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ritc
Posts: 25 Forumite
We have made a second offer on a house we like on Monday. It is our best and final offer, and we have made this clear to the seller and their agent. The agent told us this evening that the seller has a few viewing booked with another agent and wants to see them through over the weekend. They would get back to us early next week.
We didn’t offer asking price, but we made a fair offer. It is a few k less than what their said they wanted in response to our first offer. The house has been on the market since early May. They changed agent three weeks ago, though we had been introduced to the property by their old EA.
What is the view here? I don’t want to be messed around and for my offer simply to be used by the seller to get a better one. Would you tell the seller that the offer is valid until the close of play on Friday and force them to make a decision? We am prepared to walk away if needed.
Or is it normal practice and we just sit back and wait to early next week?
How would you react as a seller if we insist on an answer before the weekend?
We didn’t offer asking price, but we made a fair offer. It is a few k less than what their said they wanted in response to our first offer. The house has been on the market since early May. They changed agent three weeks ago, though we had been introduced to the property by their old EA.
What is the view here? I don’t want to be messed around and for my offer simply to be used by the seller to get a better one. Would you tell the seller that the offer is valid until the close of play on Friday and force them to make a decision? We am prepared to walk away if needed.
Or is it normal practice and we just sit back and wait to early next week?
How would you react as a seller if we insist on an answer before the weekend?
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Comments
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If i was the seller and you had already been told i had 3 more viewings and i would let you know once they had taken place i would find it really rude of you to insist on a response before that date.
I wouldnt be pushed around by someone who is also very prepared to walk away.
Especially as you havent offered asking price.
Personally i think its unreasonable. However if your not overly bothered then just keep looking elsewhere and you will get your answer within the timescales you have been given
Seems they have communicated with you.0 -
We have made a second offer on a house we like on Monday. It is our best and final offer, and we have made this clear to the seller and their agent. The agent told us this evening that the seller has a few viewing booked with another agent and wants to see them through over the weekend. They would get back to us early next week.
OK that seems fair.
We didn’t offer asking price, but we made a fair offer.
Thats your POV.
It is a few k less than what their said they wanted in response to our first offer.
Vendors POV is you made an offer less than they said their minimum was.
The house has been on the market since early May. They changed agent three weeks ago, though we had been introduced to the property by their old EA.
What is the view here? I don’t want to be messed around and for my offer simply to be used by the seller to get a better one.
You dont really have any control over that unelss you offer what they said they'd accept.
Would you tell the seller that the offer is valid until the close of play on Friday and force them to make a decision? We am prepared to walk away if needed.
No because i think its clear you'll end up walking away.
Or is it normal practice and we just sit back and wait to early next week?
Its hard to see what the downside is. In effect you know they are likely to reject your offer anyway, as they already indicated it wasnt enough, if they get a better offer over the weekend they will likely take it, and if they dont, they might accept yours, which they cant if you walked.
How would you react as a seller if we insist on an answer before the weekend?
I'd think you would be a really annoying and argumentative buyer and I'd decline your [STRIKE]offer[/STRIKE] ultimatum.
I was going to say an ultimatum of say Friday week (21st) might be reasonable but I dont think that gains you much either, you can look around, maybe you dont find anything better and after a month they are willing to drop their price and accept and you've lost nothing. If you had a couple of houses you were choosing between that would be different. But you dont.
Dont forget you dont know their position, maybe they need an extended period of not selling with a new agent to convince them your price is fair. better they accept that than think you've backed them up against a wall and left them with no alternative and that leads to them bailing later on down the line.0 -
Thanks for the responses. It is good to get some perspective and I can now see that it is best to wait until early next week. We have got nothing to loose.
About not paying asking price: we are looking in a local market that has cooled off on the last 6 to 12 months with many properties being reduced. 18 months ago most properties would have gone to a bidding war and over asking price. Not all sellers have realised that the market has changed, though.0 -
Good luck let us know what happens.0
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I don't think any actions that you have described should be taken as being rude. If they want to wait for the other viewings to come in regardless, then it might be best not offering yet, as if they dont get offers from those viewings, your position will be stronger. If they do get offers, then you won't be in any worse position than you would have been had you already made an offer. just make sure you get an update from the agent about how the viewings went.0
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They accepted our offer today, so patience seems to have paid of. Many thanks for the advice!
The condition of our offer was and is that the property is taken off the market. It is complicated as the seller switches EA but we had been introduced by their first EA and never had contact with the second EA. The second EA probably has no interest in taking the property off the market. They would lose their chance to get the sale and the commission. I am inclined to wait with the next steps (survey, mortgage application) until can see on the web that the property is no longer marketed. As of this evening the listings at the second EA is still live. Any advice?
I sometimes think that no transaction works if you don’t trust the other party and I’m then inclined to give them the benefit of the doubt and wait another 48hrs. But I also don’t want to be taken for a ride and potentially end up out of pocket.0 -
There's another poster here where it's the seller complaining, there are two EAs and one won't take it off (the one that didn't sell it) . View here is its not because they want to sell it but because when they get enquiries they can say "sorry that's sold but we have another one just like it"0
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AnotherJoe wrote: »There's another poster here where it's the seller complaining, there are two EAs and one won't take it off (the one that didn't sell it) . View here is its not because they want to sell it but because when they get enquiries they can say "sorry that's sold but we have another one just like it"
If I was a potential buyer that would just serve to annoy me. If I see a house on Rightmove I'm interested in I'd always do online research of the area first before phoning the EA to book a viewing, time I've wasted if the house isn't even available.0 -
NaughtiusMaximus wrote: »If I was a potential buyer that would just serve to annoy me. If I see a house on Rightmove I'm interested in I'd always do online research of the area first before phoning the EA to book a viewing, time I've wasted if the house isn't even available.
When you call t( agent they'll say "oh sorry that literally went under offer this morning however we do have another one......." so you won't be too annoyed. With them.
Anyway, what's the emoticon for "EA doesn't give a stuff if you've wasted your time". Why do they send listings of 1 bed fiats to peopel looking for 4 bed houses and vice versa? That's wasting your time as well.0 -
AnotherJoe wrote: »When you call t( agent they'll say "oh sorry that literally went under offer this morning however we do have another one......." so you won't be too annoyed. With them.
Not at the time I phone but when I see it's still showing on Rightmove as available a week later I would be.AnotherJoe wrote: »Anyway, what's the emoticon for "EA doesn't give a stuff if you've wasted your time". Why do they send listings of 1 bed fiats to peopel looking for 4 bed houses and vice versa? That's wasting your time as well.
Completely agree, we had spam just like that from the EA handling the sale of one of the properties we viewed.0
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