am i obliged to sell?

confused31_2

I was thinking of lowering my house another 20,000 pound and asking for offers in the region of.

Now if someone comes in with a offer, am i obliged to take this offer? or can i just refuse, if i cant find another house to buy has other people havent dropped their prices for me to move up the ladder.

im thinking of lowering down to what the prices were in 2004 and seeing what the interest is like from buyers.

can i do this and then refuse to sell?

confused

Zelie

Yes you can refuse. The potential buyer is the one trying to make the deal. they make an offer which you then consider. You've advertised that your house is for sale but you don't have to sell it and you don't have to accept any offers you don't like.

confused31_2

I think i may do it tomorrow and see what happens like you say you havnt got to accept the offer, so what have i got to loose, ill propbably drop it 20,000 pound and still get no viewers.:rolleyes:

confused

PasturesNew

I think the trouble here is that you would just end up wasting everybody's time (including your own), because your mind set is in the wrong place.

If you drop the price, get the viewers, get an offer, you might then start convincing yourself it's worth more and all you have to do is "wait for the right buyer", who you think is miraculously just around the corner.

I'd drop the price and once I had a buyer I'd be grateful and see that through, even if I didn't find a house I liked "in time". House prices will be continuing to fall and more and more properties will come onto the market.

Why limit yourself to only buying houses that are for sale in one 2 month period of time, when you could take your time and choose from all those that come onto the market in the next 1-2 years?

confused31_2

The thing is i havent even looked at houses yet and my house as been up for sale for nearly a year.

The reason we didnt look was we thought it would be pointless if we hadnt sold ours, so today i have informed the estate agent to lower the the price of our house to what next door sold in 2004.

Now if we got a offer, we could start looking, i know im not going to get more for my house, thats why im taking this gamble, that if i do get a offer i will look and make a offer in relation to the one ive had and hopefully a seller will accept it.

Id be willing to sell mine and move into rented accomadation for a year, but i was hoping to transfer my mortage over, which i will incur extra charges, plus we have just had our third child and i dont think the missus wants to be hanging on waiting to move.

i will just see what happens, ive lowered the price, but i still might not get any interest, then i will just have to lower agin or stay where i am.

confused

need_help_6

I think you should tell your Estate Agent what you are thinking. I would agree that you would not be forced to sell if an offer came in. However, your agent is going to ask you to pay his bill for marketing your property if he finds a buyer willing and able to pay your CURRENT asking price.

If you get an offer at the full (albeit revised) asking price and you choose not to accept you may be presented with a bill for the selling fees.

hethmar

Good luck anyway confused