Accept offer or cancel viewings?

Happy_saver_4

Whatever you decide, don't get greedy.

You should have established the correct asking price before marketing the property. By getting 3 EA to value etc. This is well worn advice on this forum. You now only seem to have doubt about the price because somebody wants to buy it. Would you prefer to have had the property for sale for a few months and then had to reduce the price

We accepted an offer for our home at 11:15 this morning. At 11:30 somebody else wanted it and offered me £5k more. I refused the 2nd offer, but promised to let them know if the 1st buyer let me down.

I would not like to be gazzumped and therefore I refuse to do this to somebody else.

Don't forget what goes around - comes around.

stevie_wonder

Happy_saver wrote: »

Whatever you decide, don't get greedy.

You should have established the correct asking price before marketing the property. By getting 3 EA to value etc. This is well worn advice on this forum. You now only seem to have doubt about the price because somebody wants to buy it. Would you prefer to have had the property for sale for a few months and then had to reduce the price

We accepted an offer for our home at 11:15 this morning. At 11:30 somebody else wanted it and offered me £5k more. I refused the 2nd offer, but promised to let them know if the 1st buyer let me down.

I would not like to be gazzumped and therefore I refuse to do this to somebody else.

Don't forget what goes around - comes around.

I agree with you about behaving unto others how you'd expect them to behave to you.

I did have the 3 estate agents round to get best deal on service, marketing and price.

However, with 3 already lined up for this evening I don't think its unreasonable to wait to see what they think. The buyer had asked us to take it off before the viewings and TBH we would have wanted to think on it overnight anyway. If they can't see that, and continue being pushy then they may be the same further into the process...

Thanks for the advice

Happy_saver_4

stevie_wonder wrote: »

I agree with you about behaving unto others how you'd expect them to behave to you.

I did have the 3 estate agents round to get best deal on service, marketing and price.

However, with 3 already lined up for this evening I don't think its unreasonable to wait to see what they think. The buyer had asked us to take it off before the viewings and TBH we would have wanted to think on it overnight anyway. If they can't see that, and continue being pushy then they may be the same further into the process...

Thanks for the advice

I agree and good luck for this evening

Gorgeous_George

It is only right that you should let the others see the property as they have made arrangements to view already. Who's to say that the couple making the offer will not continue looking or will dump you if prices fall before exchange or if their BTL buyer will drop out.

It is better to have options. However, once I accept an offer, that's it - providing the sale progresses within reasonable timescales. I sold in 2003 for my asking price of £137,500 even though another EA said I should expect nearer £150K. I'm sure it would have sold eventyually but I wanted to proceed without delay to secure my current home. No regrets.

Good luck.



GG

telfordwhite

Doozergirl wrote: »

You won't lose the buyer at all, the EA is pressurising you. I'd very seriously complain if someone said that to me. I'd remind them very quickly that you are paying them to sell you house for you, not to lay a guilt trip.

Who said anything about pressurising. The EA is only passing on instructions from a potential buyer. Asking for a property to be taken off the market is common practice.

Doozergirl

telfordwhite wrote: »

Who said anything about pressurising. The EA is only passing on instructions from a potential buyer. Asking for a property to be taken off the market is common practice.

The EA is pressurising by saying that they might lose their buyer if they don't accept their offer today. The likelyhood of that happening as a result of the OP saying that they want to wait until tomorrow is virtually nil. If I had put in an offer, I would not withdraw it - I might not want to go higher but I would not withdraw an offer because someone already had pre-arranged viewings.

I've had it done to me before with an EA telling me that I had to be careful that I didn't lost the buyer by rejecting their offer, when within half an hour they had bid themselves up £7000 to full asking price.

I've also had people make an asking price offer on the proviso that I would remove the house from the market without them having sold their house. When they later sold and offered me less, the answer was a polite no. I still got my asking price from them.

Happy_saver_4

The EA is now upset with me because the 2nd buyer has now increased his offer to £15k above the agreed selling price to the 1st buyers.

But, I 'm still sticking to my principles - no gazzumping.

As the EA now feels he's losing commission, due to my staying with the deal already agreed, I wonder if he will try and charge me his commission based on the higher offer ? Upset or not - no chance. I understand you can always instruct your solicitor not to pay the EA as you will settle his fees direct. Is that correct?

I thought EA's were against gazzumping and always blamed it on the vendor :rotfl:

Nenen

Happy_saver wrote: »

The EA is now upset with me because the 2nd buyer has now increased his offer to £15k above the agreed selling price to the 1st buyers.
But, I 'm still sticking to my principles - no gazzumping.
I thought EA's were against gazzumping and always blamed it on the vendor :rotfl:

But I thought you hadn't actually accepted the 1st offer as you weren't prepared to meet their demands to cancel the prebooked viewings??? I thought you were going to give them an answer in the morning. Like you I am strongly averse to gazumping and would not go back on my word once given. However, if you hadn't actually accepted the 1st offer then I don't think it could be seen to be gazumping could it? What do others think?

telfordwhite

Nenen wrote: »

But I thought you hadn't actually accepted the 1st offer as you weren't prepared to meet their demands to cancel the prebooked viewings??? I thought you were going to give them an answer in the morning. Like you I am strongly averse to gazumping and would not go back on my word once given. However, if you hadn't actually accepted the 1st offer then I don't think it could be seen to be gazumping could it? What do others think?

I think StevieWonder and Happy saver are 2 different posters..;)

telfordwhite

Doozergirl wrote: »

The EA is pressurising by saying that they might lose their buyer if they don't accept their offer today.

They might!