Our buyer

Dan-Dan

Morning

If you lived in a bungalow that had had fair interest from various corners of your grandmas life , before she passed , and one of them said they would offer xxx for it , having apparaently waited patiently for years for ours to come up...but would need to sell theirs first....but would "price it to sell" and hasnt got a mortgage to pay off...

If ,three weeks later there had been minimal interest and certainly no offers on that house , would you start getting concerned or would you just wait longer ?

Would you push the potential buyer to start looking at the asking price etc

Bearing in mind that we are stuck until where we live is sold ?

Thanks

moneyistooshorttomention

Errrmm...I havent had my first coffee of the day yet....and I've just re-read this twice trying to get it clear in my mind exactly what you are saying.

Any chance of a re-phrase?

LandyAndy

moneyistooshorttomention wrote: »

Errrmm...I havent had my first coffee of the day yet....and I've just re-read this twice trying to get it clear in my mind exactly what you are saying.

Any chance of a re-phrase?

:rotfl:I thought I almost had it until the last sentence.

OP. Just state the facts and ask a question.

Dan-Dan

By the time i had written this thanks to a 1 year old and 3 year old who think BST has started already , i was on my second cup of the day!!

Basically , led to believe our buyers house would be priced to sell , accepted an offer on that basis 3 weeks ago , since then , no viewers for her , no offers and the house is £30k upwards of what she told me she would let it go for

She even tried to get me to buy it with a deal totalling £355k (agreed offer on ours is 320k) so am dubious she is confident she will sell it for what she wants

Question , how do i word to her to make changes to encourage viewers/offers ?!?

Fishingtime

I hope you word it better to her, Than you have worded it to us.

Dan-Dan

If i didnt want help wording it to her , i wouldnt be on here asking for advice , would i.....

kingstreet

You accepted an offer from someone not in a position to proceed?

Why?

I suggest you seriously market the property telling your "buyer" they will be taken seriously when they are in a position to proceed. Right now, their offer is meaningless and I presume if someone in a better position came along, you'd sell to them instead?

No sentiment. This is a business transaction.

Davesnave

I understood first time around, but I'm a former expert in primary school English! :rotfl:

In the circumstances, I think you need an agreement which gives her a set period to market her house and receive a proceedable offer. If she cannot meet that deadline, you will advertise. It sounds like it needs to be quite a brief period too!

At present she isn't a 'buyer,' just someone who would like to buy. She may not be able to sell at a price which would enable her to make the move.

When we bought our second house from friends, we wanted to be sure that it was the best house available for our purposes. They agreed on a set period for us to view other properties, and at the end of that we gave a firm commitment to buy.

Dan-Dan

Davesnave wrote: »

I understood first time around, but I'm a former expert in primary school English! :rotfl:

Made me spit my coffee out , thanks mate :beer:

moneyistooshorttomention

Davenave's idea could be a goer.

In fact I think I might borrow that idea myself if need be. I am visiting Area To Be soon with intention of buying a house whilst there. If my own house hasnt sold by the time I go househunting there - I think I might propose to my vendor that they give me 3 months of having me in place as the agreed buyer whilst I sell my present house and that should be enough for me (as houses of my type in my present area sell in a median time of 2 months - but houses of any type in that area take ages and ages and ages to sell...so a Buyer Agreement for 3 months should cover that).

How long a Buyer Agreement lasts for will depend on how fast, I would say, the median length of selling time is in your area.

Will try and check for the name of that website where I found the up-to-date statistics on that...

EDIT: Found that website - its on www.home.co.uk

Dan-Dan

kingstreet wrote: »

You accepted an offer from someone not in a position to proceed?

Why?

I suggest you seriously market the property telling your "buyer" they will be taken seriously when they are in a position to proceed. Right now, their offer is meaningless and I presume if someone in a better position came along, you'd sell to them instead?

No sentiment. This is a business transaction.

To be honest Kings , i think we were a bit hopeful/Naive..........and now , as she knows we are FTB`s that she thinks she can string us out , not with any bad intentions but just long enough that we keep the bungalow off the market

Thing is, it didn’t seem like a meaningless offer at the time because we shook hands on her house selling at a price `to buy` as in not top end, it was implied she had no mortgage and thus as long as she could obtain what our bungalow is agreed at, she was confident of a quick sale at her end, and was even confident enough in being able to pick the right proceed able buyer

ALSO , her Dad lives next door to us , and she cares for him , so it worked all round....problem now is , of course i should have seen it coming , myself and the wife are under pressure to settle the estate and of course , have ourselves found a couple of places we are serious on and now find ourselves stuck

But the thing is , when she emailed me last week to suggest mortgaging the other beneficiaries side of the bungalow PLUS 30k , I knew then we had some problems , because this valued her house to her at 350k , which doesn’t stack up to the verbal agreement we had (as in £320 and her house would go) , she also knows our family so she knows our target area , and our rough target price , neither of which are even close to be able to stretch to the deal she offered...

More worryingly, that sort of offer makes me think that she is concerned she won’t sell...

All`s i was after really was, do i be ruthless, swallow potential EA fee`s and get the place marketed, ASAP

It seems the answer to that is yes , I’m not scared of upsetting her ,or anyone else , but i did want to run it past others because essentially i have to look out for my brood , no one else’s , in this situation