Is this (un)reasonable re: NOT taking property off the market?

[pikapoo]

We have recently had an offer accepted on a property undergoing probate sale (i.e. someone has passed away and an executor has been appointed to see to the sale of the asset).

We are still in the process of selling our flat (about to list - been prevented from doing so previously for various reasons). We enquired with the seller's agent if it was possible to cease offering further viewings of the property even if the property were to remain listed on marketing websites like Zoopla, but were told the following:

"the appointed executer of the estate with not allow the property to be taken off the market until you are in a position to proceed. Therefore any further viewings must still go ahead and any further offers put forward."

The agent also confirmed that if a higher offer were to be received, we would effectively be gazumped unless we could stump up the difference.

Is this a reasonable situation under which to proceed? I can totally see it from the seller's point of view, and know that in England one is exposed to gazumping at any point right up to exchange of contracts anyway.

It used to be the case that vendors wouldn't even accept a 'non-proceedable' offer, let alone suspend viewings from someone who wasn't a cash buyer / hadn't sold their property STC, so I would say you are very unlikely to have viewings suspended in your current situation.

Yes it is totally reasonable. No estate agent would recommend a seller take their property off the market for a potential buyer whos own property was not already under offer. You need to get your property on the market and at an attractive price so you get as much interest as possible if you want to get this property.

Okay that is helpful to know - many thanks

Yes its completely reasonable of them. You could sell your current property in a couple of weeks or you could take a year to get a buyer. You can't expect them to take theirs off the market until they know you can proceed.

Of course it is. You haven't even sold your flat yet - someone could come along tomorrow and have the money in the bank or at least a buyer for their house. My advice to you if you are serious about moving is to get a buyer for your place first. In this market, many of us have really struggled to sell.

When I was selling I would not accept offers from people who couldn’t proceed. Some vendors won’t even accept viewings.

It’s normal practice. How long should they wait for you to accept an offer? What if you can’t sell? What if you get a lower offer, and then cannot offer them the amount you did originally? There are too many conditions for them to risk, and you would do the same in their position.
List yours for a reasonable price, no messing around, decide what you would accept, and get moved

If it being dealt with by executors then they are under obligation to the estate to get the best price for the property. You may find they will refuse to take it off at all.

I actually think you are being a little unrealistic in expecting any vendor to take a property off the market when you are not a proceed able buyer.

You aren’t in a position to proceed until you have a buyer, therefore your offer can only be treated as an expression of interest at this point, even if the vendor is happy to accept it. You can’t honestly expect a vendor to wait an indefinite amount of time when your property isn’t even listed yet?

And it’s not gazumping if someone comes in with proceedable offer over yours unless you are in a position to actually action the sale. It’s just sensible, regardless of the obligations to the deceased’s estate.

If it being dealt with by executors then they are under obligation to the estate to get the best price for the property. You may find they will refuse to take it off at all.

This. As it’s a probate sale, the executor has to demonstrate they got the best price - it’s not like an owner-occupier’s decision.

Get your flat on ASAP!!