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Original poster

Offer etiquette

97 replies

Hurdlingover · 03/05/2023 13:44

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.

OP posts:
CellophaneFlower · 04/05/2023 14:45

It's always advisable to get a few agents round to value and their valuations often differ quite a bit, so it is hard to price your house.

When I sold my dad's house, the first person through the door offered 5k over asking if nobody else saw it. I came back with 10 and they accepted instantly. It could well have been under valued and I didn't feel I was a cf or greedy for trying to get the best price.

I would say you'd like to honour the booked viewings. If they're desperate to secure it, they'll offer more if they are able/want to. If not, they take their chances, as do you if they bugger off! If they were to do that though I'd assume they weren't 100% set on the house anyway.

greensquirrel · 06/05/2023 08:20

I don’t think the issue is being cheeky - I think the issue is that you’re playing roulette and you might lose and end up with no offers at all.

OhhhhhhhhBiscuits · 09/05/2023 18:14

How did the weekend viewings go OP? Have you gone back to the people who offered yet?

dig135 · 09/05/2023 18:43

By the way, I think it's fine to wait for weekend viewings. No one wants to feel they left money on the table, which can take a while to save up.

Venturini · 09/05/2023 18:43

It’s so obvious you would use that offer as leverage for your next viewings and any potential offers that follow. I would run a mile and so would any decent buyer.

thelinkisdead · 09/05/2023 20:19

Hurdlingover · 03/05/2023 18:50

It’s only been on for 5 days so I’m wondering if it’s priced right as they have offered asking.

I don’t mean to mess them about, this is why I was asking here.

Our house had been on for five days and we got an asking price offer from cash buyers. We snapped their hands off - both reasoning that a complicated chain for an extra 5-10k or so wasn’t worth it. We think our house was possibly slightly underpriced, but it sold quickly, we were able to offer on one we loved with the added bonus of having a very small chain which suited our chain-free vendors.

I’d be very wary of waiting. As a buyer, I’d think you were untrustworthy and would worry about being gazumped. We also had further viewings booked, and previous viewers who had expressed an interest in viewing again, but cash buyers & asking was too good to turn down.

viques · 09/05/2023 21:59

@Hurdlingover

we are on tenterhooks here. So, did your weekend viewers come through with cash offers over the asking price?

hereiamagainn · 09/05/2023 22:09

I would caution you against being greedy here.
True story, January 2022 a house was on at 200k. I was the first to offer asking price, it was on a Wednesday but they took more viewings on the weekend and it went to a best and final. I offered £208 and wasn’t the highest, so I lost out. I bought a different house and move in last year, but original house popped back on the market around that time, and it’s been for sale ever since. It’s been reduced it to £180 and it’s still not shifting. The sellers must be kicking themselves.

CellophaneFlower · 10/05/2023 03:44

hereiamagainn · 09/05/2023 22:09

I would caution you against being greedy here.
True story, January 2022 a house was on at 200k. I was the first to offer asking price, it was on a Wednesday but they took more viewings on the weekend and it went to a best and final. I offered £208 and wasn’t the highest, so I lost out. I bought a different house and move in last year, but original house popped back on the market around that time, and it’s been for sale ever since. It’s been reduced it to £180 and it’s still not shifting. The sellers must be kicking themselves.

That was when most houses were going to best and final though and selling way over asking - I don't think it's fair to call them greedy just because you lost out.

Tbf, they could have gone with a lower offer and still been in the same position now. Offering less on a house doesn't make you a more reliable buyer.

hereiamagainn · 10/05/2023 07:57

It’s not necessarily about the amount, more that a bird in the hand is worth two in the bush.

CellophaneFlower · 10/05/2023 09:36

hereiamagainn · 10/05/2023 07:57

It’s not necessarily about the amount, more that a bird in the hand is worth two in the bush.

My point was that any of those offers could have fallen through and left the vendor in the situation they're in now. They may well have accepted your offer and you also might have pulled out due to survey issues etc.

It isn't greedy to want to achieve the best price possible for your most expensive asset. Incidentally, I was chatting to the person that owned my house prior to the vendor I bought off, the other day. She said she accepted a lower offer from him over somebody else's, as she thought they were lovely and would take care of the house. As it turned out, they left the house in a bit of a state and didn't maintain the garden for a year after it sold (first sale fell through). She'd have been wise to have taken the extra cash!

Original poster
Hurdlingover · 10/05/2023 09:44

I’m still getting viewings so they have said that they will wait.

OP posts:
RegalWeasel · 10/05/2023 11:52

I think it's OK to communicate to the people who have offered that you have more viewings for the weekend and will come back to them early next week.

Be prepared to lose their offer though as they might view other properties this weekend that they prefer.

Kind of depends on your local market as to whether properties are in great demand.

If they have offered asking price and are proceedable, might be useful to think through why you aren't inclined to accept. Are you looking for offers over asking or were they part of a chain for example?

RegalWeasel · 10/05/2023 11:53

Genuine cash buyers are sought after so not sure why you wouldn't accept unless there are other reasons?

MarinatemysoulinSprite · 10/05/2023 12:19

Hurdlingover · 10/05/2023 09:44

I’m still getting viewings so they have said that they will wait.

Wait for what?

You have said that your house is for sale at £x.
They have said that they will buy your house for that amount.
EA has confirmed that they are cash buyers.

You want them to hang around for an unspecified time for you to decide whether you will sell them the house at the price you decided on in the first place.

If you have x number of viewings already booked in then it's maybe fair enough to say that you will honour those, but you say that you are "still getting viewings" which suggests that you are continuing to book in new viewings.

If you are not prepared to accept an offer at asking price then just tell them that and let them get on with searching for a property that they can actually buy for the advertised price.

OhhhhhhhhBiscuits · 10/05/2023 12:27

Hurdlingover · 10/05/2023 09:44

I’m still getting viewings so they have said that they will wait.

Wow! You are very lucky. I would have pulled out by now especially after you said you would let them know after the weekend. I would expect to know by the Monday close of play at the latest. Let's hope they stay true to their word OP.

TimesRwo · 10/05/2023 12:29

I actually think OP is the seller from the other thread where the OP has been kept waiting for a week.

Be fair OP - either accept or reject. Don’t lead them on.

CellophaneFlower · 10/05/2023 12:33

I can't see the issue here. If OP hasn't accepted their offer and told them she is still holding viewings, surely it's up to the potential buyers to decide if they're prepared to wait or not? They are perfectly entitled to walk away if they so wish.

SheilaFentiman · 10/05/2023 12:47

And they may well walk away - I would assume they are still doing their own viewings and someone else may snap them up as buyers.

if you were selling the house at .OIRO or similar then your position would be more reasonable but I think you are making a mistake.

OhhhhhhhhBiscuits · 10/05/2023 12:47

CellophaneFlower · 10/05/2023 12:33

I can't see the issue here. If OP hasn't accepted their offer and told them she is still holding viewings, surely it's up to the potential buyers to decide if they're prepared to wait or not? They are perfectly entitled to walk away if they so wish.

She may then be on here moaning that she has lost her buyers, forgetting that she has made them wait so long. Also, the OP is still getting viewers, but that isn't translating into people offering currently....... that would make me really think hard if I were the OP.

FiveShelties · 10/05/2023 13:34

Hurdlingover · 10/05/2023 09:44

I’m still getting viewings so they have said that they will wait.

They are probably looking at other properties.

loobylou10 · 10/05/2023 13:38

This is really annoying - if you weren't happy with the amount you were asking, you should have asked for more.

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