House offer what would you do?

[Travelcrazy]

We have marketed pur house at £269,950 and we have had 1 viewing after a week. FTB and they came for 2 viewings and were gushing about how perfect it is, they loved everything and said they wouldn't have to do anything at all.
1st offer 10k below 2nd offer 5k below and they have said its their final price.
We had it on the market last year and got 4 full asking prices on the first day of viewings but it fell through.

We have offered on a house but it's still on the market, it is stretching us financially and needs some work so we could really do with the extra 5k. but we also don't want to lose it.
We are in a real dilemma so any advice welcome. Thanks

I would go for the 5k reduction but leave it on the market and continue with viewings until they’ve had their survey so they don’t use that to try to play silly games then.

Bite their hand off. It’s a buyers market in most areas.

My DH has just come home and said shall we counter offer £268,000 I said i am not sure 🤔

I’d take the £5k under. Someone else might come along with a higher offer, but if not, you already have a buyer.

How desperate are you to proceed? You will need to be proceedable to have an offer accepted on the other property. You’ve only had it on the market for a week and especially with this week being the last week before summer holidays, I expect one of your target markets, young families, has been preoccupied this week. However, to save the stress of 50 viewings that go nowhere, if I had an offer I wanted to make elsewhere, I wouldn’t quibble over £5k unless I was prepared to wait out another buyer.

It depends what the market is like in your area. Are things languishing or selling in your price range?

In my area, I’d accept that offer. Houses here have been on the market for months. What does the agent think?

5k is not that much in the grand scheme of things, I would take it and not risk losing a buyer for that amount.

Take it!! FTB and offer is only 5k below asking.

Don’t start quibbling over 3k: they are in an excellent position. Agree to accept on condition they get surveys sorted asap.

Id be very happy with that offer I've never paid the asking price for a house

OK thanks everyone really appreciate your advice it was really useful

If you're set on buying the house you've offered an intent to buy on I'd accept the offer you have on the table, otherwise you risk a proceedable buyer coming alone before you've sold your's. If you don't mind waiting to see if another house you like comes on the market, then you could hold out for a better offer.

If you've only had 1 person view during the first week of being on the market, you may be waiting a while to get another offer, let alone a higher one. We're getting lots of viewings, but the asking price offers so far have come from people who are waiting to sell their houses. By this point if someone proceedable makes me a lower offer, I'm inclined to go with them just to get out of the limbo of viewings (not to mention the time and effort sent prepping for them)!