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Making offer that is under current offer?

  • 15-05-2012 9:43pm
    #1
    froger
    Registered Users, Registered Users 2 Posts: 37 ✭


    Hello,

    I am currently looking at purchasing a house, but an offer has gone in that was higher than I am willing to pay for the house. However the house has not gone sale agreed yet (that was over 3 weeks ago).

    Do you think I could put in an offer that is under the current offer?.

    I am in a position to close the sale very quickly. So might put a time limit on the offer as well to try and force a decision as there are some other houses that I am keen on as well.

    Thanks.


Comments

  • #2
    DM_7
    Moderators, Sports Moderators Posts: 18,518 Mod ✭✭✭✭DM_7


    Offer it if you want too, when I was house hunting I heard we have received an offer of XX a number of times and noticed the houses were still for sale weeks/months later.

    If you have a price in mind, make an offer pointing out you can move quickly. Worst that can happen is they say no thanks.


  • #3
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    froger wrote: »
    Hello,

    I am currently looking at purchasing a house, but an offer has gone in that was higher than I am willing to pay for the house. However the house has not gone sale agreed yet (that was over 3 weeks ago).

    Do you think I could put in an offer that is under the current offer?.

    I am in a position to close the sale very quickly. So might put a time limit on the offer as well to try and force a decision as there are some other houses that I am keen on as well.

    Thanks.

    Nothing to stop you putting in a lower offer but maybe house hasn't gone sale agreed because the vendor thinks the current offer is too low??


  • #4
    zulfikarMD
    Registered Users, Registered Users 2 Posts: 318 ✭✭zulfikarMD


    froger wrote: »
    Hello,

    I am currently looking at purchasing a house, but an offer has gone in that was higher than I am willing to pay for the house. However the house has not gone sale agreed yet (that was over 3 weeks ago).

    Do you think I could put in an offer that is under the current offer?.

    I am in a position to close the sale very quickly. So might put a time limit on the offer as well to try and force a decision as there are some other houses that I am keen on as well.

    Thanks.
    You will always hear from EA that we have X offer which would be higher than your offer as OP said. You can always make an offer under current offer and ask EA to come back to you if current/higher offer falls through. I am exactly in a same situation where house has reached 9-10% off asking while my offer is turned down and still not sale agreed. Also, see same house renewing both on daft and my home regularly.


  • #5
    froger
    Registered Users, Registered Users 2 Posts: 37 ✭froger


    killers1 wrote: »
    Nothing to stop you putting in a lower offer but maybe house hasn't gone sale agreed because the vendor thinks the current offer is too low??

    Maybe, but the offer was the asking price, so they could be holding out for a bidding war :rolleyes:

    Thanks for the replies, I suppose there is no way of knowing unless I try.

    Also do you reckon I should put a time limit on the offer to try and force a move on the vendors side.


  • #6
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    froger wrote: »
    Maybe, but the offer was the asking price, so they could be holding out for a bidding war :rolleyes:

    Thanks for the replies, I suppose there is no way of knowing unless I try.

    Also do you reckon I should put a time limit on the offer to try and force a move on the vendors side.

    I would be VERY suspicious of a vendor not accepting an asking price offer in this market! Definitely go in lower, tell them your interested in a couple of different properties, your offer is valid for 1 week, take it or leave it...


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  • #7
    Mr. Loverman
    Closed Accounts Posts: 4,001 ✭✭✭Mr. Loverman


    killers1 wrote: »
    I would be VERY suspicious of a vendor not accepting an asking price offer in this market!

    I agree. It is safest to assume the EA is always lying.


  • #8
    Cathmandooo
    Registered Users, Registered Users 2 Posts: 17,324 ✭✭✭✭Cathmandooo


    Stick to your guns with the lower offer. The higher offer might be subject to those people selling a house. Do put a time limit on your offer too.


  • #9
    LouEd1000
    Registered Users, Registered Users 2 Posts: 2 ✭LouEd1000


    We had our offer accepted on a house, and received an Estate Agent letter to that effect.

    But the house is still (3 weeks later) on DAFT and still has a For Sale sign outside.


  • #10
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    LouEd1000 wrote: »
    We had our offer accepted on a house, and received an Estate Agent letter to that effect.

    But the house is still (3 weeks later) on DAFT and still has a For Sale sign outside.

    Possibly an oversight, ring the EA and tell them to mark it sale agreed particulary if you have paid a booking deposit. If it's not done within a day or two ring him back and threaten to withdraw


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