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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?

OP posts:
Sunnyandsilly · 24/05/2024 13:29

senua · 24/05/2024 12:17

Because you're messing around. They'll go ahead and book viewings in over the weekend
Mum has just asked for a viewing and been refused. It sounds like they haven't got the staff.
It's up to OP what she does but she only has a short time to take advantage of the new information before the vendors make their decision on Tuesday (allegedly, according to the EA).

Honestly this is the worse advice you’re giving. Absolutely the worst. Either you’re clueless or you think it’s fun to egg her on to lose the house.

Sunnyandsilly · 24/05/2024 13:28

SherrieElmer · 24/05/2024 13:01

Ok, this has all the signs of timewasters who are not fully committed to the sale and have just put the house up for sale to "see what happens."
Yes, unfortunately, it is a common trend within the industry, as unnerving as it comes across.

No it doesn’t, give over, they were holding out for a short period to see if they got other offers, fairly normal if you don’t make the offer contingent on it coming off the market, give a time line and others interested.

cwoffeee · 24/05/2024 13:07

I'd be patient. Sounds likely you'll get it.

I had to wait for a week for my (asking price) offer to be accepted. It was bloody horrible and I was pretty pissed off.

But I got it, and I'm still thrilled.

The hassle made me wonder if the seller was going to be a pain in the arse, but she wasn't, and all went smoothly. Good luck, OP.

SherrieElmer · 24/05/2024 13:06

senua · 24/05/2024 11:49

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.

my mum has just messaged me to say she phoned the estate agent this morning and asked if she could book a viewing. They said to her that they are not holding any viewings at all now over the bank holiday weekend. And they told her that an offer had already been made that will very likely be accepted.
You have a short window of opportunity to say that you were rushed into offering full asking, now realise that you can't afford it and would like to revise your offer back down. With a deadline.

Honestly, an appalling idea.
It looks like a race to the bottom to find out who is more childish.

SherrieElmer · 24/05/2024 13:01

Ok, this has all the signs of timewasters who are not fully committed to the sale and have just put the house up for sale to "see what happens."
Yes, unfortunately, it is a common trend within the industry, as unnerving as it comes across.

justasking111 · 24/05/2024 12:57

senua · 24/05/2024 11:59

Because?

They'll take the hump.

Isthisreasonable · 24/05/2024 12:37

Don't rely on the EA passing on any messages. We asked for a viewing and didn't hear anything so we put a note through the door saying that we were very interested but the EA wasn't communicating with us. Turned out that the EA hadn't told them and was promoting a local developer's offer. Obviously the EA did a lot of business with the developer so it was in their interest to get the best deal for the developer. The owner showed us the house but unfortunately we lost out as the developer was able to complete quicker and the owner was desperate to sell.

senua · 24/05/2024 12:17

Because you're messing around. They'll go ahead and book viewings in over the weekend
Mum has just asked for a viewing and been refused. It sounds like they haven't got the staff.
It's up to OP what she does but she only has a short time to take advantage of the new information before the vendors make their decision on Tuesday (allegedly, according to the EA).

NigelHarmansNewWife · 24/05/2024 12:01

Because you're messing around. They'll go ahead and book viewings in over the weekend

senua · 24/05/2024 11:59

Sunnyandsilly · 24/05/2024 11:56

Don’t do this. Honestly,

Because?

Sunnyandsilly · 24/05/2024 11:56

senua · 24/05/2024 11:49

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.

my mum has just messaged me to say she phoned the estate agent this morning and asked if she could book a viewing. They said to her that they are not holding any viewings at all now over the bank holiday weekend. And they told her that an offer had already been made that will very likely be accepted.
You have a short window of opportunity to say that you were rushed into offering full asking, now realise that you can't afford it and would like to revise your offer back down. With a deadline.

Don’t do this. Honestly,

Sunnyandsilly · 24/05/2024 11:55

Ok hopefully it’s your offer that will be accepted. Next time just alway say accept or decline within 48 hours and on condition the house comes off the market.

senua · 24/05/2024 11:49

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.

my mum has just messaged me to say she phoned the estate agent this morning and asked if she could book a viewing. They said to her that they are not holding any viewings at all now over the bank holiday weekend. And they told her that an offer had already been made that will very likely be accepted.
You have a short window of opportunity to say that you were rushed into offering full asking, now realise that you can't afford it and would like to revise your offer back down. With a deadline.

Alphabet1spaghetti2 · 24/05/2024 11:40

@parkrun500club you would be reasonable to think probate sales should be quick. But there always seems to be that one person who wants to wait for more money - regardless of the fact that the empty property is still incurring monthly costs - insurance, maintenance, council tax etc. in our case it was sil wanting more money, thankfully we were able to over rule her and just get the sale through.

Canacama · 24/05/2024 11:35

We put an offer on our house on the back burner as the estate agent told us 2 viewings in the next couple of days were cash buyers. Our reasoning was we weren't too bothered if the first party rescinded it as it was a popular area and it was when the selling market was booming, so we knew we'd get at least the asking price without waiting too long. We ended up accepting one of the cash buyers.
We did feel a little bad as first offer was a young family and cash buyer was adding to their rental portfolio, but we had to go with what worked best financially and in line with our timescale for buying. No waiting for a mortgage to be arranged and being a landlord they were used to getting everything processed quickly and had their usual solicitor ready to go.

Twiglets1 · 24/05/2024 11:31

offerquery · 24/05/2024 10:16

This might sound a little bit naughty.
I actually had no idea she was going to do this,
But my mum has just messaged me to say she phoned the estate agent this morning and asked if she could book a viewing.

They said to her that they are not holding any viewings at all now over the bank holiday weekend. And they told her that an offer had already been made that will very likely be accepted.

Do you think that's a good thing that they've said it's likely to be accepted?
Or do you think that could be so that someone bumps up the offer?

That sounds promising for you that the EA was putting people off viewing and believes the vendors are very likely to accept your offer.

parkrun500club · 24/05/2024 11:21

Interesting that people think a probate sale lacks urgency - I would want to sell as quickly as possible to get rid of the responsibility of the house - and presumably people like to get their inheritance too.

Although I know when MIL died, my sister in law and my DH took that view - my brother in law was keener to wait for higher offers but SIL and DH persuaded him a bird in the hand was better.

Didimum · 24/05/2024 11:13

This is a cautionary tale not to bring emotions into house purchases. Though obviously I accept and understand it does carry emotions (and have been there myself!), I do think it's a good idea to continually remind yourself that at the end of the day it's a business transaction and that everyone is either trying to get the best deal for their purchase and the best price for their sale.

I don't think two months is terribly long to be on market, especially considering that mortgage rates were unexpectedly hiked again in May, and lowering asking price does often cause a flurry of new interest from buyers who were previously out of budget. When a vendor has already price dropped, I do not blame them for using an offer to encourage other potential buyers. I would do the same, as I'd want to achieve the very best outcome.

When we viewed our current house it has been on market for almost a full year and had price dropped a number of times – it was still receiving a flurry of viewings from the most recent price drop. We offered under, rejected, full asking, then they waited a few days as they then had another potential buyer offer full asking. They chose us after we wrote them a nice letter and we had cute baby twins. The other potential buyer was a single man. Go figure!

Superscientist · 24/05/2024 10:32

We viewed a house twice and then someone else made an offer. The estate agent then contacted us to say an offer had been made and if we were still interested we would have to make an offer then. We declined but maybe the other party has asked for a day or so.

When we sold our house we did two days of viewing and then allowed three days for those that viewed the property to put in an offer before deciding which offer to accept. We wanted to give all those that viewed the chance to make an offer but didn't want to disadvantage those that need a day or so to make a decision. We did best and final offers so no bidding wars. We had a list of preferred buyers too so it wasn't necessary about cost - we would have accepted slightly lower from polite punctual viewers over the family that turned up late and allowed their child to rummage through our clothes in our bedroom drawers and jump on the bed!

offerquery · 24/05/2024 10:23

@Elphame
I really hope so! I would really love it if they didn't make me wait until Tuesday, but I think I might just hold out until then, especially as I know they are not having any viewings this weekend. That does make me feel a little bit better

OP posts:
Elphame · 24/05/2024 10:21

That sounds promising for you.

Probate sales can be a nightmare - possibly one of the beneficiaries was holding out for more but has now been made to see sense by the others! It's very common.

offerquery · 24/05/2024 10:16

This might sound a little bit naughty.
I actually had no idea she was going to do this,
But my mum has just messaged me to say she phoned the estate agent this morning and asked if she could book a viewing.

They said to her that they are not holding any viewings at all now over the bank holiday weekend. And they told her that an offer had already been made that will very likely be accepted.

Do you think that's a good thing that they've said it's likely to be accepted?
Or do you think that could be so that someone bumps up the offer?

OP posts:
Twiglets1 · 24/05/2024 09:48

offerquery · 24/05/2024 09:31

@Twiglets1

I am bearing in mind the emotional aspect of it. When I viewed it the first time, everything had been left exactly as it was then the family member passed. The estate agent said the family had found it difficult to come to the house. Then I went back a few weeks later and it had been tidied up a little bit. The neighbour said they're keen to sell to buy they're own house. Their family member only lived in the house for 2 years before they died.

Thats sad.

It sounds to me like they actually are motivated to sell the house but maybe just want to delay accepting your offer slightly as they have another viewing(s) lined up over the weekend. The EA should contact you early next week with an update on whether they are accepting your offer or not.

I wouldn’t try playing games. But I would be firm that you don’t want to offer any more money.

offerquery · 24/05/2024 09:31

@Twiglets1

I am bearing in mind the emotional aspect of it. When I viewed it the first time, everything had been left exactly as it was then the family member passed. The estate agent said the family had found it difficult to come to the house. Then I went back a few weeks later and it had been tidied up a little bit. The neighbour said they're keen to sell to buy they're own house. Their family member only lived in the house for 2 years before they died.

OP posts:
Peanutbutterfan · 24/05/2024 09:18

I think as others have said it’s different when it’s an estate sale. It doesn’t sound like these vendors are in much of a rush- they know they’ve had a lot of viewings & are willing to hold out to see if they get a higher offer. It’s not like they are reliant on this sale for an onward purchase. That’s probably why they don’t seem that bothered or have that level of urgency.

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