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What if I have an offer?

6 replies

PineappleB · 04/12/2020 22:36

2 months ago we saw a house we really like. We missed it because we haven't got ready to sell our current one (didn't even start contact agent for marketing etc).

We do want to move to a bigger one. So, to avoid missing good one again, we started get ready to sell our house and contact agent etc
And the house is on market now. Within 2 days, I have 2 viewings arranged for tomorrow

The thing is, since last one, I haven't seen anything I like and obviously the market is quieter now in December.

I do not want to move unless I find something i like. What do I do if someone place offer now?

Feel like it's chicken and egg game. Confused
How does everyone do this?

OP posts:
PowerslidePanda · 04/12/2020 22:58

Be transparent about your position and let the buyer decide whether they're prepared to wait for you to find something. Some will, some won't.

A point to bear in mind though - the market at the moment (where I'm looking, at least) is very competitive. Even if you see something you like, there's no guarantee you'll get it - especially if you're in a chain and bidding against someone who isn't. You might want to consider selling up and going into rented - it's more expensive and more hassle, but means you can find the right house at your own pace and have a better chance of securing it once you do.

Pipandmum · 04/12/2020 23:00

If you get an acceptable offer it is likely to take months to complete as conveyancing is very delayed in most areas at the moment.
But if you don't find a suitable house to buy, then either you tell your buyers that you are still looking and hope they are flexible (they may set a time limit), or you go in to rental. Please be honest with them - do not act as if you are happy to move out then pull out at the last moment.
I would have waited until the New Year myself, as people are concentrating on the upcoming holidays and as you point out stock is thin.

Ro198 · 04/12/2020 23:08

I am in exactly the same position. No one will let me view until I put the house on the market first but then I don’t know that I’ll find somewhere to move to!
When I moved before they would let you make an offer before being on the market, providing there was agreement that it would be put up within the next couple of days with the agent who was selling the one being offered on.

PowerslidePanda · 04/12/2020 23:17

When I moved before they would let you make an offer before being on the market, providing there was agreement that it would be put up within the next couple of days with the agent who was selling the one being offered on

We had lots of interest from people who hadn't yet sold their house! The only way we actually got a sale we could proceed with was by telling our estate we'd only accept viewings from people who were either under offer or chain free.

PineappleB · 05/12/2020 01:08

Thanks. Good to know at least I am not the only one in this position.

OP posts:
GiraffeNecked · 05/12/2020 09:45

We were honest with our buyer, he was FTB, and knew we hadn’t found somewhere. He waited, saving money by living at home, for nearly a year till we finally exchanged.

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