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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To reject this offer on my flat

64 replies

ComeUpandSeeMe · 13/09/2022 16:25

I am single and selling my flat. It is a lovely flat and I have been very happy living in it for several years. I could happily stay, but have fallen in love with another, bigger one on the market that I would like to put an offer on and I need a buyer to do so. The new one is also quite unique and if I don't get it, I would rather not move somewhere else. However, it doesn't seem to be getting much interest so there is a high likelihood that I will get it if I can get into a good position and line up a buyer for my flat.

I started to have viewings on my flat and received an immediate offer of the asking price, but the asking price was quite conservative. I had a lot of further viewings lined up so asked the potential buyer to wait until after those. I have since had to postpone viewings because I came down with norovirus yesterday and can't have people in the flat for a couple of days. In the meantime, 4 others viewed and did not offer. The original potential buyer is now pushing for a response but I have not been able to have many viewings (I think about 6 are still outstanding).

Oh, and the reason I mention that I am single is because I am making these decisions solo and don't really feel like I know what I am doing! It is the first time I have sold a property.

WWYD?

YANBU - Decline the existing offer, you might get a higher one
YABU - Accept the offer in hand, you might not get another one

OP posts:
alwaysmovingforwards · 13/09/2022 20:09

But don't ask, don't get.

It's the bloody agents job to get you the best price and increases their commissions. Should be a bread and butter conversation.

DotBall · 13/09/2022 20:23

This ‘ebay for property’ merry-go-round is a pain in the arse. There is a perfectly good auction system for people who want their property to be bid on.

The ‘offers over’ nonsense is just so wrong for buyers. How do they know that the ‘other offers have been made over asking’ is actually true? It encourages lies and deceit. DS upped his offer on two flats and was ‘outbid’. Fuck that. He completes on a flat on Friday (fingers crossed) and had to offer 11k over asking to secure it, but said to the agent not to bother coming back to him if it wasn’t accepted as he wouldn’t be going any higher.

Flats round here are still going for crazy prices. Identical flats like those he lost out on back in May are now going for 15k more than he offered over asking. Heat is still on for now in this town.

LuaDipa · 13/09/2022 20:34

I can see totally your point of view but from a buyers perspective, if I offered asking price outright with no other offers on the table and the vendor didn’t snap my hand off I would assume they were chancers and move on. If you really want the new flat and don’t want to lose this buyer I would accept the offer.

DotBall · 13/09/2022 21:01

LuaDipa · 13/09/2022 20:34

I can see totally your point of view but from a buyers perspective, if I offered asking price outright with no other offers on the table and the vendor didn’t snap my hand off I would assume they were chancers and move on. If you really want the new flat and don’t want to lose this buyer I would accept the offer.

Absolutely, I agree.

Qwerkie · 13/09/2022 21:15

I’d rearrange the viewings for the first available day possible and then if you get any more interest ask for best and final offers. Don’t sack off the rest of the viewers who are keen to see it. If the buyer really likes the flat they can wait another couple of days

Snugglemonkey · 13/09/2022 21:18

I am in Scotland. If a house is offers over here, you would be needing to offer at least 10% more. We are currently buying and went 20% over to get the house taken off the market rather than going to a closing date.

Original poster
ComeUpandSeeMe · 13/09/2022 21:48

LuaDipa · 13/09/2022 20:34

I can see totally your point of view but from a buyers perspective, if I offered asking price outright with no other offers on the table and the vendor didn’t snap my hand off I would assume they were chancers and move on. If you really want the new flat and don’t want to lose this buyer I would accept the offer.

I would agree if the flat had been on the market a while, but she was the first person to view it on the first day it went to market and acknowledged that her offer was at and not over the 'offers over' price. All I said was that I wanted to let the other viewings happen - there were 12 booked within 24 hrs of going live, but only 5 have happened due to me becoming ill.

OP posts:
Original poster
ComeUpandSeeMe · 13/09/2022 21:50

alwaysmovingforwards · 13/09/2022 20:09

But don't ask, don't get.

It's the bloody agents job to get you the best price and increases their commissions. Should be a bread and butter conversation.

I am not finding the agents that good to be honest. I seem to be dealing with about five different people at once and they are not joined up.

OP posts:
sunshinesupermum · 13/09/2022 23:53

If there is no chain I be would still take the offer and get your dream flat. Five people have viewed and none of the others wanted to put in an offer on your current one. That'd be enough for me to make up my mind.

DeadHouseBounce · 25/11/2022 17:49

BrioNotBiro · 13/09/2022 17:13

Where I am there market has very much flattened now. I'd bite the hand off an asking price offer.

Most regions probably in the same boat now I would say.

Cosmos123 · 25/11/2022 17:56

ComeUpandSeeMe · 13/09/2022 16:25

I am single and selling my flat. It is a lovely flat and I have been very happy living in it for several years. I could happily stay, but have fallen in love with another, bigger one on the market that I would like to put an offer on and I need a buyer to do so. The new one is also quite unique and if I don't get it, I would rather not move somewhere else. However, it doesn't seem to be getting much interest so there is a high likelihood that I will get it if I can get into a good position and line up a buyer for my flat.

I started to have viewings on my flat and received an immediate offer of the asking price, but the asking price was quite conservative. I had a lot of further viewings lined up so asked the potential buyer to wait until after those. I have since had to postpone viewings because I came down with norovirus yesterday and can't have people in the flat for a couple of days. In the meantime, 4 others viewed and did not offer. The original potential buyer is now pushing for a response but I have not been able to have many viewings (I think about 6 are still outstanding).

Oh, and the reason I mention that I am single is because I am making these decisions solo and don't really feel like I know what I am doing! It is the first time I have sold a property.

WWYD?

YANBU - Decline the existing offer, you might get a higher one
YABU - Accept the offer in hand, you might not get another one

You got the asking price.
Stop messing the buyer about.
Say yes or no.

If you want more what didn't you price is at such.

Prices are falling so maybe it will be the best you get.

Whatever you decide put the buyer out of their misery.

Artygirlghost · 25/11/2022 18:13

Very silly in my opinion in this market not to accept the asking price, especially for a flat.

It seems you are hoping that there will be a bidding war for your flat but you have no guarantee that this will happen.

If I were the buyer I would withdraw my offer if you started playing games with me and move on to another property.

user1471517900 · 25/11/2022 18:15

Let's hope the OP made a decision in those two months

DeadHouseBounce · 27/11/2022 13:40

LampLighter414 · 13/09/2022 18:10

You can drag it out as long as you wish. They either put up with it or withdraw.

If the place is nice then it will sell.

Did your agent get feedback from the ones who viewed and did not wish to make an offer?

"If the place is nice then it will sell."

Yes, but not at any price, presumably this buyer walked away weeks ago?

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