Active discussions

Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Original poster

How long to leave offer 'on the table'?

24 replies

TinyGlassOwl · 08/04/2021 08:40

We put in an asking price offer on a property last Thursday and have still not had a response from the vendor. Whilst I accept we've had a bank holiday during that time, I know that several other viewings took place on Saturday, Monday and Tuesday this week and as far as we know we are the only offer they've had.

I feel as if they are holding out for other offers, which is their right of course, but in the meantime we are left in limbo. We are FTBs, ready to go. Their previous sale fell through just before exchange and apparently (according to EA) we are 'attractive' to them due to our position. There is no onward chain so in theory this should all be quite straightforward (!!)

We do like the house (fab location) but it's an ex-rental and needs a lot of work, so we feel an asking price offer is very fair even in a busy market. We have seen much nicer houses but missed out on them, so we are compromising on this one a bit.

Would setting a deadline for a response be unreasonable? eg: saying the offer is on the table until eg midday tomorrow? Or is this cutting off our nose to spite our face? Should we just carry on viewing other properties and see what happens?

OP posts:
midgedude · 08/04/2021 08:45

I'd carry on viewing

Not least if they take this long to accept an offer , the easy bit ,will they ever actually move!

DelphiniumBlue · 08/04/2021 08:45

Is there any reason to withdraw your offer? Just carry on looking at other houses. You can have offers on more than one house at a time, tbh.

EasterChick98 · 08/04/2021 08:46

I wouldn't set a hard deadline, but if I were you I'd phone the estate agent and explain that this house is my first choice but I can't wait around indefinitely so will still be viewing other properties until the vendor responds. But explain that if/when the offer is accepted then I will immediately pull out of all other viewings as I really love the house etc.

EasterChick98 · 08/04/2021 08:47

Just to put the pressure on a bit!

JackieWeaverFever · 08/04/2021 08:49

Leave it there (nothing to lose) and keep looking

Original poster
TinyGlassOwl · 08/04/2021 08:50

@DelphiniumBlue

Is there any reason to withdraw your offer? Just carry on looking at other houses. You can have offers on more than one house at a time, tbh.
I did think about this but the EA has a bit of a stranglehold on the area so it's likely that anything else we wanted to offer on would also be with them.
OP posts:
senua · 08/04/2021 08:53

Phone the agent. Say that you are just checking to see that you haven't missed a call and, btw and while you are waiting, what else has the Agent got on their books ...

senua · 08/04/2021 09:12

X-posted.
The Agent doesn't really care about this house; they have loads on their books. You need to convince them that you are a serious buyer and if this vendor isn't a serious seller then obviously you will look at other places. Let him send the hint back to the vendors..

Original poster
TinyGlassOwl · 08/04/2021 13:09

Well, shows how much I know - we've just had a call asking us to submit our best and final offer.

Apparently we will be told later today whether or not we've been successful. Since this is the third time we've been in this position I'm not holding out too much hope Hmm

OP posts:
senua · 08/04/2021 15:31

Well, shows how much I know
This is the problem. You know nothing. For all you know you could still be the only offer received and they could be asking you to bid against yourself.

Decide what it is worth to you and don't get fooled into overpaying. Remember that it is not solely about money - don't forget to emphasise that you are chain-free and very proceedable.
Good luck.

78percentLindt · 08/04/2021 15:39

Agree with senua. There may or maynot be another bidder. I was helping a friend buy after a breakup. she made an offer and told the estate agent that this was her best offer ( as it was above the limit she had set for herself) After a week she asked to see another house on their books and they expressed surprise as the vendor of her house was waiting her best and final offer. She said that they had already had it, and she was still looking.. An hour later, it was accepted.

Silkiescat · 08/04/2021 15:42

If that is what you want to offer just go back and say that is your final offer. There probably is another offer but it may be from someone with something to sell and they may not even be on the market. I wouldn't get into a bidding war where you may overpay. I would keep looking as well.

BlueCherryBlossom · 08/04/2021 16:40

Patience paid off for us and the offer we left on the table for 5 or 6 weeks was eventually accepted.

In fairness to our vendors our offer was under asking and made before the house had been on the market for a week, so we understood they wanted to test the water a bit more first.

We kept in touch with the EA to sporadically let them know we were still keen/serious, and saw other properties in the meantime with the same EA too. We did make it very clear throughout that we wouldn't be sucked into any sort of bidding war if/when another interested party came along; our offer was what we felt the house was worth and they could take it or leave it.

sunshinesupermum · 08/04/2021 16:47

No house is worth a bidding war unless you've got money to burn. If the asking price is your best and final (affordable) off don't get sucked into these games. Good luck.

Lockdowndramaqueen · 08/04/2021 16:57

They are chancing their arm and keeping you hanging on - I’d be tempted to contact agent and say that you are keen for a response to your very reasonable offer and excellent position and they the amount will reduce by 2k a day until they decide to grace you with an answer. 🤣l

Original poster
TinyGlassOwl · 08/04/2021 17:24

We put in a slightly higher best and final. It's still affordable for us and it's a price we'd feel happy about paying, but if someone wants to bid higher then good luck to them, I guess.

But despite the EA promising that the vendor was definitely going to make a decision this afternoon, we haven't heard anything back. So we've booked further viewings for the weekend anyway.

I hate absolutely everything about this process, and we've barely begun!

OP posts:
BlueCherryBlossom · 08/04/2021 17:27

Fingers crossed @TinyGlassOwl.

ColourfulElmerElephant · 08/04/2021 17:33

I’d just keep viewing, especially with the same EA as it then makes it clear that you are serious about looking elsewhere. If they come back and accept, and you have appointments lined up, still view the other places and make sure you are happy to continue with the place you’ve offered on.

EasterChick98 · 08/04/2021 17:37

@tinyglassowl good luck! I hate this process too...

Original poster
TinyGlassOwl · 08/04/2021 17:39

Thanks everyone 🙂

I really hope we find somewhere to live soon!

OP posts:
Original poster
TinyGlassOwl · 08/04/2021 18:25

We didn't get it. Vendors went for a higher offer.

Honestly so fucking fed up with it all.

OP posts:
BlueCherryBlossom · 08/04/2021 18:34

What a shame, @TinyGlassOwl.

The whole house buying/selling thing is hideous from start to finish.

Garlia · 08/04/2021 18:56

@TinyGlassOwl

We didn't get it. Vendors went for a higher offer.

Honestly so fucking fed up with it all.

At least you know you went with your highest and there was nothing else you could do Flowers

Best of luck, you will find something perfect :)

Ladyof · 08/04/2021 19:32

Sorry to hear that. It is so frustrating isnt it. We are the same but looking to move up the property ladder. Unable to find much we like and when we do we dont get it even after offering more.

Have you tried posting letters detailing your position and see if that works?

New posts on this thread. Refresh page