Cut our losses?

gcpc1

LDR - You may have to consider an bid lower than what you hoped for. Something is only worth what a person is prepared to offer for it - be it a house, car, coat or tin of beans.

I wouldn't have thought that offering cash in excess of £250k is illegal but more like a commonsense approach to avoid paying a higher stamp duty fee, which kicks in at £250k. I don't know what price your property is being marketed at, but you could do a deal of £250k plus £x for 'fixtures and fittings.' I'm sure solicitors do this kind of thing all the time.

I'd keep things professional and don't let the EAs poor grammar, etc. put you off!

Hope this helps.

flipcat

Our buyers last year made an offer in August and by xmas we were still playing the waiting game,it took till the end of Jan to complete and dont want to make anyone go more on a downer in this position but the house had been on the market 4 mths before the offer in all 9 mths from begining to end,saying that when we sold a few years back it took 4 weeks from day of going on the market till completion day so just goes to show.

LDR_2

Conrad wrote: »

LDR
The real issue here is greed. If you priced the property correctly you would have had 'ready to go' buyers snapping at your heals long ago.

I think that's a little unfair.

The agent priced the house and I took his advice. When it first was on the market we were quite happy to accept lower offers. However, our agent advised us against accepting the lower offers. Maybe it was naïve for me to listen to my agent. I do believe our property was priced below other similar properties on the market.

Anyway, our trouble isn't with getting or accepting offers.

When we did accept an offer, we actually removed the house off the market as a gesture of goodwill. I think gazumping is an awful thing to happen to someone having been there myself and wasn't prepared to be responsible for it happening to someone else. Is that the sign of a greedy person?
The buyer actually disappeared and that was the only reason we put the house back on the market.

Conrad wrote: »

You obviously consider yourself to be morally superior to the agent, yet you insist on squeezing people for every penny you can get.

My agent suggesting doing some illegal which I simply wasn't prepared to do so I think you may be correct about me thinking I am morally superior but with good reason I would have thought.

We've accepted an other offer (which was still under the asking price) and without any negotiation I might add. The offer was withdrawn while we were overseas and then a few days after our return, it was remade. We had no contact with the agent or buyer between the time the offer was pulled and then remade.

It's a good offer and yes we'd rather not lose it. Not only because of the loss of cash but the fact that we have to go back to square one again. We do want to sell the property for a decent price but I'm not sure that's quite the same as insisting on squeezing people for every penny you can get.

Our buyer hasn't come to us asking us to drop the price. It's something we may consider as we are aware our property isn't worth what it was when the offer was made. However, we can't even get her solicitor to reply to any of our queries let alone enter into a discussion.

Conrad wrote: »

always avoid potential clients comming to me with checklists - a sure sign of a troublesome. finnicky personality type.

Before choosing an Estate Agent, I did some research about the kind of things I should look out for and the questions I should ask. I am selling the biggest asset I will ever own and I thought it sensible to make sure I was going to get the best service I could. I'm not sure why that bothers you? Surely, it would be foolish not be finnicky?

Conrad wrote: »

I dont mean to be mean, but a bit of reflection might be in order.
And why refer to your Wife as a Good Lady Wife?
What is Bad Lady Wife?

I am thankful for you taking the time out to reply to my concerns and you have given me food for thought.

Do you think I should go back to my Estate Agent and say if I drop the price will that help with the buyer's mortgage offer?

The Good Lady Wife thing is just a habit I got into and is a nickname that I've used for her since our wedding day.

LDR_2

gcpc1 wrote: »

I wouldn't have thought that offering cash in excess of £250k is illegal but more like a commonsense approach to avoid paying a higher stamp duty fee, which kicks in at £250k. I don't know what price your property is being marketed at, but you could do a deal of £250k plus £x for 'fixtures and fittings.' I'm sure solicitors do this kind of thing all the time.

We already have the fixtures and fittings as part of the sale for a few hundred quid.

The excess the estate agent was talking about was tens of thousands of pounds.

LDR_2

flipcat wrote: »

Our buyers last year made an offer in August and by xmas we were still playing the waiting game,it took till the end of Jan to complete and dont want to make anyone go more on a downer in this position but the house had been on the market 4 mths before the offer in all 9 mths from begining to end,saying that when we sold a few years back it took 4 weeks from day of going on the market till completion day so just goes to show.

Did you know what the hold up was?

We're not in a chain and neither is the buyer.

Looking at the bright side, we'll now not have to endure two winters in a row.