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Oh wise MNers, please tell us whether to accept this offer!

(10 Posts)
AnnaBegins Tue 20-Nov-12 12:22:20

Our house is on the market for 115k, and has been since June. We have had 3 increasing offers over the last few days from the same couple, and they (and the estate agents) say that their latest offer of 107k is the highest they can go.

Trouble is, we'd said all along that 108k was our cut off (break even on a renovation project.) Should we accept?!

To confuse matters, another couple have fallen in love with the house but not sold their own yet, so I'd feel doubly bad if we accepted an offer which wasn't theirs. They want to pay asking price! But obviously can't yet. (I have left an answerphone message to fill them in on the latest offer, which I think is only fair.)

So my head says, accept, my heart says, no, we've worked hard on this house and besides the other couple saw it first!

What should we doooo??

GrannyRat Tue 20-Nov-12 12:38:17

I'd accept the offer. It's only £1000 under what you wanted and I honestly wouldn't worry about the first couple - not in this market.

BobbiFleckmann Tue 20-Nov-12 12:41:42

have you found something you want to move into? if yes, accept it if not, then let them know you have an asking price offer on the table but since they're in a better position (are you sure they are by the way?) you'll take £108k.

Cahooots Tue 20-Nov-12 14:08:14

I would accept......... if they are proceedable. I wouldn't worry about the other couple, you have to do what is best or you.

frostyfingers Tue 20-Nov-12 14:23:18

Bird in the hand and all that. What happens if the couple who haven't sold can't sell...? You are then stuffed! I'd take what's on offer now but make sure that they really are proceedable.

typicalvirgo Tue 20-Nov-12 14:26:51

It depends on your situation.

Do you need to move quickly ?

The other couple dont mean anything to you. This is a business transaction. Dont let emotion cloud your judgement.

If it were me, we'd put the house up for sale, we wanted to move then I would definitely accept it.

EIizaDay Tue 20-Nov-12 14:35:17

Oh gosh, yes, accept it. You will kick yourself if they withdraw interest.

jeee Tue 20-Nov-12 14:37:31

Forget the other couple - they're not in a position to proceed, and even if their house does sell there's no guarantee that they'll actually offer the asking price when it comes to the crunch.

And the offer you do have sounds pretty good to me in today's market.

Flossiechops Tue 20-Nov-12 15:00:35

What if you don't except and it lingers even longer? We lost money on the last house we sold despite adding an extension and renovating top to bottom, however the house we went onto buy came down more so it all balanced out. It depends how desperate you are to sell but 1k seems a very little amount to quibble over in this market

AnnaBegins Tue 20-Nov-12 16:06:55

Wow thank you for all the responses! I think you are all right, we'd be mad not to accept the offer (they are first time buyers so good to proceed.)

DH is pretty much sure we should accept too, just not sure as we don't quite know where we are moving yet!

Thanks!

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