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Original poster

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11 replies

Pringle2223 · 20/04/2024 20:14

Looking for a bit of advice;

We viewed a property a few days ago and made an offer 10k below asking price. We’ve steadily increased the offer after rejections- the last offer was £2500 below asking price. The seller said they want to go ahead with the viewing they have lined up in a few days before they give us an answer. We then offered the asking price- but they still said they want to go ahead with these viewings first. Is this normal? Is there a reason they won’t accept the asking price now?

this was our first time making an offer on anywhere so is there anything we need to do different going forward?

thanks

OP posts:
Fleurty · 20/04/2024 20:43

In my experience this type of seller is out to get as much money as possible and will have no qualms about gazumping you after you've spent thousands on solicitor fees. They're waiting for the other viewings in the hope of starting a bidding war between you and the other buyers so they get more than the house is worth.

How much do you want the house? I would walk away at this stage unless you think the house is worth more than the asking price. At the very least don't go back with another offer, you're basically just telling them you're going to play their game. If they get no more offers then they might come back to accept your offer but be aware they're likely to carry on playing games and being difficult.

BlueScrunchies · 20/04/2024 20:47

Yeah it’s normal, I got gazumped after having an offer accepted! People hold out for the most money they can get which is understandable from their point of view.

they have seen you keep going up so are trying to squeeze every penny they can out of you. Hang fire for now and see what happens. If you don’t get that particular house, don’t be too disheartened. You may be surprised by the next one you find. The place I got in the end was way better than the one we offered on initially.

fromtheshires · 20/04/2024 21:01

Well this makes a change from the usual we are FTB how much should we offer or this totally normal non scary survey has cone back how much should we ask off thread. Thank you for not being one of those posters. Now to answer your question....

If someone offered me asking price I would accept and take no further viewings. A bird in the hand and all that.

Unless this house has been on under a week and theres a lot of interest it sounds like they are out for money and will drop you if they get a better offer.

If for whatever reason you decide to buy this house (personally I would walk away and find somewhere else) and they accept I would make it a condition it is removed from the market immediately and no additional viewings are to take place. If they don't agree then withdraw your offer. I would never go over asking on any property. Especially in this market.

WalkingWombat · 20/04/2024 21:22

Keep looking and hopefully you will find something better, those seller would deserve that.

LetsGoRoundTheRoundabout · 20/04/2024 21:25

How long has it been on the market? If not long, then they’re probably thinking they have loads of interest, they’ll try to get an offer over asking price.

I would consider it fairly normal to proceed with already booked viewings even if you’ve had an offer.

Feelingstrange2 · 20/04/2024 21:28

I'm guessing you've fallen in love with this property? Unfortunately you've shown your hand on it.

They will see if they can get another interested party and then try to increase as much as they can, maybe with two bidders going to "best and final" offers.

If the next viewing doesn't get an offer they will hopefully accept your full asking offer.

However, if you aren't in love with this, I'd pull out and carry on looking. It's got all the hallmarks of potential for issues during the sales process.

Original poster
Pringle2223 · 20/04/2024 23:03

fromtheshires · 20/04/2024 21:01

Well this makes a change from the usual we are FTB how much should we offer or this totally normal non scary survey has cone back how much should we ask off thread. Thank you for not being one of those posters. Now to answer your question....

If someone offered me asking price I would accept and take no further viewings. A bird in the hand and all that.

Unless this house has been on under a week and theres a lot of interest it sounds like they are out for money and will drop you if they get a better offer.

If for whatever reason you decide to buy this house (personally I would walk away and find somewhere else) and they accept I would make it a condition it is removed from the market immediately and no additional viewings are to take place. If they don't agree then withdraw your offer. I would never go over asking on any property. Especially in this market.

This is all completely new to me so I imagine I’ll be asking a lot of questions 😂 x

OP posts:
Original poster
Pringle2223 · 20/04/2024 23:05

Feelingstrange2 · 20/04/2024 21:28

I'm guessing you've fallen in love with this property? Unfortunately you've shown your hand on it.

They will see if they can get another interested party and then try to increase as much as they can, maybe with two bidders going to "best and final" offers.

If the next viewing doesn't get an offer they will hopefully accept your full asking offer.

However, if you aren't in love with this, I'd pull out and carry on looking. It's got all the hallmarks of potential for issues during the sales process.

What hallmarks for issues do you think it has? So I know what to look out for in future? X

OP posts:
Original poster
Pringle2223 · 20/04/2024 23:07

LetsGoRoundTheRoundabout · 20/04/2024 21:25

How long has it been on the market? If not long, then they’re probably thinking they have loads of interest, they’ll try to get an offer over asking price.

I would consider it fairly normal to proceed with already booked viewings even if you’ve had an offer.

It’s been on a month. They’d already had an offer (a few thousand over asking price) when we viewed it but the agent said they’d not be able to contact the buyer since they made the offer x

OP posts:
LetsGoRoundTheRoundabout · 20/04/2024 23:09

Pringle2223 · 20/04/2024 23:07

It’s been on a month. They’d already had an offer (a few thousand over asking price) when we viewed it but the agent said they’d not be able to contact the buyer since they made the offer x

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There you go then - I expect it’s going to be hard for them to accept an offer any lower than that!

Feelingstrange2 · 20/04/2024 23:10

Previous posters already cover the potential for issues.

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