Putting in an offer

pm13

Myself & my partner are selling both of our flats with the view to buy a bigger property.

My flat is under offer at the moment & his is still on the market.

We queried about a property that we saw with the same estate agents we are using & they informed our solicitor that they would not be prepared to consider an offer from us at the moment as my partner's property is not under offer.

I was confused by this as surely you should be able to put in an offer whilst waiting for your property to move? We stay in a popular area so his flat will get sold relatively quickly. My sale was a fluke given it had only been on the market a week.

Has anyone else experienced this?

justjohn

sellers prerogative, sellers and buyers can demand/request many things.

however think its a bit silly not to hear on offer from a buyer. they could always continue too market lol

EA's often ask me , how I intended to finance a purchase. really not keen on that question.

Mr_Moo_2

Nothing to stop you from making an offer, but if you're not in a position to be able to proceed then the offer will not be considered seriously by the vendor. They may note your interest but any sensible seller will continue to market the property for an offer from someone who is proceedable.... So focus on getting that flat sold.

hazyjo

You weaken your position by offering when you're not proceedable.

If it does take a while to sell the flat, the one you want might still be on the market. Would you be offering the same price in say 6 months' time?

What if someone offers low and you can accept it if the vendors will take a cut too? I did that on my last purchase. Couldn't have done it if we'd agreed an offer already!

Also, people want what other people desire. It's human nature. If you have an offer sitting on the property, other viewers are likely to see it as desirable.

Finally, if it does take a while, the vendors are less likely to reduce the price in a few months if it hasn't sold knowing there's an offer on the table, quite possibly for more than they'd have to drop to!

Just wait until you're proceedable, but get everything prepared in the meantime (AIP, etc).

btw, everyone thinks their property will sell quickly lol!

Good luck.

Jx

mrsmchapman

Your not in a position to start the moving process with only one place under offer. You need to wait until both are under offer as this will put you in a better position. You will know exactly what finaces you have in place for the move and also on the sellers part, why would they accept an offer, if could take you weeks or months for the second property to come under offer.

pm13

thanks everyone for your help.

I guess we'll just have to hold off until we get some more interest in my partners property.