Hi everyone,
I'm a first home buyer and have made an offer on an investment property.
My first offer was 88% of the asking price. I made this offer on Monday.
On Tuesday the real estate agent called and said they had another offer coming in and a possible third. This seemed a little odd to me because the property has been on the market for 3 months with only one other offer. But I said ok that's cool. I was asked to increase my offer as they would only take the highest price and I said no, the original offer is it.
Since then I've been told the seller as rejected the other two offers based on their finance and that the seller will counter offer me. That was on Tuesday. So I've been waiting 2+ days for this counter offer to come through.
My questions are:
1. Can I withdraw my application? I'm annoyed that the seller/real estate are keeping me hanging. I need to know ASAP. Surely the seller knows the price they want. I'm not going any higher than what I want to pay so it doesn't really matter what they offer I will only counter to within my budget.
2. How long is a normal waiting time to wait for a counter offer?
3. Should I call up the real estate to ask what's going on or does this make me seem desperate? (I'm not, just wanting to speed the whole process up as I can imagine there will be another counter offer after this one).
Any suggestions are welcomed! Thanks