Which offer best to accept?

getmore4less

Thrugelmir said:

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? 

People need to be able to look for a buyer and an onward purchase at the same time.

That's they way it had been working fine.

Still needs timing, there will be places that slot into a different chains to the one you are trying to build.

No reason not to be working the bottom the top and the middle bits all at the same time.

GixerKate

So what option did the OP go for in the end?

Personally I wouldn't touch option c at all - I've accepted offers from a landlord on previous properties and each time they have just disappeared leaving me in the lurch, lesson learnt on that one.

The first offer although very slightly lower is proceedable, the others are not.  Based on the info on this thread I would accept Option A and start looking asap for a place to buy.  I have always had a viewing list before I've put my property on the market so that I can hit the ground running when an offer gets accepted but thats just me.  I don't see the point of waiting around and prolonging the stress of moving longer than it needs to be.

Giggidy

GixerKate said:

So what option did the OP go for in the end?

Personally I wouldn't touch option c at all - I've accepted offers from a landlord on previous properties and each time they have just disappeared leaving me in the lurch, lesson learnt on that one.

The first offer although very slightly lower is proceedable, the others are not.  Based on the info on this thread I would accept Option A and start looking asap for a place to buy.  I have always had a viewing list before I've put my property on the market so that I can hit the ground running when an offer gets accepted but thats just me.  I don't see the point of waiting around and prolonging the stress of moving longer than it needs to be.

We went with Option C in the end. We have been looking since well before we put our own on the market and and put a few unsuccessful bids in, and haven't stopped, but unfortunately the market has died down a lot since then in the areas we're looking. I have all the alerts, registered with agents, on Rightmove every day just checking and checking for any new houses. We're keen to get things moving along, and there was never any suggestion of delaying anything if we could help it.

This is why we went with the landlord because he won't be ready until Feb which will at least give us more time to find something in Jan when the market picks up again hopefully. He might find something else and blow us off, he might try to reduce, he might just change his mind. Or he could just buy our house and we find somewhere we like. Who knows, but we got to keep it moving.