Accepting bid when bidder has house to sell!!

dprovan

Hi all,

I am interested in others views, I have always interpreted that it was pointless bidding on a house until you had sold your own....Always thought Id be wasting everyones time as the offer wouldn't be accepted.

However Ive read a few posts in here recently where people have had offers accepted/or have accepted offers from people who still have houses to sell!!

Im in a situation where Im selling, very slowly(onle one viewing per week) and one dream house after another seems to come up each week. I don't even go to look as I think its pointless as they won't take me seriously.

So why would you accept an offer from someone who has a house to sell......Surely at best you would tell them to come back when they have sold their house but still keep yours on market.... Am I wrong? Please feel free to educate me.....

mummytofour

I offerd on our house before the old one was on the market the sellers took my offer but still marketed it until we have a buyer for our own.

dprovan

thanks for the reply,,,

Im glad this worked for you....I just can't see the point...what was to be gained for anyone from this...surely this was just the same as them saying, come back when you sell, if the house is still there you can have it...

Does that make sense?

Tassotti

Hi dproven

This is the way the property game works. If you see a house you really want, offer on it whether you have an offer or not.

The whole house buying/ selling system hre in the UK is ludicrous, but I am not getting into that here.

As you say, one drea house comes up after another, so don't get too disheartened if the one you 'really want' slips by. The next dream house will be around the corner.

The other thing to be looking at is why your house is not getting too many viewings. Are your estate agents marketing it properly. Give them a nudge. Make sure your property is in their shop window, make sure they are pushing it to buyers. After all, they are working for you.

Be Lucky

Tass

silvercar

I had a buyer and then couldn't find a house to buy!

Chicken and egg situation really.

Mikeyorks

Understand the confusion. But turn it the other way round. If you suddenly get a buyer - and who wants to move quickly - because they're 'cash' They are not going to be impressed if you haven't even kicked off your purchase?

So you need to be a little way up the road ....! But, as you correctly deduce, you can't get too far up the road without a buyer. And the people you're buying from will likely be in a similar position .. and so on. It's what house buying 'chains' are made of. and why there is so much frustration in buying / selling as one of the links often freezes or collapses.

zappahey

Tassotti wrote:

The whole house buying/ selling system hre in the UK is ludicrous

A fairly sweeping statement. It seems to work fairly well in some parts of the UK.

Tassotti

What?

Are you saying it differs in one part of the Uk from another?

I don't think so

If I sweep across the UK, it is because it is facts!!

Tell me otherwise

lapat

i had the same problem
but i was quite lucky due to some monies lent to me by the family that i was able to get the new house before i sold the old one it did sell three days later luckiley enough and i had a small mortgage on the first house so i was able to pay it still if i didnt sell

good luck with your house hunting

dprovan

thank you guys.....

I still don't see any point in bidding before you are in a position to sell.... You are no further down the line... How long does it take to place a bid when your own house has sold..

Regarding my own house, I am terribly disappointed with the lack of viewings...Belive me I wish I could gg the estate agents along, the problem is I can't fault them... They have it marketed prominently in shop and shop window, also on internet, and have ran it in the local paper a few times also...they are always polite, prompt what else can they do? I wish I knew....this is so slow and so frustrating watching houses you would love slip away....

Tassotti

it has been a slow time recently..its just seasonal...market picking up. always the way..don't believe doom mongers who say house prices have slowed down.

They always do over Winter.

When you say bidding, are you in Scotland?

I 'bid' on a house market value 175K Offer accepted 125K after nogotiations.

Good luck

Tass