Help what to do, accept offer or not

gib73

Our property has been on the market for 11 weeks now and we've had 8 viewings. We're waiting to sell and have cash before buying next property.

Our last viewer has put in a offer which is acceptable to us but their house isn't even on the market yet.

To complicate things we have had a note of interest in from a viewer nearly 10 weeks ago and they wanted to know if anybody put in an offer in. This buyer has the cash to buy and I would accept their offer even if it was slightly less than the current offer.

What should we do if the buyer with note of interest doesn't put in an offer ?

spuds_2

I would be frank with both of them. Get your estate agent to tell the old viewer that you have had some interest but would seriously consider an offer from them as they are able to proceed quickly. I would encourage the EA to get them to make an offer, even if it is a low one. Then you will know if they are serious or not.

Don't tell them what the latest offer was - if they offer less, get the EA to say, "Well, we were thinking more in the region of...".

Tell the new viewers that you would be willing to proceed at their offer price as soon as they have sold their house. I would absolutely not accept the offer - it could be months before they sell. It would not be fair to accept it and let them do a survey when realistically someone could make a cash offer on your house which you would probably want to accept.

If you are willing to rent, I would accept the cash offer even if it is a bit less than you want. You will be in a strong position to buy and lets face it, houses aren't going to go up any for quite a while. Hope this helps.

I think 8 viewings in 11 weeks is pretty good going in the current market, so your house must be keenly priced already. Good luck.

scousethife

Id take any offer made these days you have two interested people which is 3 more than every other seller!


Put together

gib73

Thanks for the reply spuds.

I never expected the viewer to put in offer and was quite surpised when they did as it puts us in a difficult position. We're not even viewing any properties yet !

Going to contact EA first thing in the morning to say that offer is acceptable once they have sold their property.

Fingers crossed that other potential buyer put's in reasonable offer.

gib73

Thanks for the reply scousethife

Suppose it comes whether we accept the offer or not comes down to being a pessimist or a optimist.

I was kind of thinking that if the original viewer decided against putting in an offer should we accept the one and only offer.

I kind of think that we are not turning down their offer as it is accetable but they really need to sell their house first and if they are really interested in buying then they well sell first and hope our house is still available.

I suppose we are not tied in to buying a new house and do'nt have a real urgency to move so could accept the offer and review the move in date until they sell their property.

In for sleepness night tonight thinking about all this !

dander

You can accept the offer in principle. Tell, them that yes, you'd be happy to sell to them at that price, but that you can't take your house off the market or give them any kind of exclusivity until they are proceedable.

Then make sure that the other party knows you've had an offer, it may be the kick they need to actually make an offer.

Remember that although it's nice to get offers, when the buyer hasn't even got theirs on the market, it's a fairly worthless offer to you. You don't know if or when they'll sell and be able to proceed with your house, and you don't know what price they'll get and whether they'll be able to actually pay the price they've offered you.

Davesnave

We had an attractive offer from non-proceedable buyers, and another for £15k less from someone SSTC. We didn't think too hard about what to do. The 'bird in the hand' maxim has never been more appropriate......except that even those fly off at the moment!

Dander's post above says it all.

sandir_2

I would never take the house off the market just because you've had an offer. Remember that estate agents always talk things up and you really need to speak with the buyer yourself - personally I would suggest asking any serious buyer if you could exchange phone numbers and keep in touch about progress frankly without any estate agent gloss coming between you. Keep the house on the market, but agree that if the buyer can complete before an agreed date, you will sell to them, but if not then you will contact any other viewers who were interested enough to be asked to be informed if your sale fell through.

MrsCJH99

You could accept it and tell them you are staying on the market. But personally, in this market, I would only take an offer from a proceedable buyer. I would tell them to come back when they are under offer. Otherwise its just wasting their time and yours.

We sold and bought recently and agents around here will only take offers from people under offer / cash buyers / FTBs.