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Wrong way round
Comments
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helencbradshaw wrote: »i wouldnt have entertained an offer , personally!
No, me neither - but the vendors are fully aware of the OP's situation, and property is still being marketed so the vendors have lost nothing by agreeing a conditional offer.0 -
or they have paid him/her lip service...0
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Hi,
the seller may be in the same situation, whereby needs to sell before he can buy, in fact, there could be a whole chain, and chains break.0 -
I don't see it being a problem, you've been honest and the EA knew your position.
However, you could simply say "I've had an offer 10% less, would the seller accept at 10% less?"
Infact, I think this is a good strategy. I've never bought and sold at the same time, but I like the idea of offering on a house at near the asking price (assuming it's not a stupid price), making it clear you have your own house to sell (hence the house is still on the market). When you get an offer at 10% (or whatever) less, just pass the offer on and ask for 10% off on the next house.0 -
so it isnt an offer then? it is an offer less 10% or whatever?
I stick to my original thoughts, this is not a serious offer!0 -
[Deleted User] wrote:Hi,
the seller may be in the same situation, whereby needs to sell before he can buy, in fact, there could be a whole chain, and chains break.
The vendor is in the same position - couldn't be a chain otherwise. So vendor also has a conditional offer on the property they want to buy.
OP - have you actually had an offer on your property for 10% less or are you thinking of reducing the price by 10% in order to try and increase the chance of getting an offer? And the folks you want to buy from may have to reduce their price anyway if they want a chance of getting the property they want.0 -
Hi,
helencbradshaw and Incyder, I find your rather acerbic comments not very helpful to OP.helencbradshaw wrote: »walk away and sell your own before you go househunting again
Most folks have to sell first to buy, it's just getting the timing right.You are in fantasy land as you have no money
Not everybody is sitting on a pot of money, just waiting to buy a house.0 -
I think you should say you're having to withdraw your offer as you can't sell but are reducing the price and are still hoping for a sale soon so you can put another offer in on the house once you're in a position to do so.
It makes absolutely no difference at the moment whether you have an offer sitting on the house or not. The longer it sits there, the less likely they are to accept a lower offer from you, or drop the price.
If they've been marketing it still (which you say they have), they will sooner or later have to accept they're getting no other interest at whatever price they're marketing it at, and will have to drop to the price. That will go in your favour.
Obviously the market has changed and, once you get an offer, don't accept it until you speak with the vendors of the place you want to buy - then say would they be willing to accept £X for the house - if so, you have an offer you can accept which is (probably) lower than you initially wanted for your house. They'll be more likely to accept then.
Hopefully then things can be tied up. You're in a good position at the mo in that you can say you have found somewhere to buy. Is the top of the chain complete? You would need to tell anyone this who's putting an offer in on yours as nobody should start the buying process until the chain's complete - or the top of the chain agrees to move out into rented or whatever.
Jx2024 wins: *must start comping again!*0 -
...you havent quoted me in context....[Deleted User] wrote:Hi,
helencbradshaw and Incyder, I find your rather acerbic comments not very helpful to OP.
Most folks have to sell first to buy, it's just getting the timing right.
Not everybody is sitting on a pot of money, just waiting to buy a house.0 -
Thanks everyone. I appreciate all your viewpoints (both positive and negative). No need to post anymore replies - I am clear on my next steps. Thanks again0
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