Would you make an offer yet?

Fionaanne141

I’ve viewed a home that i’d like to buy and frankly have fallen in love with. I wasn’t actively looking but now preparing to put my home on the market next week and had some private viewers today. Houses on my street normally get snapped up for various reasons and a neighbour recently sold theirs in 48hrs. I know the owners of the home I want to buy and both they and the EA are local and know the street well therefore I hope are aware I should be able to sell quite quickly.

The vendor for the property I want to buy is buying a new build that isn’t ready until March 2021 but is prepared to move into rented. Therefore, they aren’t in a rush to get out and their EA has valued my house and advised it would be snapped up due to a high demand but lack of supply of four beds in our area.

Given all those factors, would you put a bid in before you had a seller for yours? I was thinking I could play on the whole “You know me, you know i’m not going to back out, i love your house, mine will sell in plenty time for March 2021 and i’ll make a good honest offer’?

Or wait for mine to go online at end of next week (we’re away from tomorrow so can’t let them in for pictures) and risk the house being snapped up? It’s all happened so quickly 

What would you do if you were me?

Unicorn_cottage

Make offer asap...to show you are serious

Angela_D_3

Make your offer before someone else does 

AskAsk

you can put in a bid but the agent won't take you seriously until you have put your house on the market and your bid will be put in the back burner as not proceedable.

Fionaanne141

AskAsk said:

you can put in a bid but the agent won't take you seriously until you have put your house on the market and your bid will be put in the back burner as not proceedable.

Totally understand, I'm putting my house on the market with the same agent and they came out today to value and begin the process so im hopeful that shows how serious iam

Fionaanne141

Unicorn_cottage said:

Make offer asap...to show you are serious

Thank you! I wasnt sure if I was being insane! I'll ring them in the morning and atleast that way, they'll know im serious. 

AskAsk

Fionaanne141 said:

AskAsk said:

you can put in a bid but the agent won't take you seriously until you have put your house on the market and your bid will be put in the back burner as not proceedable.

Totally understand, I'm putting my house on the market with the same agent and they came out today to value and begin the process so im hopeful that shows how serious iam

that would help as it is with the same agent.  however he would give priority to someone who has already had an offer on their property or have nothing to sell.  your offer would still be considered unproceedable, which means it will stay in the queue until you get an offer on your property.

Doozergirl

In this market I think you do need to make your intentions known.  

They are unlikely to move into rented, by the way.  Minimum 6 month contract, they'd need to move out in a few weeks time.  People always say they'll rent but when push comes to shove, they don't.  We've seen it soooo many times on here.  Don't get your hopes up too high on that one - look forward to March.  

Fionaanne141

Doozergirl said:

In this market I think you do need to make your intentions known.  

They are unlikely to move into rented, by the way.  Minimum 6 month contract, they'd need to move out in a few weeks time.  People always say they'll rent but when push comes to shove, they don't.  We've seen it soooo many times on here.  Don't get your hopes up too high on that one - look forward to March.  

Haha, thats a very good point and important to keep my feet on the ground. I did joke with the vendors (as I know them) that the house is probably big enough for all of us to live there until March. I'd be fine waiting if I knew the house would be ours at the end of it and we could find a buyer for my place who'd fit into the timeline. God, who invented this buying system eh! 

Fionaanne141

AskAsk said:

Fionaanne141 said:

AskAsk said:

you can put in a bid but the agent won't take you seriously until you have put your house on the market and your bid will be put in the back burner as not proceedable.

Totally understand, I'm putting my house on the market with the same agent and they came out today to value and begin the process so im hopeful that shows how serious iam

that would help as it is with the same agent.  however he would give priority to someone who has already had an offer on their property or have nothing to sell.  your offer would still be considered unproceedable, which means it will stay in the queue until you get an offer on your property.

That's totally understandable. I wouldnt expect them to take my offer over someone in a better position which is why I was in two minds of even making an offer yet but I think I'd like them to know im serious and not just stay quiet in hope its still on the market in a few weeks when I could possibly be proceedable

AskAsk

Fionaanne141 said:

AskAsk said:

Fionaanne141 said:

AskAsk said:

you can put in a bid but the agent won't take you seriously until you have put your house on the market and your bid will be put in the back burner as not proceedable.

Totally understand, I'm putting my house on the market with the same agent and they came out today to value and begin the process so im hopeful that shows how serious iam

that would help as it is with the same agent.  however he would give priority to someone who has already had an offer on their property or have nothing to sell.  your offer would still be considered unproceedable, which means it will stay in the queue until you get an offer on your property.

That's totally understandable. I wouldnt expect them to take my offer over someone in a better position which is why I was in two minds of even making an offer yet but I think I'd like them to know im serious and not just stay quiet in hope its still on the market in a few weeks when I could possibly be proceedable

you have done the right thing as now they will know that you are interested and so they may wait for you. 
if your area is busy, then you may get an offer very quickly on your own property.  the agent acting for both will have an incentive to sell to you so that he gets commission from both parties.