The buyer of my property may be offering too much - advice needed

lookstraightahead

Lovely to hear op, but wait for the proper bank valuation and take it from there.

Grumpy_chap

UnderOffer said:

Grumpy_chap said:

AlexandraW84 said:

Hi all,

Please could I get some advice on selling my flat - I'm having an attack of conscience.

I'm selling a ground floor flat in a popular town, in an enviable location, with 2 garages. Since having a baby we are keen to move on and buy a house.

After a very sluggish post-pandemic market for flat sellers, the flats around here have started to sell again and we jumped at the opportunity.

My flat had an asking price of £285k, and three asking price offers were made. The estate agents played a bit of a blinder, and returned to all the interested parties and asked them for "best and final offers". Two of them stuck with their original offer, but the third put in a higher offer of £300k. Understandably I accepted this offer.

Thing is, I'm feeling guilty that the "best and final" approach might have made this buyer bid higher than necessary. I met him and his daughter during viewing, and they seem like genuinely lovely people.

To add some context: A neighbouring ground floor flat, with 1 garage recently sold for £270k. It perhaps needs a bit more modernising than mine, but I can't help but worry that in the future when the 'sold house prices' get published, my buyer might feel a bit cheated having paid £30k more for one extra garage.  I'm not sure what the exact value of the second garage is...not sure it equates to £30k though.

Then the other half of me thinks: you'll have to pay an inflated price for someone else's house, so why not take the money?

Not sure what the right thing to do is.  Any advice or thoughts?

You are worrying too much - just accept the money.

I'd pay £30k for a garage if I could find one in the area where we are.  All depends on what part of the country you are.

Yep, exactly what we did, moved to an almost identical house but with extra garage for £30k, that space was worth this to us. 

The last freehold garage for sale in our road sold Christmas 2019 for £113k.  I know as I was interested, but the price went to way way more than I could pay.

Zerforax

Your having a baby and moving for your expanding family. Surely all the extra money you can get is good for your future? You haven't hoodwinked or pressured the buyer to offer what they felt was the property was worth.

Gers

The buyer of my property offered way over the asking price, her solicitor even advised her of this, however she really wanted the flat and was a cash buyer.  I didn't refuse (it was a Confirmation sale) and distributed some of the excess to the family.