How long before offer is accepted?

S

sarah81

Guest
hi

Just looking for a bit of advice. We have an offer in on an apartment for 2 weeks now. The estate agent told us we are the highest bidder and there has been no more interest in it but the seller is still trying to make up his mind to sell.

How long can he do this? Any advice???

Thanks Sarah
 
Re: How long before offer is accepted???

Put a deadline on your offer. Might make them decide quicker!
 
hi Sarah,
this happened us last week, we were highest bidder for a week and when we put the deadline to the ea he got back and told us the vendor wanted to keep it on the market a bit longer- we then withdrew our offer. Only put the deadline in place if you're prepared to walk away when it expires.
 
We were waiting for a month! But you could try and find out at what price the vendor would accept and see if you want to do go with it...
 
Petal said:
We were waiting for a month! But you could try and find out at what price the vendor would accept and see if you want to do go with it...
Click to expand...

I would disagree. The vendor may not be getting the price he is expecting. You may be in a stronger position than you think so i would suggest holding out.

Tell the EA if you like that you offer will reduce by 5,000 for every week that goes by.

(BTW, have a look at a simmilar property in the area. Ring up that EA and suggest that you may be interested in looking at it if the price was 20,000 less. The EA's reaction may tell you whether you are in a stronger position now that when you put your deposit on your current prospective purchase a month ago. Worth a shot anyhow.)
 
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