How to word a response to an offer

Dan-Dan

Morning all

Just wondered, as we are FTS and FTB`s , we have received an offer for our property , it`s not as high as we would like but my question is , how do we respond in regards to how quick can the buyer move

We want to be exchanged and completed ASAP so what questions do we put to our EA to make sure the people offering are in a good position and can start proceeding immediatley ?

Having never been in this position before ,but also knowing we want to be as quick as possible , any pointers are very welcome , last thing we want to do is accept the `wrong `offer..

Cheers

cabbage

HI

The Estate Agent should tell you if they can proceed and what position they are in. The best bet is to swap phone numbers with the buyers when they view again so you can liaise and sort any problems out.

You can state you will accept their offer if they can exchange in xxxx amount of weeks or by xxxx date but its not legally binding

This is what your Estate Agent or Solicitor should do but it may circumvent any problems to just swap texts.

This is what we have done for my daughter's first purchase as there was a slight delay in the funds becoming available and the survey being done. We didn't want them to think we had lost interest. Its also a lot easier asking for minor things that you want to know but without being a nuisance.

Dan-Dan

Thanks Cabbage , so really , i am relying on my solicitor to get on the case ASAP as they will be the one who really will find out quickest the real picture ? (plus swopping details would be a good idea , i agree)

I was just wondering wethere we should respond with a question like , "is there chain complete below etc"

Dan-Dan

and when should i mark as SSTC , once my solicitor has confirmed proceedability ?

DRP

Dan-Dan wrote: »

Thanks Cabbage , so really , i am relying on my solicitor to get on the case ASAP as they will be the one who really will find out quickest the real picture ? (plus swopping details would be a good idea , i agree)

I was just wondering wethere we should respond with a question like , "is there chain complete below etc"

the ea should give you that info in the first instance. It is really important to know the background of the buyer is acceptable before you decide whether the £££ they offer is acceptable.

ie. would you prefer:

300k offer but we haven't sold our place or are in a long chain

or

290k offer from a cash buyer

mummyroysof3

I would just ask the ea what their situation is that's what we did. Congratulations on getting an offer btw

Dan-Dan

can i BELIEVE what the EA tells us though......i have found so far that they seem well meaning but the info they give about viewers isnt always accurate....one person in the office will book it with me and the people are looking for an investment and can buy through their company , and then another person says (after viewing) that they need to think about raising finance...

Thats why i wondered about the solicitors having no vested interest and would establish facts that i could rely on (albeit it , at a cost to us i guess)

Ivana_Tinkle

If your agents are being flaky, you could ask them to find out the buyer's precise situation and email you the details (so that you can discuss them properly or whatever). They're more likely to actually check properly if they've got to put it in writing.

phill99

cabbage wrote: »

HI

The best bet is to swap phone numbers with the buyers when they view again so you can liaise and sort any problems out.

.

That is really stupid advice.

You need to keep this as a business transaction and at arms length. All requests for info etch need to go via solicitors or estate agents.

The minute you start dealing directly it all becomes too 'pally' and you loose sight of critical issues.

Slinky

Good to hear you've had an offer, just had a look at your new photos and it's certainly looking much better now those carpet tiles have gone.

I think you need to get the estate agent to do what you are paying them for, perhaps now you've got an offer, they'll start to remember who is who and what position they are in, with regards to your potential purchaser. Get them to ask the 'delicate' questions about how proceedable they are to help you gauge whether this is an acceptable offer. I'd say that most people don't expect to pay what they first offer, so there is probably a bit more on the table yet.

arbrighton

phill99 wrote: »

That is really stupid advice.

You need to keep this as a business transaction and at arms length. All requests for info etch need to go via solicitors or estate agents.

The minute you start dealing directly it all becomes too 'pally' and you loose sight of critical issues.

If we hadn't spoken directly with our vendors, we'd never have known what the delay was (their dire conveyancers) nor would we have been able to actually get a sensible answer to questions on a septic tank as neither surveyor nor conveyancers had a clue on that front....