Hi
I am just after a bit of advice.
We sold our house in the week before lockdown and agreed a price of £459. Obviously lockdown put the brakes on everything, then stamp duty was lifted and we are seeing a mini boom now in our area.
2 identical properties have since come on the market in the last 2 weeks at £485k Exact same house similar condition.
We are upsizing in the same area and what we are looking at has also increased in price meaning we will need to pay more than expected (albeit with stamp duty taken off)
I want to be fair to our buyers as they have waited patiently however I can't help thinking it doesn't put us in the best position as due to the increase in prices we 'could' potentially achieve more for our house to put toward the increase to upsize.
Any advice on how to approach this? should I just honour what was agreed and just accept timing was against us. I don't want to appear as opportunistic/greedy but equally want to make the right decision that doesn't leave us short.
I guess there's nothing to say the 2 houses don't sell at those prices so perhaps it's a case of holding fire as we haven't found anything yet and depending on the price of the house we find it could still work out.
I also realise it could have gone the other way and prices fell so the coin would have been flipped to our buyers.
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Price agreed before lockdown
21 replies
Chellors123 · 08/08/2020 13:18
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