No response to offer from vendors

ChiquitayouandIKnow · 2023-03-24T14:49:13+00:00

So we offered on a property at 3% under asking (so a good offer) and ours has literally just gone on the market (hoping for an offer this weekend). So the offer was made two weeks ago and the vendors haven’t said yes or no. I get we haven’t sold so aren’t proceed able but they just haven’t responded with anything. EA said they had received a higher chain free offer but when I asked why she hasnt sold to them they said ‘they still need to raise the funds’ so think it’s BS. not really sure what I am asking but I feel that we should know either way and it’s putting me off a bit?

AgentProvocateur · 24/03/2023 14:54

Depends where you’re buying. I wouldn’t call 3% under the asking price “a good offer” and the vendors obviously feel the same.

Sundaefraise · 24/03/2023 14:56

But you haven’t sold - so you’re not really in a position to offer on anything, especially under the asking price, although agree it would be nice to get a response.

AlisonHalligan · 24/03/2023 14:58

Well, they're unlikely to accept as you haven't sold. Suspect they are keeping their powder dry by not responding at all so that they can see what happens while you get yours sold.

Original poster

ChiquitayouandIKnow · 24/03/2023 15:02

@AgentProvocateur in London and we would be delighted with 3% under as a starting point 😂

I totally get they can’t accept but thought they would say something? It doesn’t look like they’ve had any other proceedable offers either.

OP posts:

Highhighhope · 24/03/2023 15:40

Don’t take it personally but you are not a proceedable buyer at the moment so even if you offered the asking price, it is too risky to accept it and to take it off the market. We had offers of up to 200k below - that was the cheekiest - yet the people had not even put theirs on the market! They are on a waiting list to buy a large house in this area (where they currently own a flat) but frankly were putting forward offers because they liked it but at what they could afford (ie much lower than inferior houses to ours) rather than on what the property was worth to their competitors. We have an asking price offer now from someone who is under offer so this is the only one we would entertain…And another from two from unproceedable buyers.

The market is really weird at the moment. What sort of property and at what price point are you on at as you seem confident that you will go under offer this weekend? Agree someone should have just responded but suspect at least.

Agents are probably waiting for a proceedable buyer so they can bank their commission.

Put your offer in writing as they have to pass it on to the vendor.

Clymene · 24/03/2023 15:46

What do you want them to say? You're not proceedable.

YaWeeFurryBastard · 24/03/2023 15:59

Clymene · 24/03/2023 15:46

What do you want them to say? You're not proceedable.

This! You need to go back to them with your offer when you’re proceedable.

PleaseJustText · 24/03/2023 17:43

To be fair, we offered when we weren't proceedable last time we sold. The sellers said they accepted in principle but wouldn't take the house off the market until we had sold. Because of that, we knew our bottom line for offers on our own place. The first offer we had was less than we hoped but we called our sellers agents told them about the offer and got them to confirm our offer was accepted before accepting for our own place. Though the market was faster then and this all happened in about 3 days, I don't see why a seller couldn't tell OP they'd be prepared to accept that amount when she is able to proceed.

Original poster

ChiquitayouandIKnow · 24/03/2023 18:15

Well I wanted to know if it was acceptable or not. Then I know what price we need to aim for?

OP posts:

AgentProvocateur · 24/03/2023 18:39

Goodness - I’ve just offered 18% over the asking price in Glasgow and been outbid. Good luck. Hope your offer is accepted.

Saschka · 24/03/2023 18:49

They are hoping you’ll up your offer. I doubt there is a higher bid at all - estate agents lie all the time. We put an offer in on a house last week, 4% under asking and we are genuinely chain free (and have an AIP for the mortgage).

Estate agent came back saying there was an asking price offer but vendors only wanted to look at offers “over asking price”. It had been in the market for six weeks at this point.

We said no, but the estate agent keeps coming back asking if we want to match the other offer. If the other offer actually existed, I am pretty sure the agent would be ringing them and not me.

Chippy1234 · 24/03/2023 18:50

I honestly get frustrated at people who haven’t sold their own house and start making random offers because of course THEIR house will be snapped up!

The market is very odd. If you are willing to be flexible and aren’t completely deluded regarding what your house is worth and you have a compelling reason to move it might be OK but there are so many people who just say we will wait until we get what WE want! It will change though. It always does…mortgage rates seem to be stabilising and spring is around the corner.

I have sold a relatives house recently. Just waiting to hear about the survey but it is a horrible feeling and it’s not even my house!!

There must be a better way of doing it than this…

Saschka · 24/03/2023 18:51

AgentProvocateur · 24/03/2023 18:39

Goodness - I’ve just offered 18% over the asking price in Glasgow and been outbid. Good luck. Hope your offer is accepted.

Different system in Scotland though, isn’t it? In England you usually offer low and negotiate up, unless the market is going crazy and you have multiple buyers bidding against each other (which isn’t the case at the moment).

Chippy1234 · 24/03/2023 18:52

18 months ago it was a sellers market. Now it’s a buyers market. It is ever thus…

NorthernDrizzle · 24/03/2023 18:53

You haven't made an offer
You have expressed an interest for when you may be proceedable.

Roselilly36 · 24/03/2023 18:54

When we moved, I wouldn’t have entertained a viewing from someone that wasn’t in a position to proceed, let alone an offer. If I was in your position OP, I would keep an eye on RM but not bother with viewings until you are SSTC, you will be taken much more seriously then. Good luck.

Saschka · 24/03/2023 18:55

Chippy1234 · 24/03/2023 18:52

18 months ago it was a sellers market. Now it’s a buyers market. It is ever thus…

Some sellers haven’t got the memo!

Original poster

ChiquitayouandIKnow · 24/03/2023 20:39

Roselilly36 · 24/03/2023 18:54

When we moved, I wouldn’t have entertained a viewing from someone that wasn’t in a position to proceed, let alone an offer. If I was in your position OP, I would keep an eye on RM but not bother with viewings until you are SSTC, you will be taken much more seriously then. Good luck.

Yes, the market was like this, you couldn’t even get in the door. It has defiantly changed now, we were viewing without even being on the market because they want the business, two years ago they wouldn’t even call you back!

OP posts:

Original poster

ChiquitayouandIKnow · 24/03/2023 20:40

Also we did say to the EA we really like it, but no point making an offer as it doesn’t mean anything? No no make an offer and see if the vendor will agree in principe. So the market is very different now.

OP posts:

Movingonup2023 · 24/03/2023 20:45

I don’t know how it is in England but we just bought in Scotland. Offered on a house before we went on the market and offer stated it was to be accepted by 5pm on that date. They accepted subject to sale and we went on the market around 10 days later. They must know if they would or wouldn’t accept by the lack of response I’d think they are hanging on in case they get something better.

EAT4401 · 08/08/2024 21:38

We are under offer with chain free, our buyer has nothing to sell, so we are in really good position. We found a house had a viewing, search little bit nearby sold prices, etc. So the house next to it exactly the same, size, looking, condition, sold last year 2023 for £525 K this house we are interested in up for sale for £650 K Condition of the house is bad, windows doors, carpet, roof everything needs to change ! The vendor is selling this house £125 K more than next door sold last year! And the EA well overpriced this house as has been 2 months since on the market. We said to EA that, next door sold £525 last year and consider the condition of the house we offer 560K, EA said that the vendor had and offer more than yhis and they rejected, she called us back in 10 mins said didn’t accepted. We said that wait is their price range, she didsay anything, we said £570 not 1 penny more. She didn’t call us back for 1 day about the offer. We called them after 24 hours, as soon as called her she said, i was just about to call you, the vendor is not rejecting your offer! We said ok £572K she called us in 10 mins said they rejected your offer !!!! We said they have to come with counteroffer now. She said £590 they will accept! We said NO, in this case £575 K final offer. Has been 2 days now we are still waiting for respond. The vendor lives with his kids now so the house is vecant, vendor’s kids are selling the house. No way i pay £125 K more when same house sold year before to £525 K. I don’t really understand what are they trying to do ? So frustrating and waiting with no respond !

Twiglets1 · 08/08/2024 21:44

EAT4401 · 08/08/2024 21:38

We are under offer with chain free, our buyer has nothing to sell, so we are in really good position. We found a house had a viewing, search little bit nearby sold prices, etc. So the house next to it exactly the same, size, looking, condition, sold last year 2023 for £525 K this house we are interested in up for sale for £650 K Condition of the house is bad, windows doors, carpet, roof everything needs to change ! The vendor is selling this house £125 K more than next door sold last year! And the EA well overpriced this house as has been 2 months since on the market. We said to EA that, next door sold £525 last year and consider the condition of the house we offer 560K, EA said that the vendor had and offer more than yhis and they rejected, she called us back in 10 mins said didn’t accepted. We said that wait is their price range, she didsay anything, we said £570 not 1 penny more. She didn’t call us back for 1 day about the offer. We called them after 24 hours, as soon as called her she said, i was just about to call you, the vendor is not rejecting your offer! We said ok £572K she called us in 10 mins said they rejected your offer !!!! We said they have to come with counteroffer now. She said £590 they will accept! We said NO, in this case £575 K final offer. Has been 2 days now we are still waiting for respond. The vendor lives with his kids now so the house is vecant, vendor’s kids are selling the house. No way i pay £125 K more when same house sold year before to £525 K. I don’t really understand what are they trying to do ? So frustrating and waiting with no respond !

They want 590k as the minimum they will accept at the moment.

You said No. That’s the end of the conversation as you couldn’t reach agreement on price.

EAT4401 · 08/08/2024 21:48

£65K more you are paying extra for same house sold last year ! The house condition is really bad. If they won’t accept the offer EA should call us say offer is not accepted!

Twiglets1 · 08/08/2024 21:56

EAT4401 · 08/08/2024 21:48

£65K more you are paying extra for same house sold last year ! The house condition is really bad. If they won’t accept the offer EA should call us say offer is not accepted!

No point getting agitated, they don’t have to accept your offer and their EA works for them not you so doesn’t have to do anything for you apart from pass on your offer.

EAT4401 · 08/08/2024 22:03

You are right but in the meantime we are under offer chain free, making reasonable offer consider the conditions and next door sold price etc. If EA say to me that they are not rejecting your offer £570, she can’t say they accept £590 K, that is £20 K jump ! This well over the house value! They don’t reject £570 K, they will reject £575 K !! It doesn’t make sense to me !