House Offer

2scoops

Active Member
What is the acceptable level of time to wait for a response to an offer you've made to purchase a house?

Normally you hear back within a few hours.

I put an offer in 8% below the asking price on Monday, I chased it yesterday and the estate agent said these things take time we'll call you when a response has been recieved. Would you chase again today or does this seem to eager?
 

ukbootlegs

Member
It's all up to whether the estate agent can contact the vendor.

They may then what time to discuss it with a partner etc.

Just hold on I guess.
 
D

Deleted member 13294

Guest
I would expect to hear the next day at the latest.

More than 24 hours is unacceptable IMHO, and would be flagging alarms for me about how serious they are about selling, and how slow they may be during the rest of the process.
 

2scoops

Active Member
Ok so he rejected the 8% below bid, estate agent has indicated he won't go below 4%. She said there have been two higher offers in on the house but the two higher offers had come from people who still hadn't sold their house.

Would you bid at

-6%
-5%

or offer the -4% he's after?
 

Mr_Wistles

Distinguished Member
If you really want it then offer what they want.

You need to think if you lost out on this house for a couple of grand would you (a) be wound up and (b) have other houses that are almost as good to buy.

Also if they're are other people (this may be estate agent induced cobblers) then they may offer the asking.
 

DJT75

Distinguished Member
Depends how much you can afford & how much you want it.

If you're dead keen, I wouldn't play around with 6% if you're actually prepared to go to 4% yourself - if there's others interested it just give someone else the opportunity to nip in & take the house.

If you can afford it, it's not overpriced & you'd be gutted if you missed out on it - go all in with 4% lower & give them the option to take it off the market there & then with your offer - the Estate Agent would probably advise them to take it seeing as they advised you the minimum required.
 

2scoops

Active Member
I've gone in at -6% below the asking price. The estate agent sounded a bit more positive and told me she'd get right back to me.

hmmmm
 

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