Offer on our house - how do we play it?

delmar39

Thanks for all the posts on here extremely helpful and interesting to read. Just a general note on this. An earlier post on here made reference to both parties feeling like they've got a deal. I think this is what it's all about. We don't feel like we're getting a deal at their final offer price and by the looks of it neither do they. So, it would appear that the deal is dead. We haven't inflated our on the market price and in fact, we've already dropped by £5k to drum up interest, which has had an affect. In a nutshell, we're prepared to negotiate and compromise in order to get the deal done, but as with everybody, we have our limits.

See what happens next - interesting times!

Saving_spree

You should give it a little time.

It gets really confusing. So wait for the convincing offer and go for it.

SPOTTEDCUP

hi delmar
just caught up on your thread, hopefully they will come back with a higher offer for you to consider suppose it depends how much they liked your house sit tight now over christmas and cross your fingers and toes

delmar39

SPOTTEDCUP wrote: »

hi delmar
just caught up on your thread, hopefully they will come back with a higher offer for you to consider suppose it depends how much they liked your house sit tight now over christmas and cross your fingers and toes

Hi Spottedcup, yeah, thanks for this. We went back to the agent yesterday to get them to find out what's going on so we may or may not find out some more over the next couple of days. We'll see what happens from now. Kind of chilled about the whole thing now and at least we know what we're prepared to accept given our budget for the new place. Keep you posted.

delmar39

delmar39 wrote: »

Hi Spottedcup, yeah, thanks for this. We went back to the agent yesterday to get them to find out what's going on so we may or may not find out some more over the next couple of days. We'll see what happens from now. Kind of chilled about the whole thing now and at least we know what we're prepared to accept given our budget for the new place. Keep you posted.

One more update for you. The buyers are trying to raise the additional funds to offer around £227k. There's a problem with the sale of their property, which is the reason for the delay. Their 'cash' buyer has an 85% mortgage (so not a cash buyer - we're all cash buyers if you take a mortgage into consideration!) and it looks like there's problems with it. So, the deal isn't off just yet. Watch this space.....;)

Isklar

Interesting update, sounds like the EA, (Or someone) has been misleading you a little because you mentioned in post #36 that the potential buyer was 'in a strong no chain position'. Now it turns out that their buyer has issues. Odd how an EA can interpret the phrase 'no chain position'. To me, 'strong no chain' is the position I was in when I bought my house. I was renting, had no property to sell, had the money to buy a house in the bank, so didn't need a mortgage. That, IMO is a 'strong, no chain buyer'...
Keep us updated!

delmar39

Isklar wrote: »

Interesting update, sounds like the EA, (Or someone) has been misleading you a little because you mentioned in post #36 that the potential buyer was 'in a strong no chain position'. Now it turns out that their buyer has issues. Odd how an EA can interpret the phrase 'no chain position'. To me, 'strong no chain' is the position I was in when I bought my house. I was renting, had no property to sell, had the money to buy a house in the bank, so didn't need a mortgage. That, IMO is a 'strong, no chain buyer'...
Keep us updated!

Thanks for this and I know what you mean. When our EA called the buyer's EA after their first offer, the buyer's EA did indeed confirm that the buyer's buyer was in a strong no chain position and was paying 'cash.' So, it looks like the buyer's EA is the issue here or they just didn't know. Amazing how these things turn out. Anyway, bottom line is the deal is still on the boil so no bad thing. December is supposed to be quiet so at least we've got something to be going at until January comes around. Plus, we can use that fact that we have interest to our advantage with other potential buyers, but let's see what happens first....!

SPOTTEDCUP

delmar
i take all the estate agents comments and advice with a pinch of salt and make my own judgement
our e/a reckons we will sell jan/feb but im not so sure

delmar39

SPOTTEDCUP wrote: »

delmar
i take all the estate agents comments and advice with a pinch of salt and make my own judgement
our e/a reckons we will sell jan/feb but im not so sure

Good point. You need to rely on the info to a certain extent to make decisions, but like you say, it's best not to rely on it too heavily. We should get an update from our EA today about state of play in relation to buyers position. Will post an update when I have it.

Milliewilly

Some buyes simply lie. I had a viewing on mine that according to my EA had nothing to sell. When I asked them what their position was they said they hadn't even got their house on the market.

If I and the EA had known this I wouldn't have entertained the viewing in all honesty. They have since been back into the EA enquiring about my house again!

There are also a lot of people who think cash = mortgage from the bank but nothing to sell.