Help Me Sell My Elderly Parents House

the_greed

Thank you to everyone for their help and advice. A young couple came this morning to view the house and as soon as they came in I knew they were well interested, they were born and brought up in the town, have just sold their flat yesterday and know that it is the best area in the town. They have been looking at new builds and know that this is a better house and can seee the potential for extension etc. Two minutes after they left I received a phone call from the estate agent to say that they had put in a verbal offer well over the asking price and as the office would be shutting in ten minutes they have left my dad to think about it over the weekend. The offer is 23% above the asking price, my brother and I think it is a good deal, my dad is thinking about it. My brother and I think that if the offer comes in in writing my dad should accept. That, then would be that. No more visitors to the house, not much chance of them pulling out and my dad can well afford to buy his other house with plenty money left for mum and him to live on. The thing is my dad does not know what to do , hold on until another offer comes in or say he will accept if a written offer comes in from this couple. I know that it is entirely his decision but we all think he should accept. It is not as if he will be wasting his money on a depreciating thing like a car or anything, the money will still be counted in his savings, only in a different way.

clutton_2

23% above ? bite their hand off immediately !!!! peace of mind is worth a lot ! - however, i would continue to market it - just in case this couple cannot get the finance organised - i go along with "selected viewings on a saturday afternoon" when you can take mum and dad out and no one in the family needs to meet the "moochers" and "noseys"

good luck

Tiger_greeneyes

I agree, 23% is excellent!

the_greed

I am over the moon regarding the 23%, I personally would accept but my dad is always looking for the day he will never see. However, we are going to have a talk tomorrow and I am going to try and persuade him to accept. I think he will, but he just wants to be sure and wants to have a word with the estate agent on Monday. As I stated previously the estate agent has been great with them but they have a fee to collect so I don't know what they will advise. You see, I think that if he decides to leave it open a bit longer (there is no closing date) there might be other offers. The first couple in the meantime might think that they will have no chance with this sealed bid system and withdraw the offer. Then on the closing date, when the sealed offer is opened the highest offer might be lower than the original couples. The fact that this couple have sold their house is a benefit. Somebody might come along with a higher offer which is accepted but then may have to pull out because they can't raise a mortgage or get their own house sold and then we are back to square one. I just want my dad, especially to realise that piece of mind is a great thing. I want this to be as stress free as possible for them, they are getting on a bit, have all their faculties, they are both deaf and my mum has really bad sight.

peter999

the_greed wrote: »

...put their house on the market this week as they are hoping to move to a smaller cottage near to where I live.

It's only a week, give people a chance.

peter999

lynzpower

is 23% over asking price not quite standard in Scotland?

Have you loked on nethouseprices to see what other houses in the location have sold for recently?

mchu6am4

the_greed wrote: »

I am over the moon regarding the 23%, I personally would accept but my dad is always looking for the day he will never see. However, we are going to have a talk tomorrow and I am going to try and persuade him to accept. I think he will, but he just wants to be sure and wants to have a word with the estate agent on Monday. As I stated previously the estate agent has been great with them but they have a fee to collect so I don't know what they will advise. You see, I think that if he decides to leave it open a bit longer (there is no closing date) there might be other offers. The first couple in the meantime might think that they will have no chance with this sealed bid system and withdraw the offer. Then on the closing date, when the sealed offer is opened the highest offer might be lower than the original couples. The fact that this couple have sold their house is a benefit. Somebody might come along with a higher offer which is accepted but then may have to pull out because they can't raise a mortgage or get their own house sold and then we are back to square one. I just want my dad, especially to realise that piece of mind is a great thing. I want this to be as stress free as possible for them, they are getting on a bit, have all their faculties, they are both deaf and my mum has really bad sight.

Good Luck. Tell u'r dad to accept it and give the couple a chance to book survey/apply for mortgage etc - as if you continue to market it, it puts off alot of people (especially if you don't even give them a chance of a week or two).

BTW, can you write in paragraphs please? - Its very difficult to read :rolleyes:

Tiger_greeneyes

lynzpower wrote: »

is 23% over asking price not quite standard in Scotland?

Have you loked on nethouseprices to see what other houses in the location have sold for recently?

It is lately because in some parts the market is booming.

Normally you can expect to pay somewhere between 10 & 20% above the offers over price.

jennifernil

In many areas the premium is 25-50%!! But on a house at £89950 23% is pretty good. I would enquire first if they have a mortgage AIP, that is normal here,not that it is your dad's problem, and insist the offer is made through their solicitor. If he/she is on the ball it will be valid for say 48 hours. It may well be made "subject to survey". The fact they have sold their flat means they are serious. Once an offer is accepted in Scotland it is not normal to continue marketing the property.

RedTomato

lynzpower wrote: »

Have you loked on nethouseprices to see what other houses in the location have sold for recently?

I agree, have a look on nethouseprices.com and see what other houses have sold for in the area. As you seem to know the area really well you'll probably be able to recognise a few. Hopefully the price will look right and set your mind at rest.
Good luck.