do we accept the offer?

peri_2

Hi i have been a avid reader for a while now, but only now i have a question of my own and wonder if anyone can help?

We are selling our one bed house for £109950. we have seen a house we like for £144950. we can only afford £141000.

we dont want to loose this house as it is perfect and when i say perfect i mean prefect! we offered £140000 for this house last week and they said that if we had a buyer for ours then we could proceed (there is another person going for this house and it will be the first to get a buyer for their house) - and today we get a phone call from our EA saying that someone has sorted out their finances and can offer £103000 for ours. this is a bit low, but thought if the other house was going for £140000 then we could. so we phone the other EA to make sure that the £140000 offer still stands....and they say no! they want at least £142000!!!!

so now where do we go from here? i dont want to loose this house but i dont want to accept a low offer when we could of got more if we waited or will we ever get another offer!!!!

can someone offer and advice??

thanks

P

[Deleted User]

I'm not sure, personally I'd ask your ea (the one selling your house) for advice and ask if it is not too late to ask your buyer to give you another £2K otherwise the chain is broken. Perhaps your ea can give the other ea a call and let them sort it out for you? Or could your parents lend you £2K? You can also try to shop around for another lender, A&L are lending me more money than all the banks I tried....
Hopefully someone else will come up with better advice for you, good luck.

m00nie

personally i would ring the sellers EA and tell them you have a buyer with finances in place for yours and that 140 is your final offer, i would expect the sellers would take this and was probally aware of how keen you was so was trying to get more out of you..

both the offers on yours and theres are not really much under asking price

Robert_Sterling_3

Tell your buyer that you cannot accept less than £105,000.

Nikki

In todays market both offers are good. We've just sold our house for 155k, 5k under the asking price and bought our new house for 8k under the asking. The market is very slow here so most people are taking lower offers. We really needed the full asking price for our house, but we may not have sold it if we'd held out for it, we just had to offer less on the house we wanted. We put in an offer on another house we really liked but the offer was rejected so we walked away and found somewhere else. If you want to sell quickly it may be worth accepting, then finding somewhere else if the other people won't accept 140k, i think it's a pretty good offer. It's easy to carried away when you find something you love. We missed out on the house we really wanted(someone beat us to it)we were a bit p'd off about it but that's life. New house is just as good.

bennyboy3

Why don't you phone the vendors and explain the position you're in and see if they will accept the £140,000 on that basis. After all, you were previously told by the estate agents that the owners would accept 140k if you had an offer on your'e property. The worst they can say is no.

Even if they dont accept 140k you can test the water to see find out the minimum they'll accept.

Hope this helps