What happens when you get a bid accepted for a house.

[amsbam1]

We are currently bidding on a house and the other bidder has just dropped out. The estate agent now wants us to provide the booking deposit on Monday. We would like to wait until Tuesday to provide this as we are bidding on another house and want to see if the other bidder comes back and they have until Monday to do this.

Do you think it is ok to ask the Estate agent to wait until Tuesday for us to pay our booking deposit?

 

[mathepac]

Tell him you'll pay the deposit on Tuesday

 

[Trustmeh]

This. Love it. I have multi bidders in my sale... thanks for providing this info.

I will instruct my auctioneer to ask bidder #1 and #2 first one that returns with deposit gets house even if #2 is lower bidder.

 

[Leo]

This. Love it. I have multi bidders in my sale... thanks for providing this info.

I will instruct my auctioneer to ask bidder #1 and #2 first one that returns with deposit gets house even if #2 is lower bidder.

Just note that ability to come up with the deposit quickly doesn't mean they'll be able to close more quickly...

 

[Joe_90]

A booking deposit paid to an auctioneer provides limited protection to both sides.

A signed contract and contract deposit is where you need to be to have comfort.