Just wondering what people think. We put in an offer on a house about a month ago and after some negotiations we have agreed on a price. Well the estate agent said they wanted to accept the offer. However, on the same day they reduced the price of the house by 50000 on daft and have been delaying processing the sale further. We were told that they were meeting with their bank to see if they would let them accept our offer. We took this in good faith and gave things a few more days (that was last week). So on Monday I phoned the estate agent again and he said that he was just speaking with them and had some information to give them and would phone me back. He didnt return my call on Monday so I phoned him again on Tuesday and he said that he would call me back which he did that evening. He said that the family needed to sort things with their bank for buying the house they wanted to move to and that they had a form to drop into the bank which they had forgotten but that they definately wanted to accept the offer. I told estate agent that we would put in an offer on another house if he wasnt interested and explained our current situation as my husband and I are living with my mother and grandmother with our new baby which is far from ideal.
Now this morning the house price has been dropped on estate agents website by another 10000-which brings the price down to just 5000 more than what we are offering. I feel that the offer we have agreed on is very good as the house has been on the market for 2 1/2-3 years.
Just wondering what people think- do you think it could be an issue with the bank or do you think the estate agent is trying to delay and get more people interested? Cant understand why with the market the way it is and when asking price is now only 5000 more than what we offering? We are not in a chain and mortgage approved?? Any advice on how to proceed??
Thanks for all the replies.
MF1, we did initially believe that maybe it was something to do with the bank but why do they keep reducing the price online since agreeing a price with us. We feel that they are trying to buy time and see if they get more offers. We just want to secure the house and the amount that we have agreed is now only 5000 less than the current advertised price. We feel that it is quite silly to not secure the deal for the sake of 5000.
Supposedly they were meeting their bank last Friday to see if they could accept offer and then we were told on Monday that they had to submit another form but that yes they wanted to accept offer. Supposedly this form was submitted yesterday and I was told that I would get a call yesterday or today. But the estate agent nevers contacts me to inform me what happening when he says he will- I have to chase him every day!! No call again today so I called him. He was busy again and had been in meetings again so he was going to ring vendor and ring me back but yet again no call came. And today the house price was dropped on the website again- I mean why bother doing this if they want to accept our offer???
Mercman, thanks for the comments. We feel it is quite silly. We have seen another house but we were hoping that this one might work out as it is nearer to family.
Bluespud- we may need to start doing that.
Foxylady- we told him that we had seen another house and that we needed to know that we had a house purchase rolling before Christmas and that we would put in an offer on that house if nothing was going to happen with this one. But maybe we need to be more agressive and set a specific time limit.
Thanks again for the comments
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