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!
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.
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