Take a really low offer or wait?

[DoctorRose]

I'm really low today, don't know what to do :(

On the market at offers over £630k (reduced since going on the market last Nov). We have really low offer of £580k that was later upped to £600k. Thats the max they can afford.

Similar properties marketed at around £680k mark are under offer. A couple of properties that need full refurb are on the market at £580k (ours is in great condition).

Our situation: DH and I are doctors. DH was offered a job in North London (his preferred specialty). We decided its great for his career and he took it up. He moved into a flat share there and we put our house on the market. I'm struggling to manage on my own with two small children (2yr old twins) and a full time job. Renting it out is not an option as we see this move as permanent. We will be buying there but a bit later as I will get a salary hike next year once i finish my training. We are chain-free for this sale.

Our agent has been rubbish. Doesn't answer calls, puts zero effort into negotiating (just conveys offers to us). I'm super pissed with them.

Shall I take the low offer or change agents to market it again?

Sounds like your house may have been on at too high a price initially as you say other properties in the area are selling? I think the housing market will continue to stagnate and possibly drop so i would take the money and run. You could put a link to your house to get more specific advice.

< 5 % below asking price is not a low offer if the buyers are in a good position to move forward, in the current economic/political climate.

If you accep the offer but the sale later falls through then I would change agents as this point (depending on contract you have with the current agents).

I think that sounds like a reasonable offer in the current market climate. After so long on the market and considering your situation I would be inclined to accept.
I don't know where you are based, but in our area the market is really slow and lots of people have reduced their asking prices.

That’s not a low offer, you should definitely take it.

Take the offer, it's only worth what people are prepared to pay.

Thanks ladies. We now have another offer. £613k - small chain, but the chain is complete. Take it?

Take the 613 and move on seeing the chain is now complete.

Offer accepted :) Thanks everyone. Hope it all goes fine. Fingers crossed !