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Making offer on a house but haven't sold ours yet.....???

(11 Posts)
ButtonMoon Sat 14-May-05 19:45:38

Are you allowed to do this? Would our offer stand?

lemonice Sat 14-May-05 19:49:46

Unless you are in a position to go ahead without selling your home then it won't be taken very seriously by the seller and they will continue to market their property. But the agent must put any offer forwrad to the seller so you can.

Evesmama Sat 14-May-05 19:50:49

thye can accept but on the condition that no one in better circumstances comes along sooner...not fair is it

ionesmum Sat 14-May-05 20:38:37

If your offer is a good one, the owners may be advised to accept it but give you a cut-off date by which you must sell your own house. Some friends of ours have just done this with a house they were selling, and the people buying managed to sell their house very quickly. I guess it would depend on whether your own place is likely to sell quickly, which it may do if it is not yet on the market. If your offer is good, and you do get offered a period of time in which to sell your own home, you can make it a condition of you offer that the house is withdrawn from the market for that period of time, although the owner doesn't have to agree. It is a buyer's market atm so the owner may be prepared to give you a chance. If you don't ask, you won't find out!

The other alternative is of course a bridging loan, but you only should consider this is you think you will be able to sell you rhouse very quickly.

Dh and I are trying to buy a house atm, so I know how nervy it is. Good luck!

Mirage Sat 14-May-05 20:53:17

We did this.We knew that houses in the area we wanted to buy in only come up for sale every 10 years or so,so there was no point in putting ours up until there was something we wanted to buy.Luckily,our offer was accepted,the vendor took the house off the market & we put ours up for sale about 10 days later.We priced it reasonably as we wanted a quick sale & sold it within 3 days to the 1st viewers.Our buyers were in the same situation & I have to say,although we accepted their offer,we kept the house on the market until they found a buyer for theirs.

We found that a phone call every week or so,to keep everybody involved informed of how things were progressing,took a lot of stress out of the whole business,& proved to our vendor that we were serious.Our buyers had an offer from a FTB within 3wks of their house going on sale,so we are just waiting to exchange contracts now & crossing our fingers that it doesn't go bandy!

I'd go for it-nothing ventured-nothing gained.

joash Sat 14-May-05 20:57:48

We're selling at the monent and to be honest - I wouldn't touch the offer with a barge pole...been there, done that and cost us lots of money waiting for the buyer - then six months down theline, she let us down three days before everything was to be completed because she discovered that she was entitled to a council house.

emeraldefmach Sat 14-May-05 21:39:32

ButtonMoon, we put in an offer on a house and unbelieveably, it was accepted despite the fact we had not sold ours. The vendor was lovely but I have to say it was hairy-scary after that. We had several buyers that pulled out and many times I thought our vendor would give up on us. It all ended well and we are now in our lovely house. It doesn't always go that way unfortunately.

tigi Sat 14-May-05 22:09:14

can you not rent your house, which will cover that mortgage?

ButtonMoon Sun 15-May-05 09:13:12

Ours has been on market for 6 months now....really cheesing me off! Should I have a chat with agents first? Vendor has already bought another house and therefore doesnt need the sale of her house to buy.

Spacecadet Sun 15-May-05 09:57:27

we did thisrecently, put an offer in on a house but hadnt sold, vendor accepted but we were advised he would continue to market his house and would sell if anyone in a posistion to proceed came along, we accepted an offer on ours but the woman hadnt even put her house on the market, then another couple came along who were in rented, offered the right priceand our estate agent advised us to accept, felt really mean but shecould take months to sell hers.

dinny Sun 15-May-05 10:05:51

we've had an offer from someone who has a flat to sell - we've old her we can't accept it until she has a firm offer on hers.

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