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

PasturesNew

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.

I'll buy yours - just take it off the market and wait until I get a job so can get a mortgage.

Going to? No, thought not.

Grimbal

sunniehol wrote: »

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.

Afraid not OP. I'm on the market, and have an offer in writing made by a couple who, although on the market themselves, are as yet not under offer. I've thanked them kindly for their interest, but made it clear that I will not start negotiations with them until they are procedeable. If I were you, I'd be happy enough that your vendor has seen fit to discuss prices with you at this point!

Don't forget as well that, if/when you do sell your home & make an offer again on the new place, the vendor is still able to continue marketing her home as available. It's only at exchange that things become fixed.

sprocker1

We did exactly the same thing when we bought our last house.

Viewed it, (but ours wasn't on the market) and put ours on the market the same day.

We put in an offer as soon as ours was "up for sale", which was rejected, I had a frank chat with the estate agent, along the lines of "ask them how much they want"

Suprisingly they came back with a figure 20k under the asking price. (its an end town house, 8 months earlier the one next door but 2 had sold for 40K more than they accepted??!) And we simply had a letter from the estate agent, stating that the offer was accepted in principle, and that it would remain on the market untill ours was under offer.

I made it quite plain to the estate agent, who was selling both ours and our new home. that if we didnt get the property we would withdraw ours from the market.

I did have 3 valuations, and our estate agent was slap bang in the middle, within 12 days our house was sold and solicitors instructed, and 10 weeks later we moved in.

I would be tempted to put your house up for sale with the same agent as is selling the one you want, that way the agent (if he sells yours) is guarenteed 2 lots of commision........

This senario certainly made our agent work very hard!