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

mrsmortgage

JJR45 said:

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.

I'm not British born and find the whole system borderline unethical, but that's just me! So I do whatever I find "ethically" acceptable by me. 

Pelo4Life

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 was you a few weeks ago! We found a house we loved, but we couldn't even get a viewing until ours was on the market, and ideally with an offer on it. We didn't want to waste anyone's time, but that appeared to be our only option. What it came down to for us was: why do we want to move? Even if it's purely for that one house... why? Because if you understand that, and that's not going to change, then you're going to need to sell your house.

We put ours on the market and was very up front with our EA that we wanted this one house. Once it was listed, we did get a viewing on the house we wanted. By the time we'd turned up to that viewing, we'd had 17 viewings and 5 offers on our house (this all happened within days... that market's nuts). So we viewed knowing our position, which enabled us to put in an offer on that house, which was accepted.

JJR45

mrsmortgage said:

I'm not British born and find the whole system borderline unethical, but that's just me! 

Nope, it is. but that is just how it works.
That is why most people would rather wipe their bottom with a hedghog than sell a house.😂
We sold and moved to rented to wait for the right house, only been 6 months so far and still not found it.
Tell a lie we have an offer accepted on one ready next year but are still looking as it is never a guarantee with the British buying system, anything can happen with either side before exchange without repercussions. 

Thrugelmir

mrsmortgage said:

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. 

Sell your property and rent if need be.  Then you'll be in a position to pounce the minute a suitable property becomes available. 

mrsmortgage

Thrugelmir said:

Sell your property and rent if need be.  Then you'll be in a position to pounce the minute a suitable property becomes available. 

a) TSB won't let us unless we pay £9k or thereabouts b) literally there's nowhere to rent here, houses get snapped within hours c) I'm not going to waste money on renting 

We would end up wasting what £20k?? when that money could be part of the deposit. 

LAD917

mrsmortgage said:

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

You really don't have a choice.  I agree that the process is mad and borderline unethical, but it is what it is.

I've done this and have been straightforward with everyone.  I told the estate agents that I was only interested in one specific flat, and only if I could get it for my flat + £x.  I ensured the contract gave me full right to stop marketing my property, with no fees payable, if this condition wasn't met.  When I had a buyer, I made the offer right away, and I did not keep the buyer hanging.  After three business days of negotiation, I gave up on the property (with very stubborn, divorcing vendors) and withdrew the listing.  While the buyer was obviously disappointed, three days of wasted time is nothing in this crazy system.

NameUnavailable

Some agents won't even let you view a property unless you're already under offer. What are you meant to do?

List yours at the price you were thinking of and see if you get that offer as quickly as you were expecting. When you do then you can go it with your offer as a 'ready' buyer. By then the vendor may have dropped the price or at least be more willing to consider serious offers, if the place is overpriced as you say.

If your offer isn't accepted then you just have to call your EA and say you are no longer selling. Yes a buyer may be disappointed but that's part of the 'fun' of buying and selling property.

Just make it clear to your buyers not to spend out on searches or a survey until your own offer has been accepted, that way you will at least help them avoid wasted costs.

Redwino222

Talk to the estate agent.  Get them round to value your house - if you are buying and selling with the same agent it makes things easier.  Explain your situation - get their advice. 

I did that - estate agent saw my house would move fast - I had my house on the market by the time the viewing happened - but not sale agreed.  My bid was accepted because the estate agent assured the vendor my house would be sale agreed quickly - and it was. 

Keswick1uk

In Cornwall you have to be a mind reader or lottery winner to move houses now!

We could probably sell ours overnight but as that happens to most places, the one we can offer on isn't even on the market yet! Or, if it is, its overpriced didn't sell in minutes.

So we'd be stuck buying something overpriced.or getting lucky new to market at same time as ours is perfect.  Given we've seen about 3 places we like in 12 months, I really.dont see that happening. 

We are definitely safer sitting put!

Keswick1uk

The EAs must understand this as they won't let unproceedables view, so they are the ones causing it. Correct to do so, but they have to take some responsibility! It's part of them earning what is going to be a bumper payday this year.