Offer accepted but not willing to take off market as I have one to sell.. what to do?

sunniehol

Need suggestions of what to do next, basically a house went on the market on Saturday, I saw them putting the for sale sign up so I viewed it straight away, put an offer in of the asking price which was accepted. However, as I have a property to sell (it's going on the market this week) the vendor is not willing to put 'under offer' on the internet sites and will continue to view the house to others.

I know that this will be a quick sale (she's keen to move due to family circs and has reflected this in price - she's put the property on the market for £10k less than others for sale on same estate, this is in A class condition also). I know it's had a lot of interest already but surely my accepted offer counts for something! If someone comes along and offers the same who has no chain or property to sell, have I basically lost the house? This doesn't seem fair, I've put the offer in, it's been accepted after all. Surely it's mine on the basis that I sell mine quickly. I've never sold before so I've put mine on straight away at what I think is a reduced rate in the hope that it sells quickly.

sinbad182

The vendor has to look after number one. Theres no guarantee yours will sell quickly, and your offer isnt legally binding.

CLAPTON

in the current climate many people do not make an offer until their own home is already under offer

your offer is subject to contract; you can withdraw at any time and so can she

she is being very straightforeward with you by making it clear she will leave the house on the market ... essentially if this is unsatisfactory to you then it's best to do nothing until your own house is under offer

TrickyDicky101

Hi

I'm in the same situation as you (although i have held off making an offer) as i was advised by the good people on here (and by several estate agents) that whilst i am not proceedable, no-one in their right mind would take their house off the market. You don't know how long it will take for your house to sell no matter whether or not you feel it's at a cheap price. All you can do is keep your fingers crossed that this house doesn't sell in the meantime. Likewise, I am doing the same with the place i want to buy.

Quirky6000

Sounds fair enough to me.

If I was selling I certainly wouldn't take if off the market for someone who is yet to market their own home. Where's the guarantee yours will sell quickly, if at all?

gauly

Your house might not sell for six more months for all the vendor knows! And I would argue that she hasn't really accepted your offer yet. We had an offer from somebody who hadn't sold their house and we did "accept" their offer, but only in the sense that we said that their offer would be acceptable once they sold their house. In the end a first time buyer came along so we sold to them for the same price. This is why most people don't look at houses until they have sold their own home.

firstaspect

I wouldn't expect anyone to accept an offer I put in if I still had a house to sell and if they did would expect them to keep it on the market. Until you have an offer on your place then you're not really in a good position to offer on anything else.

betmunch

The people selling the house you want are doing the right thing.

However, why not speak to them about a period of grace, maybe a week or two, that they wont accept new viewings while you sell yours. If you put yours on the market for 10K less than what it is worth then you will sell just as quickly and everybody wins.

If I was the person selling the house you wanted I would agree to this, however I total understand that not everyone would.

harz99

sunniehol wrote: »

Need suggestions of what to do next, basically a house went on the market on Saturday, I saw them putting the for sale sign up so I viewed it straight away, put an offer in of the asking price which was accepted. However, as I have a property to sell (it's going on the market this week) the vendor is not willing to put 'under offer' on the internet sites and will continue to view the house to others.

I know that this will be a quick sale (she's keen to move due to family circs and has reflected this in price - she's put the property on the market for £10k less than others for sale on same estate, this is in A class condition also). I know it's had a lot of interest already but surely my accepted offer counts for something! If someone comes along and offers the same who has no chain or property to sell, have I basically lost the house? This doesn't seem fair, I've put the offer in, it's been accepted after all. Surely it's mine on the basis that I sell mine quickly. I've never sold before so I've put mine on straight away at what I think is a reduced rate in the hope that it sells quickly.

Its very simple really; unless you are able to proceed with the purchase independent of your sale, your offer is virtually worthless.

In the current climate nobody is going to take their property off the market in that situation.

You need to have a proceedable buyer for your property - its as simple as that.

henpecked1

i am not sure what is more frightening

1) you actually thought they would cease marketing until you sold yours or
2) you put ina full price offer.

rosyw

I had two offers on my place, one much higher than the other, but chose to proceed wityh the lower one as the buyer was able to proceed immediately, the higher offer was from someone in the same position as yourself, that was 3 months ago and they still haven't sold despite reducing the price on their property. Hopefully I will be moving in about 3 weeks time, had I taken the higher offer I would be stuck here for goodness knows how long. Put yourself in the vendor's position and ask yourself what you would be doing. I didn't even view any properties until I had a buyer as I knew I would not be taken seriously, but with a buyer in place and no mortgage required it was avery different story!