Multiple asking price offers - what next?

Exodi

Crashy's never anywhere to be seen in threads like this...

aliby21

Have any of the bidders been for second viewings? I do wonder if, knowing there is a bidding war, some/all are fighting to get it without really making sure it is the right house, and are going to do their checking after. I had a couple of people bidding against each other for last house I sold, and did find second viewings very useful for making my mind up - went for the ones that hadn't even got their house on the market but were much the more relaxed. The others were asking if I was going to be prepared to move into rented so they could move in quickly. It is not just about the finances, it is also about how easy they are going to make the whole process.

quantumlobster

Exodi wrote: »

Crashy's never anywhere to be seen in threads like this...

Course not. This is a thread about an actual property transaction.

quantumlobster

OP: I'd score them. Something like:

+1 point for being proceedable, +2 points for being a cash buyer, -1 point for being an FTB, -1 point for being in a chain, +1 point for every 5% deposit, +1 point for having a solicitor, etc. There's loads of ways to measure.

You could make a spreadsheet, with graphs and everything.

hazyjo

quantumlobster wrote: »

OP: I'd score them. Something like:

+1 point for being proceedable, +2 points for being a cash buyer, -1 point for being an FTB, -1 point for being in a chain, +1 point for every 5% deposit, +1 point for having a solicitor, etc. There's loads of ways to measure.

If they weren't proceedable, they'd not be getting any points on the rest in my spreadsheet/graph and would be binned straight away

lookstraightahead

Highest deposit far more important than the amount as you don't want it to be down valued.

lookstraightahead

Exodi wrote: »

Crashy's never anywhere to be seen in threads like this...

To be fair it's probably because the op has priced the property realistically and is obviously not a greedy person.

chunkytfg

fluffy123 wrote: »

Well, gone to final offers this morning. Within the hour had all four recontact with an increase. One by £1,050, one by £3,000, one by £5,000 and one by £5,500

Veering towards the £5,500 seller as they’re currently renting but not a FTB, however they’re offering up a 40% deposit. There are other FTB’s in the mix too and waiting to establish other details, one is a seller who has sold STC.

not a FTB but nothing to sell plus a 40% deposit would make me go that direction too irrespective of the price they offered.

at least you know a down valuation wont mean no mortgage it'll just maybe mean a slightly higher interest rate:beer:

jimbog

lookstraightahead wrote: »

To be fair it's probably because the op has priced the property realistically and is obviously not a greedy person.

Apparently undervalued it judging by the offers received

Mnd

Exodi wrote: »

Crashy's never anywhere to be seen in threads like this...

The house was worth 1.5 million last month, proves his point