Would You Take Your House Off Market if Offered Full Value?

Person_one

Yes, as long as the buyer was 'procurable'. That is, got a DIP or proof of funds, sold their own place or nothing to sell etc.

I've been the buyer desperately hoping that nobody else puts a higher offer in, if I've got the price I wanted I'm happy to let somebody have some peace of mind and hopefully start to feel excited.

DRP

I would certainly let any booked viewings go ahead.

If you're getting a lot of interest then I'd set a date for best and final offers - say, Monday, in order to get a whole weekend of viewings.

When I've accepted an offer in the past I have taken it off the market SSTC straight away, with the proviso that I need to see commitment (survey booked) in the next week or so or it goes back for sale.

I think that is the fair compromise imho.

anotheruser

Thanks for the opinions.

We found a nice house that had been on for less than a week.
Rang the estate agents and gave them three dates (spread over about a week) for viewing. They came back with the middle one, which was Wednesday (today) at 9am. Had a telephone call yesterday at 5:20pm to say the house had been taken off the market and sold.

Considering there was just a few hours in it, it's a real shame.

It was the first house we were going to see and looked perfect from what we knew. It had the kitchen we wanted, a good layout and a large garden (we're keen gardeners), for a price we could afford.

I just hope either the house hasn't been sold (despite it saying sold stc) or the sale falls through.

However I would have thought to cancel other viewings and sell, the other buyer must have put in a good offer - or be in a good position, despite us being first time buyers, albeit with a mortgage.

It just seems funny that the seller didn't wait another 24 hours as they could have pushed us into offering nearly straight away and pick the higher of the two.

And what makes things worse is all the other houses for sale in the areas we're looking at aren't very nice. It's put us off the whole house-searching thing and even if we did find another one, I don't think it would be as perfect.

To say it's a huge set back would be an understatement because we would have offered on that house the same day, so long as it wasn't falling down or had large patches of damp or whatever.

SevenOfNine

DRP wrote: »

When I've accepted an offer in the past I have taken it off the market SSTC straight away, with the proviso that I need to see commitment (survey booked) in the next week or so or it goes back for sale.

GREAT tip DRP, thanks. We've put a house up for sale. After an open house with 16 viewings we have received only 1 offer at the 'guide price', some £5-£10k lower than estate agents had indicated we should expect, (think the changes in stamp duty affecting additional home/s or buy-to-let purchasers has hit us).

Have accepted it, but your comments above had not occurred to us. Have emailed our estate agent & suggested it.

:beer:

TBagpuss

It depends on the circumstances. When I sold my last house, I had a lot of hassle - my original buyer messed about a lot and then got his mortgage offer withdrawn at the last minute so I had to put the house back on the market. At that point I was fairly well advanced with my linked purchase.

I put mine back on the market - someone viewed it the same day and offered full asking price. I accepted . There were other viewings booked for later in the week which we cancelled.

The reason I didn't wait was partly down to the fact that I was under time pressure because of my own purchase - the people who made the offer were organised, they had their deposit, agreement in principal and solicitors lined up and had no linked sale so were able to proceed promptly.

I also felt it was a bit unfair to have people in to view having already accepted an offer, or to string along a good buyer.

The offer they made was fair (My house was on a biggish estate so lots of coma parables).

It’s possible that I could have squeezed a bit more out of them, or another purchaser, by waiting, but equally I could have risked losing a good, proceedable buyer by messing them about and being greedy.

And in the event, the sale went through very smoothly, I left the new owners lots of relevant information and a nice bottle of wine, and they forwarded the few letters which slipped through Royal Mail's redirection service. Very civilized all round and I have no regrets about having made that decision.

borkid

Does the asking price buyer have a complete chain? I wouldn't take it off until there was a complete chain but having accepted the offer give the buyer notice if another offer came in with a complete chain. It would depend on the market in your area. here houses take a while to sell so you could be waiting a while for the chain to complete.

Pete9501

HappyMJ wrote: »

No...I would leave it on the market until contracts have been exchanged.

If they want me to take it off the market then they give me more than asking price or they do everything to get contracts exchanged as soon as possible.

Then I guess you will never sell me a property as I insist if my offer is accepted the property be removed from the market. Before the internet I would also ask the EA for all the sales brochures as well. However, I would be in a position I could proceed and have the funds available.

Just a different opinion.

POPPYOSCAR

When we sold our last house we accepted an offer but continued to allow booked viewings to go ahead with the proviso that they understood an offer had been accepted.


They were told that they were welcome to still view in case they were interested if the sale fell through for any reason.


We were in fact made a higher offer by a subsequent viewer but stuck to our word with the offer already accepted.

Brightspark87

we have just made an offer of the full asking price - on the condition it was taken off the market. We provided proof of deposit, AIP and I work next door the agents. 3 days down the line mortgage application is in and solicitors instructed so he is happy with our end.

Guest101

"Off the market" is fairly meaningless.


It's as useful as a handshake