How long for seller to decide on offer?

[Popcornshovel]

I offered on Friday at 13:00 after viewing the property for a second time. House is on the market for £330k been on for a little over 6 months. On Wednesday I offered £315k this was declined. I countered on Friday at 13:00 £317,500 and pointed out a few issues of why I wasn’t offering full asking. I’m a cash buyer no mortgage needed. I thought they would have bitten my hand off in the current market madness. Estate agents say they’ve had no response from seller and have sent two email? 😫(he works unsociable hours) I have a feeling this is an unmotivated seller? WWYD?

That should say £320 not £330 😰 my fat thumbs lol

I'd have another word with the agent. If they've had it in their books gif that king they must know the seller pretty well and if they've rejected other offers or if sajes have fallen through it what. They must want it sold too so hopefully pulling out all the stops to contact the seller.
I'd tell them offer is on the table til Friday but will be withdrawn if you don't hear back.

It's quite possible that they actually can't afford to sell much under the listed price. Or - they are in the process of realising that they can't afford to buy what they wanted. Both scenarios due to the new costs of borrowing.
I would start preparing to look elsewhere. You made a more than fair offer imo

Seller would be a nightmare to complete under.

That’s a really good offer on a house on at £320k. Are you sure they’ve not gone on holiday and the estate agent just doesn’t know?

@DrySherry its a vacant property no chain. He has a new property which he’s living in. I thought this would have made him even more eager. I have a feeling this may have been his parents home as it does need some modernisation.

@LividHot this is my fear. I stressed this to the EA today that his silence and lack of motivation is causing me concern with regards to my offer. She mentioned he’s very thorough when he does communicate with them but he works “crazy hours” but that really makes me worry more about getting it to completion.

@Sundaefraise i don’t think so. We were negotiating no problem on Wednesday. I took Thursday to work my finances out and decided I could increase by £2,500 and now I have just been left to stew so to speak lol. 😫

Emails work 24 hours a day though.

Hope you get a positive outcome.

I'd give it a bit longer. In my old job, with tough shifts, at times I worked 12+hours days with some overnights in the mix, often away form home as well. I'd be waiting for a day off before I could think anything major through.

Well it depends on if it's a lone seller or a seller in a partnership or a seller in a family.

If it is his parents there may be other siblings or beneficiaries that he has to check with

I had this- a week to get offer accepted . Still completed in 4 weeks (pre pandemic)

It’s on for £320k and he declined an offer for £315k? He’s either keen to get the 320 or more and waiting out to see what he can actually get or an unmotivated seller.
When I’ve sold properties in the past, I’ve always told the EA the absolute lowest I’ll take - but tell them not to tell the possible buyer until they’re in extensive negotiations.
It cuts out back and forth…

As other posters have said though, it could be a probate property and he is the main executor and needs to speak to other parties first. They will all need to agree on a price.

It can be challenging if families aren’t that close or you have a beneficiary who is being awkward….

For me though, if it is a bane to get an offer accepted- imagine what it’d be like when the sale would actually be going through. This is an example of what drags out processes….

I’ve finally had a call that my offer has been accepted 🤞🏼 I just hope this all goes to plan now 🤩 Thanks for all your help. ❤️

Aww, yes! Fingers crossed for a smooth purchase for you.

As long as they want, and maybe never: