Making an offer?

hyposmurf

We've found a property we would like to purchase.The seller of this property wants to move to new build property so no chain,but wants to move as soon as they can to be with family.Currently we have our property to sell.We have a buyer who is interested and has agreed to the price of our property,but is currenly waiting to find out if they can get further funding to get a more attractive mortgage rate.
If I make an offer on the property that we would like to purchase,where do I stand?Is the seller likely to be advised by the agent not to accept the offer as our buyer doesnt look firm enough yet and hold out for another buyer?Could they accept our offer?
Can I put down a deposit on the property we would like to purchase? Could I loose this and how does it work?If my buyer drops out could the deposit be lost or refunded?
Whats my best foward in this situation?

hcb42

I dont know whether the seller will be advised by the agent - many sellers can make their own mind up!

Are you still marketing your house - what if the finance falls through?

You dont exchange until all parties are ready and finance in place - you dont therefore pay deposits to private purchases until you are ready to move forward either.

yes you could lose it, many deals fall through. I would put some pressure on your buyer to get their act together instead of wasting people's time

hyposmurf

Thanks Ive tried to find out from my agent where my buyer stands,but am awaiting a reply.Yes I would like my buyer to speed up but at the same time I dont want to over hassle them and they get cold feet.

hyposmurf

How would I be best to inform the agent of the property I want to buy of my situation?I have a buyer who's agreed a price on my property,but sorting finances?Or I have a buyer?Or have an interested party?What Im worried about is losing the property to another buyer,if my situation doenst sound attractive enough to the seller.