Weighing up potential buyers

bluep

We've got a couple of competing offers on our house (very happy!) but I think they'll end up all being around the same price with perhaps £1-2k to separate the parties. One lady is a bit worrying in her attitude from what our estate agent has said (quite pernickity) but in rented accommodation, good deposit and small mortgage already approved. The other buyer has accepted an offer on her house from a FTB who is in rented accomodation and also in a secure financial position with mortgage approval.

We are chain free and flexible on moving date. So, how risky is a small (one house!) FTB chain verses a chain free but potentially more difficult buyer? My instinct is that the 2nd buyer, whilst exposed re the FTB buying her house, is likely to offer more and be easier to deal with - is this worth the risk of a chain that could go wrong or do FTB single house purchases usually go quite smoothly. It's the first time we've sold as we bought as FTB a number of years ago.

I think we are going to have to chose between chain free buyer at 1-2k lower than the other buyer and gauge whether its worth the risk for the extra cash...or at what point the differential becomes worth the risk...

thelem

You're being put off the first buyer because she seems picky, but have no idea what the other buyer in the chain is like or if there are any problems with your second buyer's property that would come up during the conveyancing.

Kayalana99

I'd go with the 'nicer' buyer tbh.

I suppose its how you look at it if FTB starts to make demands and reduces price down lower would you be willing to accept or would this put you down at sqaure one?

House buyers can fall through, but if it did with the second buyer it sounds like your house is in a good postion to get another buyer intested fast (I would of thought since you have two pretty quick? but up to you to judge) so would you rather take the risk for a nicer buyer and a couple extra k? I would espically since your not in a rush to move.

Cba with 'picky' people at all though. :rotfl:

ValHaller

bluep wrote: »

One lady is a bit worrying in her attitude from what our estate agent has said (quite pernickity) but in rented accommodation, good deposit and small mortgage already approved.

Because of her position I would prefer this one, unless there was a good reason not to. 'Pernickety' is one of those characteristics which would be an indicator but it is not clear what way - an attention to detail can give you a buyer who makes her mind up - or one who keeps looking at more and more issues.

I would be looking beyond 'pernickety' to judge whether or not she is decisive, because if she is, then that is what you want. Have you met her and what is your take on her?

Ivana_Tinkle

What does the agent mean by "pernickety"? If it means that she's rejected a lot of other properties, isn't that a good thing? It means that she's seriously committed to yours.

Fire_Fox

Ask picky buyer to match the other buyer's offer, say you will not get into a bidding war that is it but she does have to push everyone for a swift completion. Avoid a chain if you can, even a short one, all the more people to pull out or get awkward about dates.

bluep

Thanks for all the help guys. There is enough of a different between what they are both offering now to make the choice obvious and we've gone for the buyers we prefer even though there's a small risk around the FTB buying their property. Our EA says they are getting a lot of enquiries to view our property still and have a list of interested parties should it come back on the market so comfortable with the risk.