Have we accepted the right offer?

walwyn1978

I would stick. Yes they’re emotional about it, yes they’re offering slightly more but look at how many threads there on here both from first time buyers panicking about stuff (which can collapse a sale if they get cold feet) and people selling to first time buyers panicking and/or who haven’t got their ducks in a row financially.

Hard nosed it may be but assuming you want this done with minimal hassle AND it’s a genuine cash buyer, not the other definition sometimes used ‘this person needs a mortgage but has nothing to sell’ then on balance I’d be eating the 5k for peace of mind and a potentially faster sale. 

Obviously up to you but house selling is stressful enough at the best of times. 5k to potentially reduce that stress seems a good trade to me. 

Good luck with whatever you decide.

NatNat77

How do you think the buyer whose offer you've accepted would feel, or don't they know yet?

I would stick with them, personally x

AFF8879

If you’ve already accepted an offer, don’t go back on it now. The EA needs to tell these FTBs to stop being so emotional and just find a different house!

MysteryMe

Stick to the offer you have accepted, if you start reneging chasing more money you may end up with nothing. You are getting well over the value the EA thinks the property is worth  so be happy with that is my advice. I would however ask the EA to explain to the cash buyer that you have rejected a higher offer on the understanding that the sale goes through quickly otherwise it will be back on the market.

Ksw3

I'm a FTB (ready to cry at the state of the housing market right now) but I would stick with the cash buyer. 

If someone was buying the house to rent out that I'd probably choose the FTBs. Ultimately it's your decision and I'd say go with your gut. 

NameUnavailable

Go with the FTB but say you want a £5K deposit which will be set against the price if they proceed, but won't be refundable if they pulll out for any reason.

ss2020jd

I would stick with the cash buyer. Apart from the fact you’ve already accepted their offer, as long as they are genuine and the funds are verified, you may find they are less needing to jump through hoops than someone with a mortgage lender and their demands or requirements would be expected to do.

We chose a cash buyer over a buyer needing a mortgage and they didn’t raise any issues about anything and even had to forgo searches as they wanted to meet their deadline. It seemed a lot faster and more straightforward (shame the same couldn’t be said about their buyer). 

I know you feel and identify with the FTBs but when you are caught up with mortgage lenders requirements or demands or questioning or worry of every item on the survey or searches  (not a criticism, I did it myself as a FTB) you may realise why sellers go for genuine cash buyers (not investors). 

katkatmachine

I would stick with the cash buyer too. The FTBs are too emotional, they might panic and become a pain when they see the searches.

Atomix

just to be nosey / any chance of a link?

Atomix

We bought our first house in 1999, sold in 2004 to a cash buyer... we didn't realise how lucky we were... (divorced lady with cash in bank from husband)... she didn't get a survey (it was still under the 10 year nhbc) - and im pretty certain we were done and dusted within a fortnight (the house we moved into / owner had already moved)

My point being.... just be ready - the process might be much quicker than you might expect