Would you accept this offer on your house?

bigbigmamamoo

If I was selling my house I'd ask:

does the offer cover my mortgage? If no I wouldn't sell If yes, then I'd move on to

does the offer also provide me with cash over and above paying off the mortgage? If no then I wouldn't accept. If yes then I'd move on to

does the cash provide enough to form the down payment on my next home? If no then I wouldn't accept. If yes then I'd accept

I'd also ask myself whether I thought I would realistically get a better offer and what I would do if I didn't. If you turn this down and the house never sells, or the next offer is even lower, how will you feel?

Pumpkin7

The house is no longer available.
Most of the houses in the new area where my daughters new school is start at the 490k mark for the size our family needs (anything under is normally a flat) . Which of course we believed would be fine as same price as our area.

If we accept this offer our maximum we can offer is 470k meaning we will be 20k under the minimum asking price. So we cold maybe afford only if people on the new area accept a similar drop. It seems a big ‘if’

I think deep down we know it would be too stressful knowing we don’t quite have the minimum funds needed.

Just keen to move for the school, get out of an area am unhappy in and there is the worry there will be no more offers. If only they cold make the extra 20k...

I hope the next house is at least a 10 year house as selling a house is a miserable!

unbeliever

What's the rental market like?
If you could achieve a good rental price why not rent your home out and look to rent in the desired area as an interim?
Or accept the offer and find somewhere to rent and stash any equity away?

flaura

personally speaking if it didn't give me what i needed to buy elsewhere i'd say no....

QTPie

Are there currently any other houses on the market that you like? Could it be worth putting some offers in? Normally I like to avoid chains, but it sounds as though you need to be in one (since you need to have an offer accepted on a house that will work with what your own house would sell for....).

Good luck
QT

Pumpkin7

bigbigmamamoo wrote: »

If I was selling my house I'd ask:

does the offer cover my mortgage? If no I wouldn't sell If yes, then I'd move on to

does the offer also provide me with cash over and above paying off the mortgage? If no then I wouldn't accept. If yes then I'd move on to

does the cash provide enough to form the down payment on my next home? If no then I wouldn't accept. If yes then I'd accept

I'd also ask myself whether I thought I would realistically get a better offer and what I would do if I didn't. If you turn this down and the house never sells, or the next offer is even lower, how will you feel?

Very sensible. We are fortunate that from a mortage point of view it cover it.

Selling a house is like trying to read the future at times- Will Septemeber bring better hope, will things get worse, will my dream buyer be around the corner, will this be my best offer, will I never get another viewer through the door ... so these are the questions that keep me awake at night!

michaels

How long have you been on at 469? Locally prices have softened a lot since the start of the year and properties either seem to sell within a few weeks of being listed or sit unsold despite multiple price reductions. If you were in this area I would say that the 430 sounds as much as could now be expected for a property that would have been marketed at 499 in Feb/March. are the properties where you want to move to sticking or selling quickly without reductions - this should give you a very good view of whether you will get a reduction.

As far as I know there is nothing stopping you accepting the buyers offer subject to your finding a place to move to - if they are that keen and think they are getting a bargain they will wait for you and once they start incurring some costs they will be even more loathe to pull out - and then if you can't get someone to reduce to a level you can afford you can always pull out of your sale - unethical possibly but who says life is fair and for all you know your buyer could go higher and is just spinning you a line about 430 being their max - I know I did the same on my purchase to try and save about 10k

Pumpkin7

michaels wrote: »

How long have you been on at 469? Locally prices have softened a lot since the start of the year and properties either seem to seel within a few weeks of bein glisted or sit unsold despite multiple price reductions. If you were in this area I would say that the 430 sounds as much as could now be expected for a property that would have been marketed at 499 in Feb/March. are the properties where you want to move to sticking or selling quickly without reductions - this should give you a very good view of whether you will get a reduction.

As far as I know there is nothing stopping you accepting the buyers offer subject to your finding a place to move to - if they are that keen and think they are getting a bargain they will wait for you and once they start incurring some costs they will be even more loathe to pull out - and then if you can't get someone to reduce to a level you can afford you can always pull out of your sale - unethical possibly but who says life is fair and for all you know your buyer could go higher and is just spinning you a line about 430 being their max - I know I did the same on my purchase to try and save about 10k

We came onto the market in June so I guess its not been ages, but I guess it is no longer a 'fresh' property.

From what a can gather on property bee most houses in the area we want to be in seem to take quite a while to shift . But there is way less for sale now as a majortity sold over the summer.

I know with these buyers that they are keen to move in asap as there own sale is just about to complete and they want to move quickly for the sake of their own childrens school which as a mum I understand.

I dont mind having to move out quickly so much as one very lucky thing is is that my father lives in the area we want to move in so we could stay with him... if thats bearable! Living with my dad again.. oh dear....

The buyer is on hoilday right now so we have told them we are considering the offer. I think we will book in some vieiwngs over next few days, if anything is right for us we will put some offers in and see what comes back. If noone will drop their price I guess we have our answer

Pumpkin7

Just out of interest, when looking at the area we want move in for the sold prices on Zoopla etc- which year's prices give the best reflection for what you should be paying in this market?

john_white

3 offers in 2 months is good going.

Ignore the %age side of things, people on here seem to think every house is overpriced by x % and an offer of x% will guarantee acceptance. Every house/srea is different. Personally I'd hold on a bit longer as the house clearly seems sellable.