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Offers On A House

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  • 25-10-2003 10:34pm
    #1
    MrHappyChap
    Closed Accounts Posts: 20 ✭


    I recently telephoned about a house which is for sale, and apparently there is an offer on it which has been on it for 3 months.

    What exactly does this mean? When someone makes an offer, does the seller not usually inform the auctioneer relatively quickly whether they wish to accept it or not? I wonder what has happened in this case; would the seller have simply said I'll wait and see if another offer is made; - without actually rejecting the offer which has been made.

    So does this mean that when someone makes an offer, they may not get a definite "yes" or "no" straight away?


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    #2
    eth0_
    Registered Users Posts: 10,846 ✭✭✭✭eth0_


    Originally posted by MrHappyChap
    I recently telephoned about a house which is for sale, and apparently there is an offer on it which has been on it for 3 months.

    What exactly does this mean? When someone makes an offer, does the seller not usually inform the auctioneer relatively quickly whether they wish to accept it or not? I wonder what has happened in this case; would the seller have simply said I'll wait and see if another offer is made; - without actually rejecting the offer which has been made.

    They may have agreed to sell to one party, who is now having a delay in selling/receiving payment for their own house. Just an example.

    As for waiting for other offers....I rang up an estate agent to arrange a viewing on a house during the summer - there was no 'sale agreed' on the board - the agent said 'Sorry, we just sent details of the buyer's offer to the seller's solicitor this morning....but I can call the seller and see if we can arrange a viewing for you?'

    Basically, even with anti-gazumping laws, making an offer on a house is never a guarantee. If someone comes in with a higher offer, you're fscked.

    The house I was interested in is still 'sale agreed', nearly 4 months later. sigh.


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    #3
    Victor
    Registered Users Posts: 78,278 ✭✭✭✭Victor


    Originally posted by MrHappyChap
    I recently telephoned about a house which is for sale, and apparently there is an offer on it which has been on it for 3 months.
    Sounds like one of:
    (a) Seller wants more
    (b) Buyer is still trying to sort out money
    (c) Seller can't sort out contract (title, planning permissions, etc.)

    Contractually the offerer could reject the contract (everythign will have "contract denied2 on it anyway) if the seller has sat on it for 3 months.


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    #4
    MrHappyChap
    Closed Accounts Posts: 20 ✭MrHappyChap


    So I guess "normally" when someone makes an offer, they would expect to hear back either "yes" or "no" within a day or so?

    If making a lower-than-asking-price offer, and the seller rejects (but he has no other offers), can you tell the auctioneer that the offer is still there if the seller changes his mind?

    Maybe this is a possibility of what has happened. Maybe the prospective purchaser has said "here's my offer", the seller has then rejected it but has no further offers; and at the time of rejection the buyer said to the auctioneer that the offer is still there if the seller changes his mind...


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    #5
    Victor
    Registered Users Posts: 78,278 ✭✭✭✭Victor


    Originally posted by MrHappyChap
    So I guess "normally" when someone makes an offer, they would expect to hear back either "yes" or "no" within a day or so?
    Well within a few days to a week, being "urgent" can send the wrong messages. Although you can end up with it going to a Dutch auction with offer and counter-offer every few minutes.


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