Offer on our house but can't find anywhere !

mumof3boys

Hi after some advice !

last night we had an offer on our house - we haven't as yet accepted it because the house we were going to put an offer on this morning has been taken off the market today!

Our offer is 8% below our asking prices so not wonderful but was ok with the house we were looking at.

The problem is now that there aren't any houses in our price bracket and we don't know what to do !

Agent obviously wants us to accept the offer and hope something comes up, What happens if we do that and then have to say no ? How long is long enough not to mess buyer around ? house hunt for a week ? two ?

I don't want to lose buyer but don't want to mess the poor man around either!

If we say yes and then no are there any costs to us ?

Dont want to go into rented as we have three children and there are hardly any four bed rentals around !!

Help! am stressed out already !

adindas

mumof3boys wrote: »

Hi after some advice !

last night we had an offer on our house - we haven't as yet accepted it because the house we were going to put an offer on this morning has been taken off the market today!

Our offer is 8% below our asking prices so not wonderful but was ok with the house we were looking at.

The problem is now that there aren't any houses in our price bracket and we don't know what to do !

Agent obviously wants us to accept the offer and hope something comes up, What happens if we do that and then have to say no ? How long is long enough not to mess buyer around ? house hunt for a week ? two ?

I don't want to lose buyer but don't want to mess the poor man around either!

If we say yes and then no are there any costs to us ?

Dont want to go into rented as we have three children and there are hardly any four bed rentals around !!

Help! am stressed out already !

If you think it is worthy to delay it for one or two weeks you might use delay strategy. Ask your EA to request the prospective buyer to supply documents such as proof of deposits, bank account, salary slip,

It is worthy to do this, as you suppose to do this anyway to prevent you wasting time and money. If the prospective buyer does not want to supply this, the his offer is not worthy of consideration. So better to loose him.

jackomdj

Have you thought about putting a note through the door of the house you are interested in? They may have taken it off as they had no interest.

You will not incur any costs. We took 2 months before we pulled out because the person we were going to buy from could not find anywhere else.

Littleweedj

In the current market I would jump at any reasonable offer as you don't know if or when you would get another.

Why do you need to rent a four bedroom house......if it is only for six months could you not just make do with renting a three bedroom place?

It would then give you these months to have a good look round and take your time in choosing your ideal next property. Plus the way house prices are going at the moment it may mean you would save in the long run by getting a better deal yourself. (unless you live in the South East of course)

With regard to advising the person that you are unsure about the offer I believe in "do as you would be done by" and let him know your decision asap.

Lastly, do you know the reason the house you were thinking of offering on has been taken off the market. There are all sorts of temporary reasons and just perhaps there is the possibility of it being readvertised again. I know of at least two properties which did this.

Panda78

Is he a FTB? If so, he might not mind waiting for you to find a place anyway.

Ultimately you have to protect your own interests, even though i'm in the buying position and can see the other side to this with the worry of lost fees if you pull out. I'd accept the offer and keep house hunting. Good luck.

mumof3boys

Thanks for the responses !

The house we liked has been bought by someone else - sorry didn't explain ! They have shorter chain and made offer on wednesday.

Have to rent four bed house as we both work from home and need an office - extra room not for kids !

Nice to know there are no costs though -but i dont want to mess buyer around.

Btw I do live in the south east !!

Am thinking about being honest with buyer and say give us two weeks to find something !

mumof3boys

He isn't an ftb but has a cash buyer for his.