Offer acceptable but buyer's buyer has no offer

shiraz99

dander said:

Realistically, this "buyer" is NOT SSTC. Offers from non-proceedable buyers are worth absolutely nothing. I would tell them to come back when they have a proceedable offer on their own place and then you will consider the offer. Until then, nothing changes for you.

I agree, they should not have allowed their EA to change their status to SSTC.

ognum

dander said:

ognum said:

I recently sold a property, one couple offered the asking price but had not yet put their house on the market.  We new the couple, they really, really wanted the house, we were not in a great rush.

They put their house on the market with our agent and we gave them a six week exclusivity (gentleman's agreement not legal) to sell their home.  They priced well, sold in three weeks to first time buyers.  We completed quickly.  It can work!

But this could also have gone this way without you giving them exclusivity. If they wanted it they could still price well and sell fast, make an offer and deal done - no-one's saying they can't have the house. But until their sale is agreed, all you have is some people who really, really want something and you can't sell a house on a dream.

Any sale can go wrong, by agreeing to exclusivity we established a very motivated buyer keen to complete and move quickly with their house sale so setting a realistic price for their own home and an EA who wanted to move their home quickly in order to get two commisions.  As I said the house was far from perfect, any buyer could have started negotiating reductions, the gentleman's agreement at the start held throughout, they asked for no reductions from the asking price.

All I'm suggesting is house selling does not have to be the thrusting tussle you suggest but if that's what you want go for it.  My way worked for me!