Anxiously waiting for reply on offer

[Adognamedboo]

Viewed a house last week and put in an offer same day.
House is perfect for us but far from perfect, so offered 155 on asking price of 180.
House needs new roof, new upstairs ceiling, new boiler, fuse box, possibly rewiring, complete redecorating of all rooms included kitchen refit. I think the bathroom is the only thing that won't need replacing in the short term.

Iv had no reply from the agent and don't know what to do from here.

We are buying the property for our daughter to live in so are chain free and already have a mortgage DIP and a big deposit.

Do I call them again after the bank holiday or do I wait for them to call me? I have never bought a house this way, our home was a private sale and it's our home for life, so am very unsure of EA equitette.

Thanks

Edited to say, house is 2 bed semi which around here in good condition go for 190-200.

Does the sale price not reflect the condition of the house? How long has it been on the market? Is there much interest in it?

I submitted my offers by phone so I could gauge as much info from the estate agent as possible. My house has sold for above asking price as did the one I'm buying, so not everyone is accepting offers under if the house is fairly priced to begin with.

The agent said she doesn't agree that the sale price reflects the condition of the house, it hasn't had anything done to it since the 70s, and she was going to speak to the sellers about reducing the asking price.
There have been a few viewings but as far as I know there are no other offers.
It's only been on the market a fortnight.

If it's only been on a fortnight then there isn't much bargaining to be had at this stage. Is it a probate sale? If so, has probate been granted? If not, that will take a while so they wont be in any rush to sell. You need to know as much about the sellers situation as possible. If it's probate divided between several siblings, they will all likely want as much cash as possible.

Did you put a time limit in your offer. I always think following up a verbal offer with an email making clear when your offer is on the table till is a good idea. It applies a little pressure, stops your offer being used as leverage and means you can move on if they don’t get back to you (instead of hanging on waiting).

It's only been on a couple of weeks so they are still waiting for a better offer. Standard practice. They'll use yours as a starting point to get others to go higher.

The agent seems to have forgotten who she's working for if she's telling you she thinks the price is too high.

The agent seems to have forgotten who she's working for if she's telling you she thinks the price is too high.

Agents work for one person and one person alone - themselves. They have zero loyalty to anybody. They want the house sold quickly, they couldn't give a crap about getting the best price for the vendor, despite the old flannel they spout!

Yes it's a probate sale. I don't know what stage they are at.
I think I'll put the offer in writing then with a timescale of 2 weeks for a response, does that sound reasonable?

We aren't in a rush but don't feel right putting offers on other properties without a response on this one.

I think it would be wise to get clarification on the probate. What stage is it at? Applied, granted, or not yet even applied for? It can take ages especially if there are backlog with the probate registry or with HMRC if IHT is applicable. If you want to progress quickly this might not be the property for you.

In the past I’ve given 5 working days. Even if they don’t accept it (we ended up going to best and final) it seems to have helped move this process forward and they took us seriously as a buyer.

Alongside our offer we detailed our financial position and the contact details for our mortgage broker who could confirm our possition.

I would also make sure they know you will keep looking at other properties in the mean time.

It might take longer than normal if it's an Executors sale. Executors will have to agree and will probably gauge what any beneficiaries feel. Either way, there's nothing to stop you from phoning agent for an update and asking them to get back to you within 48 hours even if it's an update to say they need to hear back from someone.