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Do I accept asking price if it is offered today?

5 replies

AvaloniaFunk · 21/07/2020 15:10

House went on Rightmove on Friday for 335K
Had 4 viewings yesterday with one offer of 325K who is proceedable. We are planning to decline that offer as it is very early days but not sure on the wording of our response.
Do we decline 325 and say we are letting all the viewings run that are booked for this week? OR do we say decline 325 but if she can offer asking price we will take it off the market and cancel those viewings?
There is another viewing today which will definitely go ahead and 7 viewings booked later in the week but only two of these are porceedable as it stands.
The EA is strongly advising, in response to today's offer, to say if they can come back to us with the asking price we will take it off the market and cancel the viewings for the rest of the week. She says this potential buyer was on the verge of offering on another property before seeing ours come onto the market and we may lose the offer entirely if we delay.
Is this good advice or shall we let those viewings run, even though most of them are not yet proceedable and we may lose a potential buyer?

OP posts:
Randomnessembraced · 21/07/2020 15:26

Whatever you do it is always a bit of a gamble. If you have a good proceedable buyer you go back positively and thank them for their offer but point out there is a lot of interest currently and that they didn’t offer asking price and that that is what you are looking for. Many sellers say no to the first offer from a party and many buyers start out offering slightly lower than what they are prepared to go up to. But we don’t know how desirable your house is - some houses Tick all the boxes, in school catchments and end up going over asking price whereas it is also possible that some people say no to a great buyer early on and then regret that. Ultimately the question is about how much money you need to move on. It isn’t always about trying to squeeze the max out of the situation. I have accepted slightly lower in the past as I liked the buyers and knew they would get the deal done quickly. I find it difficult to deal with people who question everything/try to niggle at every point etc/time waste etc

AvaloniaFunk · 21/07/2020 15:38

Thank you.
I understand and don't want to be the niggly person. I just wanted to make sure that the EA was advising us well and in our interests rather than anything else.

OP posts:
sbplanet · 21/07/2020 20:43

If you're happy with an asking price offer and it's made then take it. Are you wondering owing to the number of viewings whether the EA has under valued the property? The EA will no doubt be keen on sealing a sale, how much more do they make if your selling price increases by £10k?

GrumpyHoonMain · 21/07/2020 20:58

If you are happy with the offer then accept it but ask the EA to let you know of other offers (and proceed with viewings) while the buyer’s identity etc is checked.

My0My · 21/07/2020 21:08

I would go back and negotiate to split the difference. £330,000. You have no idea if the other viewers are time wasters. Ask the agent about their position. If they were dead keen they would have come round to see it before the weekend. We’ve always had a “bird in the hand” attitude to offers. Take what you get. You might not get another. The earlier in the process, the better. Way better then having to reduce it and never move (unless you truly expect a bidding war of course!)

Check the prices of sold houses near you. It’s fairly easy to work out a fair price unless you are unique. Why would you or the agent market it at the wrong price? Get The offer up a bit and take it. Job done - find a new house with confidence.

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