jan 18, 8:53 PM
    • 7,837 Posts
    • 8,019 Thanks
    davidmcn
    Iím not going to entertain your immaturity.
    Originally posted by grussell
    Not being immature in the slightest.

    What frequency of phone calls were you making during this 4 day period for them to become "countless"? If someone is calling you frequently and you've got nothing new to tell them, what on earth is the point of wasting even more of your time by calling you back to tell you that nothing has changed? After all, while they're doing that they could be missing the call from their client - or just unable to do something more productive with their time.
    • Aylesbury Duck
    • By Aylesbury Duck 12th Jan 18, 8:59 PM
    • 2,000 Posts
    • 2,636 Thanks
    Aylesbury Duck
    I think what youíve experienced is fairly normal. Yes there are agreements struck much more simply than youíve experienced but there are also many, many protracted, sometimes contrary negotiations that lead nowhere. Itís a normal part of house-hunting Iím afraid.

    If this is the first house youíve liked and bid on, Iíd suggest some changes to your approach to the next one. Firstly, donít make yourself look desperate by continually ramping up your offers. Your timeline doesnít show how long you left it between upping your offer each time but if it was fairly soon after each rejection, the vendor would simply think ďthis personís taking the mickeyĒ or perhaps ďtheyíre clearly keen so Iíll keep knocking them back assuming theyíll keep increasing their offer.Ē If I was the vendor Iíd think both and when you stop offering, Iíd leave it a while and perhaps go back and ask if your last offer still stood (assuming it was acceptable to me). Secondly, donít make so many offers, for similar reasons.

    You said it was already reduced, probably in response to limited or no offers the first time, so your even lower offer was rejected even though you think it reflects the real value. Do you think they should give you a double reduction?

    Finally, you will have to accept that if itís a house youíre really set on, you have to work to the vendorís timetable or walk away. Their EA is working for them and has no obligation to do anything other than act in their interests.
    • grussell
    • By grussell 12th Jan 18, 9:06 PM
    • 16 Posts
    • 0 Thanks
    grussell
    House offer accepted.
    Last edited by grussell; 13-01-2018 at 5:41 PM.
    • mije1983
    • By mije1983 12th Jan 18, 9:09 PM
    • 3,182 Posts
    • 19,094 Thanks
    mije1983
    Definitely not going to defend my emotions after having four offers rejected. I am human, after all. I really felt like this was the !!!8220;one!!!8221;.
    Originally posted by grussell
    Ideally, however hard it is, you need to try and keep your emotions in check otherwise buying your first property is going to be more of a nightmare for you than it normally is. It might feel like 'the one' now, but there will be another 'one' around the corner.


    I do think that to wait four days for a vendor to reply to an offer without as much as a courtesy phone call to explain the delay lacks some professional etiquette.
    Originally posted by grussell
    The vendors will probably have other things to deal with as well as selling their house. Don't take it personally.


    Not only that but after matching the vendors request, my offer was further declined. Is anyone not the slightest bit shocked at this?
    Originally posted by grussell
    Not shocked at all. It took you an additional 3 offers to get where they told you they wanted to be after the first offer. They had more or less said they'd meet you in the middle but you still didn't really get close with your next offer.

    Maybe they were waiting for someone else to make an acceptable offer who they thought would be easier to deal with, and when that happened your offer was rejected. Or in the time it took you to get to their requested price, someone had gone above 162.

    The vendors may have thought you were a time waster, or that you would keep going up and up with your offers.

    Anyway, buying a house is a learning curve, and this will only help you when you find another one you like. Good luck.

    • mr_munchem
    • By mr_munchem 12th Jan 18, 9:11 PM
    • 95 Posts
    • 33 Thanks
    mr_munchem
    I've just had an offer accepted on a house, and I'm an FTB.
    I made three offers, one of which I knew would be rejected, one which I thought might be accepted, and the accepted one.
    First offer I made, waited and it was rejected. Second one, I made a large increase to show that I was serious about the property. Third one, I made a much smaller increase, but when the agent rang to say the 2nd offer was rejected, I asked for some time and then went back and made it clear that was the final offer, else I was walking away.
    Make sure you've set your 'walk away' price before you enter negotiations.
    Good luck!
    • grussell
    • By grussell 12th Jan 18, 9:12 PM
    • 16 Posts
    • 0 Thanks
    grussell
    House offer accepted.
    Last edited by grussell; 13-01-2018 at 5:41 PM.
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