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Original poster

Thinking about our offer

67 replies

Springforward · 19/08/2012 12:45

We made an offer on a house on Friday, then upped it, then upped it again. We are now about 8% under asking price. The vendor wants "a few days" to think about it.

Somebody please reassure me this is a good sign?

We are proceedable and there is no upward chain. Vendor is downsizing into retirement apartment.

I really want this one!!!

OP posts:
oreocrumbs · 21/08/2012 19:44

You can yes. I can't remember your position, are you sold and in rented?

But yes you can most definitly be in by Christmas, you just have to keep the pressure on to keep things moving once you get an offer accepted.

Someone on this board has said to a few people "What is meant for you won't pass you by", and it sticks in my mind - it is very true, and when you do get your house you will agree.

Original poster
Springforward · 21/08/2012 20:04

Thanks oreo, that helps. Yes, we're in rented.

I'm so fed up. We have lost so many houses, valuations, gazumping, mortgages/ structural problems/ surveys, vendors changing their minds about selling.... it must be our turn, surely!

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Original poster
Springforward · 22/08/2012 19:34

Well. I put an offer in on a plan B house this morning with another agent. Ten minutes later, the first agent called back to say that the other offer had been withdrawn, and we were next in line. Stalling for time, I said I'd have to speak to DH. Late in the afternoon the first agent called me to see if I'd spoken to DH yet, I said I hadn't but would email her with our position overnight. She then drops into the conversation an "enquiry" from another buyer, which shortly became "an offer". I told her that I would still have to speak to DH. She rang off sounding most dejected. (Then got the plan B offer rejected!)

We are going to re-make our last offer, I think. Are we being played by this agent, though?

OP posts:
mellen · 22/08/2012 19:49

You are being played, IMO. Id be tempted to drop your offer from the last one that you made, but that might be me being petty Grin

Original poster
Springforward · 22/08/2012 19:59

Yes, I was rather looking forward to telling her that we'd found somewhere else, thanks Grin but never mind, I guess we'll have to settle for having another go at the house we want....

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FatherReboolaConundrum · 22/08/2012 20:15

Another one who thinks you're being played. You have no way of knowing that any other offer exists, and if there really was one they'd have said so up front - presumably the 'enquiry' was upped to 'offer' because you weren't biting their hand off when they dangled the house at you. Like mellen, I'd revert to my previous offer, but then it's easy for me to say that because I'm not in your position. This is stating the obvious, but if the house is worth that price to you, and you can bear the extra cost, then stick with your higher offer and don't worry about whether the EA is tricking you. If not, then not - make a lower offer and see what they do. If finding out that you've been played is likely to sour the whole purchase and how you feel about the house, then you might be better off calling their bluff and take the risk of losing the house.

Original poster
Springforward · 22/08/2012 20:21

We're happy to reinstate our last offer, to be honest, so that's what we'll be doing.

Currently drafting the email!

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oreocrumbs · 22/08/2012 20:47

Well that's a turn up for the books! Grin

Yes they are playing you, but so long as the offer you made is a price you are comfortable with then who cares?

Its the price you already offered, so all is as should have been yesterday!

Hope all goes through smoothly from now on!

fivegomadindorset · 22/08/2012 20:53

There aren't any other offers, they want a price and playing you to get the price.

Original poster
Springforward · 22/08/2012 20:56

Thanks - will let you know if they accept it this time or not!!

Our offer is about 92.5% of asking price. The asking price, to be fair, does reflect the crap state it's in. Is this a reasonable offer, do you think?

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UnexpectedItemInShaggingArea · 22/08/2012 21:00

It really sounds like you are being played!

I would have a look round for another plan B just in case.

Good luck though.

fivegomadindorset · 22/08/2012 21:04

I would still email them with that is our offer and we are still looking.

Original poster
Springforward · 22/08/2012 21:08

I've drafted a message telling them what good buyers we are and that we would like an answer by close of business tomorrow. Same offer as was last rejected. Not sent yet, DH not home yet and I want him to see it before I send it.

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ANTagony · 22/08/2012 21:10

It does sound fair but if you have time to kill waiting for your DH's return have you looked at sold prices etc for same location to back up your case?

tawse57 · 22/08/2012 21:15

According to the Land Registry the average house in the UK sells for about 90% of asking price.

But, this is now a falling market. As I have written on here before I think paying 85% of the asking price is now sensible.

Obviously, if there are other buyers or the house is in a high demand area then you might end up in a competition. The thing to do with competitions to buy houses is not to enter them and to walk away - all you do is bid up the price for either yourself or someone else.

There may be no other buyer. There may be another buyer.

In a falling market with a glut of houses for sale - reportedly 3 houses for sales for every buyer - in an economy in recession it staggers me why people end up in bidding wars.

Original poster
Springforward · 22/08/2012 21:23

We have an unfailing ability to find the difficult transactions, believe me....

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Original poster
Springforward · 22/08/2012 21:26

Re: sold prices, I've looked on Zoopla and there's no recent sale of a similar house on that street, unfortunately.

OP posts:
tawse57 · 22/08/2012 21:31

Check nethouseprices.com instead of Zoopla. Check on Google Streetview that you have the correct street name.

tawse57 · 22/08/2012 21:32

According to various sources UK prices should now be back to around 2004/05 levels - the problem is that many sellers and EAs are still asking bubble asking prices.

Original poster
Springforward · 22/08/2012 21:39

Right. Have looked properly, for some reason Zoopla values and sold prices on the street just don't match at all. Confused

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mellen · 22/08/2012 21:55

That could be because Zoopla is rubbish. Given that you have established that the only people who are really bidding for this house is you, dont pay over the odds. They seem to be playing you, and an email from you trying to convince them that you are good buyers is probably going to encourage that.

oreocrumbs · 22/08/2012 21:59

Zoopla values and sold prices are NOT the same thing! Zoopla just make it up is some random calculation beyond normal reason.

You need to check actual sold prices. Rightmove have a sold price tab on the top of the home page, then put in the post code and go through the street. Cross check with google earth what each house is if you don't know from memory.

alabamawurley · 22/08/2012 22:17

"We raised our offer this afternoon. Ten minutes later they accepted a higher offer from another buyer."

I expect there are one or two EAs reading this with a a wry smile..

Agree with mellen - sending an email with your credentials can have it's uses at times..but this is not one of them.

Original poster
Springforward · 22/08/2012 22:19

Really? What would you suggest instead?

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fivegomadindorset · 22/08/2012 22:21

This is our final offer (the one you put in on Friday) and have you anything else for us to look at before we go elswwhere. The ball is entirely in your court.

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