Selling my home- advice please

Pete9501

Show them the highest valuation and suggest since there is some work to be done and it would cost you a couple of grand for EA fees etc you would accept £140k as a private sale.

Pete

love_lifer

Well Ive now been offered £142k by the neighbour. I've put my own board up and had lots of interest. There's a viewing day arranged for next month.


I think I need a written agreement/statement re the offer and then I'll stop the viewing day. What do people suggest? Can you ask to see a potential buyer's mortgage agreement? I'm out of practice with all this

kinger101

Did the neighbour stipulate any conditions with the offer (i.e., remove from market)? You certainly need a written offer, but I wouldn't take it off the market without knowing how they'll pay for it (cash, or mortgage-in-principle agreement).

If the viewing day is soon, you might want to hold out for better offers (but your neighbour may be losing patience).

Hoploz

My my you are doing well! I hope you havent talked to too many people about the jobs you think want doing - you are doing yourself down, they aren't deal breakers!
Better start looking for something to buy!

rosie383

Well done love lifer. I wouldn't take it off the market or cancel the viewing day until I had the offer in writing. Get yourself a good conveyancer.

love_lifer

thank you for your kind comments, it really means a lot as I feel im taking a risk selling without an agent. Encouragement always helps!


good point re written offer. I will speak with them (fully expecting a reduced offer). It really is a peculiar market round here and at least 4 close neighbours are interested in the house. which is why I gave the estate agents a miss


oh and no Ive not mentioned the work thankfully- the survey will of course pick everything up

rosie383

Depending what survey they pay for. If it is a valuation survey it doesn't go into too much detail. Sounds like they are getting a bargain so they should expect to have to do bits and pieces and it sounds as if their offer already reflects this. I wouldn't be expecting to accept an lower offer if I were you.

love_lifer

Hello Again


I had an offer from my neighbours a few months ago for £142k which I was happy with. however, they have struggled to get a mortgage and just told me they can get £75k and will pay the rest cash. they are now offering £132k


I have interest from a few other people but no decent offers yet- my bottom line is £135k. Its been valued at 135-155 last year, although I was told the market in my area is declining not rising.


my question is- I know the electrics will need doing (had a quote for £2k) and likely other bits and pieces as its an old house- so if I drop to £132- which I'm not minded to do- will I have to drop even further following the survey?


any ideas about how to handle this please?

kiddy_guy

Nope. Sit tight. They value it at 140k+ so the fact they want to reduce is their problem, not yours.

Annie1960

The surveyor will give a value for the property in its current condition (assuming the buyer will be getting a mortgage).