House offer Palaver

medical

thank you all
offer palaver over
medical

rchddap1

Think of this from the buyer's perspective. They will be paying for various costs...only to be told further down the line...sorry we've sold it to someone else. If this was you wouldn't you be upset (to put it mildly)? I can understand you want to sell your house as soon as possible, but to be fair you have to pick one offer.

If I were you, I would talk to the 2 estate agents and ask them to find out how soon their client will be able to complete. Do they have a mortgage arranged for the house? Are they a cash buyer? Do they have to sell a house before they can complete on their purchase? This information might help you to decide. For example if one buyer still has to sell their own property, but the other does not...problem solved.

Depending on the answers the agents give you can make your choice.

medical

so far decide to go with the one that is a 1st time buyer despite about £5000 less than the other one, but they seem to be either slow turning things round or just naive

the other estate agent keep hassling us so we thought before considering this bring it to MSE first

thank you all

rchddap1

I'm glad to help. At the end of they you have to decide what is more important. A higher price, or a quicker sale. It all depends on what is more important to you.

deemy2004

medical wrote:

so far decide to go with the one that is a 1st time buyer despite about £5000 less than the other one, but they seem to be either slow turning things round or just naive

the other estate agent keep hassling us so we thought before considering this bring it to MSE first

thank you all

They may be having problems with the mortgage ask them to confirm that their mortgage has been arranged , or rather as the estate agent to get them to confirm it.

meanmachine_2

medical wrote:

these estate agents are doing my head in pls help

Can you accept 2 offers from 2 different estate agents and ask the solicitor to send out contracts to each of them, then decide to go with the one that is ready to to exchange contracts first?

pls i need urgent answers

thank you
medical

Wow, with that approach I hope your chain collapses. If I found out a seller was behaving like that I'd gazunder them, then pull out at the last minute.

Despicable.

You do realise that it's no longer a seller's market don't you? If you're frustrated with the pace of the market, then drop your price.

Gah! Sorry to be so aggressive, but that kind of behaviour just makes my blood boil.

These are people who you are hoping will give you a huge sum of cash. Treat them with some modicum of humanity, for chrissakes.

Woby_Tide

Bear in mind if you did choose to let them race against each other, how would you feel if as you exchange on the property you're selling, the seller of the property you are buying turns round and says they had someone else complete all their paperwork quicker than you so they have sold it to them instead.

Would make buying and selling more interesting, but unless you're happy for it to happen to you, I wouldn't like to stitch people up at an expense to them.

dougk_2

If I were either party involved, on hearing its "a race" I would pull out immediately. If both do that you will be stuck with no buyer.

What you need to do is study the situation of both buyers , take everything into account (including price, risk, possible timescales) and make a decision based on what is best for you and stick with it.

donsaini

i thought these "races" were only entered into when 2+ parties offered the same amount for the property.

at the end of the day, it's upto the buyers if they want to enter a race, or not.

if the amounts being offered are different, by buyers in different positions, then i think really you are morally obliged to choose one.

you could always say that you'd give the loser their costs? upto something reasonable?