We are selling a shared ownership house, someone has applied for it and the Housing Association has had all of her paperwork in since Monday, they haven't processed it yet and are taking their time. I have chased them and all I am getting is "we are very busy" and "you know our timescales". I complained to the Head Office and they forwarded it on to the people dealing with our sale so I am worried they are taking their time on purpose now. They know we have found a house and have made an offer but the vendor can't proceed with us until the Housing Association approve our buyer (or not, they may decide she can't afford it). The vendors estate agent has also been chasing the HA but they really don't seem to care.
Anyway, because we think there is a good chance we could loose the house we like (sellers are after a quick sale after their previous buyer pulled out at the last minute), we have been looking around still and are due to view one later today.
The one we are viewing today is more money but we could go to it if we really like it, it has another bedroom, a drive and garage and is in a nicer area from the first one. If we really like it then I would like to offer (subject to our buyer being approved but it is also for sale with an estate agent now so hoping for more action from them, as they assured us its an easy sale).
If we do like it, do we withdraw our offer from the first one (they haven't formally accepted but haven't rejected it either) then put an offer on the second or keep the offer on the first in case the second doesn't accept our offer? We wouldn't go to full asking price. Would be offering £9950 below and could up it another 2k but that would be our limit.
Are both houses being sold through the same estate agent? If not it would be worth making an offer. Has the house you are going to look at been on the market long, if not they may not take a lower offer.
The question really is whether to keep the offer in on House A if you also offer on House B?
I would say yes, until you have a firm acceptance of an offer from the vendors of House B.
We are not in London either (we are in the Midlands), and properties are selling overnight here too. I would not accept less than the full asking price after just one day, or a few days, on the market as a better offer probably will come along quite quickly at the moment. When we last sold a house, in 2012, it was a different market and we were thrilled to accept a reasonable (but not asking price) offer within a week. It really depends on what the market is like in your area and whether the vendors just want a quick sale or are happy to wait for the right price.
To be perfectly honest though, if this were me, I would not have even viewed any houses until I knew whether mine had an accepted Buyer or not.