Selling our house we've already got an eye on one...

JJR45

mrsmortgage said:

not enough ££££ to buy the house we want 

Unfortunately, a buyer decides what they want to offer, I can't see you have any other choice than to market your house.
The only way anyone will wait is if you offer the full asking price or as close as and accept that it will be on the market until you sell.
Likewise, any seller is not going to waste their time negotiating and holding a property for a sale that is not proceedable. They will keep their options open.

SameOldRoundabout

mrsmortgage said:

Thrugelmir said:

mrsmortgage said:

hazyjo said:

Wait until you have an offer. I can't see anyone accepting such a low offer from someone who's not even proceedable. They may have seen the light by then and dropped the price or be open to a low offer.

How long has it been on the market?

 Our house type  is selling within 5 business days here. 

Then why are you asking questions on here rather than getting on with marketing yours. Windows of opportunity soon pass. 

We're ready to go, have all EAs around, even have had cash offers, just that we don't want the pressure of having to find somewhere of having to pull pout if don't find anything. 

No seller will take any offer (especially a low ball one) seriously until you’re proceedable. You have little choice but to risk pulling out if this is what you want.

mrsmortgage

SameOldRoundabout said:

mrsmortgage said:

Thrugelmir said:

mrsmortgage said:

hazyjo said:

Wait until you have an offer. I can't see anyone accepting such a low offer from someone who's not even proceedable. They may have seen the light by then and dropped the price or be open to a low offer.

How long has it been on the market?

 Our house type  is selling within 5 business days here. 

Then why are you asking questions on here rather than getting on with marketing yours. Windows of opportunity soon pass. 

We're ready to go, have all EAs around, even have had cash offers, just that we don't want the pressure of having to find somewhere of having to pull pout if don't find anything. 

No seller will take any offer (especially a low ball one) seriously until you’re proceedable. You have little choice but to risk pulling out if this is what you want.

I think it's really unfair to our potential buyers, but maybe we don't have a choice. 

SameOldRoundabout

Do you have a MIP in place? All you can do is get all your ducks in a row and hope for the best. But given you haven’t lived in your house very long, and have used mortgage holidays through covid, it’s probably a good idea to ensure you can get the credit needed if you DO sell fast enough. Good luck. 

JJR45

mrsmortgage said:

I think it's really unfair to our potential buyers, but maybe we don't have a choice. 

Is it not unfair to other potential buyers and the owner of the other house if they accepted an offer and you pulled out as you could not afford it or could not sell?
That is why it works like it does, when everyone is proceedable it makes the chain. It is best for everyone.

mrsmortgage

SameOldRoundabout said:

Do you have a MIP in place? All you can do is get all your ducks in a row and hope for the best. But given you haven’t lived in your house very long, and have used mortgage holidays through covid, it’s probably a good idea to ensure you can get the credit needed if you DO sell fast enough. Good luck. 

Well our broker doesn't seem to think we'll have an issue? Yes we asked for a COVID holiday (as it was offered and they said it wouldn't be detrimental), however our fortunes have massively changed, and our income has now doubled thanks to me getting a much better paying job and my husband getting a pay rise. 

mrsmortgage

JJR45 said:

mrsmortgage said:

I think it's really unfair to our potential buyers, but maybe we don't have a choice. 

Is it not unfair to other potential buyers and the owner of the other house if they accepted an offer and you pulled out as you could not afford it or could not sell?
That is why it works like it does, when everyone is proceedable it makes the chain. It is best for everyone.

But we would still be breaking the chain somehow... I think the vendor would know of the risk of "accepting" our offer, which obviously he wouldn't have to until we're proceedable. We just want to know if he'd be happy with offers in that region, so we put ours on the market, if not, it's the house for and we'll have to wait until we found another one. 

pinkteapot

mrsmortgage said:

SameOldRoundabout said:

mrsmortgage said:

We're ready to go, have all EAs around, even have had cash offers, just that we don't want the pressure of having to find somewhere of having to pull pout if don't find anything. 

No seller will take any offer (especially a low ball one) seriously until you’re proceedable. You have little choice but to risk pulling out if this is what you want.

I think it's really unfair to our potential buyers, but maybe we don't have a choice. 

It's fine - not unfair. Just tell anyone viewing that you're sellling because there's on particular house on the market you want, and if you don't get that one then you won't be selling. Tell them that as soon as you've got an offer on yours, you'll offer on that one, and they'll know whether you're going ahead with the sale or not. 

It's not like you plan to pull out several months from now (unless your purchase falls through). You're not going to string them along for long at all, so it's fine. And they can also decide whether they want to offer on yours, based on the potential for it to fall through later if your vendor changes their mind about selling. 

So long as you're up-front with people it's not unfair.  

mrsmortgage

pinkteapot said:

mrsmortgage said:

SameOldRoundabout said:

mrsmortgage said:

We're ready to go, have all EAs around, even have had cash offers, just that we don't want the pressure of having to find somewhere of having to pull pout if don't find anything. 

No seller will take any offer (especially a low ball one) seriously until you’re proceedable. You have little choice but to risk pulling out if this is what you want.

I think it's really unfair to our potential buyers, but maybe we don't have a choice. 

It's fine - not unfair. Just tell anyone viewing that you're sellling because there's on particular house on the market you want, and if you don't get that one then you won't be selling. Tell them that as soon as you've got an offer on yours, you'll offer on that one, and they'll know whether you're going ahead with the sale or not. 

It's not like you plan to pull out several months from now (unless your purchase falls through). You're not going to string them along for long at all, so it's fine. And they can also decide whether they want to offer on yours, based on the potential for it to fall through later if your vendor changes their mind about selling. 

So long as you're up-front with people it's not unfair.  

Thank you, that makes sense! I think if we make it clear that it's only the market for that particular house, they should be ok...

JJR45

mrsmortgage said:

Thank you, that makes sense! I think if we make it clear that it's only the market for that particular house, they should be ok...

I would not worry too much on buyers, most won't think twice pulling out if they see something better (has been more prevalent in covid times) or have you over a barrel if anything comes up on a survey.
There are no friends in house buying and selling, It is just a transaction.