Putting in an offer before you're 'Proceedable'

Flugelhorn

when I sold a property a couple of years ago I had long line of "expressions of interest" - but only looked at proceed-able offers, could have been hanging around for ages otherwise 

eidand

waste of time, no seller is going to take you seriously. you need to have an accepted offer on your house first.

Splatfoot

AW618 said:

Splatfoot said:

You can offer and the vendor can accept. They may carry on taking viewings though in case someone actually proceedable comes along. This is what's happening with us right now. We've accepted an offer but the chain isn't closed so we are still on the market. 

You haven't really accepted an offer then, I would say.  You have just indicated a price which you are happy to accept from the first person who comes along in a position to actually offer it.

That's why we are still on the market. As soon/if as we get the nod, it will come off. But if someone else comes along before that and offers the same, we'll accept that. It's a risk the non proceedable 'buyer' has to accept. Like the poster above says, an expression of interest more than a firm offer. 

pinkshoes

It depends on how good your offer is as to whether the vendor will take it seriously!

No harm in putting a sensible decent offer in but making it clear you are not able to proceed yet. If the vendor likes you, they might stick with you over a lower offer. Or they might not.

We offered £340k on this lovely house 5 years ago but had no sold ours yet. A couple of weeks later they accepted £330k to a cash buyer who could complete quickly. Our house then sold 2 days later so we went back to the EA to say we could proceed but they declined as they'd accepted the other offer. To be honest it turned out for the best as we completed our sale anyway, moved in with the in-laws, then an even better house surprisingly came up for sale, and we're still living here!