Do we accept full price offer???... New to this(26 Posts)
After 16 years in our little terrace, we are selling and have listed the house on Friday afternoon.
We have had a viewing on sat, and 2 today, with 2 more today and 2 tomorrow booked..
The house is really good (I know I sound conceited but we spent sooo long making it perfect, its like nothing else out there! (for size and location.)
It is priced at the top of the pricing for the area.
Had an offer at Full price today... from an apparently strong seller.
Not sure how to play it now..
and how does it all work?
Apparently estate agent can't tell buyers what offers were made, and I suppose will tell them there was an offer today?
Should I just take the offer?
Maybe a few people will want it and then we might get a higher price? and I just being greedy....
Help.. so unsure how to play this..
i mean had an offer from an apparently strong buyer! ;)
Well, I would see through the viewings that you already have booked in today and tomorrow. But after that, if no more offers, I'd accept offer no 1 and take the house off the market on the proviso that solicitors are instructed immediately and things start moving quickly.
Essentially if any of the other people with viewings scheduled want the house, they have to either offer more or be in a stronger position than offer number 1.
I've had agents tell me that there is already an asking price offer on the table before. To be honest, it makes me doubt the integrity of the seller, and I'd feel that they might be ready to gazump if a better offer came in. But you don't have to accept this asking price offer until the scheduled viewings are done.
I think you should accept, move quickly on with the paperwork and start looking for your new house. With the referendum in 4 weeks you shouldn't hesitate.
(that's if they are in a strong position, which I would take to mean they have their own place under offer or have mortgage already in place as FTB)
Speak to your estate agent.
But what I would be tempted to do is tell the estate agent that you want the next few viewings to go ahead, and look at all the offers by Sunday - let them know who you'll sell to Monday morning.
Ask the estate agents to find out as much as they can about each buyer (if they have a chain/want to complete quickly or are willing to work within your timescales/ if they have a mortgage sorted or are cash buyers/how much they are offering/if they have solicitors etc lined up)
So you may get family A who offer slightly less but are cash buyers who have given proof of funds and can work to your timescales. Then family B who offer top money but still need to arrange mortgage and are I a long chain, family C who offer more than A but less than B but have no chain and mortgage arranged, etc.
hmm. thanks all..
i just know that when I looked the other day I was really annoyed to find out it had had an offer and i was not even given the chance to put in an offer..
I actually want to give anyone who wants it the chance to put in an offer..
tricky times.. I think I'll call the estate agent
When we were buying we viewed a few houses that were very popular with lots of viewings. it tended to be that the seller said we will take viewings for a few days then consider all the offers that are made. None of them accepted the first offer.
We actually got our house despite not being the highest bidders because we had a big deposit and were chain free. So it might be worth holding out to see if you get more offers and thinking them all through.
So you don't want your asking price, you actually want more than the asking price?
I'd agree with the pp who mentioned the referendum. t this moment in time I'd be accepting the offer and proceeding as quickly as possible. If time and markets weren't a factor, then I'd let the other scheduled viewings proceed (while not booking new ones) and see if any offers arose from them.
An asking price offer so quickly always makes you think someone might be willing to pay more. Tricky.
I would proceed with all viewings and tell the agent you will accept best offer 48hours after last viewing. I think it's very possible you will get more and the referendum is not go I g to make a jot of difference to the short warehousing market what a load of project fear tosh. And remember the Estate agents don't know, in fact no one knows what your house is worth. it's worth the best viable offer you get so wait for the best offer.
Proceed with all viewings booked and say you will make a decision [x] hours after last viewing.
Estate agent will do their thing going to buyers getting them to give a 'final and best offer' in.
They won't say exactly what offer was made but they will basically say an offer price offer has been made.
Excuse my dimness but how does the referendum affect things?
apparently if we stay in, loads more people come in and house prices go up.
Or is that if we leave?
just get on with your life, it's out of your hands beyond your one vote.
We were in a similar position to you five years ago. We had a fabulous estate agent who really knew the market well.
I can't remember the exact details but we had a price in mind and set the asking price a bit under that. Then there was a week or so of viewings and after a lot of interest it went to sealed bids so we just selected the most favourable offer which was from a ftb ready to proceed who offered the price we had in mind!
Appoint an agent you trust to work for you is my advice!
Re the referendum, it's the fear of the unknown. I would expect the ftse to drop and it may well make people more hesitant to expose themselves to large debts and mortgages, as the future security of their jobs may be uncertain too.
You're in a really nice position with so many viewings.
I would bite their hand off for an asking price offer!
1. Out of courtesy I would complete on all the booked viewings. Up to you if you accept any more.
2. The EA is likely to tell/hint very strongly to viewers that you have already had an offer at the full asking price
3. Sales fall through all the time. It doesn't hurt to have had a few offers in case your "strong buyer" thinks again. The EA can then contact anyone else who offered and say that it is back on the market for best and final/sealed bids/just back on the market for viewings if the market has risen again.
4. Is the offer made actually conditional on you accepting and taking it off the market today?
I'm on the other side of the fence to you.
If you've got an offer at asking price then you're really, really lucky in this market. I can't think why you'd hold on and hedge your bets?!
We had to drop the price of our flat in London because the market has cooled. Most houses here are now going for a little under asking.
If you decide to hold off for someone better, you risk losing a potentially good, motivated buyer. I would hate to think that the places we've offered on have vendors who are thinking of holding out for something better. It's a stressful process and your potential buyer who's offered will have gone through pain and emotional anguish to put that offer down.
I would hate to think that the places we've offered on have vendors who are thinking of holding out for something better. It's a stressful process and your potential buyer who's offered will have gone through pain and emotional anguish to put that offer down.
It is fair to say that you'll complete the viewings over the next  days then make a decision tho. Especially if everyone is informed.
I was in this situation once and accepted the offer and future viewings were cancelled. Looking back im not sure that was the right thing to do and I think I was lucky that thhe buyers were genuine and we completed quickly. If they had pulled out I would have been annoyed at having lost viewings.
I think the advice to have the viewings tomorrow, agent to tell all that an asking price offer has been received and take it from there.
We had a similar situation. First proper weekend on the market, loads of viewings booked. One of the first viewers on the Saturday made a really good offer (of more than we expected to get), I was showing more viewers round when the EA phoned to tell us about the offer.
The EA advised us to go through with the other viewings and see if there were other offers. We got two more, so the EA suggested going to best and final offers with a closing date. Two of the best and final offers were above asking price and we chose the couple who'd offered first. Their offer was slightly lower but we felt they were less flakey buyers.
The woman who'd put in the highest offer immediately tried to gazump them, but we declined as that's not really ok. Also, it confirmed our feelings about her as a buyer.
Surely it depends on the area? What did your agent say? And I disagree on 'this climate'. Houses are going very fast here. We are far from London too. Last year when we were buying and selling, we saw a house that already has an offer at asking price. It was the first day we saw it advertised on right move. We rang and the agent said we must view before that weekend and offers must be higher than asking price. You can be transparent and open without accepting it right away.
We have just out ours on the market and within a week we'd had 2 offers of full asking price. EA advised which to go for.
My DH asked if was worth seeing if anyone would offer more but the estate agent told us that the house was already valued at the absolute top of what it is worth and we risked there being issues further down the line. If the mortgage company value it at significantly less than asking price the whole deal could fall apart.
The market round here is fast for good houses.. especially as most aren't the best / well decorated / properly tidy before pictures.... I knew I would expect to get 170K, and that's what the EA suggested and that's what the offer was for..
House up the road recently completely refurbed (same size, 3 bed with Bathroom downstairs) and was sold for £185 (with ask of £190K)
I really feel we are at the ceiling price.. for this size in this road..
I called the EA earlier and no answer! Love Estate Agents!!
Not sure about the referendum affecting it...
DH thinks we should sell now and rent, in case prices drop..
I just cannot see UK leaving the EU.. especially with all the scaremongering going on by the gov't.. (e.g. your house prices will fall!)
I really thinking I might say will let viewings happen for another couple of days and decision on Friday..
Thanks for all the input. It really helps as I have no idea how all this works!!!
Join the discussion
Please login first.