Should we accept the offer?

Dillence

I am selling my parents house which I have inhierited and it went on the market a week ago. Its quite an individual house on a large plot and EA and I decided to go for £295,000.

It only went on Rightmove last night and we have had 4 viewings already. Two offers have come in today, one for £283,000 and one for £290,000.
Both are in a similar position to move.

Not sure what to do, my heart tells me that it could go for higher with more viewings - we have two more lined up for weekend. My head tells me to accept money.

Do I have viewings at weekend and then decide ?

Or should just take money and run??

I know I am probably worrying more because it was my parents home etc.

Cannon_Fodder

First offers are rarely final offers...

I think you are entitled to allow it to appear in the local property pages, and give it a week on the internet, unless someone offers asking price.

lilac_lady

Personally I'd accept the offer, but I don't gamble.

Catblue

Two great offers in a week? Excellent. The house is obviously priced competitively.

I'd give it until Monday and then make a decision. The EA can tell those folks who have put in an offer already that if they want to increase their offer to the asking price then that would secure the place before the weekend.

Otherwise, you may as well go ahead with the weekend viewings (it's already Thursday so it is not as if you are delaying things too long).

shane42

ask for full price see what happens

Dillence

Catblue wrote: »

Two great offers in a week? Excellent. The house is obviously priced competitively.

.

The first viewer said the price was way off, in fact he couldn't see where it came from! Shows how things can change in a few days.

Thanks for all opinions - anymore??

ceh209

If you'd be happy with £295k for it, then tell the person who offered £283k that you've had another offer and see how they respond. You're in a good bargaining position having 2 people interested, just don't scare them both away!

Whether you were right to put it on at £295k, I can't comment!

dander

You sound like you've had an awful lot of interest in a short time, which suggests it's priced right. I definitely think there's no point accepting anything until after the weekend. I would ask the estate agent to tell both the people that have offered that you already have two offers on the table and viewings lined up for the weekend, so you are going to wait until next week to make a decision.

Personally, though, I would think that level of interest suggests you should be able to get full asking price.

Dillence

We have decided to let the viewings go ahead at the weekend and we may also speak to the £290,000 offer to see if they will go higher.(the £283,000 is already at max).

Hopefully we will get the full asking price.

Thrugelmir

Firstly, sorry to hear about your loss. As I don't wish to sound purely mercenary.

Go for a private tender. You can then force best last offers and decide which offer to accept. As buyer in best position to proceed may be better than a option than £2k more.

What you want is a speedy sale to realise the cash.

Is the estate liable to IHT?

Dillence

Thrugelmir wrote: »

Firstly, sorry to hear about your loss. As I don't wish to sound purely mercenary.

Go for a private tender. You can then force best last offers and decide which offer to accept. As buyer in best position to proceed may be better than a option than £2k more.

What you want is a speedy sale to realise the cash.

Is the estate liable to IHT?

Thanks for your comments, no there is no IHT to pay. I think that we will make the decision next week, if we get any more offers private tender may be an option.