Playing Buyers At Their Own Game.

Claire_DC

PJD wrote:

Typical estate agents :wall:

I totally agree, & wouldnt take mine off either - the problem is, the estate agents stopped pushing my property once I accepted an offer last week :wall:

And so they should in my opinon.

Most buyers are commited to buying the property they make an offer on, why punish them just because of a few of them?

We've just bought a house (first time buyers) and if the sellers had wanted the estate agents to keep pushing the property and showing other buyers around, i would have been truly annoyed even just at at, and really upset if we had been gazumped because of this. Probably enough to pull out of the sale altogether to be honest, and in that way the seller would lose a perfectly good buyer so everybody loses out.

Luckily my dad knows the seller as he lives next door to them and the offer was accepted the day the house went on the market (had already looked around it before they put it on) and they knew we were desperate to move so it all went fairly smoothly.

PJD

It seems that more & more buyers are not committed, so why should I be punished? Maybe if you've been on the recieving end of wasted months & time wasters your view might be slightly different.

What I'm saying is, buyers are putting in offers on more than one property, so why shouldn't I, as a seller, accept more than one offer from buyers? If my property carried on to be marketed the last time someone put in an offer but had no intention of buying, I wouldn't have wasted all those weeks, & maybe I wouldn't be back to square one, again.

Jorgan_2

PJD wrote:

Typical estate agents :wall:

I totally agree, & wouldnt take mine off either - the problem is, the estate agents stopped pushing my property once I accepted an offer last week :wall:

PJD, your agent is supposed to be acting for you, if you want the property left on the market, tell them, although its going to be difficult going back to the buyer now. I assume the buyer is in a proceedable position?

As an EA, the question of whether to leave a property on the market once an offer has been accepted, is one I get asked a lot and there is no right answer.

If you are concerned about the buyer proceeding, at the point of accepting an offer, there are conditions that you can attach. Advise the buyer that the property will be removed from the market & a survey has to be done within two weeks or the property remains on the market until such time as a survey is carried out. The former tends to be used more, we keep details of anybody that calls regarding the property so that if the buyer withdraws, we have a listed of interested people to contact. If the buyer is unhappy with the first suggestion, the alarm bells are already ringing.

Arch-Angel

Jorgan wrote:

PJD, your agent is supposed to be acting for you, if you want the property left on the market, tell them, although its going to be difficult going back to the buyer now. I assume the buyer is in a proceedable position?

As an EA, the question of whether to leave a property on the market once an offer has been accepted, is one I get asked a lot and there is no right answer.

If you are concerned about the buyer proceeding, at the point of accepting an offer, there are conditions that you can attach. Advise the buyer that the property will be removed from the market & a survey has to be done within two weeks or the property remains on the market until such time as a survey is carried out. The former tends to be used more, we keep details of anybody that calls regarding the property so that if the buyer withdraws, we have a listed of interested people to contact. If the buyer is unhappy with the first suggestion, the alarm bells are already ringing.

I've been following this thread with great interest - particularly since I'm a FTB having to relocate to a different part of the country. IMHO serious buyers will want to get on with the sale (surveys etc.) and could act as a good indicator to a serious buyer.

Attaching conditions on the buyer is OK in principle - but what about the seller? Provided both sides benefit from the conditions then I personally wouldn't have a problem. But the seller should also forfet a token deposit if the seller gets a higher offer once an offer has been accepted - particularly if the buyer has paid for surveys, searches etc.

It's a two way street after all.

Jorgan_2

Arch-Angel wrote:

I've been following this thread with great interest - particularly since I'm a FTB having to relocate to a different part of the country. IMHO serious buyers will want to get on with the sale (surveys etc.) and could act as a good indicator to a serious buyer.

Which is were my first 'condition' comes in. A serious buyer will have instructed solicitors, surveys etc within the two week period, any longer & you start asking questions as to why.