What to do

sailing

Long story short.

Sold an investment property last summer that I’ve had for a number of years (negative equity from 08 property). Finally managed to sell it.

Then put our own home property up for sale and are closing very shortly on it.

We did so to be in a position to buy our forever home. Have a nice budget and found a number of suitable properties.

Two ticked all of our boxes.

Having being a bystander in the madness of the market I’ve very quickly realised just how crazy it is out there.

Bid on a few properties but two of those we really like. Our bids were above asking, in both cases, and in both cases we are the only bidder, financed approved and not in a chain.

Neither vendor prepared to give an answer.

We had to set a deadline of close of business just before Xmas due to the local school needing an answer from us. (Country school). Deadline came and went and not even so much as a phone call from the agent. Contacted again after Xmas and he said he wasn’t back in work yet. Still no answer a week later.

Second property we bid over the asking and six weeks ago set a deadline of last Friday for an answer. Only bidder again. Again, due to a school needing an answer. ASD class required for eldest. Called agent on Friday advising that it was deadline day only to receive a text at half five to say they will be in touch next Wednesday with an update. Past our deadline.

We really are frustrated as it seems it’s a grab all you can get market out there. We have come to the decision to withdraw our bid next week if we don’t get an answer. Is this experience common at the moment in the market? These houses are not core areas.

Are we playing too hardball by setting deadlines? We would love to be flexible but can’t due to the school situation which we explained in our written bids.

Our deadlines had at least six weeks leadin times.

Very confused.

GalwayBmw

https://www.boards.ie/discussion/2058388117/what-to-do

Possibly buyers are in a lookout for a property to move to/waiting for their seller to confirm or the increment above asking didn't look overly convincing to them… It's a sellers market still - so asking about the dream price from the seller (rather than assuming the one you give them is good enough) might be a good tactic.