Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To not just accept the first offer on my house?

73 replies

Worried1305 · 28/11/2024 15:07

Selling our house at the mo. It’s been on the market for a few days and we’ve already had substantial interest (although admittedly no actual offers). We’ve now had an offer at the asking price, but it is from an “investment company”. The estate agent sounded extremely pissed off earlier when we said we wanted to take some time to consider it.

AIBU to hold out for a higher offer even though we’ve been offered the asking price? The estate agent just sounded so utterly fed up with us!

OP posts:
BusyCaz · 28/11/2024 15:12

Unless you don't want to sell it to an investment company on principle as apposed to a person/family you are being unreasonable.

Clariana · 28/11/2024 15:13

You have been offered the asking price, by a company which presumably has everything in place to proceed, what are you waiting for? Unless you want more money than you asked for?

Ggmores · 28/11/2024 15:13

Why did you put that as your asking price if you wanted more? How would you feel if you got no further offers?

ItsyWincy · 28/11/2024 15:14

You can absolutely wait. Give them a timeline though. Say we will let you know in a week and hopefully youll have a few more views within that week. Waiting any longer than a week is a bit off though.

Newtoiletseat · 28/11/2024 15:15

You've had the asking price of course you should accept it. We've seen this on mumsnet before. OP gets greedy and says no. Whole thing backfires. OP goes back to whoever wanted to buy it and they say no then.

LimeYellow · 28/11/2024 15:15

You can wait, but you may regret it if you don't get any more offers at the asking price.

TheSilkWorm · 28/11/2024 15:15

Do you think there is going to be a bidding war over your house?

gamerchick · 28/11/2024 15:17

Asking price, less likely to fuck you about? Might backfire on you if you play games.

ViciousCurrentBun · 28/11/2024 15:18

It’s dire trying to sell currently, if you need to sell just do it.

something2say · 28/11/2024 15:18

I was coming on to offer you support, but the prevailing wind seems against... What I will say is that you might feel an investment company may not be very nice people and some home buyers would like the house more. You might also secretly be hoping for a higher offer. I think the market will prevail there and you will get what it is worth to someone. You might get another offer very soon for a couple of thousand over the asking price, if your house is lovely and would be sought after.

I had a flat from a redevelopment and I moved in, split with partner 6 months later and wondered if I could sell so soon. The estate agent came to see me and said there were over a hundred people registered as interested in the properties and as soon as mine went back on, I had loads of viewings and a very high offer on day two, which I went for. Having lost out on sales and purchases in the past I felt I wanted to get a nice good offer, if the market supported it, and so that would be my advice to you. Go with the offer you are happy with and take the chances that this brings.

EdgyDreamer · 28/11/2024 15:21

Well it doesn't matter what the estate agent thinks - but the actual asking price and company sound like an offer that won't fuck you around.

Were you banking on more time ? - a company may well be more flexible on timeline than a person moving.

Our current house we put full offer in within week on going on market and I think that lead to delays with them as they weren't ready but weren't going to tell us in case they lost the sale - so dragged on for months and we had to decuple our sale and buying and move in with family and put our stuff in storage for 8 weeks in end.

TheHateIsNotGood · 28/11/2024 15:23

Hmm - tough one if you are not keen on 'principle'. I'd be the same and I also would baulk at a second-homer too. YANBU to state your concerns to the EA and wait a bit to see if the initial interest produces a viable and proceedable offer by someone who intends to live there.

JeremyFischer · 28/11/2024 15:26

The estate agent wants a sale to line their own pockets. So it's obviously in their own interests to pressurise you to sell.

But why wouldn't you want to accept an asking price offer? What don't they have that you need?

40YearOldDad · 28/11/2024 15:31

This does seem a little cray, full asking price, don't bat an eyelid about who the buyer is.

An investment company, child care home, gay couple, if it's for sale, get it sold.

Oreyt · 28/11/2024 15:37

How much over the asking price are you hoping for?

CautiousLurker1 · 28/11/2024 15:37

An investment company can likely pay more than your average domestic buyer because the latter will be scrimping and saving to do their upgrades (new kitchen, bathroom, extensions etc), whereas the IC will likely have a team that do all that at cost so they will make savings there. If they’ve offered the asking price, and presuming you didn’t have an ‘offers over X’ [ie they are offering at the minimum you would start negotiating at] then you should really just accept and move on.

If you wait the EA can go back to them in a few weeks/months to see if they are still interested, but they’d likely reduce their offer at that stage as you’ll not have had any interest. They may even walk because your lack of ability to sell it would mean it’s not so desirable to them after all.

TLDR - just accept and move on.

WearyAuldWumman · 28/11/2024 15:38

Worried1305 · 28/11/2024 15:07

Selling our house at the mo. It’s been on the market for a few days and we’ve already had substantial interest (although admittedly no actual offers). We’ve now had an offer at the asking price, but it is from an “investment company”. The estate agent sounded extremely pissed off earlier when we said we wanted to take some time to consider it.

AIBU to hold out for a higher offer even though we’ve been offered the asking price? The estate agent just sounded so utterly fed up with us!

Our old house was put on the market last December. I got one offer the first week from a landlord - pretty close to the market value. (We'd advertised as offers over 10k below the market value, if that makes sense.)

Was told that two other people wanted to view, so I didn't accept - but sweated all weekend, in case I'd done the wrong thing. My estate agent was quite calm about it.

One viewer didn't get back in touch. The other viewer offered almost the market value. Bloke wanted to buy the house for his pregnant daughter. I accepted.

Might be different from your situation - the house was worth less than 100k.

Dotto · 28/11/2024 15:40

Unless you're advertising it as offers above and have some promising viewings booked in, you would be making yourself look silly to piss about for a week with asking price on the table.

honeylulu · 28/11/2024 15:41

Asking price, yes you should accept unless you have competing offers at the same time.

I turned down a first offer on a flat I sold and EA was really annoyed but that was some way below asking price. I held out and a couple of weeks later I got a notably better offer (different buyer) though this was also below asking price but only slightly.

Asking price is what you were willing to sell for, so sell it. Investment company is less likely to have trouble getting finance, won't be in a chain, won't get emotional/ cold feet ...

Lillixyng · 28/11/2024 15:43

I am surprised that your EA did not market ‘offers in excess of’ . In view of the good response I would ask him to amend this.

Crumpleton · 28/11/2024 15:49

I'd accept the offer on the condition that that is the actual offer and no messing around from them.

Last thing you want is to have your property hanging about then in months to come you having to drop the price.

Equally you don't want this company starting to play the 'we'll only offer this much now' once you've removed it from the market
So I'd ask what their plans are and how quickly they can move forward.

All this of course depends on whether you are serious sellers and have somewhere in mind to move to or are just hoping to have offers on yours then start umming and aaaring before looking to buy elsewhere.

winsomewoman · 28/11/2024 15:51

Jump at it. No chain and a businesslike attitude. Talk about turning down a golden opportunity... Puts you in a strong position when purchasing your next property of you 're not part of a chain.

Strictlymad · 28/11/2024 15:55

Chain free at asking price, you’d be bonkers not to accept… my aunt had a good offer, said no she wanted more, the buyer walked, 2 years later it was still on the market which had tanked and she needed up with 50k less than that original offer.

Bluevelvetsofa · 28/11/2024 15:56

Are you concerned about what the investment company might want to do? Redevelop maybe. Or something else?

Presumably, you put the house on the market at a figure that was recommended or suggested by one or more agents, so it’s reasonable to assume that it’s priced to sell.

As PP said, it depends whether you want to move, need to move, are desperate to move and whether you have an onward purchase in mind.

If you’re serious about moving, I’d accept the offer, providing it’s agreed that the purchase price is now fixed. Asking price offers in this climate and at this time of year are not common.

RawBloomers · 28/11/2024 15:56

Presumably you took the estate agent’s recommendation on the asking price and you’re now thinking he low balled it to get a quick sale, possibly even with this investment company in his back pocket mind?

You may be right. I have zero confidence in the professionalism and honesty of UK estate agents. But it’s a risk. Lots of interest but only one offer, and that from an investment company, may mean your place has a lot of curb appeal but isn’t as attractive in person. Or it may be that people who want to buy for themselves just aren’t in a rush to put in offers just before Christmas. It’s hard to know.

How much would it matter if you didn’t sell in the next 6 months?