UPDATE: just had an offer- what now?

[SkinnyGirlBethany]

Hi,

Well we went on the market Monday- live on RM on Tuesday had a viewing today and they have put in an offer. Our EA rejected (she advised this) and now they are coming back with an increase. We were on for 214,950- offer was 207,000.

They are 'cash buyers' and said they would rent until we found somewhere- how long will this take? What q's should I ask the EA? How long do I have to find somewhere?

still in shock

First of all, are you happy to accept a lower offer? Has the EA any more viewings booked? Are you in a hurry to sell? No need to make a decision today.

Regarding finding somewhere - it all depends on the market in your area. Have you looked at anything yet? Is there much on RM in your target area and price bracket?

We moved in September having put house on the market mid-April. Think we had accepted an offer by the end of May, and had our offer accepted by the end of June if that's any help.

the increase is 211,000

Take it with open arms and happy house hunting, sound like ideal buyers.

Congratulations! However do check that the EA has confirmed "cash" is actually in place. We had "cash" offer a couple of weeks ago and the buyers have yet to actually confirm they can get some of the "cash" as a mortgage!

Yes, I am amazed that many people don't seem to understand what exactly is a cash buyer - ask for confirmation in writing from their solicitor that they really are (ie no mortgage is required).

Were going to accept tommorrow- had an awful evening- dd1 full of a cold and my car broke down!

God I really expected to be on the Market a long time. Dp is really doing my head in as he thinks this early offer is a sign we put the house on too low (helped by my mum suggesting this, she has been on the Market her self for a year and is renting hers out ATM! )

Or perhaps your house is exactly what they've been waiting for?

Get that confirmation though - lot of people think "cash buyer" means "we don't have a chain behind us" whereas it actually means "we don't need a mortgage". And check the "cash" is ready to go and not tied up in an investment / only available once a divorce has gone through etc ...

Just accepted Eek ! Time to find a house!

Great news. Lucky you!

Us too!
Must be some kind of pre Christmas thing........... we weren't even on the market, had only got as far as agreeing a price with the estate agent and us going to put house on market after Christmas.
He had someone specifically want our size / type of house so brought them around last week, they offered just under asking price and are happy to rent until we find something to buy (and we thought we may have some difficulty with price as just over a stamp duty bracket) so two days later and we've accepted!
All very weird, but in a good way.
So, like you say, time to find a house - good luck Skinnygirl!

Dotty which county are you in if you don't mind?
Muttering darkly about EA's. We had 3 round 6 weeks ago and 2 said wait for new year to go to market.

I'm in Herefordshire.
They are probably right, that was our plan, we just got lucky I think!

That isn't much of a drop in this market. But do check their position, we got massively misled by the buyers of our last place.

And then today we offered on, and had our offer accepted on a house I never thought we'd be able to buy! Soooo excited! And they're moving on out into rented (a separation sadly) so hopefully should be relatively quick and painless. Fingers crossed!

Wow well done dotty! Well we've got a 2nd viewing on one we really like tomorrow. It's an amazing school catchment area and in a lovely hamlet. So we'll prob get our ea to offer on it tomorrow- Eek

Thrilled for you all. Please can you ensure trend continues into new year

ooh good luck buggyrunner!
Munster, sending good buying / selling vibes your way now.....