Jump to content
House Price Crash Forum
Sign in to follow this  
bendy

Open Offers Listing

Recommended Posts

I'm half arsesedly in the market for buying at the moment (please refrain from crash crash crash posts, I won't go into detail but I was on here in 2004 before my 2007 re-reg and if I'd have lied like some in 2002 would be part of the HPI crowd no doubt, but hey ho).

Anyway I'm due to view a property and have been told that if (we) make an offer then it will stay on the market for further viewings (TBF to the EA they do state that this is something that they don't no under normal circumstances if an offer is accepted and has been proved to me when I tried to book a viewing that had listed and 'sold SSTC' in the same day or 2).

So just wondered if anyone else had any experience of this? Have been viewing for roughly a year now (prices static/marginal 2-3% decreases around here) so I'm not in any rush, I assume I'd be well within my rights to say to EA that if I do make an offer and later find a place that I think is better value then I'll pull out of the contract leaving the seller ga******ed or whatever the crappy terminology is and also be able to say to the same EA that I'd do that exact scenario even if the better value listing was with them?

Mods - please move to buying and selling after a few days cheers.

Share this post


Link to post
Share on other sites

I'm half arsesedly in the market for buying at the moment (please refrain from crash crash crash posts, I won't go into detail but I was on here in 2004 before my 2007 re-reg and if I'd have lied like some in 2002 would be part of the HPI crowd no doubt, but hey ho).

Anyway I'm due to view a property and have been told that if (we) make an offer then it will stay on the market for further viewings (TBF to the EA they do state that this is something that they don't no under normal circumstances if an offer is accepted and has been proved to me when I tried to book a viewing that had listed and 'sold SSTC' in the same day or 2).

So just wondered if anyone else had any experience of this? Have been viewing for roughly a year now (prices static/marginal 2-3% decreases around here) so I'm not in any rush, I assume I'd be well within my rights to say to EA that if I do make an offer and later find a place that I think is better value then I'll pull out of the contract leaving the seller ga******ed or whatever the crappy terminology is and also be able to say to the same EA that I'd do that exact scenario even if the better value listing was with them?

Mods - please move to buying and selling after a few days cheers.

How long has this place been on the market? If it's been on a while, i wouldn't worry too much as its unlikely you'll have another offer come in.

My theory: they are doing this because they are seeing lots of failed sales. Maybe use property bee to see if the owners of this particular property have experienced such an occurrence. Might explain the mindset.

Assuming you are in England or Wales, then you can pull out right until you exchange contracts, so you are in control.

We had this happen to us in 2007 when we last bought. Elderly woman in crappy house needing full redecoration holding out for an unrealistic asking price. I was naiive back then, so i paid it. Then she got a higher offer some weeks later, after we'd had the surveys done. EA said the woman "just wanted what the house was worth" and asked if we would be prepared to pay £20k more. I told them most emphatically not (my wife was keener on paying more than i was).

Long and short, the other buyer had seen that it was a corner plot and made a higher offer without realising there was a covenant preventing building on it. Offer withdrawn a week later. By which time the lady concerned had found herself a retirement bungalow that she was "in love with" whined the EA, saying that she would "sell it it to us for our original offer if we could move quickly, but you would have to commit to moving quickly". In my memory, i laughed in the EA's face, but in truth that might be a trick of the mind.

And the EA actually got a little narky when i told her that we'd offered on another.

House sold a year later for less than we offered.

Share this post


Link to post
Share on other sites

Not sure if repo - would the EA disclose, not on market for long but in need of 'modernisation' (hate that term).

Cheers nice to know what card to play if I get messed around, as I say the market is going nowhere but possibly down no matter what the media spin (I do however think that TPTB are trying to maintain this as an equilibrium :( )

Share this post


Link to post
Share on other sites

Not sure if repo - would the EA disclose, not on market for long but in need of 'modernisation' (hate that term).

Cheers nice to know what card to play if I get messed around, as I say the market is going nowhere but possibly down no matter what the media spin (I do however think that TPTB are trying to maintain this as an equilibrium :( )

Proberley not ,but there are ways of finding out`ish

Search for the last date of sale here https://houseprices.io/

Is it being sold with vacant possession ? and empty of furnishings if so its odds on its a repo or a probate sale

You can also pay for a search on the Land Registry http://www.landregistry-titledeeds.co.uk/?gclid=CPTm8Iayg8cCFSMewwodbO0MIw can`t rember which one but one will provide the details of the bank the mortgage is held with if the property is a repo

Could be just the EA playing games

Share this post


Link to post
Share on other sites

I'll check all this if I think it's worth an offer - I know to be my home it'd need a wall knocking through (fortuantely have someone who can tell how easily doable this is from floorplans alone). I would think it's maybe an inherited property rather than a repo but I haven't seen it yet so can't confirm.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   65 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.