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Property/DIY

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Original poster

Why does offering on a house have to be so stressful?!!!

23 replies

beanstalk · 13/05/2009 11:07

We put an offer in on a house we like on Monday morning, increased it Monday evening and we still don't have a yes or no. We've made a sensible offer, we're in a good position and are after a quick sale - which I know the vendor wants. But there is a mysterious cash buyer who was interested at first, then not and now is interested again. The estate agent told me yesterday that the vendor won't make any decision on ours as they are expecting the cash buyer to make a higher offer. How do they know? Is this a ruse by the agent to get us to increase? It's so frustrating!!!! I hate not being able to have a straight conversation - we've tried and get different answers each time. I'm resigning myself to not getting this house but I swear buying a house would be easier if we didn't have to deal with estate agents!

OP posts:

Fimbo · 13/05/2009 11:13

It is crap. When we sold our house in 2007, the estate agents forgot to ring a couple to tell them it was ok for the time they wanted to come to do a 2nd viewing (I was doing the viewing myself). The couple had an odd name and luckily were in the phone book, they were quite chatty and friendly on the first viewing, so I took a risk and phoned them to find out why they hadn't turned up. That is when I then found out the EA hadn't called them to confirm! The couple came the next day and then we negotiate a price between us and left the EA out of it!

Good luck I hope you get the house.

PestoDrizzleMonster · 13/05/2009 11:18

Stay calm, don't increase your offer & don't call again.

Let 'em sweat

wombleprincess · 13/05/2009 11:18

ahhh the mysterious cash buyer. they are very prolific... seem to crop up in most house sales at some point... Stick with it until your offer is outright refused, and then think about putting in a higher offer if that is what you want to do.

If there really is a cash buyer and if you are in a less advantageous position then they will probably choose them anyway, unless you make a seriously higher offer.

Original poster

beanstalk · 13/05/2009 11:37

Yes, DH has been dealing with the agent (luckily as he can stay calmer than me ) and he has told me that he is not calling the agent today. Thank god he can be cool about it, I am a bundle of nerves! I've not slept well since Sunday night which is not good at 20 weeks pregnant. There really should be tighter laws on how estate agents operate don't you think?
womble - that is my reasoning, if it is true then we can't compete with a cash buyer, if not then Pesto's approach is right. It's just so hard not to think about it in the meantime!

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wombleprincess · 13/05/2009 11:44

20 weeks.. we moved at 37 so i know how you feel! keep calm, whatever will be will be...easier said than done i know.. chocolate is always useful!

ouchitreallyhurts · 13/05/2009 11:47

definately chocolate - my life saver right now!

the day we went for our last viewing (and were planning to put our offer in having just accepted an offer on our own) a mysterious buyer appeared there too, in fact MB had put in an offer "but have to sort out a mortgage so aren't in quite as good a position as you Mr and Mrs Ouch...".

My coolasacucumber hubby said "oh well, whatever will be will be - we've a few other houses we are interested in anyway..."

funnily enough, MB disappeared and our offer was accepted...

Original poster

beanstalk · 13/05/2009 12:05

Ouch...I am not surprised by that, it's so unscrupulous of the agents isn't it? I am hoping ours will turn out that way, which I suppose is why I feel stressed, up and down with it.
Womble - that was cutting it a bit fine! I was hoping to be moved a bit sooner than that!

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YorkshireRose · 13/05/2009 12:06

Get out and see more houses. Tell the estate agent you are doing this. Remind yourself (and the ES) that this is not the only house in the world!

Really, with the state of the housing market at the moment you are in a very strong position. I bet the cash buyer does not exist.

And if they continue to play silly buggers, withdraw the offer. I bet that will make them jump to attention!

Original poster

beanstalk · 13/05/2009 12:16

YorkshireRose - DH has just booked to see another house with the same agent! Yes we are in a strong position but the trouble is there are few (if any) houses in the location we want coming up for sale.

We've just had a response back from the vendor - our 2nd offer is not high enough and she is waiting to see what comes of some viewings on the house yesterday/today. We now know the figure she will accept and it is 5k more than our offer. So I think we are going to view the other house tomorrow morning and if we don't like it we will go into the office and raise by the 5k as our final offer. She has been renting the property out as an investment so she is not as desperate to sell as we are to buy unfortunately.

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YorkshireRose · 13/05/2009 12:39

Don't let vendor know you are desperate though! Arranging another viewing will have sent the right message. And sit tight to see what the result of these viewings is. They may well get no interest.

I know it is hard when you think you have found your dream house, but you must never get so fixated on one house that you let reason go out of the window. Make sure that £5k over your present offer is not over the top. There really will always be another one.

And the rentals market is not so great at the moment so maybe the vendors tenant is moving out? That may be the reason they have decided to sell in this market. TBH most owners of investment properties would be sitting tight at the moment unless they have a pressing reason to sell.

Original poster

beanstalk · 13/05/2009 12:59

"Reason", what's that ?

Seriously though, we are not contacting them today, they called us with the update and so we are sitting tight until after the viewing tomorrow. I hear what you're saying about there being another one, but it is hard when there is very little on the market and with summer approaching not much prospect of an influx of new properties. Although it only takes one I suppose! I think as you say we need to be sure we are not overpaying.

She did lose her tenant, I don't know much about the rentals market atm, are landlords struggling to get tenants? I would have expected there to be more people renting in the current climate? But then I guess there are more people letting out houses instead of selling? Oh I don't know!!

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YorkshireRose · 13/05/2009 13:12

I know, bean, it's hard, but stay strong!

Aha, has lost tenant! Private rentals market is really hard atm as not so many expats working in the city at the moment. Also glut of people renting rather than selling. I have friends with investment properties who have had serious problems recently. So could have problems getting new tenant. So you are in a stronger position than you think!

Original poster

beanstalk · 13/05/2009 13:21

I think cyber wine is ok to drink in pregnancy?

OK, fingers crossed for tomorrow then. Should have known really, the house we've offered on is number 13 and today's date being the 13th too!

OP posts:

YorkshireRose · 13/05/2009 13:23

yep you can have bottles of that stuff!

Good luck and stay strong!

goldenpeach · 13/05/2009 17:03

We made an increased offer three weeks ago, still no reply.

Sorrento · 13/05/2009 23:29

They will take one look at your bump and know you're desperate so honestly let your non hormonal DH handle things from here on is my advice and I bet there is no cash buyer.
I'd casually phone the agent and ask him to show you other properties to keep your options open as these vendors are taking their time.

Original poster

beanstalk · 18/05/2009 12:24

Thanks for all your replies, the cash buyer did exist and has offered asking price so we lost out. Bugger. No other houses that match our criteria either so have just been advised that we may lose our buyer as they don't want to wait around too long. How annoying

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ouchitreallyhurts · 18/05/2009 14:29

beanstalk I am sorry
could you rent till something comes up?

Original poster

beanstalk · 18/05/2009 16:38

Thanks ouch. Well that is what our agent is trying to persuade us to do, but we're just not sure. Moving twice with a 2 year old and a baby on the way - I'm 20 weeks pg - is far from ideal. Also the finances are tight and I am worried that if we rent and prices start to rise before we find somewhere we could be worse off. I know most MNers seem to think prices are going to drop some more but the press says differently. I don't know what to do!

We have booked some second viewings on houses we had ruled out, just to make sure. I'm hoping I can see them in a new light now that our favourite one is out of the running.

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MintyyAeroEgg · 18/05/2009 16:53

What about privately leafleting the types of house you are interested in? There has been a thread on Mumsnet on this recently, in the last day or so, and people seem to have been quite successful with it. Would be a shame to lose your buyer.

fruitstick · 18/05/2009 16:54

We sold our house and, on the day of exchange our vendor decided not to sell after all . I had a 2 year old and a 3 week old baby and we had 3 weeks until we completed on our house sale to find somewhere to rent. Cue much weeping on my part.

We did it and paid a removals company to pack and move evetything for us. The packing was an extra £250 and was the best money I have ever spent!

we are now renting in the area we want to buy and it puts us in a great position when viewing properties and it is fine honestly! 2 year old took a bit of time to adjust but would have done anyway with a new baby and actually renting is quite nice. Most of our stuff is still in boxes in the loft, ready to move again.

Do it do it do it, you never know when another buyer might come along!

Original poster

beanstalk · 19/05/2009 10:59

fruitstick - that sounds a nightmare! But glad you are happy now. What happens if your dream house came up one week after moving into rented though - aren't you then tied to renting for a period of time?

OP posts:

fruitstick · 19/05/2009 20:19

We figure that the way things are, it could take 3 months to complete anyway.

If you're tied into a 6 months contract you are unlikely to waste more than 3 months which (I have no idea where you would be renting) would in our case be about £3,000 - which is nothing when you consider how much your spending on the house.

We have seen a house that we like but it needs work so we figure, if it all goes through, we could carry on renting while we do the messy bits of the work.

All sounds very straight forward doesn't it

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