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We have an offer on our house! Do I add any conditions to accepting it? Also I need advice as I've never sold before!

(7 Posts)
MrsFogi Tue 30-Oct-12 11:44:41

I'm a bit of a novice at this - we have an offer on our house. The buyer has a mortgage agreed in principle BUT can't convert that to a firm offer for 2.5 weeks as they need another pay slip + needs to remortgage another property. So a couple of things I'm not clear on. Should I accept the offer and take the house of the market or accept the offer but keep the property on the market until in 2.5 weeks the buyer really has their financing in order. Also, either way when I accept the offer do I put in stipulations about timing of lining up surveys and seeing movement from the conveyancers? If so, can anyone give me an idea of what is reasonable? Any advice gratefully received as this is the first time I have sold!

schobe Tue 30-Oct-12 11:49:51

Doesn't sound like an offer to me!

I'd be tempted to tell them to come back to you in 2.5 weeks. But if you want to be encouraging, you could let them know if the amount would be accepted by you at that time, provided no other offers have been made.

I definitely woudn't take the house off the market. The pay slip thing sounds a bit dodgy tbh.

I'm not sure that you can put conditions on timing of their surveys really, though you can say you want everything to be quick I suppose. You might as well say you'd like everything to go smoothly without a hitch! If wishes were horses...

MrsFogi Tue 30-Oct-12 12:11:26

Thanks schobe - the pay slip thing is to do with the offeror being in a new job in the UK and needing the third payslip.

MrsFogi Tue 30-Oct-12 12:38:30

Just bumping in case there are any gurus in the lunchtime crowd!

mycatlikestwiglets Tue 30-Oct-12 14:30:19

I would be concerned about them needing to remortgage another property before they can apply for a mortgage on yours - if they don't have finances in place their offer isn't proceedable. I think schobe's advice was good - tell them that you would accept their offer in principle but that you would like them to come back to you once their finances are sorted. I wouldn't take the house off the market in your position - although if you've had it on the market for a while and think a further delay of 2.5 weeks might make them drop their offer, the position might be different.

If you want to move by a particular date I would specify that, but unfortunately as the seller you have no real power to insist on anything. It's a buyer's market atm and they hold all the cards. Good luck!

KazzaRazza Tue 30-Oct-12 14:31:03

The 3rd payslip thing isn't an issue. Lenders generally ask for 2 or 3 months payslips so if he's started a new job then that explains why he has to wait.

I would be inclined to keep the house on the market. Advise the buyer that once he has a survey booked on your place then you will take it off the market but until then you will keep showing it.

MrClaypole Tue 30-Oct-12 16:15:28

They are not in a proceedable position.

You can thank them for their offer and tell them to contact you again when they are in a position to proceed.

Meantime, house stays on market!!

We are in same position (with proceedable offer tho). Re timescales, EAs have set out a time plan (completely unrealistic!) and solicitors have asked when all parties (chain of 3) would like to aim to move. But it will all depend on how quickly the process happens I guess.

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