who would you sell to?

telfordwhite

not_loaded wrote: »

A hobby? Where on Earth do you get that idea from?

I see forums as an exchange of time and knowledge. I don’t mind giving, and I’m always glad when others can help me. However, I don’t expect people to be in any way deceptive.

Maybe we should just agree to differ and OP can see, as time passes, what it has achieved. It’s quite clear it’s hacked off some very helpful long-time posters on here.

Nice!!! :rolleyes:

I'm sure you wouldn't be on here if you didn't enjoy it...:p

Seriously though, anyone hacked off by this thread is a tad oversensitive don't you think?

keith969

To the OP: I would go for the full asking price and the chain. In fact that's just what I have done recently.

£5K is £5K after all, and the other point is that (at least from the info you give) there is no way to quantify the risk between the two cases. The chain might actually be less risk than a FTB on the limit of LTV, who may get a valuation even lower.

chickmug

So now bufger what would you do

Bufger

Well if i were them i'd go with the 5k extra and hope that the FTB (WHICH IS ME FOR ALL THE SENSITIVE SOULS OUT THERE) would still be looking at properties incase it looked like it would fall through.

At the moment though they have asked for an extra day to do their sums and decide. They realise the full asking price guy wants to start it all off late as hes not in a position to go through right now (apparently!) but im sure they know more details than me. I also work at the same company the man has been made redundant from. I didnt actually know him but he knows my line of work and as its a good honest living he may feel more comfortable knowing this info.

Anyway cash is king as it should be. We'll just have to wait and see!

Doozergirl

Bufger wrote: »

Well if i were them i'd go with the 5k extra and hope that the FTB (WHICH IS ME FOR ALL THE SENSITIVE SOULS OUT THERE) would still be looking at properties incase it looked like it would fall through.

At the moment though they have asked for an extra day to do their sums and decide. They realise the full asking price guy wants to start it all off late as hes not in a position to go through right now (apparently!) but im sure they know more details than me. I also work at the same company the man has been made redundant from. I didnt actually know him but he knows my line of work and as its a good honest living he may feel more comfortable knowing this info.

Anyway cash is king as it should be. We'll just have to wait and see!

The fact that he isn't proceedable is really important. There is only one proceedable offer on the table - frankly I would have dismissed an offer that wasn't proceedable but the full asking price offer would make me a bit more confidentt hat people were prepared to pay it.

pingu2209

jenny74 wrote: »

What makes you think the FTB is a better bet? Our house sale fell through in May, because the FTB at the bottom of the chain changed her mind... A similar thing happened to a friend of mine.

Good luck what ever you decide.

Jenny

Completely agree! The FTB may have problems getting a mortgage, has your Estate Agent completely checked out the FTB financial position?

Chinahand

Bufger certainly made me think about his hypothetical situation and I have another one to add to it. :-)

Bufer - I have a question for you re your original post but would add:-

Buyer Number 3 - Offers cash for a 10K reduction.
Would you accept it? If so - why? If not - why not?
thanks.

Bufger

Chinahand wrote: »

Bufger certainly made me think about his hypothetical situation and I have another one to add to it. :-)

Bufer - I have a question for you re your original post but would add:-

Buyer Number 3 - Offers cash for a 10K reduction.
Would you accept it? If so - why? If not - why not?
thanks.

Thats a good question really as it would still make it close between all 3. The fact that it would be a cash buy would make me think its a developer or at least someone thats had quite a few properties and is experienced in the process. As it also takes out the lender they could have their surveyor or builder looking round it way ahead of the normal timeframe, you could potentially sell within 3 weeks i imagine.

Personally i would only go for it if my situation was really bad as it would seriously eat into the equity of the property. Most people would definately go for it at the moment but this house seems to be different. Its had alot of interest and is very reasonably priced so its not possible to ask for much under the asking price.

Hailstorm

Out of the first two offers it would depend on how strong the chain looks. If it looks reasonably strong I would take that offer. If it looks iffy I would go with the FTB.

On the third option it would depend on my situation at the time. I think I would take it over the FTB with a £5k difference. Whether or not I would take it over the chain with a £10k difference would depend on my situation at the time. If I really had to move quickly I would go with the cash buyer. If it didn't matter too much if things took a bit longer I would go with the chain and the extra £10k.

I would be a bit wary of an investor personally due to the experience of friends who have been gazundered at the last minute by cash buyer but-to-letters.

chickmug

When there are several offers and even though they are all different they net down to the same there is only one way of deciding which way to go.

The big secret ---- GUT INSTINCT.

Not very scientific but it was used a lot, by me, especially when you were faced with multiple offers and even after looking at the 'pros and cons' of each there seemed little in it. Often to add to the mix was the seller who was far too emotionally involved and couldn't think straight.