Hoorah, finally an offer!!! for very impatient newbie!

QTPie

3LITTLESTARS wrote: »

as previously stated, all a bit new to this, so we just said no and left it up to EA to get something higher......possibly?

Eeerr, I think that you are wrong here... I can understand if the offer was ridiculously LOW, but £217k on an asking priceof £234,950 is a SERIOUS and good offer (92.5% almost). If you are not happy with £217k, then what will you be happy with?

If I was you, I would get back hold of the etate agent - before he phones the people who made the offer - and suggest a sensible counter offer.

Good luck - hope this works out for you: sounds VERY promising!

QT

Cat695

then ring the EA in the morning and tell them you would accept their offer if the went to 225K

A buyer could be put off by just a straight refusal.....and your EA might be rubbish....YOU need to direct them

QTPie

Out of interest, have you already looked around the property market for something to buy (before you put yours on)? Do you have an idea of budget? Do you know what sort of mortgage you can afford (to move up the housing ladder)?

Do you have a plan? Or did you just put on the market (and drop your price) completely speculatively?

QT

3LITTLESTARS wrote: »

Hopefully the EA will come back with another offer, I just want to get looking around to see if it is worth the move or not. Would be happy to except £220,000 if we could buy what we are looking for in our next move, but I don't think people further up the price ladder are being that realistic! Time will tell, along with the next offer hopefully. Thanks for the advice.

QTPie

Cat695 wrote: »

then ring the EA in the morning and tell them you would accept their offer if the went to 225K

A buyer could be put off by just a straight refusal.....and your EA might be rubbish....YOU need to direct them

Agreed.

I also think that, in a falling market, you will be lucky to maintain the level of interest and offer price for long: treat these early viewings as incredibly serious - if you mess them about, then you may find your "window of opportunity" passed by the time you decide to act on it...

That isn't to rush you, just to suggest that you should "know your own mind", "have a plan", "know what you want to accept" and "not mess people around". It isn't a seller's market at the moment...

Good luck
QT

3LITTLESTARS

We've looked around and have seen a couple of interest. Originally we decided to sell because of one particular property for sale, but this has since been on and sold. The problem we have is ours is a big 4 bed semi (but on a main road),and to get a detatched of the same size is looking like its going to cost a lot lot more. We don't know whether it is worth it. I realise now it sounds like we may have been a bit hasty saying no to the offer, but we had already dropped £15,000 and I think the buyers took this into account. However, they are cash buyers so they do have that in there favour. The EA did say to them we were probably looking for more as we were not in a rush, so we are hoping he will negotiate for us. Are we being a bit slow here?

Cat695

3LITTLESTARS wrote: »

We've looked around and have seen a couple of interest. Originally we decided to sell because of one particular property for sale, but this has since been on and sold. The problem we have is ours is a big 4 bed semi (but on a main road),and to get a detatched of the same size is looking like its going to cost a lot lot more. We don't know whether it is worth it. I realise now it sounds like we may have been a bit hasty saying no to the offer, but we had already dropped £15,000 and I think the buyers took this into account. However, they are cash buyers so they do have that in there favour. The EA did say to them we were probably looking for more as we were not in a rush, so we are hoping he will negotiate for us. Are we being a bit slow here?

Cash buyers can probably seem a little more cheeky because they MAY have the mentality of "cash buyer I can do want I want" if you want more then stick to your guns but the clearer you are the better recieved it will be......get them to prove they are a cash buyer

3LITTLESTARS

OK, so we done good saying no to offer and hope they come back with more, which I think we will probably except, if it is close to say, £225000, but how do we check if they are acutally cash buyers? and does this really make that much difference if they are?

Cat695

I still think you should "point" them in the right direction of 225k (if thats what you want)

Your estate agent can ask to see proof (can be confirmed by their solicitor)....you don't have to speak to them at all.

cash buyer don't have to worry about a mortgage....which means you don't have to sit around for weeks waiting to know if the bank will actually give them to money! as there has been stories (the EA i saw today confirmed this) that buyers have come in with a mortgage in principle (ie banks says yes to loan) only to get to exchange of contracts and the bank pull out

However this is normally only for buyers who want to borrow 90+% of the money

Davesnave

Another thing to consider is that your next buyers, if you lose these, may not be cash & chain-free. It can take months to get a viable chain together.

Last July we had four couples eager to offer serious money on our house, but after 3 months, only one of them had managed to find a proceedable buyer who, in turn, was depending upon a first time purchaser. Eventually, the FTB decided not to exchange before Christmas, so we only completed at the end of last month.

A week is a long time in politics, and six months is an eternity when your house is losing £2k in each one that passes!

3LITTLESTARS

Thanks, this has given us something to think about. Will keep you updated.........