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The Property Podcast

ASK272: I’ve made an offer but not heard back – what should I do? PLUS: Should I buy the freehold?

The Property Podcast

Rob Bence & Rob Dix

Business News, Education, News, Investing, Business

4.82K Ratings

🗓️ 16 February 2021

⏱️ 8 minutes

🧾️ Download transcript

Summary

Rob & Rob are back again with another two great questions to answer. Up first we’ve got Jess.  She put in an offer on a flat and got a response from the vendor that they wanted something a bit closer to the asking price. Jess then put in a counter offer, all cash, £2,500 under the asking price.  In most cases this would be a pretty decent offer that’s likely to get snapped up with the ability to move fast on it.  However, Jess still hasn’t received an answer from the vendor. She hasn’t had her offer accepted or rejected and is questioning if he’s not a serious seller and should she just move on.  The second question this week comes from Neale who has a question about freehold. He has a one bedroom buy-to-let apartment which is one of five within the development.  It had previously been poorly managed and recently Neale and fellow landlords took over the management. The freeholder has recently indicated that they’re willing to sell the freehold to the five apartments.  All five parties are keen to proceed, but Neale wants to know if there’s any real benefit to owning part of the freehold? Will the value of the properties increase if he owned the freehold? Tune in to find out.   Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply).  Or if you prefer, click here to leave a recording via your computer instead. The next question on Ask Rob & Rob could be yours.  Have you joined us over on the Property Hub Forum yet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So get yourself over and introduce yourself. See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0

Hi, I'm Rob, and I'm Rob, and this is Ask Rob and Rob.

0:08.1

Welcome to Ask Rob and Rob, the show that's all about getting your property questions answered.

0:12.4

Today, we are not going to disappoint.

0:14.2

We've got two fine questions and two hopefully fine answers coming up for you, but before

0:18.7

we get into those, let's just have a quick recap of how you can send your own question

0:22.1

in.

0:23.1

As a voicemail by calling 013808-335 or go to PropertyHub.net, forward slash Ask and

0:31.3

leave us a message there.

0:32.7

Whatever is easiest for you, that's the exact process that Jess has followed, so let's

0:37.2

listen to her question.

0:38.4

Hey, Rob and Rob, I guess I was just after your take on a situation, I mean, I put an

0:43.9

offer forward for a flat.

0:46.2

The vendor got back to me and said he wanted a bit nearer the asking.

0:49.7

I raised it another bit, so now it's a cash offer to an half grand under the asking

0:54.9

price.

0:55.9

So it's a good offer, and still the vendor isn't getting back to me.

1:00.4

He hasn't got back with it, yes, I know, can you raise it, can you prove your finances,

1:05.8

anything.

1:06.8

So now I'm wondering, do I A move on, presuming he's just a serious seller?

1:12.1

Do I B presume the agent perhaps hasn't put the offer forward and try and contact the

1:17.8

vendor direct?

1:18.8

I've never been in this position before, you normally make your offer and it's things

...

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