Advice on putting an offer on a house when our house hasn't sold

double_chocolate

Hey MSE's, reaching out for some advice really, currently we've had our house on the market for 6 days and have had 5 viewings 2 of which we've had full asking price offers on, which is great! However they haven't sold. We have seen a house that we really like and have told the vendors EA our situation and they've told us that they will let the vendor know we're willing to pay asking price, we have strong interest in our property and the vendors EA themselves said we would most likely have our home sold in the next 2 weeks as we are in a sought after location and the property is of high standard. So I'm just wondering what people have done in this situation as buyers, sellers etc. Have you accepted offers with special terms? Outright refused? Etc. Thanks in advance! 

babyblade41

At the minute no one is able to proceed , by all mean put your offer to the agent but not a lot you can do until you are able to move forward.

Someone may come along already under offer and do the same making your offer obsolete 

Tallulah_Chicken

This is the position we ended up in - several asking price offers within days of going on the market but none of them had complete chains. We just advised them all that their offer would be acceptable IF they completed the chain.  We waited 5/6 weeks and none of them seemed to be getting anywhere, when we had an offer £5k under asking from someone with no chain. We accepted it as they were the only proceedable buyers.

WR83

We had a summer of non-proceedable offers. Eventually we accepted an offer from FTB at a slightly lower offer. Hard for the vendor selling the property you are interested in to judge the risks of your chain without it being proceedable. Express an interest stating as soon as you are proceedable you will make an offer, but I wouldn't even bother with an actual figure - will just be used as leverage with someone else who comes along.

Falafels

When my house was on the market over the summer, I had a viewer whose sale (with a different branch of the same EA) had just fallen through; she was not proceedable so neither the EA nor I thought anything of it, no offer made or requested. However... two weeks later, the EA rang to say she now had a buyer, wanted another viewing... and, long story short, we completed last week.

So my advice to you is to thank your viewers for their offers, and to get back in touch when they have a buyer. In the meantime, keep on marketing the property.

Suseka97

I get what others are saying, but the house buying and selling game is not that straightforward - you can never really be assured about a chain until contracts are exchanged.  So, if a seller will only accept offer from someone who is 'proceedable', then they could find several weeks in that the chain falls through and they are back to square one, whereas someone who had showed interest who was not under offer at the time and so was rejected could end up being in a better more 'proceedable' position going forward.

It has to be an individual decision and much depends on the strength of the market in the area you like - and seeing as you seem to be in a strong position, then I'd go in with offers.  You should also keep your options open and continue to look at the other houses available and let the EA know that is what you will do if your offer is held pending.  There has to be a balance, but it is a bit of a 'cat and mouse' game in my experience. 

Oh and a crystal ball would come in dead handy!

pinkteapot

With that level of interest, I wouldn't accept an offer from someone who didn't have a complete chain. We sold a couple of years ago in a really popular area and had an offer at almost asking price within a few days from someone who wasn't on the market yet. Our EA tried to convince us to accept their offer and come off the market for two weeks to see if they could sell their house quickly. We refused, and two days later accepted an even higher offer from a buyer who was ready to go. 

With your sale, I would thank the buyers for their offers and say you'd be more than happy to accept once they're ready to go. 

Similarly, as buyer, you can view and offer if you like but you'll be lucky if someone accepts your offer and takes their house off the market for you at this stage. 

rik111

Don’t bother wasting yours or the sellers time making an offer if you are not proceedable....

pinkshoes

If you've had 2 full price offers in 6 days, then that seems quite positive that you'll soon get a buyer that can proceed.

It won't hurt to express an interest and put an offer in. Any sensible vendor will keep your offer on the table but only accept once you can proceed. 

double_chocolate

Thanks all for your help! Will update you with how everything turns out!