Which offer best to accept?

user1977

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.

I suppose because it is at least feasible for a seller to move out and allow their sale to complete (they don't necessarily need to complete a purchase to do so), and they've got more likelihood of finding somewhere to buy anyway. Whereas if a buyer needs the funds from their sale, that's one particular property which needs to be sold.

Greymug

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?.

A or B because they need it more.

I hate landlords so I'd rather get less and/or wait than selling to them

Alter_ego

Greymug 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?.

A or B because they need it more.

I hate landlords so I'd rather get less and/or wait than selling to them

Greymug 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?.

A or B because they need it more.

I hate landlords so I'd rather get less and/or wait than selling to them

It's a business transaction, not a love match

lookstraightahead

Alter_ego said:

Greymug 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?.

A or B because they need it more.

I hate landlords so I'd rather get less and/or wait than selling to them

Greymug 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?.

A or B because they need it more.

I hate landlords so I'd rather get less and/or wait than selling to them

It's a business transaction, not a love match

Agreed - I'm wondering how much someone would hate someone if it were the only offer on the table for a year. Everyone has their price.

lookstraightahead

Greymug 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?.

A or B because they need it more.

I hate landlords so I'd rather get less and/or wait than selling to them

It's a family home, what if the landlord has a "lovely stereotypical family" waiting for a roof over their heads?

or, how about the op reduces the price to accommodate a more 'needy' family who cannot afford the house at all?

lookstraightahead

This thread is bizarre. So many assumptions about 'types' of people and how much they deserve a property, or not! 

getmore4less

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.

The issue is the EA have created this bottom up market with this ridiculous requirement.

All chains have to start at the bottom with someone with nothing to sell......... building one at a time.

Before this nonsense everyone worked on both ends of their move and chains point would build in parallel

The sensible thing to do now is keep the offers on the table and find somewhere then review if they are still there.

even as a potential buyer if I had an offer accepted, would keep looking, would not be spending a penny till they had found somewhere and started the process.

lookstraightahead

getmore4less 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.

The issue is the EA have created this bottom up market with this ridiculous requirement.

All chains have to start at the bottom with someone with nothing to sell......... building one at a time.

Before this nonsense everyone worked on both ends of their move and chains point would build in parallel

The sensible thing to do now is keep the offers on the table and find somewhere then review if they are still there.

even as a potential buyer if I had an offer accepted, would keep looking, would not be spending a penny till they had found somewhere and started the process.

Very sensible post. An impression has been created that vendors don't want "time wasters" viewing their properties. The problem is buyers rush to get DIPs which you can get in 5 mins off t'internet or put across the impression they are ready to move purely to satisfy the first stage of viewing a house. Then offer way above the asking price in a frenzy to get somewhere while the vendor (EA) puts pressure on with "if you don't offer now you are doomed".

Meanwhile the vendor is lulled into this false sense of security that there are 6k buyers flocking around so there's no rush to find anywhere, they're staying put until they find their dream home with the impression their house will always be a money tree.

Then the buyers get fed up, or they can't get their mortgage after all, or their mortgage offer runs out, or the house is down valued' or they're getting a bit old as they started this process when they were 35 and they're now 104.

End result vendor is no further forward and is still sat in their house.

go figure! 

rexmedorum

Giggidy said:

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

Of course anything could go wrong with any of the offers Call me cynical, butoffer C sounds designed to go wrong though.

Thrugelmir

getmore4less 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.

The issue is the EA have created this bottom up market with this ridiculous requirement.

What solution do you suggest in order to put proceedable chains in place?