Quick Answer: Can You Ask For Proof Of Another Offer On A House?

How long after appraisal do you close?

2 weeksTypically, a lender will be working on your approval while the appraisal is complete.

So when the appraisal comes in, the lender should be more or less ready to go.

It shouldn’t take longer than 2 weeks to close after the appraisal is done..

How do I stop being gazumped?

What can you do to avoid gazumping?Act quickly. … Obtain a mortgage in principle. … Find a conveyancing solicitor in advance. … Line your surveyor up quickly. … Get the property off the market. … Get a lock in agreement. … Get insurance.

What is a cheeky offer on a house?

It’s arguable that any offer of more than 10% discount off the asking price could be considered a cheeky offer. The level of ‘cheek’ depends on who the vendor is and how long their home has been on the market. But so long as you’re prepared for them to say no to your offer, it’s worth taking a punt with a cheeky offer.

Should I pay full asking price for a house?

But most people, if asked, will say they do not want to negotiate and sometimes feel uncomfortable offering to pay less than asking price. … It doesn’t matter if it’s a newer home or older home; all home prices are negotiable. On the one hand, you don’t want to pay more than you need to pay.

How much should I offer under asking price?

If the home is truly asking for more than what it is worth, then start looking at the price you consider acceptable. While 5% to 10% is often deemed a reasonable discount, some people have offered up to 25% less and seen their offer accepted.

What happens if two offers are made on a house?

When there are multiple offers, the seller typically takes one of three actions: Accepts the most favorable offer. Counters all offers to give everyone a chance to come back with a better bid in an effort to get the best price and terms.

Can estate agents lie about other offers?

When an estate agent markets a home they’re legally obliged to treat both buyers and sellers fairly by following the Code of Practice for Residential Estate Agents. This means they should not lie about offers to any party involved.

Should you offer the asking price?

There are other reasons for going in with an offer lower than the seller’s asking price. … Remember that the asking price is not set in stone. If you feel as though the property is worth less than what the seller is asking, go in lower, but be fair. Offering half isn’t likely to go down well!

Can seller accept another offer after accepting?

Only after the first contract is clearly over can the seller accept the second offer. … A: Offers from other buyers can be accepted by the seller even if the property is under contract. The seller may or may not be able to break the first buyer’s contract and successfully sell to the higher bidder.

Why do Realtors not want buyers and sellers to meet?

Why is it that agents are so reluctant to let buyers and sellers get together? Unlike most business deals, the sale of a home can get very personal and real estate agents are nervous about the parties dealing with each other. That’s because most agents have seen what can go wrong when buyers and sellers meet directly.

How do you make an offer below asking price?

Consider making an offer that hovers 25% below the asking price—and see what happens.Stay aware of current market conditions. … Be respectful of sellers. … Have your agent contact the listing agent. … Have your financing in order. … Eliminate as many contingencies as possible.

Is it a conflict of interest for a Realtor to represent buyer and seller?

In the real estate biz, one agent representing both the seller and the buyer is called dual agency. Although it’s legal in some states, many real estate agents—and house hunters, too—see dual agency as a conflict of interest.

Can a seller look at multiple offers?

Sellers can accept the “best” offer; they can inform all potential purchasers that other offers are “on the table”; they can “counter” one offer while putting the other offers to the side awaiting a decision on the counter-offer; or they can “counter” one offer and reject the others.

Can a listing agent tell you about other offers?

Your agent can be certain that if a listing agent says there are offers on a house, there are really offers. What you want to know as a buyer is what the other offers are. Unfortunately, listing agents won’t tell your buyer agent what those other offers are.

Do you have to disclose multiple offers?

Whether it is legal or not to tell the Buyers how much the competing offers actually are, it may be simply unethical to disclose the contents of competing offers to others. … Instead, ask all Buyers to bring back their best offer.

Can I still view a house under offer?

Under offer (UO) is also used by some Estate Agents to indicate that an offer has been made, but not yet accepted. You can still enquire about an Sold STC or UO property as the sale is not complete until the signed contracts are exchanged. Technically the property is still available.

Can buyers and sellers talk to each other?

As a general rule it certainly is not a good idea for a buyer and seller to talk directly with each other during negotiations. … Good communications between the buyer and seller are important, and that also means that both Realtors need to be good communicators, too.