We accepted too low an offer - help

AMILLIONDOLLARS

Bare in mind moving into rented is an extra expense you can't afford, plus it might result in you moving further down the property ladder if you can't save any extra money whilst you're searching for your new home. As far as I can see the only ones benefiting from this situation is the EA and the Buyer!.

AMD

Loopgames

How much are we talking about exactly, and can't you offer a lower price for houses you like. After all you are in a good position to buy having got a buyer.

cattie

A friend of mine found herself in a similar position. Felt pressured into selling her house at a lower price than she really wanted as she had just lost her original buyer. However, she couldn't find anything else on the market in the area that she wants to go to at a price she could really afford and those she did see needed loads of work, which equals big money.

Her buyer seemed to be dragging his heels and I urged her to pull out of the sale but she was reluctant because of the principle involved. Anyway, realising there was no way she could afford to go into rented with the low price she had agreed on for the house, she eventually told the ea that she couldn't continue with the sale as it wasn't financially viable. Her house is now back on the market at the original sale price, but she knows what the minimum offer price is that she wants and is determined not to let the ea put any more pressure on her as far as this is concerned.

Gromitt

Normally there's a workaround if you don't like the EA. It goes like this: You reject the offer on the grounds that it would not be financially sensible for you to carry on. Then you increase the price of the property above the recommended asking price. Once your minimum contract period expires (normally about 6 months I think?) you can advertise with another agent at a lower price. Whoever sells it first gets the commission, but the agent you don't like gets the handicap of a higher starting price