Finding “serious” buyers and adding conditions to accepted offers

janoid19

We are about to exchange/complete in the next few weeks but we are on buyer number 4 and thats with our EA only allowing viewings to proceed-able buyers. 

Its such a frustrating process. Crossing all my fingers for you.

BikingBud

The vagaries of the English property selling "system".

Massive potential for abuse, bluff, late change of mind, price increase, price decrease, delay, hiding issues with the property, or neighbours.

Not sure this will make  any difference to any of those problems. home-buying-and-selling-to-become-quicker-and-cheaper

It needs to have level of standard information that can be relied upon by both parties and jeopardy to buyer and seller for pulling out.

ReadySteadyPop

AskAsk said:

ReadySteadyPop said:

AskAsk said:

Albermarle said:

Would it be unreasonable/confrontational to:

1. State that any offer will be accepted with a condition that the buyers instruct solicitors, send searches and book a survey (eta: e.g homebuyers survey) in the first 2 weeks - if this doesn’t happen, we will go back on the market.

It can also be the other way around.
The seller accepts an offer but leaves the property on the market, until they ( or their EA) see a full approved mortgage offer ( the lender will have seen deposit proof of funds before making the firm offer) and that solicitors have been appointed and got in touch.
Maybe even wait for a survey as well, although that might be pushing it.

problem with this is that the EA aren't interested in marketing the property any more once they think they have found a prospective buyer, so although they may agree to leave your property on the market, they may not actually take any viewings.

only way for this to work is to advertise with more than one agent.

buyers may also not be interested in proceeding if the property is still on the market as they may waste money and someone else come along and make a better offer.  i wouldn't entertain spending any money if the property is not taken off the market.

In this case the buyers were offered a price reduction and they still seem to have found a better/different deal.

my response was to a comment of instead of advertising the property with conditions, to accept offers but not to take the property off the market until all the points have been achieved, like the solicitors having been instructed and searches paid for, and survey carried out.

it is very unlikely someone would spend all this money when the property is still being advertised.

Unless they found a much cheaper property that ticked all their boxes?

Hoenir

ReadySteadyPop said:

AskAsk said:

ReadySteadyPop said:

AskAsk said:

Albermarle said:

Would it be unreasonable/confrontational to:

1. State that any offer will be accepted with a condition that the buyers instruct solicitors, send searches and book a survey (eta: e.g homebuyers survey) in the first 2 weeks - if this doesn’t happen, we will go back on the market.

It can also be the other way around.
The seller accepts an offer but leaves the property on the market, until they ( or their EA) see a full approved mortgage offer ( the lender will have seen deposit proof of funds before making the firm offer) and that solicitors have been appointed and got in touch.
Maybe even wait for a survey as well, although that might be pushing it.

problem with this is that the EA aren't interested in marketing the property any more once they think they have found a prospective buyer, so although they may agree to leave your property on the market, they may not actually take any viewings.

only way for this to work is to advertise with more than one agent.

buyers may also not be interested in proceeding if the property is still on the market as they may waste money and someone else come along and make a better offer.  i wouldn't entertain spending any money if the property is not taken off the market.

In this case the buyers were offered a price reduction and they still seem to have found a better/different deal.

my response was to a comment of instead of advertising the property with conditions, to accept offers but not to take the property off the market until all the points have been achieved, like the solicitors having been instructed and searches paid for, and survey carried out.

it is very unlikely someone would spend all this money when the property is still being advertised.

Unless they found a much cheaper property that ticked all their boxes?

Doesn't need to be cheaper. More desirable perhaps. Lots more on the market now to chose from.