Which offer best to accept?

getmore4less

Giggidy said:

We are in a fortunate position to have received quite a few good offers on our house 25-30k over asking price. The top 3 are so close and we are not sure which best to go with with. I always said I would like to sell our family home to another family / couple looking for a family home. My partner is not that emotional vested and wants highest offer or chain free at least.

Offer A - £28K over, couple in a chain
Offer B - £30K over, family looking for more space but property not yet on market 
Offer C - £30K over, local landlord with large deposit, small mortgage

The EA spoke highly of the landlord, having been doing business with him for years (possible best mate haha! ) . He will only have access to his funds from February which gives us time to find somewhere as there is hardly any new houses come up until probably after Christmas now. Seems the easiest option, chain free, less chance of mortgage valuation undervaluing the house affecting the sale.

The family looking for space could sell their house easily as per the EA, houses in this area literally go under offer within days of coming to market but we are just worried about then possibly being in a large chain, mortgage issues if any.

Decisions, decisions, which option is best?.

Giggidy said:

rexmedorum said:

would the landlord be able to exchange sharpish or only in Feb? If so I would wary that it may not be as easy as the agent makes out.

The landlord will only have access to his funds from start of February, which we said is fine because we are not likely to find anything unti then anyway

how ironic,

you are not even close to being proceedable yourselves

This is a thanks for your interest we are not ready yet,  will decide when we have somewhere.

NO sensible buyer of yours would stop looking or spend any money till then.

Giggidy

getmore4less said:

Giggidy said:

We are in a fortunate position to have received quite a few good offers on our house 25-30k over asking price. The top 3 are so close and we are not sure which best to go with with. I always said I would like to sell our family home to another family / couple looking for a family home. My partner is not that emotional vested and wants highest offer or chain free at least.

Offer A - £28K over, couple in a chain
Offer B - £30K over, family looking for more space but property not yet on market 
Offer C - £30K over, local landlord with large deposit, small mortgage

The EA spoke highly of the landlord, having been doing business with him for years (possible best mate haha! ) . He will only have access to his funds from February which gives us time to find somewhere as there is hardly any new houses come up until probably after Christmas now. Seems the easiest option, chain free, less chance of mortgage valuation undervaluing the house affecting the sale.

The family looking for space could sell their house easily as per the EA, houses in this area literally go under offer within days of coming to market but we are just worried about then possibly being in a large chain, mortgage issues if any.

Decisions, decisions, which option is best?.

Giggidy said:

rexmedorum said:

would the landlord be able to exchange sharpish or only in Feb? If so I would wary that it may not be as easy as the agent makes out.

The landlord will only have access to his funds from start of February, which we said is fine because we are not likely to find anything unti then anyway

how ironic,

you are not even close to being proceedable yourselves

This is a thanks for your interest we are not ready yet,  will decide when we have somewhere.

NO sensible buyer of yours would stop looking or spend any money till then.

We got told by most EA's when we've tried to put offers in (and sometimes even blocked from viewing properties) that we need to at least have our house on the market or under offer to even be considered, so the irony is lost on me I'm afraid.

Offer A already in a chain so it might pose a problem for them, but B still has to put theirs on the market which could potentially take a few weeks to do (ours took 2 weeks to go to market and that's with photo's already done previously) and C already said can't proceed till Feb anyway. No-one would be expected to spend any money until we are proceedable, which could still happen in the next few weeks because we are actively looking, but just not much coming on to market unfortunately.

Giggidy

Bluebell1000 said:

The chain for offer A might get impatient waiting for you to find somewhere, if the chain is fairly complete.
Since B can't proceed yet, you probably know what the market is like - are they likely to sell soon-ish?
With C there is I think a slightly higher risk of them potentially trying to renegotiate later, since they could pull out without as many repurcussions as the ones in a chain. However their timing sounds fairly good for you, and if they are known to be reliable in that area, then I would probably go for C.

B live locally, and houses go under offer really quickly so it's not too much of any issue them not being on the market yet, it's just how long the chain might be. With C, we were told before the open day that they were really keen on a house in our particular area and it works out better for them if we took a bit longer to find somewhere. If we did accept their offer it would be on condition that no reduction would be entertained unless the survey threw up something major, it would go straight back on the market otherwise

lookstraightahead

getmore4less said:

Giggidy said:

We are in a fortunate position to have received quite a few good offers on our house 25-30k over asking price. The top 3 are so close and we are not sure which best to go with with. I always said I would like to sell our family home to another family / couple looking for a family home. My partner is not that emotional vested and wants highest offer or chain free at least.

Offer A - £28K over, couple in a chain
Offer B - £30K over, family looking for more space but property not yet on market 
Offer C - £30K over, local landlord with large deposit, small mortgage

The EA spoke highly of the landlord, having been doing business with him for years (possible best mate haha! ) . He will only have access to his funds from February which gives us time to find somewhere as there is hardly any new houses come up until probably after Christmas now. Seems the easiest option, chain free, less chance of mortgage valuation undervaluing the house affecting the sale.

The family looking for space could sell their house easily as per the EA, houses in this area literally go under offer within days of coming to market but we are just worried about then possibly being in a large chain, mortgage issues if any.

Decisions, decisions, which option is best?.

Giggidy said:

rexmedorum said:

would the landlord be able to exchange sharpish or only in Feb? If so I would wary that it may not be as easy as the agent makes out.

The landlord will only have access to his funds from start of February, which we said is fine because we are not likely to find anything unti then anyway

how ironic,

you are not even close to being proceedable yourselves

This is a thanks for your interest we are not ready yet,  will decide when we have somewhere.

NO sensible buyer of yours would stop looking or spend any money till then.

Time and time again this is what I'm trying to say. I can't understand why it's ok to not be proceedable as a seller, but not as a buyer.
apparently buyers are meant to hang around for ever.

op, find the buyer who can move, get yours sold, then move into rented so that you don't leave your buyer hanging around  and you can all move on.

Giggidy

pinkshoes said:

If you accept offer C it puts YOURSELVES in a better position when offering, as your buyer will be the bottom of the chain. 

That's a good point, didn't think of it. Definitely a good bargaining chip if it came down to us being in a similar situation with the buyer having very similar offer amounts 

rexmedorum

Giggidy said:

pinkshoes said:

If you accept offer C it puts YOURSELVES in a better position when offering, as your buyer will be the bottom of the chain. 

That's a good point, didn't think of it. Definitely a good bargaining chip if it came down to us being in a similar situation with the buyer having very similar offer amounts 

I strongly disagree with that. Offer C isn't worth the paper it's written on in my opinion. If they had the cash now, and were ready to proceed, whole different story.

rexmedorum

lookstraightahead said:

getmore4less said:

Giggidy said:

We are in a fortunate position to have received quite a few good offers on our house 25-30k over asking price. The top 3 are so close and we are not sure which best to go with with. I always said I would like to sell our family home to another family / couple looking for a family home. My partner is not that emotional vested and wants highest offer or chain free at least.

Offer A - £28K over, couple in a chain
Offer B - £30K over, family looking for more space but property not yet on market 
Offer C - £30K over, local landlord with large deposit, small mortgage

The EA spoke highly of the landlord, having been doing business with him for years (possible best mate haha! ) . He will only have access to his funds from February which gives us time to find somewhere as there is hardly any new houses come up until probably after Christmas now. Seems the easiest option, chain free, less chance of mortgage valuation undervaluing the house affecting the sale.

The family looking for space could sell their house easily as per the EA, houses in this area literally go under offer within days of coming to market but we are just worried about then possibly being in a large chain, mortgage issues if any.

Decisions, decisions, which option is best?.

Giggidy said:

rexmedorum said:

would the landlord be able to exchange sharpish or only in Feb? If so I would wary that it may not be as easy as the agent makes out.

The landlord will only have access to his funds from start of February, which we said is fine because we are not likely to find anything unti then anyway

how ironic,

you are not even close to being proceedable yourselves

This is a thanks for your interest we are not ready yet,  will decide when we have somewhere.

NO sensible buyer of yours would stop looking or spend any money till then.

Time and time again this is what I'm trying to say. I can't understand why it's ok to not be proceedable as a seller, but not as a buyer.
apparently buyers are meant to hang around for ever.

op, find the buyer who can move, get yours sold, then move into rented so that you don't leave your buyer hanging around  and you can all move on.

Surely during the process somebody somewhere will not be proceedbale. It's surely not possible for buyer and seller to be proceedable before an offer is even made (unless the seller's move doesn't depend on the sale).

Giggidy

rexmedorum said:

Giggidy said:

pinkshoes said:

If you accept offer C it puts YOURSELVES in a better position when offering, as your buyer will be the bottom of the chain. 

That's a good point, didn't think of it. Definitely a good bargaining chip if it came down to us being in a similar situation with the buyer having very similar offer amounts 

I strongly disagree with that. Offer C isn't worth the paper it's written on in my opinion. If they had the cash now, and were ready to proceed, whole different story.

Realistically, we would be lucky if we found anything we really liked before then, bearing in mind properties sell like hot cakes in our area. Anything could go wrong with anyone of the offers we accepted but out of the three that is the one more in our favour if did things go to plan

Giggidy

rexmedorum said:

lookstraightahead said:

getmore4less said:

Giggidy said:

We are in a fortunate position to have received quite a few good offers on our house 25-30k over asking price. The top 3 are so close and we are not sure which best to go with with. I always said I would like to sell our family home to another family / couple looking for a family home. My partner is not that emotional vested and wants highest offer or chain free at least.

Offer A - £28K over, couple in a chain
Offer B - £30K over, family looking for more space but property not yet on market 
Offer C - £30K over, local landlord with large deposit, small mortgage

The EA spoke highly of the landlord, having been doing business with him for years (possible best mate haha! ) . He will only have access to his funds from February which gives us time to find somewhere as there is hardly any new houses come up until probably after Christmas now. Seems the easiest option, chain free, less chance of mortgage valuation undervaluing the house affecting the sale.

The family looking for space could sell their house easily as per the EA, houses in this area literally go under offer within days of coming to market but we are just worried about then possibly being in a large chain, mortgage issues if any.

Decisions, decisions, which option is best?.

Giggidy said:

rexmedorum said:

would the landlord be able to exchange sharpish or only in Feb? If so I would wary that it may not be as easy as the agent makes out.

The landlord will only have access to his funds from start of February, which we said is fine because we are not likely to find anything unti then anyway

how ironic,

you are not even close to being proceedable yourselves

This is a thanks for your interest we are not ready yet,  will decide when we have somewhere.

NO sensible buyer of yours would stop looking or spend any money till then.

Time and time again this is what I'm trying to say. I can't understand why it's ok to not be proceedable as a seller, but not as a buyer.
apparently buyers are meant to hang around for ever.

op, find the buyer who can move, get yours sold, then move into rented so that you don't leave your buyer hanging around  and you can all move on.

Surely during the process somebody somewhere will not be proceedbale. It's surely not possible for buyer and seller to be proceedable before an offer is even made (unless the seller's move doesn't depend on the sale).

Absolutely agree with this, we put offers in but get declined because of not being proceedable, and now we've sold but not proceedable to the buyer, and also have to possibly consider uprooting our kids to rent to appease any potential buyer. Damned if you do, damned if you don't

lookstraightahead

rexmedorum said:

lookstraightahead said:

getmore4less said:

Giggidy said:

We are in a fortunate position to have received quite a few good offers on our house 25-30k over asking price. The top 3 are so close and we are not sure which best to go with with. I always said I would like to sell our family home to another family / couple looking for a family home. My partner is not that emotional vested and wants highest offer or chain free at least.

Offer A - £28K over, couple in a chain
Offer B - £30K over, family looking for more space but property not yet on market 
Offer C - £30K over, local landlord with large deposit, small mortgage

The EA spoke highly of the landlord, having been doing business with him for years (possible best mate haha! ) . He will only have access to his funds from February which gives us time to find somewhere as there is hardly any new houses come up until probably after Christmas now. Seems the easiest option, chain free, less chance of mortgage valuation undervaluing the house affecting the sale.

The family looking for space could sell their house easily as per the EA, houses in this area literally go under offer within days of coming to market but we are just worried about then possibly being in a large chain, mortgage issues if any.

Decisions, decisions, which option is best?.

Giggidy said:

rexmedorum said:

would the landlord be able to exchange sharpish or only in Feb? If so I would wary that it may not be as easy as the agent makes out.

The landlord will only have access to his funds from start of February, which we said is fine because we are not likely to find anything unti then anyway

how ironic,

you are not even close to being proceedable yourselves

This is a thanks for your interest we are not ready yet,  will decide when we have somewhere.

NO sensible buyer of yours would stop looking or spend any money till then.

Time and time again this is what I'm trying to say. I can't understand why it's ok to not be proceedable as a seller, but not as a buyer.
apparently buyers are meant to hang around for ever.

op, find the buyer who can move, get yours sold, then move into rented so that you don't leave your buyer hanging around  and you can all move on.

Surely during the process somebody somewhere will not be proceedbale. It's surely not possible for buyer and seller to be proceedable before an offer is even made (unless the seller's move doesn't depend on the sale).

Maybe not always, but there's such a massive emphasis generally on buyers being ready but sellers loitering for ever - I know it's possibly the present climate and hopefully it will rectify itself but the whole process is skewed.

The op still doesn't have a property in mind (unless I've missed that) and yet they are choosing which one to buy their house - the end result probably being that the buyer will spend a load of money for nothing, and there will be no sale as the house will be down valued (a very real threat) or the mortgage offer will run out (very common) or the buyers will go elsewhere.

Then there are responses that you can choose what's best for the community and disregard whole sections of society because of preconceived ideas about who deserves your home (what utter nonsense).

The current climate will change and when interest rates go up and the market rectifies itself I hope we get back to a process where you put your house on for the max to want to get for it and accept reasonable offers.