Does it sound like they can't get the fund together?

[homeandstay]

We offered on a house about 6 weeks ago however they declined due to going with other buyers (higher offer) although they were not proceedable.

The other buyers ended up putting their house through the auction this Monday just gone and have sold.

Estate agents rings us today and asks if we're still interested because things aren't moving and they require a further DIP.

We viewed the house again and still love it however vendor said to us there's still a chance they're going to sell to said buyers but will go with us if things don't progress with then in a week.

The only thing I can think of is they've sold for much less at auction and trying to get more mortgage.

Trying not to get my hopes up but need to be realistic too.

Any thoughts?

Honestly it sounds like they're dicking you around and I would walk away. I know it's hard when you love the house but it feels like they're using you and will mess you about.

Are you in a position to wait another week? If so, I'd say to them that you are ready to proceed, you have finance in place and you require a decision by whatever date. Maybe by noon a week on Monday.

@invisiblecat
Yes, unfortunately we've not found anything else either.
The vendors have found a house they want to buy but are hell bent on sticking with these buyers who don't seem to be proceedable, don't know what to make of it.

It could be down to the estate agent persuading them to do that. Especially if there is some sort of commission in it for arranging that buyer's mortgage.

Be mindful as buyers/estate agent could be baiting you to put a higher offer to match the other buyer

I'd say that any offer is now conditional on the house coming off the market and if they refuse that, I'd withdraw the offer.

These are not the sort of people I would want to do business with no matter how nice their house is.

I think the EA was doing a good job for their client in finding a plan B option, they must have a reason to think that plan A may not work out.

I would just wait a week or so and see how this story unravels. There is certainly a chance the original sale will fall through and you will get another opportunity to offer on this house.

Thanks all for getting back to me.

From what I've gathered from the estate agent is that they built a 'good' relationship with buyers A and don't want to let them down.

Our offer is significantly less 'apparently' but I need to speak to the estate agents today because we can up this slightly but will say I need to know by next week or I'll withdraw my offer.

Don't up the offer whatever you do. This is what they want. Stick to your guns. Why would they even consider you if your offer is "significantly" less that the others, it's because no one else is interested in it. Give them a week. Also loom at other properties with the same agent, that may concentrate their mind a bit.

Yeah I wouldn’t be increasing my offer until the house is officially for sale again.

I wouldn’t increase my offer either, however I would stay in the game. I think my message back to the agent would be, we’re still looking, if we haven’t offered on anything else we’d still be interested. No point cutting off your nose to spite your face etc.

Absolutely do not up your offer when the house isn’t actually up for sale. Tell them you’re still interested but also viewing other properties and invite them to get back in touch if the other buyer falls through.

Ok thanks for the advice, I won't up our offer, will see how it goes in the next week.