Best way to make offer before selling own home

striker44

hI,

Many thanks for any suggestions

Downsizing, seen bungalow which want - best way to make offer to vendor to obtain bungalow until own home sold?

Thanks

dave

[Deleted User]

Best way is to make your offer so they know you're interested but expect them to keep marketing, as you can't proceed.

SmashedAvacado

you have no leverage at the moment presumably because you are unable to proceed
i wouldn't make an offer
i might tell the agent that i wanted to be kept up to speed with developments on the property
if your place doesnt sell for a month and the place you like hasnt sold in that time - your offer might be different than that one you make today.

pinkteapot

Doesn't hurt to try - but there's no masking the fact you haven't sold yet, so in all likelihood they'll keep marketing until you do.

How's the market where you are? Are things selling fast if they're priced sensibly? If so, get EAs booked in to come and value yours ASAP and try "We're going on the market now. Things here are selling quickly so long as people don't over-price and we really want this property so we're going to price to sell." - Sound as on the ball about the reality of the situation as you can.

They'll either say no, or they'll say they'll accept if they don't get another offer from a proceedable buyer before you're ready to go. Either way, doesn't hurt to make the call to the EA.

striker44

Many thanks for your quick replies appreciated

dave

eddddy

You can try to get the seller's EA on your side, by instructing them to sell your current house.

So if they get a quick sale on your house, it unlocks two lots of fees.

hazyjo

I'd be careful. Copying my post from another thread:


"Offering when not proceedable just results in several things:

- The vendors will now be deluded that people will be queuing round the block to buy their house.
- They are less likely to reduce the price if little interest as you are hanging on offering full asking price or more.
- The house is now MUCH more appealing to others. It forces their hand. They will be told there's an offer on the table which hasn't been accepted yet (they prob won't even bother saying you're not proceedable, they just play one off against the other). Plus it makes it look like a good deal and they'll prob say there's been lots of interest. Human nature to want something that someone else does.
- Doesn't give you any wriggle room on your asking price.
- They're less likely to agree a reduction.

Loads of other reasons, but these are off the top of my head.

I know it's hard, but for anyone reading in the future, if they say no to an offer (if you insist on offering when not proceedable), take your offer off the table and action your own sale ASAP. When you have a buyer, go back and offer again (although if you did offer before, it'll be hard to come back with a lower offer!). "

quantumlobster

OP: The big risk now is that if someone else offers 50p and half a mars bar more than you, and they're proceedable, you're sunk. You have no plan B.

If I were you, OP, I'd get yours sold toot sweet and then you can make a credible offer.

Margot123

eddddy wrote: »

You can try to get the seller's EA on your side, by instructing them to sell your current house.

So if they get a quick sale on your house, it unlocks two lots of fees.

This could be the deal-breaker with the agent.

Get on the phone or pop into their office and have a chat with them. Discuss your options, and make it favourable for the agent commission-wise.

AnotherJoe

What hazyjo said, dont, it wont do you any good and may do positive harm.

hazyjo

quantumlobster wrote: »

OP: The big risk now is that if someone else offers 50p and half a mars bar more than you, and they're proceedable, you're sunk. You have no plan B.

Worse than that - they could offer several thousand less and still get it. I mean, what's better as a seller - an offer that may not get anywhere (some houses take months to sell!) or a firm offer (with a complete chain behind them) which means the ball starts rolling.


Also, another thing - you don't have a clue what position your buyers will be in. They may make the chain longer, with one or two links still needing an offer too.


OP - this all presumes the bungalow-owner doesn't need to find somewhere. If they still haven't got anywhere to go, it *may* go in your favour, although in their shoes I'd only really accept asking price, not below or I may as well keep it on the market.