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Original poster

Oh god, I messed up didn't I?

28 replies

catsjammies · 08/10/2021 13:49

Just put an offer in on a house. No messing around, we came in at asking as we think it's reasonable. They have several viewings coming through tomorrow and it's just hit me that the agent is probably going to use our offer to start a bidding war isn't he? 😭 bugger. Feel like such a prat!

OP posts:
GreenestValley · 08/10/2021 13:51

what do you think you should have done instead?

toobusytothink · 08/10/2021 13:52

I think if I were doing that I would have said we will give asking price but we want no more viewings and it taken off market. But if they had some lined up they would be silly to accept that anyway. I think if there’s going to be a bidding war it would have happened anyway. It might actually put others off knowing there is an asking price offer on the table already as they might not want to get into a bidding war either. Just think what you’d be prepared to pay and stick to it. If it’s meant to be yours it will be otherwise let it go

ChewChewPanda · 08/10/2021 14:02

They might but if you are in a good position they might accept anyway.

We had an offer on a Tues with 7 viewings lined up for Saturday. It was a good offer from proceedable buyers. We said yes and cancelled the other viewings. That might make us a bit daft but we felt the buyer had been fair to us and we wanted to be likewise to them, and get moving on our purchase.

Original poster
catsjammies · 08/10/2021 14:02

You're right toobusy. Any which way this would have happened so I guess at least we're first out of the gate. I'm not sure we're willing to go much higher (or higher at all) as it needs work. We're not desperate to move so guess we just need to wait and see!

OP posts:
Original poster
catsjammies · 08/10/2021 14:04

@ChewChewPanda

They might but if you are in a good position they might accept anyway.

We had an offer on a Tues with 7 viewings lined up for Saturday. It was a good offer from proceedable buyers. We said yes and cancelled the other viewings. That might make us a bit daft but we felt the buyer had been fair to us and we wanted to be likewise to them, and get moving on our purchase.

That's good to know. The seller is selling what has been a BTL to pay of their existing mortgage, which the agent says the asking price does with a bit to spare, and they're not in a hurry for the money, so I'm crossing fingers.
OP posts:
ILoveJamaica · 08/10/2021 16:15

I think if I were doing that I would have said we will give asking price but we want no more viewings and it taken off market

Exactly. This is the norm. Why didn't you do this?

Original poster
catsjammies · 08/10/2021 18:18

@ILoveJamaica

I think if I were doing that I would have said we will give asking price but we want no more viewings and it taken off market

Exactly. This is the norm. Why didn't you do this?

Because I don't know what I'm doing! (Clearly 😬😬)
OP posts:
WaterScarf · 08/10/2021 18:22

So hopefully you have now called the agent OP and stated that your offer is only on the condition that they take it off the market. You have done that now yes?

Stickyblue1987 · 08/10/2021 18:56

I don't think you've messed up. Am asking price order in today's market is sensible. I doubt the owners would take it off the market for the sake of a day.

Kingsmead · 09/10/2021 08:17

We put in an offer £5k below asking range - buyer was insulted and it went to the jiggers offer.
Next property we offered £5k over the lower end of the asking range, buyer wouldn’t make a decision until all viewings that week had taken place - ended up going to sealed bids - it has gone for crazy money. - we clearly didn’t get it!

JoborPlay · 09/10/2021 08:30

Don't worry. They'd probably have refused to take it off the market and cancel the viewings anyway. I would have if I had loads of viewings lined up. And I'd know you liked the house and would probably keep your offer on the table anyway.

I wouldn't worry. Yes they'll probably tell people that there's an offer on the table but it sounds like it's a popular house anyway.

JoborPlay · 09/10/2021 08:31

@WaterScarf

So hopefully you have now called the agent OP and stated that your offer is only on the condition that they take it off the market. You have done that now yes?
And if they refuse? The op clearly wants the house, it's an empty threat and the estate agent will know it.
LawnFever · 09/10/2021 08:33

Have they accepted the offer? I’d call asap and say you need to know if your offer is accepted and if so they stop and further viewings, just putting an offer in means nothing until it’s accepted.

HeronLanyon · 09/10/2021 08:38

From op
That's good to know. The seller is selling what has been a BTL to pay of their existing mortgage, which the agent says the asking price does with a bit to spare, and they're not in a hurry for the money, so I'm crossing fingers.

This is the very clearest example of why when I am selling I say as little as possible to my estate agent about my situation my finances and my plans. Sometimes it’s obvious (eg selling a probate property) but for goodness sakes unless you want a message like this going to possible buyers just don’t share stuff like this.
Good luck op.

ByeByeMissAmericanPie · 09/10/2021 08:40

I’ve just lost a house this week - got out bid. My offer was based on the fact that if it was accepted, the house would come off the market. I’m in an excellent position to buy, cash buyer, in rented… but got slightly cocky and knocked a few percent off… they accepted the full asking price from another party.
I’m not sure what lesson I’ve learned as every house sale scenario is different, but the agents know I’m still interested.
What will be, will be…..

Kingsmead · 09/10/2021 08:44

@ByeByeMissAmericanPie

I’ve just lost a house this week - got out bid. My offer was based on the fact that if it was accepted, the house would come off the market. I’m in an excellent position to buy, cash buyer, in rented… but got slightly cocky and knocked a few percent off… they accepted the full asking price from another party. I’m not sure what lesson I’ve learned as every house sale scenario is different, but the agents know I’m still interested. What will be, will be…..
We’re in the same position, we’ve had 3 rejected offers and every time the seller has behaved differently - but they have all been about the highest price, no surprise lots of deals are falling through.
Original poster
catsjammies · 09/10/2021 18:37

Thanks all. No I didn't call the agent back as I don't think it would have made a difference. We aren't desperate to move so I'm feeling more zen about the whole process today. It will be interesting to see what Monday brings.

OP posts:
BlueMongoose · 09/10/2021 20:53

Last time we had three asking price offers in the first few days. We closed with the first one made, as we felt in the specific circumstances of the potential buyers that there was no other fairer way to choose. Had the first viewers offered less for any reason, though, we'd have gone with the first to offer asking.
It's always a lottery. I think you did right- you should be honest and offer what you are happy to spend and think is fair. That's what we've always done. Then resolve not to have any regrets- you've been open and honest, and if you don't get it, that's just the way it worked out. At least you don't have to kick yourself for trying to be too clever, playing games and losing out because of it.

BlueMongoose · 09/10/2021 20:56

@WaterScarf

So hopefully you have now called the agent OP and stated that your offer is only on the condition that they take it off the market. You have done that now yes?
We found some agents simply will not agree to do that these days. Last time we bought, we asked, were told no, in the end had to keep our offer open for 6 months, and darn near got gazumped part way through and had to increase our offer.
PointyMcguire · 10/10/2021 10:51

Just to reassure you OP, we made an asking price offer on our dream house about 20mins after viewing it as we knew it had a lot of interest and wanted to clearly state our position to the seller. We did caveat that we were making the offer on the condition that the house was taken off the market and any further viewings were cancelled, which to a certain degree they agreed to but the EA said the remaining viewings that day would still need to take place and that feedback from those viewings would need to be considered before our offer would be formally accepted. Anyway, after a tense 24hrs our offer was accepted, no bidding war or gazumping, although they did later admit they’d received quite a shitty letter from one of the would be viewers saying he’d have matched or bettered any offer we’d made, but they still went with us as they liked us and our vision for the house. So making a strong offer early on definitely doesn’t necessarily mean a bidding war Smile

myadhdusername · 10/10/2021 10:54

Where in the country are sellers taking houses off the market for asking price offers atm? Confused

I’d have laughed (in my head) if someone said that to me when I sold my house a few weeks ago.

PointyMcguire · 10/10/2021 11:24

@myadhdusername we sold ours in the SE last summer and took it off the market for an asking price offer and made our offer in the September on a house in East Anglia. So not that long ago, but granted things might have changed since.

myadhdusername · 10/10/2021 11:26

I just can’t imagine anything like that happening around here in at least the last year but acknowledge not everywhere is the same of course!

Sarjest · 10/10/2021 23:00

I don’t think you could have done any different. They haven’t accepted and will probably want some time to mull it over bearing in mind there are other, imminent viewings. If you hadn’t put your offer in someone else might anyway - might be more or less but what else could you do?

Flowersinthefireplace · 10/10/2021 23:02

Demanding it be taken off the market wouldn’t work if there’s more viewings in. If it doesn’t sell then they’ll just accept the offer. Love people who think they’re hardcore negotiators