Buying and selling

Thrugelmir

Puflin wrote: »

Hello. I am interested in buying a house owned by Mr M who also owns M's estate agents. My offer has been accepted but M's is now saying that Mr M won't sell the house to me unless I sell my house through M's. I don't want to do this but fear that I will lose the house if I don't. This seems to me to be unethical and bullying . Any thoughts please?

Have you actually sold your house yet?

Davesnave

Clutterfree wrote: »

I'm very surprised he accepted your offer when you are not in a position to proceed until you sell your own home.

Could he not say the offer is acceptable, which is accepting it, yet keep the house on the market, to see if another offer is even more 'acceptable?'

hazyjo

Davesnave wrote: »

Could he not say the offer is acceptable, which is accepting it, yet keep the house on the market, to see if another offer is even more 'acceptable?'

Yes, but a few ifs and buts.

1. If it takes a few months, the seller would have been likely to drop the price. They'll be less inclined to after agreeing an offer.
2. The buyer will kick himself in the same scenario as he'd have offered less if the price was dropped.
3. There is nothing more attractive to other viewers than knowing someone else wants it and are willing to pay whatever amount for it. It makes it more appealing so the buyer's mad to leave an offer sitting on it if they're not proceedable. I doubt very much that the seller would take it off the market until the buyer has a buyer, even if they offered the asking price.
4. It might be that the buyer is offered a low price for theirs which they would consider accepting if the seller reduces theirs (been there, got the tee-shirt).
5. The buyer would be in a far better bargaining position if they had an offer on theirs.

That's off the top of my head. Am sure there are other reasons.

Jx

clockworks_2

Why wouldn't you use him if he's the same price as everyone else?

He's going to work in your bests interests so you can buy his house.

You're not chain free far from it, if he commits your house to you at least this way he has a little control to ensure the chain runs smoothly.

Davesnave

hazyjo wrote: »

Yes, but a few ifs and buts.
Jx

Yes, that's the sort of thing I was thinking about, but in a less organised way!