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First Time Buyer - First Time Gazumper

(3 Posts)
Agithe Mon 03-Aug-09 09:44:54

As a FTB, I am totally new to the whole property buying process. Can anyone offer me an insight into vendor psychology.
Last week, we found our ideal house and placed an offer. The EA informed us that an offer had just been accepted two days previously. I immediately increased the offer by 3K and the EA said he would communicate that to the vendor. Since then, I have heard nothing. We are chain free with finance in place and would hope to complete within 6 weeks. Do I assume the vendor is not interested and is being honourable in sticking with first offer??

LIZS Mon 03-Aug-09 09:47:47

chase ea , they may be asking intital buyer to match your offer or maybe someone has been away delaying the feedback.

somewhathorrified Mon 03-Aug-09 10:07:38

Every vendor has different requirements (e.g.not all want to move quickly). Don't worry too much about the delay in communication, EA's are legal required to pass all offers and responses back and forth between all parties, a lack of response means they have not recieved one yet. It would be reasonable for you to contact EA and ask for a reason for the delay. One point...when it comes to money honour goes out of the window!

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