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How long did it take for vendor to accept or decline your offer?

30 replies

prayforthecottransfer · 01/06/2023 13:21

How long is a piece of string kind of question!

Put an offer in this morning and feeling very nervous / excited! How long did it take you to respond either way to an offer?

We completed negotiations on our house within 4 hours, including a counter offer.

OP posts:
HowcanIhelp123 · 01/06/2023 20:24

Depends on the offer I guess. We offered about 10% under asking when we bought our house because the seller had some rather unrealistic expectations (probate property, not updated since the 60s, needed new boiler, rewire, kitchen and bathroom yet had marketed it at £10K less than updated houses that recently sold on the street). It was rejected instantly. They came back about 3 weeks later after several more viewings and 3 offers lower than ours and asked if we'd still want it.

Eventually found was 3 siblings, 2 local siblings wanted to accept our offer and the third who lived a long distance away was stubbornly insisting it wasn't going for under the asking price - that they had insisted to be as high as it was.

prayforthecottransfer · 03/06/2023 19:32

Today's update: second viewing this morning. Spoke to the EA a few hours later and she agreed that vendors would accept asking price and take off market, so we went for it. Came back to us to say that they were hoping to get an extra 10k because it was originally on for 25k more. I said well it didn't sell at that price clearly! Said we would think it through.

Had a really long chat with DH and decided to offer 5k more to meet in the middle as a vest and final. We can afford the extra 5k but they have been on the market 5 weeks now and it needs decorating all over. Another couple offered on the property also.

They said their offer was "Very close to yours" (ours) but the vendors will now need to contact their new build company to see if they can get a discount, crunch some numbers and wanted to know details of our chains and EA phone number to speak to them to clarify that we are able to proceed. Vendors will let us know the final outcome on Monday. If really pushed, we will go for extra 5k but don't want to just give it up easily. We think we are the highest offer but are a chain of 4, so if our competition's is less, that may make all the difference.

The plot thickens! Will update Monday.

OP posts:
Dinkler · 03/06/2023 20:47

@prayforthecottransfer Gosh I feel like they are messing you about!

prayforthecottransfer · 06/06/2023 17:42

We didn't get the house and we were definitely being used as leverage for the others (now soon to be owners!). Our offer was much higher than their but they were cash from the sale of their own house and we're number 4 in the chain.

Never mind. It wasn't meant to be!

OP posts:
Sittingonasale · 06/06/2023 20:06

My buyers put an offer in at about 7 weeks on the market and offered 3K under.
I accepted an hour later after getting over the initial excitement at actually having an offer.
I didn't need to discuss it with anyone really.

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