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Ok, Please Help me out of this moral dilema???

43 replies

Evesmama · 16/06/2005 13:01

Now got two offers of asking price on house and another guy coming at weekend who already knows this!

so taking him out equation..two first time buyers, both can move asap, one has large deposit, one has to get 100% mortgage(but already has it in place i think?)....

i would hate to be on the receiving end of this, but it is very likely we will be..so what should itell agent???

go with first couple?
go with second couple?
ask them to both make offers again?
tell them the best ofer gets the house took of market and will agree it will go to them?

aaaaaarrrghhhhhhhh

me, i would let anyone have it
but the new house is v.v.expensive...should i say make offers..aarrrghhhh

OP posts:

Report

ninah · 16/06/2005 13:03

Yup supply and demand, highest offer wins! Lucky you

Satine · 16/06/2005 13:04

This is business: you should try to get as much money as you can! Ask for offers. If you want to be nice, you can always chuck in some fixtures and fittings later but an extra couple of thousand could really come in handy!!

throckenholt · 16/06/2005 13:05

I would say whichever can confirm they have the funds and commit to completing when you want it.

I guess I would lean towards the ones with a big deposit because they can probably get a mortgage mor easily.

Evesmama · 16/06/2005 13:46

s.i.l says go with first couple and have other as back up

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hunkermunker · 16/06/2005 13:48

We had this as buyers.

We were asked to make our final offer in a letter to the estate agent. We got the flat, as we decided we could go to the asking price and the other people didn't.

You could say that to them since you have two offers of the same.

WigWamBam · 16/06/2005 13:49

Have you asked your estate agent what they would advise you to do?

Heathcliffscathy · 16/06/2005 13:50

sealed bids imo. horrible for your buyers but it is how it is....and include third lot in the bidding process...you need to get as much as you can for your house...

Evesmama · 16/06/2005 13:52

estate agents say they cant advise me what to do!..what the hell!, they are there to sell my house and get me best price arnt they???

been advised not to do sealed bids??by another mnetter?so was gonna aska gent to inform both of them of eachother and maybe ask what their best and final offer would be????

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hunkermunker · 16/06/2005 13:53

Who advised not sealed bids and why not? Interested, not confrontational!

Heathcliffscathy · 16/06/2005 13:53

but that is effectively sealed bids! sound out your estate agents...WHY can't they advise you? do they think that there is a chance both would pull out. seriously. you obviously have a house that is both desirable and/or sensibly/under priced!

houses are worth what people pay for them. was the price you put it on at the highest valuation you got?

SoupDragon · 16/06/2005 13:55

Go to sealed bids and include the 3rd guy in this if he wants to make an offer. It's business and you shouldn't get sentimental.

We won our current house in a sealed bid situation.

Evesmama · 16/06/2005 13:55

was hula..she said it was very streesful for seller?

we actually put house on for what 'we' thought it was worth..in the middle of the cheapest and most pricy one on estate...so there has been others sold for a few thousand more than ours?

OP posts:

SoupDragon · 16/06/2005 13:56

It's stressful for the prospective buyer, i can tell you that!!

SoupDragon · 16/06/2005 13:57

Sealed bids in excess of the asking price with the house being taken off the market.

Heathcliffscathy · 16/06/2005 13:58

right so even if you want to see it in moral terms, you are robbing your vendors, you just haven't put yours on for the right price!

whether sealed bids or just make me an offer, you will regret it if you don't get as much as you can for this house. if you make it clear that this is the last round of bidding then you are not prolonging the agony for any of them either!

Heathcliffscathy · 16/06/2005 13:58

i meant NOT robbing your vendors!

Heathcliffscathy · 16/06/2005 13:59

arghhhh i meant NOT robbing your BUYERS!!!!

hunkermunker · 16/06/2005 13:59

Moving house is stressful! Not knowing who to sell to is stressful! Sealed bids is stressful, but a final way of doing it. It's more stressful for the buyer, I think!

Evesmama · 16/06/2005 13:59

this is it!

remove all clicks except one on danesford place, then search, mine is one at bottom?

OP posts:

Evesmama · 16/06/2005 13:59

actually that should be all set up, just hit search.

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edam · 16/06/2005 14:00

Ask your agent to advise you which couple are in a better position to proceed - the agent should know their financial position and talk to their solicitor. Check whether the 100 per cent couple do actually have their mortgage in place. But sealed bids looks like the only way to go. Stressful for them but this is business. Although you will, of course, treat them reasonably, you can't let sentiment do you out of £1000s.

SoupDragon · 16/06/2005 14:03

I think sealed bids is the fair way to go - a simple highest bid wins, no questions. Especially if all parties are in similar situations (ie first time buyers with no chain)

Having said that, when we won ours it was not actually fair at all - DH phoned up just before the deadline and asked if the others had offered. EA said "yes, they put in the asking price" so we went £500 higher. We had been prepared to go much higher as we felt the property was undervalued.

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otto · 16/06/2005 14:03

Your estate agents sounds awful. We had a similar situation and our estate agent told us not to worry about it and that he would deal with it as that was what we were paying him for. After all, it's in the estate agent's interest to get the highest price for you as it means more money for him/her. Anyway, congratulations on getting this far. It's such a relief once you do start getting offers.

Evesmama · 16/06/2005 14:24

thanks

just spoke to manager of agent(shes straight forward to the point of insulting you!..she said the second couples mortgage application is not as straight forward as the first apparently second couple had something come up when applying and were told to go away and sort it and also something else was mentioned, which wont be logged yet???debts i think , but second sounded like ccj ?????

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crunchie · 16/06/2005 14:28

In that case it is obvious, go with first couple, but stall until after the w/e. If the 3rd guy puts in an offer too, and it ready to go (like the first) then ask for final offers - with financial circumstances being taken into account. IYKWIM.

You HAVE to get the best price you can, but once you have made your choice, then stick with it.

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