Umming and Ahhing about accepting an offer...

Lemoncurd

Did anyone else do this or did you find it a pretty clear cut decision?
Both sellers and buyers, how long did you leave/wait before giving/getting an answer?

Our house has been on the market for almost 4 weeks now, we've had two offers, a few second viewings and a few others who were apparently very keen but still needed to put their houses on the market.

We were marketed as 'Offers in excess of...' and the first offer was 5k over that figure, we were very happy with that but the buyer wasn't proceedable. The current offer is 5k under the marketed figure - so 10k under the first offer. They have said that they can't go any higher, have no chain and are happy to be flexible while we look for a new home.

10k isn't a huge amount in the scheme of things and they are in a great position so OH wants to accept and I was going to let the agent know yesterday. I just can't bring myself to do it though!
Something is just nagging at me about it, the buyers initially rejected our house for several reasons but came back after looking at a few others having decided it was the best within their budget. They have also asked quite a lot of questions which haven't made me warm to them - I guess they have a lot of concerns whereas most of the other feedback and questions have been more positive.

I know if we leave it too long they might find something else or get upset, but I guess I'm worried that they might do that anyway.

Dan-Dan

Get the proceedable offerer to commit to spending money , i.e survey , first before removing from the market....

Lemoncurd

Good idea, how would you phrase this without putting them off or making them thing you would take a better offer if it came along?

Dan-Dan

why dont you let the estate agent worry about how to word it ? its competley usual and understandable what you are instructing...

shavy65

Look at it this way, if u knock this buyer back and ur house sits on the market for many more weeks/months with no serious potential buyers, how will u then feel? I`m betting u`ll wish you`d have accepted the offer. Although the market is picking up overall, there`s no gaurantee u`ll get a buyer, or a better offer + them being flexible for entry date is also handy.

Just a thought, hope all goes well

Better_Days

Lemoncurd wrote: »

They have also asked quite a lot of questions which haven't made me warm to them - I guess they have a lot of concerns whereas most of the other feedback and questions have been more positive.

Dearie me, the positive feedback was probably just viewers being polite. You are asking a buyer to spend tens if not hundreds of thousands of pounds without asking lots of questions?

Searching questions means that these buyers are putting some effort into the process and are seriously considering your property.

As a buyer I hate OIEO - and anyway I just use it as a starting point, and unless the property was priced very competitvely would probably offer less despite the OIEO.

As someone who was in a chain of 7 when we sold I would see a chain free buyer as very attractive. Only you can decide if you want to accept the offer, but don't get hung up on buyers asking questions.

I_have_spoken

They have also asked quite a lot of questions...

Probably following the advice here on MSE!

I sold last year to a BTL LL for under the asking price, but have never regretted as nothing else has moved in the area for months and I got the clean break I wanted as I was relocating miles away and would have spend ££s and hours to-and-froing if the house was stuck on the market.

Davesnave

-£10k is nothing in the grand scheme of things, unless you live in a very cheap property.

There is nothing magical about the EA's price either; it's just a figure based on an opinion, which might or might not have been inflated to please you. How does that price reflect sold prices for comparable property nearby? Do you know?

OIEO suggests you are inflexible, but this no-strings buyer thinks -£5k is worth your consideration, and I'd tend to agree.

Better_Days

Lemoncurd wrote: »

They have also asked quite a lot of questions which haven't made me warm to them - I guess they have a lot of concerns whereas most of the other feedback and questions have been more positive.

Dearie me, the positive feedback was probably just viewers being polite. You are asking a buyer to spend tens if not hundreds of thousands of pounds without asking lots of questions?

Searching questions means that these buyers are putting some effort into the process and are seriously considering your property.

As a buyer I hate OIEO - and anyway I just use it as a starting point, and unless the property was priced very competitvely would probably offer less despite the OIEO.

As someone who was in a chain of 7 when we sold I would see a chain free buyer as very attractive. Only you can decide if you want to accept the offer, but don't get hung up on buyers asking questions.

Edited to add - GL with your sale

DominicJ_2

Searching questions means that these buyers are putting some effort into the process and are seriously considering your property.

The closer they look the more serious they are about buying.
They sound very serious, you might get another 5k out of them, or you might annoy them and get them to move on.
What %age of the purchase price are you quibbling over?

duchy

I think the would be buyers who don't have questions are the ones to be wary of. Why are their questions annoying you ?