Offer On Property When In No Position To Proceed

not_loaded

What attitude would you take to an offer on your property when the viewer is in absolutely no position to proceed?

They’ve viewed, and then (apparently) put theirs on the market the next day. They made a cheekily low offer, since improved by £10,000, but it’s still way below asking price.

If it was me in their position, I’d have expressed strong interest but left it at that until I had some definite interest in my own property.

Cozworth806

In this market it is pointless to have an offer even suggested without being able to proceed, so I would say to them that the offer is agreed in principle but it will still be marketed until such time as they are.

not_loaded

Thanks. We haven’t ever sold a property so it’s all new to us.

Discussing it with OH it’s obviously the overall quality of the offer that matters, as they could offer full asking price at this stage to look convincing and still never end up as the buyer.

In this case they’re nowhere near ready to proceed and went in really low initially. Three days later their property still doesn’t show as on the market. Their second offer is not acceptable either, as we’ve only been on the market for a few days and are getting plenty of viewings.

queenieplum

Most EA's dont bother showing people round places without them havng a deposit.. They could be on the market for months, all depends on what your timeframes are like and if you can wait for them.

not_loaded

Yup. We’ve no onward chain and so should be attractive to a ‘ready-to-proceed’ buyer.

I’m not offended by their very low offers, but I think they’ve been watching Kirstie and Phil too much.

gemstars

Are you sure that them buying your property is dependant on theirs selling?

mlz1413

If you haven't been on the market long and are getting lots of viewings I'd agree with Cozworth, tell them you accept in princple but the house will be marketed until such time as they can proceed.

I personally don't understand people putting in offers when they are not on the market but I have met a lady who does this, she particually wants to live in a certain village goes to see every house in her price range when sellers agree a price with her she puts her house on the market and then gets disappointed when someone ready to proceed comes on the scene. :rolleyes:

James123_2

Yes, an offer from someone unable to proceed is no more than a statement of interest and the EA should continue to market your property to other buyers. However, this potential buyer might sell their property immediately so it's best not to discount seemingly speculative offers. It's easy to feel messed about and difficult to tell the real potential buyers from the sight-seers. I guess it all goes with the territory of selling - which is why it's the second most stressful event in your life.

chickmug

Offers when people need to sell before they can proceed are a WASTE OF TIME. Not very often but an odd vendor client, of ours, didn't take our advice, accepted the offer and even gave the buyers time to sell. The reason usually is that they liked the buyers -- Ugh Ugh and Ugh - not match.com but selling a ruddy house.

In these latter cases often the buyer would sell and because they were being offered less, for their place, they reduced their offer. The result was a most unhappy seller and we did feel like saying "we told you so".

not_loaded

gemstars wrote: »

Are you sure that them buying your property is dependant on theirs selling?

Yes. On their second viewing they said they ‘had to sell’, and they’d ‘just’ put it on the market with a named EA. That EA’s site days later shows nothing of it, and neither does Rightmove.

mlz1413 wrote: »

If you haven't been on the market long and are getting lots of viewings I'd agree with Cozworth, tell them you accept in princple but the house will be marketed until such time as they can proceed.
I personally don't understand people putting in offers when they are not on the market but I have met a lady who does this, she particually wants to live in a certain village goes to see every house in her price range when sellers agree a price with her she puts her house on the market and then gets disappointed when someone ready to proceed comes on the scene. :rolleyes:

As per my #3 above, the initial offers were too low anyway. I suspect that they genuinely don’t understand the current situation. Houses here ARE selling, and the national media hype seems to say ‘take your time and shaft the sellers’.

James123 wrote: »

Yes, an offer from someone unable to proceed is no more than a statement of interest and the EA should continue to market your property to other buyers. However, this potential buyer might sell their property immediately so it's best not to discount seemingly speculative offers. It's easy to feel messed about and difficult to tell the real potential buyers from the sight-seers. I guess it all goes with the territory of selling - which is why it's the second most stressful event in your life.

Yes, I told the EA that it can ‘go on the table’. We have no onward chain and aren’t feeling too stressed currently.

chickmug wrote: »

Offers when people need to sell before they can proceed are a WASTE OF TIME. Not very often but an odd vendor client, of ours, didn't take our advice, accepted the offer and even gave the buyers time to sell. The reason usually is that they liked the buyers -- Ugh Ugh and Ugh - not match.com but selling a ruddy house.
In these latter cases often the buyer would sell and because they were being offered less, for their place, they reduced their offer. The result was a most unhappy seller and we did feel like saying "we told you so".

The buyers ARE actually very nice, but very nice don’t pay the bills. :rolleyes:
Thanks for your view on this. Yes, talking with my wife, we could see just that scenario playing out. If I were in their position I’d want to see what I might get for my house before talking numbers. They’ve upped their offer twice now. Today, their house still doesn’t show on the market.

To me that’s a Monopoly money offer.

Yesterday however, we had the ‘perfect customer’ family turn up. Fingers crossed…

chickmug

not_loaded wrote: »

Yesterday however, we had the ‘perfect customer’ family turn up. Fingers crossed…

Do you mean the 'perfect (without letting you down) buyer' family:D