Offer choices

khickey88

OK so I sold my house to a 1st time buyers(had a lot of interest all 1st time buyers) it's on a newish build estate 6 years old we then found a house and they have a house then their sellers are looking to rent which ends the chain brilliant. But our buyer dropped out. Not great but not the end world. We've had a day of viewings and and a few offers but my question is who is in a better position out of these....

1. So we have a 1st time buyer that offered 210k before even viewing. She viewed the house and tbf I didn't really like her attitude. But she'd need a mortgage.

2. This one is someone that viewed the house last time we sold and turned up at my door to explain his offer and tbf got on well with. He offered 200k but he's not a 1st time buyer and has accepted an offer for his house from a cash buyer and he can used the money from that sale and savings to buy mine cash only no mortgage. But be adding 1 more to the chain. 

I know our neighbours house sold last summer for 195k and the mortgage lender down valued it to 190k so I was happy if we get anything from 190to 200k with both offers are but with the 210k offer it's obviously not guaranteed as a mortgage is needed.

Which offer is best? 

Sunsaru

What does your gut tell you?

My instinct is No 2.

propertyhunter

No 2. for me too. 

eddddy

Have you told number 2 that you also have an offer of £210k?  Maybe they'd match or exceed it, which might make your decision easier.

TheJP

eddddy said:

Have you told number 2 that you also have an offer of £210k?  Maybe they'd match or exceed it, which might make your decision easier.

That could backfire, if i was No.2 and the seller said we have an offer from No.1 at £210k can you match it i would immediately think they either don't have an offer from No.1 or they are squeezing me for more money as they prefer me over No.1. I wouldn't budge/go find another property.

No.2 would be my preferred choice as they will have realistic expectations regarding buying a property, the FTBs have gone in high and will likely negotiate every scuff mark in the house. 

Noneforit999

Number 2 all day long for me but I could afford to take £10k less due to the equity we have.

If you can't afford to take £10k less then there is your answer.

Option 1 wouldn't be a no for me but I would want to know more like does she have a DIP and what is her LTV etc. If there is no DIP and she only has a 5% deposit, I wouldn't be entertaining this over Option 2. 

ReadingTim

What does your EA say?  That's part of what you're paying them for, so make them work for their money!

Flugelhorn

I would be very wary of anyone (especially FTB) who offers without seeing it - could easily view later and decide they don't like it / want to reduce offer etc

(2) sounds much more promising and sensible

khickey88

Yes I spoke to him at the door and explained to him everything and the offers I have he's selling with the same agent as me aswell and he's been in the same situation as me (been looking for well over a year buy as house) he's definitely interested. 200k is his limit but I'm well happy with 200k I planned everything over only selling for 185k. 

I wanted a 1st time buyer to end the chain just like it was when I made the offer on the house we are buying. But my gut is going with no. 2 mainly because of the attitude of no. 1 and she didn't even seem bothered.
I may speak the agents of the house we are buying and see what they think and if they are happy to have 1 more added to the chain. 

Jaybee_16

Number 2 for me as well. Had someone like your number 1 when I was selling my flat. Offered more than anybody else without looking and withdrew the offer a few days later. 

khickey88

No1 did view the house..
Haven't spoke with my agent yet this all happened last night and il be speaking with him later to see what he thinks and to make sure they have proof of money and deposit. But as my agent is the same as no2s agent he should known the ins and out of his sale.