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Better Offer Problem
Lesmix
Posts: 18 Forumite
Hi we're currently selling our home and have verbally accepted an offer (quite low) about 2 weeks ago. This buyer has neither a mortgage in place or a solicitor instructed and they don't seem to be in a great rush to do so.
Today we've been made a better offer on the house through another EA.
Will we owe the original EA any money if we go with the new offer? They state we will be liable if a buyer is "Ready, willing and able to proceed..." but since their offer was accepted nothing concrete has happened from their end.
Thanks in advance.
Today we've been made a better offer on the house through another EA.
Will we owe the original EA any money if we go with the new offer? They state we will be liable if a buyer is "Ready, willing and able to proceed..." but since their offer was accepted nothing concrete has happened from their end.
Thanks in advance.
0
Comments
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The earlier buyer is ready.
Willing is questionable
As is Able.
You need to find out whats happening after 2 weeks of nothing, I'd be getting concerned as a seller. I would get your solicitor to speak to the buyers solicitor as the EA's position is compromised by the fact he only gets paid if the answers are correct!I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
You need to read your ea's contract to see what terms and conditions you signed up for. If only listed with one ea, normally you are tied in for a period and will be liable for fees on any sale. If multiple agency then the contract needs to be read very carefully.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
Tell the first EA that you have had a better offer and would his/her buyer care to match it (whilst reading through all the paperwork as previously advised). The first buyer may simply disappear...0
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Hi we're currently selling our home and have verbally accepted an offer (quite low) about 2 weeks ago. This buyer has neither a mortgage in place or a solicitor instructed and they don't seem to be in a great rush to do so.
Today we've been made a better offer on the house through another EA.
Will we owe the original EA any money if we go with the new offer? They state we will be liable if a buyer is "Ready, willing and able to proceed..." but since their offer was accepted nothing concrete has happened from their end.
Thanks in advance.
Are you chain free? Or have you find somewhere to buy yet?
Our purchase didn't move at all for the first two weeks, until the vendors stated they'd be prepared to move into rented accommodation if they don't find somewhere suitable... we've since (yesterday lunchtime) sent our forms back to the solicitors, arranged a survey and paid the mortgage advisor to arrange the valuation.You were only killing time and it'll kill you right back0
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