Unexpected cash buyer offer before flat on market

[bathsh3ba]

I'm in shock! My very lovely parents rent out a flat and were planning to serve notice to their tenants and put it on market next March. They were then going to let me have the proceeds to buy a house for me and my two girls. We are currently renting somewhere very small that doesn't feel like home and we have had a terrible experience renting - we've never managed to stay anywhere longer than one year, through no fault of our own. So I am so excited about a permanent home.

Anyway, last night my parents phoned and a cash buyer has offered to buy their flat now with tenants in situ. The offer is slightly lower than they had hoped but property is pretty stagnant where they and I live at the moment and it's a good enough price that I could afford to buy. We talked about it and this morning they accepted it.

I won't start to view any houses till their sale has completed as I am signed up to this rental till July in any case and it would be easier if I was chain free. Excited and scared all at the same time!

That's lovely news. I hope it all works out for you.

That's great news.

however, it might be worth going back to them and suggesting a slightly higher price as people rarely offer their best offer first... So say they have suggested £100K, you think it is worth £120K ask them for £120K and say that's what you had had it valued at - they might then come back and offer you £110K - which you can accept or try your luck again and suggest splitting the difference and ending up with £115K - all of which give you a few vital extra £££.

If they don't offer more then if your parents want to accept the offer as is (as they will be saving on teh cost and stress of an estate agent) then that's good too - but if you don't ask they certainly won't be offering it to you on the off chance you want them to pay more! I would guess that they are expecting you to negotiate with them at least once and you can still be very nice about it all!