who would you sell to?

Bufger

excellent advice here, thanks.

Purplebuzz - Nowhere in my post have i indicated that im the seller. The question was 'what would you do'. As in i want to understand the mindset of people who have sold their house so i can guage how successful i am likely to be. If you think you have been misled please read the original post again.

Silvercar - Its a small chain and the buyer has placed the offer on the basis that he is not yet ready to proceed but hasnt given a very clear indication on when he would be able to. Yes i have the deposit + fees in my bank waiting and the mortgage offer in place. Also have a good (but expensive) solicitors ready and waiting so there wont be a delay in sourcing one.

Everyone - Some excellent advice. Its nice to have some open and honest opinion. I dont like my chances here but its still a very good lesson to learn. Thanks for your opinions :-)

purplebuzz

Bufger wrote: »

Purplebuzz - Nowhere in my post have i indicated that im the seller. The question was 'what would you do'. As in i want to understand the mindset of people who have sold their house so i can guage how successful i am likely to be. If you think you have been misled please read the original post again.

No I don't think that I have been misled and I do understand why you have asked your question in the manner that you did. However, some people may presume that you were the seller from the way your post was worded. Then if so they may respond with information which is irelevant to your acutal situation.

however, as I said I did not want to be awkward and no offence was intended in my pointing out that you are the buyer.

I hope that you have got some answers that help you in your situation, and although I am in the process of selling my house to a FTB who offered 5k under my asking price!!! I only had that offer on the table so took that one!! and I didn't have the choice of an asking price offer from a chain.

The delays in my process (chain of 3 houses, 4 parties) have been due to the FTB's solicitor and my vendors solictor so would I thought would be a quick sale is turning into a journey.

Good Luck getting your offer accepted!! :beer:

Bufger

thanks purplebuzz. Maybe you're right as alot of people have already 'presumed'. Doesnt matter either way as i still get the information i need and i dont feel its any harm done to them.

I hope to avoid the solicitor situation, i have hired a solicitor i know many people at work have used. They are apparently very efficient which is why they have a higher price. As time is money i can justify the extra money upfront.

Good luck in your journey! i hope the solicitors sort their act out for you

jenny74

pinkshoes wrote: »

Given that the person who has offered full price is in a chain, then surely there must also be a FTB in that chain, thus presenting the same risk that they might also change their mind and pull out, collapsing the chain?

So on that basis, given the risks are high with the chain (more people to pull out, including FTB), it would be better to just go with the lower offer.

Not necessarily, we are in a chain (we have now sstc to someone else) and the bottom of the chain is an investor, who is know to all local estate agents. He is known to be sound and as never pulled out of a sale to date.

I would still go with the £5k more. It's a lot of money.

And note to OP - Your post DOES read as if you are the seller, so you in my eyes are misleading by omission. Not that it matters too much as my opinion would still be the same. Which begs the question, WHY? Why not just tell it how it is?

Jenny

Bufger

because thats EXACTLY how it is. All the facts are there plain and clear, all i want is opinions on what you would do if you were the vendor and it doesnt make a blind bit of difference what i am, thats not the question. lol

getmore4less

These days with low interest rates money tied up in property either as equity or debt does not cost much so the £5k covers a few months of waiting even with the other costs of running an empty house.

I think I would consider two senarios in the absence of other offers

First a look at the chain and see what the situation is for a relativly quick 2-3 months completion, if this looked a bit suspect and I wanted out from this place I would give the lower offer a 4 week deadline.

I would not touch you if you did not have at least a 20% deposit to give a bit of leaway if the valuation is low.

The first sign of any messing about the deal is off so no trying to negotiate because a survey has thrown up some minor issues(which it will). A full agreed mortgage offer in a couple of weeks would also be needed and signs of other activities being done.

The risk is that the other buyer pulls out and does not come back if this quick deal falls through.

The other option is to get the chain moving for the full price and leave you on the sidelines(obviously keen and commited) so will still be around for a few weeks and may even up the offer.

Bufger

Well if this one does fall through i have another property to offer on. If that also didnt go through then im taking a few weeks off from viewing! I'll wait on the sidelines and if it fell through i would keep my offer where it is. I'm not willing to pay any more than i have offered so at least they know where i stand.

There was another offer but it was way too low and they didnt come back with anything else. They have had alot of viewings in the 2 weeks its been up though so they could just wait it out. or they could tell the other guy some FTB's have offered close to his and he could raise his, they'd definately go for that then.

Anyway i have a pretty good idea what i'd do and its not in my favour! Thanks for your opinion.

Excellent advice getmore4less. Thanks.

JayZed

If I were the vendor, I'd sell to the other guy. I really don't believe that a FTB is necessarily a better bet than someone in a chain. I might be willing to take the £5K hit if you were a cash buyer who could complete very quickly.

I do think that your original post is misleading, by the way - it definitely gives the impression that you are the vendor.

Bufger

ok if its misleading, thats the general consensus and it wasnt meant to be like that but i dont see it makes much difference. The facts are still there and the question asks what would you do if you were in the position of the seller (whether you thought that was me or not).

Anyway, thanks for the response.

jenny74

Bufger wrote: »

ok if its misleading, thats the general consensus and it wasnt meant to be like that but i dont see it makes much difference. The facts are still there and the question asks what would you do if you were in the position of the seller (whether you thought that was me or not).

Anyway, thanks for the response.

The difference it makes is that some people on here will not be as willing to respond or offer advice in future.

Oh, and it makes you look like a troll.