how to protect myself and not lose out

getmore4less

How much below the asking price with the new agent is the offer?

When are they indicating their sale is likely to go head to exchange.

If all they need is a survey and contracts they could hold off until much nearer the date lined up for exchange on their place and continue looking if you want to continue to try and get a higher offer.

They should consider getting the work started though and this will start costing both of you and if it throws up something leaving it could cause delays.

Why not be honest and tell them you want more money and will keep trying.

Catbells

getmore4less wrote: »

How much below the asking price with the new agent is the offer?

When are they indicating their sale is likely to go head to exchange.

If all they need is a survey and contracts they could hold off until much nearer the date lined up for exchange on their place and continue looking if you want to continue to try and get a higher offer.

They should consider getting the work started though and this will start costing both of you and if it throws up something leaving it could cause delays.

Why not be honest and tell them you want more money and will keep trying.

The offer is £100k below asking price and they want to go ahead as they have good firm offer on theirs.

The houses in my row are all different - and very old - 400 years some of us.

Catbells

pawpurrs wrote: »

You cant have it allways, you need to decide whether to accept this offer or whether to hold out for another better offer. Its not fair on your buyer to accept their offer, and then dump them after they have started incurring costs, if a better offer comes along, keeping it on the market as back up and just taking names and numbers should the buyer mess about is different, but if you accept you have to give said buyer fair crack of the whip.
If this offer is too low, decline and see if they either increase or someone else comes along that is prepared to offer more, if so many houses in your row have recently sold, how does your offer compare to theirs?

I hear what you say. The offer is £100k below asking price and I was offered the asking price a couple of years ago - but I know market has slumped a bit. All the houses on my row are different sizes so can't compare mine with them.

pawpurrs

How much is the house up for then if its 100k below asking? So you have it on for the same price as 2007 at the moment, I take it it is in London if its a terrace up for that much.

Catbells

£1.3m. Yes it is in London - but its my pension I'm more bothered about as its in the house and I have to pay off the mortgage too. Nothing's simple.

getmore4less

Catbells wrote: »

The offer is £100k below asking price and they want to go ahead as they have good firm offer on theirs.

The houses in my row are all different - and very old - 400 years some of us.

So where are we now price wise
we had this post only 3 months ago

http://forums.moneysavingexpert.com/showpost.php?p=30163227&postcount=2870

Have lived in my home for 23 years and its my pension as I'm about to retire. 18 months ago it was valued at £1m now its gone up to £1.75m and I've had 4 offers on it one for £1.5m. True I havent exchanged yet but things have definitely improved and there's more buyers than sellers. I did have an offer from one who wanted to pay me £950k now and the rest in 2 years time - delayed completion date. Some folks have a cheek!


and this

How long would you need to hold onto gold before selling it and making a profit. 2, 5, 10 years? Am going to have a large sum from house sale £150k and reading here am becoming interested in buying gold but I don't want it to be tied up for longer than 5 years, but I do want to get a good interest on it - around 5%. I would spend upto £50k on it. Would this be wise? Thanks.

1.5m house where the rest oif it gone if you only have £150k left

What are your objectives in selling? you say this is for retirement but you are well short if you a reolny kepping £150k back.

£1kpm needs a pot of £250-£300k

How bigs the mortgage? after 23years it should be tiny?

JimmyTheWig

Consider this...

You have accepted an offer from Buyer A.
Buyer A incurrs solicitors fees, survey fees, etc on your property.
Buyer B comes in with a better offer.
You accept the offer from Buyer B and tell Buyer A that they can't have it after all.
Buyer B finds out about Buyer A. (If I was Buyer A, I wuold do my best to inform Buyer B.)
Buyer B pulls out.

You've now incurred solicitors costs from the partial sale with Buyer A, possibly more solicitors costs from the partial sale with Buyer B and you've lost yourself two buyers prepared to pay an acceptable price.
You can try to play this game if you want. Certainly there is nothing legally to stop you. But I don't think that it is in your best interest.

In addition, Buyer C who might also be interested has seen your property being Sold STC twice and both times coming back on the market. He now wonders what's wrong with it and gives it a wide berth.

pawpurrs

100k off at that level is a good offer!
But am now totally confused as quoted above you had a procedable offer for 1.5million in feb, but earlieryou say that this offer is the best you have had in four mths?

Catbells

I am dealing with one aspect of my retirement at a time and the house is the first priority. That's why I am on this board. As you have seen I am exploring other avenues related to investing for my pension. £150k is part of that and as you rightly noted there is a bit more but will sort that at a later time. My m/g after 20 years is £350. I live in London and looking to buy another house for around £550k

Gwhiz

bouche wrote: »

Yeah - tried to.:(

Will hunt you down, another time perhaps, tomorrow - maybe Friday. Shouldn't really tell you when, or I'd not be stalking you.................:cool:

Keep me guessing!