Seem to be in a bidding war and DH is on a course

[penguinsnpandas]

Saw a property we all love. Been on market for around a year, a month ago they dropped price 5 percent. Put in an offer today at 10 percent under asking price and they had another offer arrive same time at 5 peecent under both nothing to sell. 5 percent under was max limit DH said. But what should I do. Headwise I think we are now at fair value, heart wise I love it. We have cash to increase. DH will forgive me but argh. I am leaving it to see if others raise their offer but my guess is they will. Any advice. Not too many alternatives.

[penguinsnpandas]

Phoned today and other offer was £5k higher than ours but both offers listed as pending not accepted. So put in an offer of full asking price and explained had been told it had gone to other offer - guy thought it hasn't but is checking - but putting our offer in anyway. They did say to us before it was full asking price to take off market so maybe they took other offer but kept on market. Though was on very late on Friday so other offer won't have spent anything even if they were told they had got it. Whether they will now raise to match we will see.

[another20]

Good for you ! Have you decided how far you will go? Would be good to have that number in your head as this might take off! Exciting

[penguinsnpandas]

Full asking price is our final bid which is what we now have in. Obviously the other people may well match and then may have priority as we were told before they are currently accepted.

Or they may say had accepted other offer and not taking ours but EA seemed very happy to take but other person my DH spoke to is the manager.

So still more chance we will lose than win but probably about 40-60 now. Odd we weren't told about offer going to £5k over ours before.

[SubtitlesOn]

I think EA aren't "allowed" to tell you the other offers value

Well, we have been told that before on a house in England that went into ££££ way over asking price in the end

We were sad at the time but since then, the road it is on has got so busy we are very glad we lost out on it

Good luck

[penguinsnpandas]

The EA there have been telling us the other offers including basic details of other buyers financial position but for some reason hadn't said about other offer being presumably raised 5k above ours.

[penguinsnpandas]

Just phoned for update. Our offer has been put to vendors with recommendation to accept and take house off market. Have phoned solicitor to get that sorted. Not sure if they gave other people chance to bid again, hope they did but appears not to have been taken off market.

[ajandjjmum]

Fingers crossed for your penguin. We paid well over the odds for our house, although it was not sensible at all at the time. 22 years later, it was a great investment. :)

(Everyone thought we were mad though!)

[penguinsnpandas]

Thanks, glad you loved your home. Still awaiting news. Not sure what delay is hopefully just BH.

[Pearlsofmadness]

Good luck with everything! I hate the waiting game but sometimes the sellers need time to consider/think things over. DH and I gave it an evening before we accepted the offer on ours just to weigh up the pros & cons & make sure we were both happy with the decision to accept. Hopefully they follow the EA’s recommendation, accept and you hear from them tomorrow

[sausagedogsmakechipolatas]

Fingers crossed for you Penguins!

[penguinsnpandas]

Thanks very much.

[penguinsnpandas]

Just phoned apparently still no decision made but only offer being considered, its a father and son decision.

[SubtitlesOn]

Do you mean it is only your offer being considered by the father and son?

[penguinsnpandas]

Yes its just our offer, all other offers been rejected. Ours is full asking price so I am concerned what the delay is - I suspect they may not be sure about selling. Just worried they will accept then pull out. Apparently EA has been talking to them a lot.

[another20]

Hope they don’t start looking for that other 5%!!

All good though - just sit tight. Sounds like they just want max price. Given their situation I doubt they would pull out once they had decided if the parent has moved into a home and the house is empty ? V exciting - how is the market in your area - if flat, subdued in decline would expect they wouldn’t change their minds.

[penguinsnpandas]

They have accepted offer and will take off market once we have e-mailed over proof of funds. Not sure what delay was but looks good.

[another20]

That’s brilliant news!!!! Well done

[ajandjjmum]

Fantastic - so pleased for you.

[3333hh44]

Fantastic news. You must be so pleased.

[sausagedogsmakechipolatas]

Excellent! Fingers crossed for a smooth transaction for you.

[SubtitlesOn]

Amazing news - hope it all goes through smoothly

Please let us know when you have completed

[Pearlsofmadness]

Great news!

[Ihearafanfare]

Ask to see proof of the offer. I believe it's illegal to make up fake offers.

[penguinsnpandas]

Thanks very much. Just sent over the proof of funds and solicitors details so now all we need is mortgage broker to confirm and copies of passports then should go off market.

[penguinsnpandas]

There was definitely another offer in the end at least, guy was reading off screen but exactly what happened who knows.