WWYD offer from first viewer.

[birdladyfromhomealone]

We just put our BTL on the market on Thursday eve, first viewer was another LL who said he would prefer our single mum tenant to stay, which is great news for us and for her :)
However he offered 10k under the asking price.
WWYD wait for a better offer seeing as it has been on the market less than 24 hours or accept as its best all round for our tenant as she will not have to move?
We were not expecting an offer so quick TBH.

Depends how much the price is. For instance if your property is on above 250k then you might accept it.

If it's less than 100k then maybe you go back and meet him in the middle at 5k.......

Be honest with yourself ... what price did you have in mind that you would accept when you put it on the market?

Why not accept in principal, but keep marketing it until survey is booked and see what else turns up.

Be up front with the buyer.

No one expects their first offer to be accepted, meet him in the middle at 5k under.

Thanks about an hour ago we asked us if he would meet us in the middle to take it off the market. will update when we hear back :)

a fast offer from the first viewer suggests he thinks he is getting a terrific bargain and wants to get in before someone else offers more.

With a tenant in situ the buyer is more likely to keep her if he moves quickly - continuity of rent and no void is worth quite a bit to a LL. The longer the house is on the market, the more likely tenant is to find somewhere else and give notice. Plus incoming LL does nothing to the house in order to get a letting.

a fast offer from the first viewer indicates an eminently saleable house! But as proved, no-one ever offers their full price at first go; why would you?

good luck, OP - the process doesn't have to be a nightmare. The house I'm now sitting in sold in two weeks, and one down the road has sold in a week. Correct prices, decent area, good houses etc etc. Wow - we're not even in London.

But that's the same as giving your tenant £10,000 to leave! She would probably prefer that.

If the offered price (plus £5k) is what you had in mind, accept.

We sold our house to the first viewers, they offered a bit less, we met in the middle. They were first time buyers, we were moving into renting, it was a lot less stress than chains.

For our new house we were the first viewers, offered asking price, had no chain and got it. After survey we managed to knock a bit off because it was a dump but we would have bought it anyway.

we offered our best offer at first go! (but it was full asking price).

as others say it depends on what you were hoping to sell for

We heard back that he will not up his offer! So will continue with the viewings!