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AIBU?

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Is this normal when making an offer on House?

265 replies

offerquery · 23/05/2024 19:02

I've seen house to buy. It's been on the market for around two months or so. It's already been reduced in price online.

When it was reduced, I made an offer slightly under the asking price. After a couple of days they said they want full asking price.
So I immediately offered the full asking price.

Anyway, I haven't heard anything so I've just called the estate agents and they said the family want to think about it. So they will get back to me on Tuesday.

I was really confused about this because I've offered the full asking price so I'm not sure what there is to think about?

She said they feel somebody else might be interested in the property. I asked a couple of questions about this… It turns out the person who is "interested " hasn't sold their house and hasn't said they want to make an offer. They've simply said they like the house. But have not indicated at all that they are looking to make an offer.

I have a feeling I know who this is because when I was viewing the house for the second time, a woman was there and I heard her say that she likes the house and that was it. So I'm not sure if that's the person

I just don't understand. I'm not sure if they're trying to get more than the asking price from me. Or if they're just waiting to see if they get any other offers over the next few days?

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Daisys24 · 12/06/2024 05:52

Oh I bet that’s a relief. Hopefully it all goes well 💐

viques · 11/06/2024 17:11

I hope this is your first offer, and not the revised “ we want you to pay our fees and expenses “ expectation. Good luck anyway. They sound like idiots , I hope they have finished messing you about.

Silvers11 · 11/06/2024 12:51

That's good news @offerquery Hope it all goes smoothly now

SmileyHappyPeopleInTheSun · 11/06/2024 11:01

Congratulations - but have a plan B - storage options short term lets just in case another house/rental- so if it does drag out so you don't lose your buyers - fingers crossed they've got it out their systems and they get on with the process now.

FredsRoses · 11/06/2024 09:53

Glad to hear that your offer has been accepted, and hope that all goes through smoothly.

Twiglets1 · 11/06/2024 09:33

Congratulations @offerquery on getting your offer accepted & hope things progress smoothly now

mumgodloveher · 11/06/2024 09:00

Good luck. Hope it all goes through.

offerquery · 11/06/2024 08:58

My offer on the second house was rejected. They said the house had already sold but it hadn't updated online.

My offer on the first little house has now finally been accepted. Really hoping there are no problems with this. It was only accepted yesterday!

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mumgodloveher · 08/06/2024 14:33

But I still think you'd be wise to walk away from these vendors. They've got trouble written all over them!

mumgodloveher · 08/06/2024 14:33

@offerquery Don't apologise for being naive. If you haven't been through this before, it's very sensible to ask. Once you've appointed a solicitor, the agent will send them a memorandum of sale with details of the address, names, agreed price etc. Your solicitor will apply for searches on the property and send them to you. Vendors will fill out the fixtures and fittings form and the property questionnaire. Make sure you look through the answers with a fine tooth comb and raise any queries you have with your solicitor. So there may be a couple of back and forth over queries. If your solicitor is good they should also be flagging any obvious questions. You also book a survey and, if any concerns arise, that's when you may want to either ask more questions, apply for more specialist surveys eg damp or drains and, if something worrying pops up, potentially renegotiate the price.

Calamitousness · 08/06/2024 14:18

@offerquery in that case they are unreliable at best. Greedy and in no rush at worst. Walk away. Tell them you’re out.

ThugCatAdmirer · 08/06/2024 13:58

My completion date on my house has been extended by 4 weeks which has given me a little more time.

Apologies, I meant to quote this, Where exactly are you up to with your own sale and what is the position with your own buyers? You need to consider this (and the whole chain) as it's hugely relevant to your potential vendors.

The huge disparity in your affordability between the two houses is also very odd. What exactly is your AIP?

ThugCatAdmirer · 08/06/2024 13:54

You sound very naive about the process considering you're already an owner?

Apologies if I have missed it - but have you actually exchanged on your own house, as it seems you are still living it in your own house but say you can move ASAP? And if so, what is the situation with your own buyer? This all seems focused on your onward purchase but there is very little info on your own precise circumstances, and your proceedability (is that a word?) is hugely relevant to your future vendors.

offerquery · 08/06/2024 13:10

@SmileyHappyPeopleInTheSun

Thank you for this. I will have a look at it.

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offerquery · 08/06/2024 13:09

@Calamitousness
They had it down as offers over… But when I initially spoke to the agent, they gave me the bang on amount they wanted so I agreed that straight away. And now 17 days later, they've said they want £3000 more. But they did put in the email the exact amount which I then offered. And now they've increased it to £3000 more than what they asked me for over email.

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SmileyHappyPeopleInTheSun · 08/06/2024 13:08

https://www.ommlaw.co.uk/conveyancing/conveyancing-process-for-buying-or-selling/

Goes through the steps in English/Welsh system - no idea why it tales so long one of our estate agents said it used to be quicker but seems to have lengthen over his career even without long chains.

Conveyancing Process Step-by-Step Timeline - OM&M Solicitors

We have prepared a step-by-step timeline to help explain the Conveyancing process in the UK, for a typical property sale and purchase.

https://www.ommlaw.co.uk/conveyancing/conveyancing-process-for-buying-or-selling

Calamitousness · 08/06/2024 13:02

Yes, English aren’t used to O/O as much as Scotland.
O/O is a staring point. Eg. When I have sold in Scotland I have had O/O of 20% for my last house = >£60k and for a one bedroom flat I once got 60% over offer > 80k.
what determines the offer is how many people are also bidding and what the market value for the area currently is.
the EA should guide you. But to me, yes O/O is always a %age over. Not asking value.
I now live in England so I’ve dealt with both systems. English is terrible.
If this hadn’t been an O/O I would have suggested legal proceeding against them since you would have offered asking value and they have incurred you wasted costs and time and emotional distress etc. but since you haven’t offered as they have asked then you can’t do that.

offerquery · 08/06/2024 13:01

@Scarletttulips
Okay, thank you. I'm just googling it now. They have been really difficult so far. I will see what they come back with today. Or I might be waiting another 17 days, but I have told them I'm only willing to wait until Monday.

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Scarletttulips · 08/06/2024 13:00

Surveyor will indicate any issues, you can arrange for a builder or whatever to get a quote for the likely cost of repairs - you then negotiate price

The may say ‘new boiler’ needed working the next 12 months to roof needs urgert attention - or damp in the cellar

offerquery · 08/06/2024 12:56

@mumgodloveher
This might sound naive, but what is it that usually happens during the conveyancing process? When I bought my last house, it was my ex who dealt with everything so I don't actually know what the process was like.

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mumgodloveher · 08/06/2024 12:40

I agree with everyone else. If this is their behaviour now, can you imagine how they will behave through the conveyancing procedure? They obviously aren't in a rush to sell either so have no incentive to be 'good' vendors. For your own sanity, I'd walk away.

SmileyHappyPeopleInTheSun · 08/06/2024 11:04

Nothing about this is normal - I agree with MasterOfCake they'd not drop for anything found on survey and as I said previously likely delay on slightest thing and likely want to leave everything rather than clear house and try and charge you for the privilege.

If they wanted a higher offer I think they could have got back to you quickly and indicated that - that what our seller at our current house did though we were under their selling price - and the house hadn't been on very long at that point - so we were fine to up the offer.

If you don't like the other house you have offered on they do a lot of looking very quickly as the extra time you now have will soon go - our first house buy took 9 weeks seller was going into rented and we were first time buyers - no chain at all.

You have a seller waiting 17 days to reject an offer they are in no rush to sell - and their reasons shouldn't matter to you.

Twiglets1 · 08/06/2024 11:01

offerquery · 08/06/2024 10:42

@Twiglets1

I've asked them, why it has taken them 17 days. And it is due to their personal circumstances and an anniversary of a death.

They said it is on at 'offers over'. I put the full asking price. Which is less than what it was bought for a couple of years ago by another family member of theirs.

So is it normal then When it says 'offers over' that you would automatically offer more than the number stated online?

@offerquery offers over indicates that a sellers hopes to achieve at least the stated price.

In a buoyant market people will often offer over that amount as they anticipate a lot of interest in the property.

In the stagnant market we have now, people will be more likely to offer the exact amount, or slightly less. I think you did the right thing in offering the “offers from” amount. They should have accepted it as it was the best proceedable offer they got.

I expect their EA will be privately advising them to accept your offer though they won’t admit that to you.

MasterOfCake · 08/06/2024 10:54

They’re CF. They know you want the house so think they can push their luck and get more money out of you.

If any issues come up during the survey, I doubt they’ll consider any reduction.

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