am I stupid??

dprovan

Hi all, interested in others views.

Ive had my house on the market for about 5 months now, one sale has fallen through.

I am hoping to buy a new house and have an estimated completion date of end of october. I had an offer on my house for full asking price but the couple had their house to sell.

My estate agent phoned day before yesterday and said my bidder had sale agreed and chain was complete and would I accept their offer. I said yes...Obviously.

Estate agent then phoned yesterday and said their was a MISTAKE and my bidders buyer still had a house to sell and it was just going on the market. I was gutted, and said well I wanted mine still marketed.....

My estate agent then phoned later saying my bidder was threatening that if I didn't sale agree they would withdraw offer. I hate threats and immediately replied tough, I would sale agree when they were ready to progress.....later I was told they would not withdraw offer but would look at other houses as their bid on mine is the maximum they can bid and are worried another offer will come in.

I previously turned down a bid of 5k higher to take it off the market from someone in the same position ie can't progress yet.

I felt my estate agent was disapointed I wouldn't do this, they believe the house still to sell will sell quuickly, ive made it clear I need to sell and to sell quickly and can't afford to have the house off the market for a slae that is not ready to progress...

So what do others think have I been unrealistic?

Doozergirl

I think you're doing the right thing. I think your potential buyers are unrealistic and if a sale starts with threats, it doesn't get much better!

I can't believe that any agent in their right mind would think you are wrong not to accept their offer. I'd ask your agent to gently explain protocol to these people, tell them that you are happy to sell when they have a complete chain at their end and ask them to consider what they would do if they were put in the same situation. You simply have to act in your own best interest.

These people have effectively made an offer on your house without having the money to pay for it. Who's mad? Not you!

boom

It's perfectly reasonable to consider the strength of the offer as well as the amount. It's also perfectly reasonable to continue to market your property if an offer you like is in an uncompleted chain.

It wouldn't surprise me if your agent is also marketing your potential buyer's property and he's told the buyer that, if he markets with him, he'll square things away with you.

dprovan

Thanks guys,

interestingly my agent has got to market the house at bottom of chain which is till to be sold....Interesting ahh...

itsakidsworld

I think you have acted very well in a difficult situation all round here.

The buyers loike your house, its in their price bracket but they have not sold. You explain that the offer the gave is acceptable, however, the property remains on the market for any other potential purchaser.

Fortunes change quickly in property so do as you feel correct at the time.

Good luck.

[Deleted User]

If you are not willing to wait for the buyer (or any prospective buyer) to get a buyer for their house, then you should instruct your estate agent accordingly. The estate agent remains responsible for passing on all offers to you, but should also be telling buyers that you want your house to remain on the market until the buyer is in a position to proceed.

You could even stipulate that the agent only introduces'proceedable' buyers althought this would cut down on the amount of viewings.

Proceedable = they either have a buyer for their property, or are cash buyers for yours, or nothing to sell etc...