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Old 26.05.2020, 12:30
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Spinal Spinal is offline
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Re: House sold before even viewed it

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The potential buyer doesnt have to wait for me, they are waiting until the seller has received all bids. If you want the house, you are not going to pull out because you have to wait a few days.

But hey the weird and strange system here is not going to change. Roll on to the next one..
That's where you're wrong. When I bought my last property in London, I made bids on three properties. Each bid came with the notice that I had also bid on other properties, an the first seller to accept my offer would get the house. I.E. Any delay, negotiation, or haggling may result in losing my bid.

One seller accepted my offer immediately, resulting in withdrawing my offers on the other houses the same day. Why should I wait for a seller to mess around with other potential buyers? I'm a cash buyer (i.e. no mortgage, no loans) - I made the offer and expect a quick response. Saying you need to wait for other buyers just tells me that you are willing to jeopardise the transaction if something better comes along. (Which happens as well, after an offer is made - this isn't legally binding until the paperwork is done. I've had a seller withdraw once saying someone else bid higher, even after we agreed - again in the UK).

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As I said if you were selling a house, would you want to get the most you could for it under normal circumstances?

Its a good system for buyers
Would you take asking price +20% now, or wait to see what happens with potential other buyers who may/may not even want the house?
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