Page 2 | 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?

LindaDawn · 08/08/2024 22:53

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 !

Why don’t you find another house if you can’t reach an agreement on the price.

EAT4401 · 09/08/2024 06:49

We are still looking but there is no houses for sale so this house is the one we liked and only one for sale but i am already offered £50K more than the next door sold price, so i am not going to pay £590K cos house needs a lot doing !

Twiglets1 · 09/08/2024 07:42

EAT4401 · 09/08/2024 06:49

We are still looking but there is no houses for sale so this house is the one we liked and only one for sale but i am already offered £50K more than the next door sold price, so i am not going to pay £590K cos house needs a lot doing !

As @LindaDawn says if you can't reach agreement on this house the obvious thing to do is to find another house even if that takes more time.

If this house is the only one you like for sale in your area, it suggests that the house has some attractive things about it but others will come up in time.

Towerofsong · 09/08/2024 08:11

So at the moment, based on what the EA said which may or may not be true, the vendors have two offers but both are currently non-proceedable

a) One that is higher, once they get the funds there will be no chain, but at present they don't have the funds organised.

b) Yours that is lower, there will be a chain and you also aren't in a position to proceed as you don't have a seller.

I'd say they don't want to say yes or no because everything is up in the air. They are waiting for a) to get the funds organised but if that falls through they may consider yours.

LindaDawn · 09/08/2024 08:16

EAT4401 · 09/08/2024 06:49

We are still looking but there is no houses for sale so this house is the one we liked and only one for sale but i am already offered £50K more than the next door sold price, so i am not going to pay £590K cos house needs a lot doing !

The vendors probably have checked the market and realise that there are no other houses for sale to that compare which is why you are after their house! They may not be in a hurry to move and happy to wait until they get the offer they want. Also the houses they might be after may not be reducing their price.

Twiglets1 · 09/08/2024 10:17

LindaDawn · 09/08/2024 08:16

The vendors probably have checked the market and realise that there are no other houses for sale to that compare which is why you are after their house! They may not be in a hurry to move and happy to wait until they get the offer they want. Also the houses they might be after may not be reducing their price.

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I agree - when I have sold in the past I have always checked my competition and if there isn't much competition in my area then I would feel more confident about achieving a good price.

Blueuggboots · 09/08/2024 10:21

@AgentProvocateur, yes, but the English system doesn't work like the Scottish one?

Tupster · 09/08/2024 12:12

You can't force a vendor to accept your offer - and to be fair to them, you've already gone way over the 525 that the house next door sold for, and you've kept going up every time they've said no, so their negotiating tactic is working well for them.

EAT4401 · 09/08/2024 12:20

LindaDawn · 09/08/2024 08:16

The vendors probably have checked the market and realise that there are no other houses for sale to that compare which is why you are after their house! They may not be in a hurry to move and happy to wait until they get the offer they want. Also the houses they might be after may not be reducing their price.

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Thank you for the comments, the vendor is going to live with their kids, so kids (2 brothers) are selling the house. We just called them today and dropped our £575K offer to £570 K, because has been 3 days now and not heard anything! Again they haven’t rejected £570K either !

EAT4401 · 09/08/2024 12:24

Tupster · 09/08/2024 12:12

You can't force a vendor to accept your offer - and to be fair to them, you've already gone way over the 525 that the house next door sold for, and you've kept going up every time they've said no, so their negotiating tactic is working well for them.

Thank you for the comments, for that reason we dropped our offer to £570K now. They will have more viewings over the weekend and i don’t think they will achieve to £570K. If they do more than our offer good luck to the buyer. We said to EA out offer is on the table, see how it goes after the viewings !