Need Immediate Advice! Just had an offer.

icklejulez

Just had an offer that has no chain and is being bought the house by her Auntie and Uncle. Its 119000 and we just reduced the house to 122950. We've asked the estate agent to imply we are after more but would like at least 121. Thing is we have another couple viewing tomorrow morning at 10:30 for 2nd time and are also very keen on the house. Do we play hard and wait for an excellent offer ie asking price or 122k or do we accept. I dont want to lose either buyer by being awkward but do need everything I can get. Shall I get EA to phone other couple to tell them Ive been made an offer and they could view today if they are serious buyers?

Ive never sold a house, Im getting conflicting advice off family and my OH is asleep as he works nights! Dont know what response to give my EA if they phone with a second offer. How can I get the top price for my property???

lilyann1

I would do just what you said,get the EA to phone and say as you have just reduced the house from whatever price?? you were hoping for a bit more.They can also phone the other couple and say you've had an offer but if they still want to view then they can as you haven't accepted it yet.
It's good to go with someone with no chain so if you can get a little bit more all the better.
I think everybody goes in with a lower offer than they can really afford so try to get them to increase.

Poppy9

Calm down and stop panicking;)

Talk to the EA about the current offer and tell them you will not accept/decline until the couple tomorrow visit.

icklejulez

Do you think this could annoy the lady who made the offer today? If she thinks she made the offer first. Are people like that! I live on a new build estate so all houses are similar but the competition's houses are more scruffy and we have the conservatory and are not overlooked. So I know they could just go elsewhere but after feedback believe they are much keener on ours. We really need to move soon as we have 10 month old in our room so really want a good offer but cant afford to lose anyone!

Thanks for your views.

Poppy9

It's the EA job to keep interested parties sweet. The EA should explain that you have reduced previously and have another buyer who is making a return visit with a view to making an offer. Rather than accept the low offer today to reject it tomorrow if you have a higher offer then you will wait. Else the EA could tell the person who offered today that if you had an asking price offer you would take the house off the market and no one else would be able to view.

jamminjamaica

take a deep breathe. right now be patient and tell the agent that you would like more hopefully someone else will put another offer on your property. dont be in too much of a hurry.

Doozergirl

Saying that you will not accept an offer until after your second viewing tomorrow will panic the lady that has offered this morning, but is also only fair. What if the other people came in with a higher offer and you'd already accepted something less than asking price?

If anything, it will gear your lady into offering asking price, which, with a starting offer of £119,000 it sounds like she would pay anyway.

Stop panicking - that's the job of your buyer

PoorDave

Doozergirl wrote:

Saying that you will not accept an offer until after your second viewing tomorrow will panic the lady that has offered this morning, but is also only fair. What if the other people came in with a higher offer and you'd already accepted something less than asking price?

If anything, it will gear your lady into offering asking price, which, with a starting offer of £119,000 it sounds like she would pay anyway.

Stop panicking - that's the job of your buyer

This is bang on what i'd do.

You need the person making the offer to know they're in contention, but that someone else is interested too. No need to decide instantly whether to accept

icklejulez

Ive done the above and she came back with 120k as she says that is all that is available to her but as it his her auntie and uncle that are buying she will speak to them when she gets hold of them. The EA has basically told them if this is the case it is unlikely she will hear back untill after the viewing tomorrow. Also made sure the EA makes it clear to the second couple viewing tomorrow that an offer has been put forward and I am waiting till after their viewing to proceed. This will then give them the time before tomorrow to decide what to do. I know its only a small percentage of the asking price but it is a case of every penny counts as we are moving to an expensive area with a bad reputation(not through choice) so the more we have to spend the better the area!

Jorgan_2

Are these buyers having a mortgage or cash buyers? Position as well as figure offfered need to be considered, not just the sum offered. If they are cash, is it cash in the bank or from the sale of some assett? If its from the sale of an assett, how long will it take for the funds to come thru?

What is the position of the second viewers? Are they in a chain?

If you are concerned about loosing the first buyer by telling them you have a second viewing in the morning, you could always buy some time by telling them that you need to discuss it with your partner but can't do that until this evening because of his shift pattern. Also you need to go over your finances again as the offer is less than what you anticipated in taking.

Personally I'd tell them that there is another viewing booked in tomorrow & you want to see the outcome of that before deciding, but if they were to increase their offer you may cancel the other viewing, depending on what the increase was.

icklejulez

Ive carefully thought about position, after watching a million location location locations its drilled into me!!! 1st buyer, a lady is going through divorce so untill her house is settled along with finances her auntie and uncle are buying the house! I presume they are getting a mortgage allthough EA is unsure. 2nd buyer a young family live on our estate and are due to complete on their house on Friday!

I consider both of these to be fairly positive allthough possibly the first viewer in a better position as her auntie and uncle seem clever enough people to know whether they can buy the house. Plus surely they wouldnt of offered if they were unsure.