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Why does it take so long for a bank to reply to an offer??

  • 28-05-2012 09:15PM
    #1
    trixie2007
    Registered Users, Registered Users 2 Posts: 19 ✭


    Hi all,

    Put in a low ball offer on a house bout 4-5 weeks ago? Estate agent said bank should be back with a reply within a week but still haven't heard a thing. Why does it take so long......

    Any advice or similar situations?

    Thanks


Comments

  • #2
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    Whats is the Estate Agent saying? That is too long to hear back. I assume they have not entertained your offer, but the EA should have let you know.


  • #3
    trixie2007
    Registered Users, Registered Users 2 Posts: 19 ✭trixie2007


    Estate agent is still waiting for a reply from the bank..... he has not heard anything yet....
    I thought it was a bit long to be waiting.


  • #4
    djmcr
    Closed Accounts Posts: 237 ✭✭djmcr


    EA could be waiting to see if he gets any other offer before they turn yours down. Put a time limit on your offer, tell them that offer expires on x date.


  • #5
    trixie2007
    Registered Users, Registered Users 2 Posts: 19 ✭trixie2007


    EA is not waiting for another offer, nobody has viewed the house in two years. Why would it take soooo long from the banks side. I know they have to have meetings and stuff but it surely can't take 5 weeks........

    Any advice welcome:)


  • #6
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    No it shouldn't take that long. Tbh it sounds like the EA has not put the offer to the bank, and is waiting for a higher offer.


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  • #7
    trixie2007
    Registered Users, Registered Users 2 Posts: 19 ✭trixie2007


    EA has told me they have put offer to bank, emailed and rang them. EA even sounds annoyed with them. Could there be any other reasons??

    Cheers


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