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Original poster

Had an Offer on my house already! what to do WHAT TO DOOOOOOOOOOOOO?

60 replies

FangAche · 28/10/2005 12:42

It's on the market at oo £62k.... I wanted at least £65k. Offer is £66k, but I've had so much interest and another guy is supposed to be putting in an offer today.

WHAT DO I DOOOOOOOO? Take what he's offered.... or hang off for a better one!

I told the Estate Agent to tell him we had other viewers and would get back to him on Monday. Is that fair?

I just DON'T know what I'm doing!!! We don't have a house to go to yet so what would be a realistic entry date to allow us to find somewhere to live??????

OP posts:
noddyholder · 28/10/2005 12:45

It is more than you wanted so I would take it.You can now look for a house Why is there a rush?Take your time and let the solicitors know you want your sale and purchase to coincide that is normal practice I think.Well done you are really lucky in the present climate I am at the valuation stage Another smarmy estate agent at 2pm!

QueenVictoria · 28/10/2005 12:46

That sounds okay to put him off until monday Fangache. (Where approx do you live for properties at 62k?)

Im sure he is aware that you are looking isnt he? So he might not mind being in a chain - some people arent if they are first time buyers etc.

Thats about as much as i know on the subject but we are househunting ourselves and about to put our house on the market so i will be watching this thread for the heaps of advice!

Enid · 28/10/2005 12:46

take it

Original poster
FangAche · 28/10/2005 12:46

Noddy - Its all happening so fast. The picture only went on the website on Tuesday this week!! Its not that we're in a hurry..... but it seems everybody else is!

Good luck.

OP posts:
ninah · 28/10/2005 12:46

agree, take it provided everything else looks good

Original poster
FangAche · 28/10/2005 12:47

QV - I'm in Central Scotland. Its a 2 bed ex-council semi.

OP posts:
Original poster
FangAche · 28/10/2005 12:47

I s'pose I better speak to DH about it!!

OP posts:
spidermama · 28/10/2005 12:47

Yes. Take your time. Don't feel rushed. It's a lot of money and a big decision. Make it go at your speed. If the person really wants it they won't mind waiting til monday.

Frizbe · 28/10/2005 12:48

Take it, our neighbours are desperate to sell, they're selling both their houses and moving to a pad of their own, but they can't shift either house at the mo, as lots of people stuck in chains, if the worst comes to the worst you can always rent for a while, at least your not stuck in a chain!

expatinscotland · 28/10/2005 12:50

Take it, have a bottle of bubbly tonight to celebrate, and then hit the pavement tomorrow to find a new house.

Congrats!

tribpot · 28/10/2005 12:50

No no, never take the first offer! Ask for 68 and see what happens. If they say no, agree on 67 ...

If you have potentially multiple offers, are you not going to a closing date?

Original poster
FangAche · 28/10/2005 12:50

Should I go to closing date of next Friday?????????

OP posts:
QueenVictoria · 28/10/2005 12:54

Yeah, actually - accept it!

Oooh - snap! 2 bed ex council semi too so there's definitely hope for us (I know ex council puts ALOT of people off).

Congrats

JoolsToo · 28/10/2005 13:01

if you're getting 'lots' of viewers I'd wait - ask your Agent about sealed bids - you could make a killing

tribpot · 28/10/2005 13:03

I'd go to a closing date, FangAche, then you don't have to feel rushed into making a decision but also don't have to lose your potential buyers. Huzzah for Scotland's house selling system! What does your estate agent say? They should pushing for the best possible price given it's their commission (unless they are on a flat fee, in which case they'll want what's quickest, I guess)

tribpot · 28/10/2005 13:04

And agree with Frizbe, chainless buying and selling is definitely seen as a plus point nowadays.

Blu · 28/10/2005 13:05

It's the scottish system, isn't it?

Bids are always higher than the asking price?

Wait - at least til Monday, but tell agent to tell the one who is supposed to be making an offer to do it quickly or he will lose the house.

sweetkitty · 28/10/2005 13:06

I'd go to a closing date as well. It's usually at least 10% offers over isn't it but I know some people have paid up to 30-40% over the asking price for a house they want.

Good luck x

seb1 · 28/10/2005 13:10

Go to closing date next Friday, I know somebody
who was in the same situation as you put it to closing date got one more offer and the original offer was upped by £20K. Just make closing date asap. Has it gone to survey yet?

seb1 · 28/10/2005 13:12

Have any neighbouring houses gone recently check out what they went for.

tribpot · 28/10/2005 13:14

Yeah, offers over you should expect about 10% over the asking price (sounds mad but there you are). Mind you, I sold mine fixed price, and still got 8% over the allegedly fixed price. I could have got more as well if I had stopped for a moment, but I was out of the country at the time so just pulled a figure out of the air randomly and they accepted it.

Gomez · 28/10/2005 13:17

In general a closing date would be set when there are at least 2 notes of interest, normally with surveys completed too but not always.

Has your potential buyer come back Toothy and said they are happy to wait until Monday?

sweetkitty · 28/10/2005 13:26

Wish I had sold my flat under the Scottish system but it wouldn't have got near what it got (sadly) but would have saved us laods of aggro.

Gomez · 28/10/2005 13:30

As very skint owner of two homes and two mortgages due to the fabby Scottish system don't wish so hard sweetkitty it has its faults too.

tamum · 28/10/2005 13:30

God no, don't accept the offer, go to bids. Are there any other notes of interest? People will bid way more in the sealed bids than open offers. We were in exactly that position with a flat, had several offers, turned them down and went to closing. Made vastly more than any of the offers, and from the same people.