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Original poster

Waiting to hear if offer accepted

27 replies

Fleabagster · 17/08/2020 11:25

We viewed a house on Saturday at 9.40am, put in full asking price offer at 11am. We are in good position, no chain etc. I know you can’t answer this but it’s driving me crazy waiting to hear! There were 4 more viewings after us on Saturday so maybe they’re waiting to hear from all of them? Why the delay?! It’s not even the house of our dreams, but a very sensible and good option which is suit us well, but I’m already a nervous wreck about it.

OP posts:
Dejayou · 17/08/2020 12:13

Wishing you luck. It’s a horrible feeling but hopefully it will be over soon. Daffodil

Original poster
Fleabagster · 17/08/2020 12:37

Thank you @Dejayou. Still nothing!

OP posts:
SillyCow6 · 17/08/2020 12:39

Oh it is a horrible feeling. We went through this very recently! Hopefully you'll hear in a day or two

SillyCow6 · 17/08/2020 12:40

If you're the first offer they've had and it's full asking price then they'll probably be thinking they could get more if they hold out a bit. I always go under asking price, depending on any other offers already made

NachoNachoMan · 17/08/2020 12:45

Unfortunately you just don't know the position of the other potential buyers. Presumably they are waiting for an offer from all of the others, and see if they are in a better position than you e.g. cash buyer, no chain etc.

We put in an offer on a house that was on sale for 18 months, slightly under asking price... they said no and had interest from 2 other buyers and went for best and final offer. Looking on zoopla months later it actually went a bit above asking price, around 10k more than our offer, but we had 2 houses in the chain below us so think that also played a part.

Bells3032 · 17/08/2020 12:51

It's been 48 hours. I'd recommend calling the estate agent and checking in with them. TBH people are human and they may have just forgotten.

Good luck!

cabbageking · 17/08/2020 12:58

I would wait for all the booked viewing and the letter from the Estate Agent with the written offer before deciding. Then I would discuss it with the EA who should have more info about any chain, cash offers, mortgage or loans.

You don't always accept the highest offer.

WB205020 · 17/08/2020 13:06

Do what i did.....saw a place on the Friday evening......Put an offer in at 9am Saturday morning at full asking price (based on EA advise that they had already rejected an offer 10k below)......heard nothing on Monday morning so called the EA at lunchtime to ask what was happening. Apparently vendors had 3 other viewings on the Saturday (but not other offers as yet apparently) and were 'considering their options'. I said to the EA that we weren't going to wait patiently whilst the vendor could see if they could get a better offer as they had already had 2 days our offer was on the table until 9am on Tuesday morning then our offer will be reduced by 10k and we will proceed and view other properties. Sure enough an hour later our offer was accepted. The EA said they were pontificating over whether to wait for the following weekend when they had more viewings booked in.

Hard ball tactics sometimes dont work but sometimes they pay off. Just be prepared to do what you say you will do.

Original poster
Fleabagster · 17/08/2020 14:12

Well we phoned the EA and they were waiting to hear back from two other couples who viewed on Saturday. She said it was looking promising for us and would call back before 6pm. I find it slightly annoying they’re chasing the other viewers. Surely if we’ve offered what they want they should just say yes! Ho hum. (I know I’m being unreasonable.)

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missmarplesapprentice · 17/08/2020 14:14

All the best and Good luck.

When we sold, we had offers like yours on the Friday immediately after the first showing. We told the person, we had viewings booked all weekend so we would review after. By Monday morning we had 4. Based on this, everyone was told the situation and "best and final". This required the buyers to have proof of funds etc. and everyone was given 48 hours. We accepted an offer on the Weds.

As vendors we didn't mess around and made quick decisions but it still took 5 days from that first viewing offer to actually accept one. If any person made time demands on us....we would have thought twice about their offer. Once we had all the information....everyone was told within the hour whether they were successful or not.

Make sure you have any Mortgage DIP etc. ready so you are the sort of buyer we would have been looking for.

Pipandmum · 17/08/2020 14:21

You are a good bargaining chip to see if they can hustle up another offer. I too would have gone under the asking price initially.
I hate the system here. Too laid back. In the US you put the offer in writing (though it can be communicated verbally), with conditions set out (for example offer is good until 2pm the next day, whether it's a cash offer, closing date, contingencies - like conditional on mortgage offer, survey report etc). Making things legally binding from the start prevents time wasting, gazumping etc.

4forkssake · 17/08/2020 14:23

Wer'e currently selling & I think you're being a bit unrealistic expecting the vendors to accept your offer when they've had other viewings. Until they hear back they won't know what other offers they might receive & if they have other offers for the same amount, they might to best & final offers as pp mentioned. If you're wanting to secure the property you might need to go over the offer but with the proviso that the house is taken off the market (providing you're proceed-able). Our estate agent still markets the property until (I believe) they have a DIP from a potential buyer. Until then, someone else could come in with a better offer it or better circumstances.

Original poster
Fleabagster · 17/08/2020 14:48

I’m just impatient and nervous. We definitely won’t be offering anything over asking price.
Thanks for your replies!

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Bells3032 · 17/08/2020 15:01

@Fleabagster we originally put an offer into a house. at first we loved it and offered. It was about 93% of asking price but we were chain free and not even in tenanted position so can move as quickly and slowly as we like.

We were rejected. We went for another viewing to decide if it was worth paying every penny we had to raise our offer. We were told another couple had put in 10K more than us and been rejected. After another viewing we decided the house required too much work and we wouldn't be able to afford to do this.

We moved on and have found somewhere stunning and so excited by it. We then has a call a month later from the agent saying if we are still willing they'd accept our offer now. We said no thanks as the final viewing revealed there's a lot more work etc than we initially anticipated.

They've just reduced the house price today....that's what you get for being greedy.

missmarplesapprentice · 17/08/2020 15:04

Just saw your cross post. Just keep in touch with the EA. If there are multiple offers the fairest way is to do "Best and Final" that way no ones offer is used as leverage for someone else's.

I know your keen but just because your offer is asking price doesn't mean it will go for that. The first offer we had was asking price but ours went for £20k over. I know not all are like that and you are definitely a favourable buyer if you are a FTB. I do wish we had a chain free buyer bud closer to the top offer (we would have accepted less for someone like that) but the price difference was so large that we couldn't not pick to go with someone in a chain.

SunshineAndButtercups · 17/08/2020 15:15

I agree with the previous poster - it does depend on the situation. The house I now live in had multiple offers and we had to bid in a best and final offer situation. One bidder who had already been difficult the seller ruled out.

MusGus · 17/08/2020 15:21

How can you be confident that a buyer who bids high isn’t simply expecting the mortgage company to downgrade the value? In the end the amount finally agreed is just above asking price and not the £20k extra that was apparently offered?

I think some buyers make ridiculously high offers fully expecting to pay less once the bank makes its assessment. Especially in this climate and recession.

Buttons4491 · 17/08/2020 15:35

Now this is in Scotland when I mention this, so unsure if same as down south.

We recently offered on a property 10k above Home report (valuation) it was rejected. Our solicitor managed to find out that we were the second highest and the highest offered something in the region of 190k!!

Buttons4491 · 17/08/2020 15:37

so to summarize they offered a total of 46k more than asking, Jeez! granted it was in a very popular area, with scope to extend as other properties have done so. The property needed quite a bit of modernization

Bells3032 · 17/08/2020 15:41

@Buttons4491 some people just have more money than sense. A bit different here in England as you but in an offer then get the home buyers report and if necessary renegotiate....the Scottish way makes far more sense.

Blossomorange · 17/08/2020 15:57

Try not to fret especially since it’s not your dream house - something better will come along if this doesn’t work out. We have just had an offer agreed and again not dream house but was 350 - they accepted 338. EA was v pleasant and we happened to meet the owner on her way out and had a good chat.

Previously we had gone to see another house and it was taken off the market before we even had a chance to offer (even tho we had a second viewing booked). In that case EA was very unpleasant and I feel they sold it to an acquaintance under the table.

Be strong and don’t be drawn into a bidding war for a bit dream house!

Original poster
Fleabagster · 17/08/2020 16:23

Offer accepted! Hurrah!

OP posts:
Blossomorange · 17/08/2020 16:28

Congrats! Wish you the best with it all.

Bells3032 · 17/08/2020 16:28

@Fleabagster congrats. Now all the stress happens!! haha. Enjoy the crazy process :)

minnieok · 17/08/2020 16:35

We heard within a few mins but if more than 1 person has offered the same then they may be checking ability to pay etc first