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sell or pull?
joshiesaunt
Posts: 130 Forumite
Hello all
this is my first post but have seen the good advice dished out and I would welcome some.
Basically our house has been on the market in london (at £365,000) since Feb - received three offers in first week. Prior to this we rented it as we live in a rent free property (not ours). We went with ftb no chain but all fell through a month ago as they couldnt get their mortgage (EA strung us along saying mortgage agreed when it was'nt!). Now back on market with different agent for past two weeks, reduced by £20,000 and had offer today of £325,000 which we would accept but they have a one bed flat to sell so would be in a chain (EA said their flat had been on the market a long time and no takers but they are just about to substantially reduce the price).
We would now like to sell fairly quickly as we have a toddler and no space and it is a bit of hassle renting the property out and we are just breaking even. We'd like to bank the money to build up a bigger deposit for when we have to move (contract runs out in two years).
We cant afford to keep our house empty for much longer so options are; reducing again perhaps to see if anyone bites quickly or renting again but this would mean we would then have to ride this storm and stay where we are or rent on the coast (brighton - really high rents there).
sorry if this is a bit of a muddle but can anyone give any advice on best way forward?
this is my first post but have seen the good advice dished out and I would welcome some.
Basically our house has been on the market in london (at £365,000) since Feb - received three offers in first week. Prior to this we rented it as we live in a rent free property (not ours). We went with ftb no chain but all fell through a month ago as they couldnt get their mortgage (EA strung us along saying mortgage agreed when it was'nt!). Now back on market with different agent for past two weeks, reduced by £20,000 and had offer today of £325,000 which we would accept but they have a one bed flat to sell so would be in a chain (EA said their flat had been on the market a long time and no takers but they are just about to substantially reduce the price).
We would now like to sell fairly quickly as we have a toddler and no space and it is a bit of hassle renting the property out and we are just breaking even. We'd like to bank the money to build up a bigger deposit for when we have to move (contract runs out in two years).
We cant afford to keep our house empty for much longer so options are; reducing again perhaps to see if anyone bites quickly or renting again but this would mean we would then have to ride this storm and stay where we are or rent on the coast (brighton - really high rents there).
sorry if this is a bit of a muddle but can anyone give any advice on best way forward?
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Comments
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I am not sure I would go with a chain where the buyer hasn't sold, especially if I wanted a quick sale.
Ask your agent about holding an open day in your property, also ask your EA to screen buyers properly, ask your agent to ensure viewers are in a position to proceed, when I worked in EA, some vendors asked for this and it did sort the wheat from the chaff even though it hacked some people off.
Stay on top of your EA, make sure they are contacting past viewers to get feedback and if you feel like it, say to the EA to pass on that offers will be considered.
Good luck, it is unfortunately not a great market to be in at the moment....£2 Coin Savers Club (Christmas)- £86£1 Jar (Christmas)- £29Christmas Vouchers Saved: £1450 -
You've only been back on the market for two weeks with an acceptable offer, so it's not that bad.
If you don't want to keep renting it then wait. Look out for your potential purchasers' property, see what you think.Everything that is supposed to be in heaven is already here on earth.
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