Repo....... again

[smudgedlipstick]

I have posted before about a repossessed property that I wanted to purchase and got a lot of advice from guys here, so thought I would try here again. We put a few offers in which we're all rejected and as we couldn't offer anymore than we had we left it, a few weeks later, they accepted an offer abit higher than ours and are proceeding with that. We had a new mortgage calculation two weeks later and can now borrow quite a bit more than previous and want to put a higher offer on the property to outbid them but we are being put off by the estate agent as she reckons they are ten days away from completion. So from them agreeing the sale to completion is going to be about 4 weeks( not including Christmas in between) we have basically been told that there's no way we would be able to turn it around quick enough. There's nothing I can do now is there? 😢 we could have put our higher offer in the two weeks after their offer was accepted but the agent hd kept putting us off and not answering calls so we are weeks behind them now

Sorry I realise this makes very little sense reading it back 🙄

You could approach the vendor ( a bank perhaps?) direct. They are obliged to accept the "best" offer but if they are really so far down the process they may decide a short time frame overrides any additional money, especially if they have a cash buyer already, or exchange may have already happened.

Let it go.
Sorry

I think you should let this go. I'm sorry that you got messed around over the mortgage, but it would be really unfair on the buyer of this property to have their sale disrupted in the last 10 days.

There will be other houses! Onwards!

I think you should let it go.

If it were me I'd think it was too late they will have paid for surveys and everything - seems a mean thing to do

Also there's nothing to say that all you will do is push the price up for all involved.

Actually the estate agent wants to put you off because they only get paid on completion. They would rather complete earlier for a lower amount then later for a slightly larger amount. Because they have to do extra work.
The seller will want to get the maximin value and in fact is legally obliged to get the highest price, and the agent knows it.
They also know that they have to pass on any actual offer, but if they encourage you not to make an offer then they don't mention to t seller.
It's your choice, but basically ignore the estate agent and decide what you want to do. If you decide, then put the offer in writing. The estate agent will hate you but they are legally required to pass it on. Then the seller will set a timescale to complete which you have to stick to.

The estate agent is 100% trying to put me off putting a further offer in. Its difficult because all the time I wanted to put an offer in first, everyone was warning me that someone could outbid me at any point and pull it out from underneath me, because that is just what happens. But now it is me who wants to put in the higher offer it's me who is being unkind? We scrambled our finances and managed to up our mortgage amount and they swooped in, so it feels they have done the same to me anyway. The estate agent is saying that if we put an offer in they will just run it alongside the current offer and whoever completes first wins - she expects them to complete next week so we would never be able to compete.

If you know you cannot complete in time what is the point.

Although the agent does want to complete quickly this is not simply in his own interests - the vendor will want this tied up asap. A bird in the hand is worth two in the bush and I wouldn't backtrack on a purchaser 10 days from completion in the hope that someone who has a mortgage and had issues before might complete.

If your offer was significantly higher and if there really were not likely to be any delays then maybe - but that doesn't seem to be the case.