Making an offer when your house isn't yet on market..?

[Deleted User]

Hi,

the thing with buying and selling, when relying on selling first, is synchronisation of both deals, not always possible.

Clutterfree

Years ago when we bought our previous property we had the same dilemma.
We couldn't afford the asking price but said the most we could afford was £x.
We told the vendor we knew they wouldn't accept because our house wasn't on the market, but had we sold our would they accept that amount?
They said they would but still marketed their house.

We put our house on the market a few days later and it sold the same day. (Think it was underpriced but you live and learn).

Vendor was true to their word and accepted under the asking price.

Yes you do have to show your hand but, like you, we didn't want to move if we couldn't buy that particular house.

Good luck.

gax23

We did this with the house we're currently buying. Our vendors were in no great rush so happily accepted the offer the same day. All going through fine, even though we're now on our third buyer.

ssparks2003

The cart appears to be along way in front of the horse in this case. Perhaps you should start by seeing a mortgage adviser to find out if you can even extend your borrowings, then if you can get your house valued and if everything is good get it on the market.

How much effort is it going to be to get your house to a sellable condition? any decorating, repairs, de-cluttering need doing or do you live at show home standard 24/7? once you are in that position then perhaps start considering looking at properties, because until then you are only wasting your time, the EA's time and the house sellers time. And just because other houses have sold quickly is not guarantee that yours will even get a single viewing in six months.

glentoran99

[Deleted User] wrote:

Hi,

the thing with buying and selling, when relying on selling first, is synchronisation of both deals, not always possible.

the vast majority of people if they own a house need to sell to buy a second one

Mickygg

I would say wait. Very few people will accept an offer from someone who has both house not on market and no AIP.

Iamdave

To add the vendor has already bought another property although in no great hurry to move into it, I'm not in the financial position to buy before selling mine unfortunately.

Their property has been on the market for a while though, which indicates it being overpriced given that someone I know has also viewed it and came up with the same figure as me.

going to view again next week with my brother so will see if he comes back with the same figure also. He's bought a few properties and fixed them up before too so will be able to identify work that needs doing better than I can too.

My property is fairly new, and doesn't really need much work, perhaps just a good deep clean and tidy prior to estate agent photos and a lick of paint before selling.

The fact that they've already got their next property suggest to me that they may be open to saying 'we're happy with your offer, understand that you need to market your property but will accept it if/when your property sells' I then understand that if someone beats me to it in the meantime it wasn't meant to be.