Waiting to see if our offer is accepted. Should we have offered over the asking price. Nerve shredding.

[Sundaymorningfiveninteen]

Property went on the market Friday. 8 viewings booked for Saturday, more requested but that’s all the agent could do. We were second to view. Made our offer in the car on the way home for the full asking price .
Agent only allowing buyers ready to proceed to view so anyone looking can put in an offer. Our situation is reasonable good. Selling a house we do not live in , we are the 4th and last house in the chain. Then we will be cash buyers and can stay in our current home as long as it takes .

My worry is should we have just offered over the asking price straight away? It was t sealed bids, nor where they asking for region of / offers over. Just the asking price.

We can afford 10 thousand pounds more and believe the house is worth it . If we are not successful will we have the opportunity to increase our offer before the vendors accept another offer? I do t like the thought of getting into a bidding batter or worse , lifting the house out of someone’s hands once they think it’s theirs.
A bit of me want to ring at 9am and increase our offer regardless but my husband says that’s madness.

I love the house and would feel very silly if we lost our chance over a small raise in the offer.

What are your thoughts? Should we have offered more straight away ?

wasn’t seal bids!

It's impossible to call these things. But you put in a decent offer and aren't in a difficult position. I think you just have to hope no-one puts in a better one. If they did - well it wasn't meant to be

we've offered on a lot of properties recently (all went to multiple offers)
EA contacted all that offered again and asked for any best and finals before they then accepted one.

Whats the market like where you are? I'm a NW market town.... all houses under 500k are selling for above asking price at the moment therefore no one would offer 'only asking price if they really wanted the house...but might be very different where you are....our neighbour just completed last week....house was up for 290....she accepted 315 ..... good luck 🍀

Hi Blue Jelly , does that mean it’s not the done thing to up our offer if it’s rejected? Never been in this type of situation before. But yes, I will just have to move on and learn if it doesn’t go our way. I honestly am confused about offering more straight away or holding back .

Thanks for further replies. We are a bit rural so when something that isn’t a mile up a farm track or a doer upper comes on , it goes fairly quickly. Kicking myself now. However, hopefully from what’s been said, we will get a further bite at the cherry. Thank you .

I'd leave it. If they get more offers, they'll usually contact everyone & ask for best & final offers. Does their agent know your situation re selling etc. That might be worth a phone call in the morning!

In our area no ones offering over asking.it’s very area dependant.
It’s done now, sit tight.
Usually if you offer full asking it’s with the proviso they take off market and no more viewings.

From my limited experience houses are going for the asking price or decent offers. Not to many stories of bidding frenzies. We are in North Lincolnshire, hard to imagine people fighting over houses around here . No offence , it’s just so quiet.

Agents know our exact situation. They took the details down very carefully, even asked if we would bother with a survey ? Assuming if we say no it might speed the buying process .

They will either reject, so you offer more, counter, or say give us best and final. I doubt they would go immediately with another buyer who offered more without coming back to you first. Not needing a mortgage is good, but do NOT think skipping a survey is a good idea. I don't think not getting one would speed things up any and it may be something you live to regret.

@Sundaymorningfiveninteen

Agents know our exact situation. They took the details down very carefully, even asked if we would bother with a survey ? Assuming if we say no it might speed the buying process .

Hmm that would make me get the best one I could & quite possibly a second one.

Definitely don't buy without one!

We won’t buy without a survey. House is 14 years olds. Unlikely to have any problems but you never know. I bought a new build years ago which had to have 2 major corrective procedures months after we moved in. Reminds me, I will ask today who the builders were . Thank you.

You can't know. You could have offered £10k over asking, had it accepted and wondered if they'd have accepted asking. Ask agent if the offer was accepted, if not for an update - viewings ongoing (for how long?), higher offer received, etc. If viewings are ongoing, let the agent know you will continue viewing other properties, i.e. they risk losing your offer.

It's a nightmare isn't it? There has to be a better way of doing this. We've just been through exactly the same thing. Round here now they call it a 'guide price', not even an asking price so you've no idea what to do.
Ours was guide price £600-625k. We had 618,000 accepted in the end. Luckily there was no bidding war.