offer being made after 24 hrs on the market.

cavework

Can I ask for a bit of advice please?
Our house has been on the market for 24 hours .. still not on rightmove or even advertised through EA. EA phoned last week and already had a viewing for today. Couple are in rented and want to live 4 doors away from parents in our street. They have a mortgage in place and are coming back with an offer by tonight.EA has left the sales agreement .. we haven,t even signed it yet!
Another Estate agent came and said she would put it on the market for 190K and sell it for 185K .. she measured up while she was here , before we had even agreed to use her company?
Our property is on the market for offers in excess of 2K. EA is pushing that we accept this offer of 200K or a bit more due to there being no chain and says if we go ahead we could be moving in 4-6 weeks.
Unless they come back at 203K or more we are a bit concerned that there may be others who could view and offer a better price.
We are in a fixed rate mortgage until July .. this will incurr an extra cost of 3K before July to pay them off. Told EA this and she said then hold off moving until the end of July.
We are moving into rental so need the best price we can get...
Should we hang on a bit and wait till others have viewed ?
Please can I have other peoples opinions on this?
There are only 3 properties in our village for sale and only this one at the price we are asking.. the others are 500K , 205K but much smaller and another .. really small at 198K, it is in a fantastic catchment area for the local schools
It is ex local authority but there is a waiting list for people who want to move on the H/A list for rental. No houses have come up for rent in the last 10 years we have lived here.

googler

cavework wrote: »

Can I ask for a bit of advice please?
Our house has been on the market for 24 hours .. still not on rightmove or even advertised through EA. EA phoned last week and already had a viewing for today. Couple are in rented and want to live 4 doors away from parents in our street. They have a mortgage in place and are coming back with an offer by tonight. EA has left the sales agreement .. we haven,t even signed it yet!

Sign it, then, so that the EA can accept the offer on your behalf.

cavework wrote: »

Another Estate agent came and said she would put it on the market for 190K and sell it for 185K .. she measured up while she was here , before we had even agreed to use her company?

Do you want advice on this? Well, if she measures up at the valuation, it saves her doing it later, since you're obviously going to place it on the market with her.... apart from that, if the other EA has brought in a buyer who wants to offer you more than this, the answer is clear.

cavework wrote: »

Our property is on the market for offers in excess of 2K. EA is pushing that we accept this offer of 200K or a bit more due to there being no chain and says if we go ahead we could be moving in 4-6 weeks. Unless they come back at 203K or more we are a bit concerned that there may be others who could view and offer a better price.

Have these viewers offered £200k? Or are you expecting £203k from them? Either way, they sound keen, and do you REALLY want to turn them down for the sake of £3k? (especially when another agent reckons you'll get £185-190k....)

cavework wrote: »

Should we hang on a bit and wait till others have viewed ?

If you think these buyers are keen enough that they'll first of all have their offer turned down, will wait without buying anything else, watching while you market for a while, and see if you can get anyone else, then, when you can't and see if these folks are still interested, you go back to them - do you think they'll make you the same offer, two months down the line?

They want to buy your house. You want to sell your house. It sounds like they're making you a good offer at £200k. Don't lose them for the sake of £3k.....

liubeliu

Hi

Check your mortgage terms as you may be able to port it and reclaim the redemption fee if you complete the ported mortgage before 6 months as was the case with mine. I went into the branch of my lender before doing this to make sure it was ok. When we sold we had to pay the redemption at completion but got it back when we completed on our purchase 4 months later.

Or you might be able to secure a better long term deal which would more than compensate for the 3K redemption fee.

cavework

Next door has been on the market at 198K since last May .. it is much smaller , we have a 2 storey extension ( huge kitchen installed 2 years ago with utility) and it has no off road parking (3 cars on ours) or a stand alone brick built garage.. house opposite sold for approx 155K to a property developer .. no garage , no central heating , no double glazing, very small area for off road parking and no views over open fields to the back..
Guess I am just a bit scared of taking the first offer.:eek:

cavework

Porting the mortgage is not an option as we will be renting..
Googler .. think the EA who measured up already had a buyer in mind ..
The one we have chosen to market with has delivered us the best possible option in the minimum time..think she has earned her fee.
Thanks for the replies ..I just needed other peoples opinions .. hope you understand

uk_property_expert

Why not exchange contracts with completion when your early redemption penalty period expires. (long stop completion date) in the meanwhile rent them the property until then, you can ask for a release of deposit to pay for your deposit and 6 months rent. you can tell them that you are keeping it on the market until exchange which can be done in 48 hours.

cavework

UK Property Expert ..we have decided on 2 options .. the buyers can wait until July or pay 3K extra for a fast move .. guaranteed sale either way.. and off the market .
Thanks for your advice it,s really appreciated.

Squish_21

I think i'd accept it personally.

odowdchr

cavework wrote: »

Guess I am just a bit scared of taking the first offer.:eek:

How much more would you realistically expect to get?
Weight that up against selling your house in 6 weeks....then accept it.

cavework

Squish .. thanks .. have to convince my OH.... but I think it is a good deal .. bit daft really as we still don,t know the price above 200K they are willing to offer.
I think its just the fact that the house has only been on the market for 24hrs ..
spent the last 24hrs cleaning it , painting the bad bits and hiding all our tat in the attic!
Hope the ceiling holds up!
:eek:

jonewer

cavework wrote: »

Our property is on the market for offers in excess of 2K.

Thats cheap. I'll give you 2k and 1p, subject to contract.