waiting for counter offer - to call or not to call?

[Allgood]

Hi guys,

I've put an offer in on a property that I hope will become IP 4. Put an offer in yesterday afternoon and explained how I came to that figure (nearby sales etc).

I feel like I developed a pretty good rapport with the agent (its their job to make us think we're besties, right! )

The property is in the hands of the bank so she said sh'ed talk to the bank this morning and let me know ASAP, but so far I've heard nothing. Should I call to touch base or would I sound too keen???

It's all a bit like a first date, isn't it!

Allgood

 

[D.T.]

Give it more time

 

[Big Will]

I agree more time

 

[S.T]

Occupy yourself by looking for a better property in the interim.

 

[Jamie M]

Play it cool (I know it's hard sometimes) and wait it out a bit longer.

However - if it's a mortgagee sale, the bank might take a while to get back to the agent so the delay could be genuine....or just a sales tactic....or just a tardy REA.

Cheers

Jamie

 

[Brady]

As above would be waiting, especially with mortgage sale. Bank could take some time. Could contact the agent about a different property they have listed?

 

[Propertunity]

Once you make the offer, shut up. First one to talk after that loses.

 

[Allgood]

lol, how did I know you were all going to say that!

Patience never was one of my strengths!

Thanks for confirming what I thought I already knew

Allgood

 

[jim1964]

Hi guys, The property is in the hands of the bank

Theres the problem!!!!

 

[Allgood]

Yeah, most of my problems seem to involve banks! Usually that they give me all this money, then demand I pay it back

I agree tho, it's probably what's delaying things.

 

[westminster]

Step away from the phone

Do not call until Monday. Put the phone somewhere out of reach.

 

[Jen_PFR]

Or, you could call, and ask if there's been any progress, 'because there's another property I'm really interested in....'

 

[bumblegoodie]

or you can ask your mate to call for you.

then you will get an impression if the agent is really selling or not

 

[Allgood]

Jen, that was what I was originally thinking because she knows I was looking at a lot of other places on the same day - and it's not a lie because if i have no luck on this one, I will be going elsewhere. But I think I'll sit tight for a while.

Bumblegoodie, I'm not sure I follow?

 

[AlmostBob]

Does not this offer have a sunset
" valid only until 4pm 14 January 2015"

sunset, and an appointment with another agent at the same office to view another property, really lights a fire under agent 1. "My commission !"

 

[Allgood]

No Bob, I thought it would be useless in dealing with a bank, however in hindsight...

 

[Propertunity]

Very often, in my experience, if it is now "with the bank", then it is not just the bank who gets involved in the decision making process, it can also be the Mortgage Insurer (who might be about to be hit with a claim).

Time & patience is required. Banks don't normally get excited by offers with time limits, they move slowly.

 

[Corey Batt]

As others have mentioned, give it a bit more time. The behemoth's have quite slow processes, so you may be waiting a while!

Keep researching other properties in the meantime, you might something better in the process.

 

[sanj]

Does not this offer have a sunset
" valid only until 4pm 14 January 2015"

sunset, and an appointment with another agent at the same office to view another property, really lights a fire under agent 1. "My commission !"

A 24 hour offer expiry on a mortgagee sale wouldn't work imo

 

[Ed Barton]

If the agent is any good I would expect a call today or tomorrow. Even if it's just to say I've got no news.