Accepting bid when bidder has house to sell!!

dprovan

no I am in Northern Ireland.....

I guess my point is illustrated as follows.... Someone looked at our house younger couple ready to move together, he has sold she hasn't......Feedback they liked our house alot and want to be kept updated however she still needs to sell........Now this to me makes sense...Had they come in with an offer as they stand, I would have said thats nice....Let me know when you are in a position to move and Ill consider it.....What else would I do? So I don't see any point in me bidding/making an offer on anything until I sell, yes I can go and look and be ready to offer when it means something...

Tassotti

Same thing..Your vendor will have secued a 'sale' to you. their vendor may have secured a sale, and so on.

If you wait for an accepted offer on your place, the one you want may be well down the line and the the chain (waiting for you).

See a place, 'buy it'

Tass

td

I suppose it depends on how much and how quickly you want to sell. If they offer full aking price and you're willing to wait then you may not acept a lower offer from someone who is ready to buy knowing that you have a higher offer in the bag already.

td

Woby_Tide

I don't see any problem with bidding before you have sold, as you say, the seller doesn't need to accept, similar to what TD says. If I liked a place I would be tempted to bid, if they turn round and say they would accept a bid that was say £10k off the asking price once I sold my place, then within reason I know what figure I need to make everything add up so may likewise be willing to drop the price I hoped to achieve on the property I was selling. Likewise if seller would only accept full asking price then I would be more likely to hold out for a higher offer on my own place. Showing some willingness and interest in a property is a bit of mindgames, makes the seller feel better knowing that someone liked their house etc.(and going by your comments about lacking viewers etc a bit of flattery like an offer would seem better than none at all I'd have thought, regardless of position)

dander

I would say there's nothing to stop you making an offer - but as a seller, would you accept an offer from someone who wasn't in a position to complete it?

I also think it's worth holding back on the viewings because you already talk about 'dream houses' slipping through your fingers, just think how much more you'd fall in love with a house if you viewed it made an offer and had that offer accepted. You could still ended up losing it because you couldn't secure a buyer for your own place and that's gonna hurt a whole lot more than just seeing pretty pictures on rightmove. For your own sanity, hold off until you're under offer!

BACKFRMTHEEDGE

I would never accept an offer from someone who hasn't had an offer.... Furthermore, I wouldn't even consider it an offer.

kimmie32_2

I am confused do you have to tell the vendor that you have had an offer on your house or not? Or can you make an offer without informing them that your house is on the market but no offers made.

Thanks

Doozergirl

kimmie32 wrote:

I am confused do you have to tell the vendor that you have had an offer on your house or not? Or can you make an offer without informing them that your house is on the market but no offers made.

Thanks

If you make an offer, the agent will seek to verify that offer. That means contacting your estate agent to confirm that you have sold subject to contract, checking how long the chain is beneath you and whether it is complete.

Making offers without selling is a bit like going shopping with no cash

nickinoo

Maybe I am being a bit thick but surely someone has to start the ball rolling or the only people who would be able to make an offer would be FTBs?

Woby_Tide

Doozergirl wrote:

Making offers without selling is a bit like going shopping with no cash

Crikey, you best avoid the subforum a couple of clicks above this one, it's all about credit cards, apparently you can go shopping without cash...the worlds gone mad.......;)

Making an offer without selling is like shopping with no cash, you're speculating that the money will be available to cover your purchases, you gamble that your employer pays your wages to cover the credit card, you gamble that your house gets sold to back up the offer. If neither happens, you don't get the goods(or someone knocks on the door asking for the goods back). The seller doesn't accept have to accept the offer(even conditionally, they don't lose anything accepting a conditional offer that may or may not come to fruition).