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Best and final offers?

27 replies

Sallymads · 15/06/2021 17:18

We’ve viewed a bunch of houses that unfortunately weren’t for us. A house came on the market Friday evening, it’s a semi cottage on a quiet country Lane, there’s a massive garden to the side and rear and it’s so lovely, a lot of internal work to be done and gardens massively overgrown, but it’s perfect for us and the kids. We viewed it yesterday and fell in love with it and put in an offer.
Estate agent told us it’s had 3 offers already at asking and above, so it went to best and final today. We’ve put in quite a high offer in the hopes to secure it... in her words “ooo are you sure?” Was her response, so I’m thinking there’s already an offer higher than ours. EA told us the other 3 offers were from builders and a Hong Kong investor. We have no chain, healthy deposit and aip in place, but I feel it won’t be enough to contend with an investor or builders esp if they’re cash buyers. How long did it take to find out if you were successful or not?
Ps I hate buying houses- stress!

OP posts:
LeafyBamboo · 15/06/2021 18:30

It's horrible isn't it. When a house I offered on went to best and final, the deadline was 5pm one day, I heard around 3pm the next day that I wasn't successful. Good luck!

WeAreTheHeroes · 15/06/2021 18:34

I interpreted her response as you'd bid too much!

Yayayaya20 · 15/06/2021 18:37

It’s crap OP. Lost out on one last week despite offering more than £35k over asking price. I hope you get it but if not it’s on to the next one.

Cs80 · 15/06/2021 18:39

I recently bid on a house that went to best and final. We went way over and were successful. However, despite it going to best & final the people that missed out counterbid the next day which was a shitty thing to do. We got there in the end but it was all incredibly upsetting and stressful. This seems to be happening a lot. People are bastards.

Good luck Flowers

covidandborisandworld · 15/06/2021 18:48

We got our house that way 20k under but needed A ton of work So far we have spent 40k on renovations. 😳

That was before this covid hotbed crazy market tho.

Good luck.

gg96cgp · 15/06/2021 18:51

We were at sealed bids 2 weeks ago - took 48 hours to find out we had been successful.....by £19 Shock

Tiredmum100 · 15/06/2021 18:54

We've recently sold our house and moved. We had 5 offers so they did the same, best and final offer. We didn't go for the highest offer, we went for the buyer who we liked the sound of the most, who was willing to wait for us to find somewhere. Fingers crossed for you OP 🤞

Thisisanartattack · 15/06/2021 19:21

It’s not all about price and bid, we were the lowest offer but won because we viewed first, have no chain and a big deposit.

Sallymads · 15/06/2021 19:32

Thanks everyone. Got everything crossed over here Grin. We offered more because for where it is and compared to the others in the street, it’s pretty low priced and well within our budget, even with needing a reno. Which is probably why it’s had a lot of interest so quickly.
There’s no chain and it looked like somebody elderly had lived there for quite some time. I’ll go mad if a builder gets it and rips out the original doors and cute farm gates! Lol

OP posts:
BlueMongoose · 16/06/2021 09:09

Our current house went to best and final when a buyer muscled in at the last minute (we'd been patient for months while a separating couple went through the courts). We gave our honest best and final. We won the 'bidding' and then the other party upped their 'best and not very final' offer. The HA was furious as passing offers on was legally very complicated, but the HA is legally bound to pass on every offer. Our seller and the court (who had to approve all this too) stuck with us on principle, and because we had been so patient. It created a lot of stress for all of us, and I thought the other party's conduct stank.

Sallymads · 17/06/2021 09:40

No call back as of yet... hoping no news is good news and maybe the vendors are still weighing the offers up and the EA hasn’t just forgotten to call us back! 🤣 The suspense is killing meBlush

OP posts:
Didicat · 17/06/2021 10:20

Fingers crossed for you, the waiting is torturous

LuvMyBubbles · 17/06/2021 11:31

Good luck.

ineedaholidayandwine · 17/06/2021 11:39

Good luck OP, fingers crossed

AgentProvocateur · 17/06/2021 11:42

@gg96cgp, I was stressed just reading your post!

PineappleWilson · 17/06/2021 11:47

Here's hoping they go for a family who will see it as a long term family home and not just a quick turnaround investment.

TiltTopTable · 17/06/2021 12:42

Good luck! My daughter and son in law just missed out on a 'best and f offer" situation. They bid 20k above asking on an empty house needing renovation. These sort of properties are prime for builders and property developers. My daughter is very down about it all. They can't find anywhere and their buyers are getting impatient.

Sallymads · 17/06/2021 20:09

Thanks for all the good lucks! Had an update from EA and the vendor has still not decided apparently. Seems to me like they maybe weighing up between cash buyer and a mortgage buyer😬 still feeling hopeful though. Should find out tomorrow she said x

OP posts:
Sallymads · 17/06/2021 20:12

@TiltTopTable

Good luck! My daughter and son in law just missed out on a 'best and f offer" situation. They bid 20k above asking on an empty house needing renovation. These sort of properties are prime for builders and property developers. My daughter is very down about it all. They can't find anywhere and their buyers are getting impatient.
This sounds like us right now eeeek. I can definitely see why a vendor would be more swayed by a cash builder/developer, over a mortgage. Just a shame a lot of families then miss out I guess :(
OP posts:
lettie9 · 18/06/2021 10:28

Good luck! When I was selling my flat 5 years ago, there were two buyers and it went to best and final. Except after that, they continued to bid anyway to get the flat. We went for the cash buyer in the end, even though their bid was £5k lower.

Good luck! 🍀

Sallymads · 18/06/2021 11:49

Just had a call from EA and the vendor accepted our offer woohoooooo!!! Absolutely over the moon! Xx

OP posts:
Nowthereistwo · 18/06/2021 11:53

Congratulations. Now you can start dreaming

lettie9 · 18/06/2021 14:31

congratulations! 🎊

1stMrsF · 19/06/2021 00:02

Oh I'm so glad to hear that! Great news and congratulations. We are waiting to hear about our bid (should be a decision tomorrow) and your thread has sustained me a bit this week, especially now I've read your update! Enjoy planning your new home this weekend Smile

covidandborisandworld · 19/06/2021 08:18

Hurrah. I hope it goes
Well for you.