Would this situation make you catious about offering on a house?

[Mojitosinthesun]

Hi,

Have this running in Property too, but just thought I'd get a bit more traffic over in Chat 🤞

Happy New Year, first of all!

Seen a house we really like- within budget... just , but there are a couple of things which are making me question our offer.

Firstly, it's on with another agent and apparently they have an acceptable offer on the table, but they're not proceedble, so it was a bit hypothetical.

We went in 10k under their offer, as weare proceedable. Not heard anything back yet, but the EA said he didn't think it was enough, but that maybe they'd meet in the middle, given we are proceedable.

Anyway, my concern is that we'll have our offer accepted, but then the other people who offered with the other EA sell further down the line, as we're getting ready to exchange and then they take their offer instead, leaving us back to square one.

I know the nature of the beast is it could collapse at any point and often does, but am wondering how likely this is, given that if we did meet in the middle, it would only be 5k less than their offer.

My other concern is that the vendors haven't yet found anywhere and don't sound particularly proactive in their search. Our buyer is a chain free investor, so I suspect they're keen to get the ball rolling asap. They offered over a month ago now.

Also, is it normal to stay on with another EA once SSTC through another. The EA said they think us insisting it came off the market altogether is perfectly reasonable, but I often see houses on RM which are SSTC, but are still marketed with another EA. This seems ridiculous to me.

Thoughts?

Thanks @Treacletoots

@notangelinajoli, we wouldn't be interested in taking it further if that were the case.

Can people please send the positive vibes? 🙏

Any other thoughts?

So, rejected, as expected.

They clearly want us to match the other (not really an offer) offer, but that is our absolute ceiling and we didn't want to go to our top, as the mortgage lender will scrutinise our finances and I guess then there's more of a chance we won't get approved.

Aarghh what to do?!

Just keep looking and leave your offer on the table. It's not attractive for them at the moment, but who knows in the future. Good luck with the search, OP.

We increased slightly and they're sleeping on it apparently. We won't be increasing. I think the offer is fair.

Good luck OP! Reading this thread makes me wonder if the housing market is very different in different areas of the UK, because going below asking price is expected in all the places I've lived. EAs tell you to put your house on for 10k more than you actually want, and even attractive popular houses with no work to do never ever reach asking price.
You sound sensible OP. Hope you get what is right for you!

@KnickerBockerAndrew, I would say that's also true around here, but I think this other 'offer' has stuck as a goal.