Have you made an offer on a house to buy, but your own not yet sold?

advice_please_2

Obviously best would be to have own property sold but anyone tried putting offer on a house when yours hasn't sold yet?

Nynaeve

I am a FTB so don't have a property to sell but in regards to your question, on viewings I have questioned the owners and some of them put offers in on houses before they sold their own. In all cases but one the sale fell through because they couldn't find a buyer.

The one that didn't fall through is the one we are interested in and knowing they have an offer accepted somewhere makes me more inclined to offer less because I know they won't want to lose the house they have lined up.

I guess what I'm trying to tell you is, sell first!

kingstreet

As a vendor, I wouldn't accept an offer from someone not in a position to proceed. Doing so places unnecessary pressure on both parties and having accepted such an offer, if someone better placed did come along, I'd certainly consider selling to them instead.

PasturesNew

Until you know you can buy a house, why'd you waste everybody's time making offers? Yours might not sell, or might not sell for months, or might sell for a lot less than you want/need.... and 1000 other things.

Let the people know you're interested, but haven't sold yours, by all means... but until you're in a position to buy why'd you go throwing offers around?

Many sellers have even been known to refuse viewings to people who are not in a position to buy as it takes a lot of time/effort/disruption for many people to let viewers round.

BigAunty

As a vendor, I really hate people viewing my property in the first place when they are not proceedable, I consider them timewasters. I never view properties on the market unless I can actually go forward and buy them.

My sister was stupid enough to accept an offer on her property and then found that the buyer was divorcing her husband and having to take him to court to force the sale of their former marital home, so not only was her property not on the market, her ex was resolute that it was not going to sell. Double time-wasting.

advice_please_2

Thanks for the replies

What stage would you make offers when your own is sold STC or actually sold?

kingstreet

When you've agreed a sale of your own property and solicitors have been instructed, you should then be in a position to offer on a new property. This is going to be the minimum the agent is looking for when it establishes the chain is complete.

advice_please_2

What do the solicitors do at this stage?

bobula

But then define proceedable ?

Im having my offer withdrawn because i cant give a formal mortgage offer 12 working days after offer accepted.....

Im a ftb with no chain .......

If im having hassle then surely wi a property to sell youd be out of he running in a shot

kingstreet

advice_please wrote: »

What do the solicitors do at this stage?

When a sale is agreed, the agent forwards a sales memorandum to both solicitors and the purchaser and vendor. The vendor's solicitor then forwards a draft contract to the purchaser's solicitor to enable searches to be requested.

Vendor's solicitor would normally also send fixtures and fittings forms to his client for completion.

While this is going on, purchaser is applying for mortgage and having mortgage valuation and, if required, a survey carried out.

kingstreet

bobula wrote: »

Im having my offer withdrawn because i cant give a formal mortgage offer 12 working days after offer accepted.....

You have a strange vendor. :eek: