Would you accept this offer?

clairey179

Looking for opinions please..........:)
Situation is, flats been on the market for slightly over 2 weeks, 6 viewers, 3 2nd viewings and one offer on the table. Offer is around £4k less than we'd like, but they are totally flexible with a date of entry etc, and happy for us to take washing machine, fride, curtains etc, which is what we were hoping for.
Solicitor v happy with the offer, mortgage already agreed, buyer has nowhere to sell and deposit in place. They don't want a survey and are happy with the home report.
My main concern at the moment is that there's nowhere that we want to buy within our price range.........
Would appreciate other people advice/opinions - never sold before!
Thanks

hcb42

If you really want to sell it sounds fine.

It is generally easier to find something to buy, compared to trying to sell. You have done the hard bit hopefully

moneybunny123

I'd bite their hands off.

KateLiana27

They sound like ideal buyers, and well worth the £4K discount in this market.

I'd take the plunge and then move to rented if necessary. You'd then be ideal buyers yourself and can pick and choose a great house without the pressure of having to be in a chain.

clairey179

Thanks for the advice thus far. We do want to sell......but that was when there was 2 houses that we really wanted on the market (just last week - and they'd both been on for months !) There's just nowhere I want to move to without getting a rather hefty reduction on some more expensive properties......seems a bit unlikely though. Unfortunately we'd have an early repayment charge of about 2k if we don't port the mortage over to a new house.
Think we'd assumed this would take months rather that a couple of weeks, and we'd be more organised!

cazuk11

I would take it too... I suppose it is all relative though to how much the house is. If it's a £500,000 house, £4k isn't that much... If it's a £100,000 house, £4k is a lot of money. Sell and then move into rented. Don't rush to buy a house x

Mallotum_X

id bite their hands off too, and try and get exchange asap

hcb42

your buyers are flexible though - you can still try and marry up the selling/buying dates to make the mortgage porting easier.

clairey179

It's 4k off of a 114k property....if that makes any difference? Might try for and get a bit more money maybe? It's not been on the market long I suppose. Would it be worth getting the estate agent to chase up the other viewers who seemed keen and letting them know an offers been made? Is this the 'done' thing?

mustang1

How long do you have to port the mortgage? Most lenders give between 3 and 6 months so that may be some grace time for you to rent somewhere and find somewhere else before the ERC kicks in.

I agree with others that it would seem so much easier to buy when you are out of a chain (not that I've done it yet but my sister has just decided to rent hers out after 6 months of trying to sell and has now had an offer accepted after 3 refusals)

KateLiana27

clairey179 wrote: »

It's 4k off of a 114k property....if that makes any difference? Might try for and get a bit more money maybe? It's not been on the market long I suppose. Would it be worth getting the estate agent to chase up the other viewers who seemed keen and letting them know an offers been made? Is this the 'done' thing?

Hmm, personally it would put me off to have an estate agent call and tell me another offer has been made on a property I had shown interest in (unless I had specifically asked to be notified). I would assume (wrongly in this case) that it was EA scaremongering and I would most likely not offer. You can, however, have the property marked as "under offer" on the EA website if an offer has been made but a sale not yet agreed, so those interested can see for themselves.

You're well within your rights to say no to any offer below asking price if you aren't ready to accept it. You haven't been on the market a month yet have had lots of interest, which suggests to me your place in keenly priced and you may well get a similar or better offer later. Though not guaranteed - so it just boils down to which risk you want to take