I've had a good weekend - Quit while I'm ahead?

ccskitten

So woke up yesterday with no viewings booked and a nice easy day planned.

At 12.30pm I had a viewing request for 1pm (via online agent). A lovely young FTB couple. Both seemed really keen. It was their first ever viewing and they had another viewing booked later in the day.

The moment they left I had a call from my local estate agent (only listed the house with them on Friday) to do a viewing at 2pm. They didn't have anyone available to do the viewing so I agreed to do it myself. These were an older retired couple, cash buyers but with a chain. They were clearly impressed and were trying to make an offer right there and then. I explained that the earlier couple were also very keen and I would need to see if they were going to put an offer in and I would weigh up the whole situation.

I also had another viewing request for 4pm but they cancelled as they were overrunning with their other booked viewings and also a friend of a friend is also chasing me to come and have a look. Seriously, its like busses!

Anyway, my house is listed for £179,995. the older couple put an offer in for £177k. I then received an offer from the FTBs for £170k. I called my online agent and asked them to inform them of the offer via my local agent. This morning they raised to £178k. I'm completely chuffed but asked the agent to gain proof of AIP before I accepted as I was let down last week. I sent a text to my local agent (they are closed) to let him know of the offer and he has since come back to me to say that the older couple have offered asking price!

In all honesty, I am over the moon with the FTB offer and they should be able to move quickly. My chain broke a few weeks ago and everyone above me in my chain is ready to exchange. However, my brother thinks I should let them know I have had a higher offer to see if they will offer more.

I have called my online agent and they advised not put them off.

I'm not really after any advice as I think I am doing the right thing by accepting the £178k, it's a lot more than I expected, but just wondered what anyone else would do in my position. I haven't accepted any offers yet but would you push for more?

fishpond

I would be more than happy with 177k from the older couple, it is also unlikely they will pull a fast one when you are close to completion.
Full price gives you room to wiggle if needed later, after survey is done.

Lord_Baltimore

You have (perhaps even more than) the offer you want. What's not to like; you should be purring? Squeeze at your peril.

ccskitten

Just to clarify this as I've just reread my post and it is confusing! The £178k is from the FTBs, the older couple have offered full asking price.

agrinnall

If both viewers are now aware of each other I would suggest that you say to each of them to make their best and final offer and that you will accept one of those and take the property off the market. Maybe give them a few days to do it so that the FTBs can provide their AIP. And if you decide you'd rather sell to the FTBs even if their offer is lower then that's up to you, it's your house and you can sell for whatever price you want to.

GoldenShadow

If someone wanted a best and final offer and said there were other I would lose interest and feel I was being pushed which always makes me like properties a bit less because I am less confident about the honesty involved.

We are FTBs and property is selling so well that no one really gives a toss. We've ended up at asking price on everything. One house we went to 190 they wanted 195. They went with 195 and low and behold those buyers dropped out and now they want us to but it. I said tough luck don't have enough faith in you not to drop us later if you get another 195. It's really not valued the chain/lack of here.

I might be wary the FTBs may not have seen enough houses to be sure yours is 'it', but that would be my only reservation. We've seen five in total and I don't think we knew what we were looking for until we saw more, but then if they have had other viewings today maybe that has helped their decision.

Good for you considering not squeezing etc because that certainly does make me think sod you there's other houses that I think will cause me less stress to buy.

onlyroz

Another thing to consider is the size of deposit that each can come up with. If the first-time-buyers are stretching themselves and need a 95% mortgage then the other couple might be the better bet.

kinger101

Get the estate agent to check out what happens if the mortgage valuation falls short. Are either of the buyers prepared to make up the difference? Or do they expect you to drop your price.

Just to check - by cash buyers with a chain, do you mean they've already sold their house, or it's on the market? If they've not yet sold, then you shouldn't take their offer seriously.

ccskitten

The cash buyers have sold. I think there are 2 in the chain before them. The estate agent is checking it out and will come back to me on Tuesday.

I'm hoping £178k isn't unrealistic for a mortgage valuation. I've had a look at zoopla and in my area, 3 bed semi detached houses have been selling for between £168k-£185k between Dec 14 and May 15. However, this has now made me worry a little bit! It's also showing the estimated valuations have risen but I'm not sure how much notice to take of this.

I'm nervous about taking on another chain as my chain broke below me back in July. Myself and the vendors above are all ready to exchange so the attraction of a FTB is we can keep closer tabs on how the sale is progressing.

kinger101

ccskitten wrote: »

The cash buyers have sold. I think there are 2 in the chain before them. The estate agent is checking it out and will come back to me on Tuesday.

I'm hoping £178k isn't unrealistic for a mortgage valuation. I've had a look at zoopla and in my area, 3 bed semi detached houses have been selling for between £168k-£185k between Dec 14 and May 15. However, this has now made me worry a little bit! It's also showing the estimated valuations have risen but I'm not sure how much notice to take of this.

I'm nervous about taking on another chain as my chain broke below me back in July. Myself and the vendors above are all ready to exchange so the attraction of a FTB is we can keep closer tabs on how the sale is progressing.

Sounds like the valuation shortfall is low risk then. I think in your position, I'd be tempted by the FTB as well.

TBeckett100

Personally I would go with the older couple

They are probably "old guard" and therefore won't mess you around. Older people tend to want security and therefore won't dilly dally.