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Original poster

Would you accept this offer?

17 replies

RoseRuby26 · 17/02/2019 21:35

Put our house on market in mid Oct for 325000. Had viewings but no offers. Took off in Dec and then reduced price to 325000 mid Jan when we put it back on. Again had lots of viewings. We have just relieved our first offer. It's full asking price because they haven't sold their house yet. It's not even on the market. They are offering full asking price on condition that my estate agent sells theirs (it's about an hour's drive away). They are selling for 670k. I'm worried that A. We take ours off the market and they don't sell. B. That they will join a chain and we are likely to too. C. This will all be over the Brexit negotiations ( which I suppose is true of any offer). Any advice? Thanks in advance.

OP posts:

twoheaped · 17/02/2019 21:38

I would accept but not take yours off the market.
How is the same price months apart a reduction?

moreismore · 17/02/2019 21:40

I wouldn’t accept until they’re proceedable, that seems to be the norm now.

NWQM · 17/02/2019 21:41

Is it the fact that there house isn’t on the market yet or that you hope to get above asking price for yours that puts you off accepting? How long ago were the other viewings? Is there still a possibility of someone making an offer?

TrixieFranklin · 17/02/2019 21:47

Hi Estate agent here with years and years of experience.
Never take your property off the market for a non proceed-able buyer. Heck, when I last sold my own home I didn't allow non proceedable buyers to even look round! It's potentially a massive waste of everyone's time. You have no idea or control over how long their house could take to sell, it could be days, weeks, months or years. I once had a similar situation with a vendor who accepted an offer like this and after 16months of having their 'buyers' house on the market they decided to re-market and the market had changed drastically and they lost 10s of thousands.

If they are dependant on the sale of their home to buy yours and they aren't even on the market yet you have no idea what the chain will be like, timescale..etc plus if they have to take a hit on theirs and accept a lower offer they will likely chip you on the price later down the line - by which point you'll have been waiting for so long you'll feel like you have no choice.

Your agent, if they are even considering recommending you accept this, are desperate and foolish - they aren't working in your best interest - they're thinking they can get a double deal out of it and get another property on their books off the back of it and get you off their case for a while whilst you're in limbo.

You can tentatively accept their offer in so much that you can negotiate a price you'd accept subject to their sale but do not take your property off the market for them!!

TrixieFranklin · 17/02/2019 21:48

Sorry, didn't mean to be doom and gloom, I've just seen so many people have their fingers burned by similar.

Best case, you agree in principle, keep your property on the market and keep your options open to other buyers and these people market theirs and find a buyer with a complete chain behind them quickly 🤞🏻

BackforGood · 17/02/2019 22:21

Agree with other - the only answer to that is "Thank you for your offer, obviously we can't take it off the market until you are in a position to proceed, so we look forward to hearing from you when you are. Fingers crossed you sell yours soon".

2rach · 18/02/2019 00:02

We put in an offer on a house before our house was on the market (it was going on that week). They agreed we had three weeks or they'd put it back on the market, a good compromise. Ours sold very quickly so all was ok.

PickAChew · 18/02/2019 00:05

I don't think houses are selling quickly, right, now, though.

I'd tell them you'll accept when they can proceed, unless you get a more defi ite buyer.

Desmondo2016 · 18/02/2019 03:28

They're not in a position to make an offer so no. I wouldn't even view it as an offer. Its someone telling you they might make you an offer if they can get an offer on theirs.

ThroughThickAndThin01 · 18/02/2019 03:33

There is no way I’d take my house off the market for people in this position. It might take them a year to sell. They may be offered a lot less than they want and have to therefore offer less on yours. They may still keep looking and find something else they prefer. They may have a change in circumstances.

Far, far too many ifs and maybes to take yours off the market.

twoheaped · 18/02/2019 07:05

We offered on a house before ours was on the market, we were after a very niche property.
Our house sold in 2 days but it was at a very buoyant time and again, our house was unique for the area and priced right.
Everything worked out for us.

Original poster

RoseRuby26 · 18/02/2019 17:22

Sorry originally put on for 335000.

Thanks so much for advice. Yes it does worry me that they are not proceedable. We are a strange layout that won't suit everyone and they love the house and are really keen. They are selling for double our price so the affordability factor is there. Estate agent also suggested 3 week trial and if nothing happens put back on the market. We've had no other offers so feel like it would be stupid to say no. Really unsure what's best.

OP posts:

Original poster

RoseRuby26 · 18/02/2019 17:27

It's not a brilliant time to sell round here. Their house is in Epping, London. Anyone know what the market is like there at the moment? I was kind of hoping as they love our property, they'd be desperate to sell so price realistically but that's probably wishful thinking

OP posts:

TrixieFranklin · 18/02/2019 23:30

Estate agent suggested 3 week trial means 'estate agent has asked us to dick around with our home for 3 weeks whilst they tie these other poor suckers into a sole agency agreement and make sure they win their business, if it all works out that's wonderful and if not we have 2 houses on the market instead of just 1'

Original poster

RoseRuby26 · 18/02/2019 23:32

True. Very true. They know how to talk the talk don't they.

OP posts:

SassitudeandSparkle · 18/02/2019 23:38

No, don't accept it - tell them to come back when they have sold their house. Don't take yours off the market. It doesn't matter if they have offered full asking price or only one pound, they can't buy it right now!

It would really put me off a buyer if they tried this tbh.

WBWIFE · 26/02/2019 01:22

We accepted ours, only because we had a property in mind that we wanted to offer on.

We accepted our buyers offer, and then offered on property we wanted which was accepted, property we were buying still needed to find somewhere, in the mean time our buyers house went on the market and sold within days TO FTB. Our vendors has found somewhere now too So it has worked well, for us.

We have them a 3 week grace to sell

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