Offer etiquette

[Hurdlingover]

Is it bad form to leave an offer on the table for a few weeks without a yes or no, asking price has been offered which I didn’t expect.

Why on earth would you advertise your house at a price you weren't sure you were happy with ? You were definitely happy with the idea of that price when it was listed. Now you worry, because you got a lucky offer from a cash buyer, that you didn't charge enough ?
Get a grip and grab that offer quick, that's if you haven't put them off already...

This isn't a job offer. You don't need the 'right' person to sell to although you already have that. A cash buyer offering asking price. If you wanted more then you should have asked for more or gone to auction. This is buying and selling, you should sell the to the first person who offers what you ask for.

You'd be mad to not accept an asking price offer from a cash buyer.

If your EA has checked the buyers out that they have the cash why aren't you biting their hand off with their asking price offer? By all means wait until after the weekend but you risk them going to view others houses and perhaps offering on one of them instead. And, since you are asking about etiquette, you sound like a seller who will mess their buyers around!

Around here, a property loses its appeal the longer it is on for because then people assume there is a negative reason for it still being on the market. Another assumption is made that the sellers will be more and more desperate to sell so a lower offer is made.

Don’t do this , what a dick move. You wanted to sell your house? You agreed a price with the Estate agent that you were obviously agreeable with as you marketed it, you have had an offer of this asking price from cash buyers and you’re possible going to leave them hanging?! Nope! I’ve been played in that situation before and absolutely awful. Someone wants to buy your house.. SELL YOUR HOUSE. The games of house buying and selling is ridiculous

@Hurdlingover also just because they have offered the asking or even above does not been that u priced too low… there has been a shortage of houses in certain parts of the country for last few years, people have lots of reasons why they may be wanting to move quick on your house in your location and very little of those reasons could be about the asking price!!they want to show they are serious and want to buy the house so they think il not dick the vendor around and offer the asking price…but the respect is often both ways!

If you had a firm asking price then you should consider accepting.
If you're advertising at "Offers over £XXX" in the hope of a bidding war, then fair enough to leave it on for two weekends I think - BUT you must let the buyer know what you're up to, and make a decision on the Monday after the second weekend.

Awful behaviour. Even if you do now accept their offer, you have set the tone that you are not acting in good faith. You asked for a price, they offered it and now you are dicking around

Yea I certainly would and I definitely wouldn't buy from you tbh

You're a fool if you refuse in that case!!

My parents got several offers very quickly. They honoured the viewings that weee already booked. Then accepted ab offer as soon as they were all done. Only a few days. I'd walk away if you left it more than a week.

We were the buyers in this situation a few years ago. We were fobbed off for 2 weeks, they said they couldn't get hold of the seller as she was on holiday...an obvious lie.

At 2 weeks we said we wanted to withdraw the offer, the EA ended up yelling at us. They'd continued to market & were hoping for a bidding war from weekend viewings. We withdrew the offer, it eventually sold for 20k less that we'd offered. We bought a better house on the same street that came on the market 2 weeks later. We know the couple who bought that house, the vendor was hard work & we are glad we walked away.

They have offered the asking price and you suggest making a counter-offer!!! Monstrous arrogance! As a buyer I would walk, and never consider buying from you

Really? As a buyer, if I was extremely keen, house had just come to market with lots of viewings up for the weekend, and the seller politely came back with- we've only just gone to market and are keen to have weekend viewings, but if you can up your offer by 10k then we'll cancel the weekend viewings and proceed... as a keen buyer I'd find that 10k. And I wouldn't mind, I'd appreciate the chance to stop any higher offers.

Not everyone is as emotionally overwrought as you seem. It's not 'monstrous arrogance' to some, it's just buying and selling your most important asset. The prospective buyers might well appreciate the counter rather than being left hanging, neither you or I know.

Never considering buying from someone open to negotiating seems a little... well... unnecessarily restrictive.

"Open to negotiation" is one thing - letting a seller up the price after you've agreed to fully pay what they were asking is something else entirely

Although the idea that the buyers would "appreciate" the price suddenly rising did give me giggle, so thanks for that!

Yes, but I’d really want to get into a bidding war, right? Presumably you would wait for raised offers from the other bidders, drag it out and hope to get the best price…
Im guessing you haven’t bought or sold for a long time?
We were in a similar position, we offered the asking price, the vendors accepted, cancelled other viewings, and we move in tomorrow. They behaved honourably, and weren’t shabby shysters. If they hadn’t, we would have walked without question.

Oh for goodness sakes.

Yes, I have both bought and sold 5 houses in the last 8 years, in this country and abroad. I've never had a sale fall through once price agreed. I've never gazumped, although I have been so, and while missing extra cash I didn't take against the sellers, they are just trying their best to get best price. Everyone is free to say no to anything that they are not comfortable with. I'd never get offended by negotiation, although I do get put off by messing about after price agreed.

We don't all work in the same way. You do it your way, I do it mine. I'm merely offering an alternative viewpoint as at this stage both sides are sounding each other out. There's a chance the prospective buyers might think like me.

Personally op, I would never just accept an offer without countering. The buyers can say no, that's our best and final, we withdraw the offer by Friday if you dont accept etc, then everyone knows where they stand.

Lots of unnecessary knicker twisting here.

’You would never accept an offer without countering’ WTF? Do you do this in all walks of life? Somebody offers you the asking price and you immediately counter with a higher price? I am literally speechless. An ultimate CF.

Oh yes. When my friend offers to buy me a coffee I always try to get a cake in too. Oh, and when Mum offers to babysit I always push her to take them overnight aswell.

Negotiating on a house sale / purchase is not cheeky fuckery. It's negotiation. I've no idea why that makes you speechless and I'm really sorry you find normal procedure so stupefying.

No doubt we wouldn't manage a sale between us, and that's absolutely fine too.

Good Luck OP, they do sound like good keen buyers and I'd be very interested in their offer.

Keep us updated, it's good to know how things go.

I agree that I'm finding some of the outrage on this thread rather weird. As I said in my first post, as long as I was being communicated with, I'd totally understand why a seller might want to honour booked viewings on the first weekend on sale before deciding whether to accept my offer. The asking price is a guide - houses very often sell for more or less, and the market will drive what that is. If my asking price offer ended up being one of several and I had to raise it, I'd understand that this was the market I was in, and that the seller naturally wanted to find the best price they could, as would I if selling.

You suddenly deciding that you are not happy with the advertised price and want more is not their problem. That’s a matter for you to do your research on and make sure you are happy with before you market your house.

If they were not cash buyers and needed a mortgage you would be in a stronger position to delay as they could understand that you might be holding out for a cash buyer from another viewing.

There is a risk they will walk away. You can limit this by making it clear you want to honour the booked viewings and will make a quick decision after those.

I hope it all works out for you. Buying and selling is stressful. Anything might happen right up until exchange.

They're cash buyers, offering asking price. Even if you get an offer £5K over asking from a chain buyer or FTB looking for a mortgage, the cash buyer is still more attractive even at the lower offer.

The house was presumably priced as it was because thats what it's worth. A mortgage buyer can offer £10K over asking and the mortgage company will simply say its not worth that much and refuse to lend it. Then you've lost your cash buyer and you have to remarket or accept a lower offer from them (probably around the same as the cash buyer was offering) but be held up by all the mortgage sorting out/chain etc that you'd have avoided with the cash buyer.

I cant see how OP will get a better offer, and they're risking losing their buyer.

So the first part of your post agrees how cheeky it is to ask for more when someone offers you the proposed price? Then the second half of your post says that is normal negotiation?
I have no idea what’s point you are trying to make. But ‘negotiating’ that way in business would get you shown the door. It is literally the opposite of negotiating.
WTF.

They have offered the asking price!
What do you mean you would be interested in their offer?! Are we not reading the same thread?