How to navigate selling your house in this market

Slinky

jimbog said:

Help1234 said:

@eidand I already have one offer from someone who hasn't even viewed yet. I will keep you updated.

they sound dodgy

Not necessarily so. I tried to put a cash (real money in the bank) offer in on a house before viewing it, but the agent wouldn't put it forward without me viewing which meant having to drop everything and drive 220 miles round trip.  I'm living in the house now.

Help1234

Two viewings done, 20 more to go. Another offer has come in from the first viewer £2000 over asking price. FTB with MIP.

Sistergold

Help1234 said:

@thegreenone thank you! what do you mean by "make sure they are that and not an investor remortaging ie they will be a cash buyer when their mortgage is approved"?
We have someone who has already made an offer prior to a viewing who is described as an investor/second home with a mortgage in principal. Is this someone we should avoid? Thanks

Many people say they are cash buyers but infact are not. So they are hoping to remortgage property A then buy your property with the “cash”. So they will still face the same affordability problems as any other person who has been honest enough to just say they will get a mortgage. 

Help1234

We have done three more viewings this morning and had one no-show. From these we have received another offer £10,000 over asking price BUT they are in a chain and have only just listed their house! 

nicknameless

No offence OP but this is (partly) why we no longer view houses marketed via online agents (PB, YOPA etc.).

Newnoel

Help1234 said:

We have done three more viewings this morning and had one no-show. From these we have received another offer £10,000 over asking price BUT they are in a chain and have only just listed their house! 

Sounds like things are going well, and you should achieve well above asking. Well done.

As to this specific viewer, their offer is nice to know, but they are not proceedable so it isnt worth much. Sorry!

I am sure other offers will be along shortly - exciting times!!

lookstraightahead

Sorry op, thought you had an agent to check things out. 

I've never sold a house without an agent - how do you check they're serious buyers?

lookstraightahead

nicknameless said:

No offence OP but this is (partly) why we no longer view houses marketed via online agents (PB, YOPA etc.).

We don't either. We had a fantastic agent last time we bought (well, they did) who dealt brilliantly with our vendors' rubbish solicitor. Don't think we would have got to the completion otherwise.

UnderOffer

The £10k offer over is worth nothing if they haven’t even sold, just follow up with those that are proceedable. 

RS2OOO

thegreenone said:

Also, with the cash buyers, make sure they are that and not an investor remortaging ie they will be a cash buyer when their mortgage is approved.  I think we've had that scenario on here recently.

This has just happened to us. Part mortgage / part cash Buyer purchasing under a company name and we discover today his cash is dependent on remortgaging his personal home, after which he needs to apply for a BTL mortgage to make up his cash shortfall.

So in short he got through the estate agent screening and they recommended him as a proceedable buyer, but doesn't actually have a penny to his name. 

If EA can't see through that we as Joe public will struggle to as well.