Offering under

[TickTockBaby]

Opinions please.

This will be our first time selling, our last purchase was a new build as ftb so we've never dealt with a chain before.

A property we are interested in is listed as £270,000, it's listed as chain free.

Because I love the area I tend to keep an eye on houses for sale by the way of Zoopla/ Rightmove subscription emails for that area.

Because of this I'm aware the house was for sale late last year and was marked as SSTC in dec. as it's back on the market obviously that sale has fell through.

I think the house is over priced and looks to be priced so the seller can recoup the costs of some modernisation they've had done presumably over the last couple of years.

If you were a seller in the current hot market do you think having had a previous sale fall through would encourage wiggle room on the price?

We have an AIP and our property is due to list on Friday. We've had input from a number of agents who tell us our own home will sell quickly.

I'm aware I might be asking for crystal ball predictions here but you wise lot are more experienced than I so any info would be appreciated 🙂

I guess it depends why it fell through. If it's a bad survey that's one thing, but if it's just chain collapse that's just one of those things that happens. Also it depends why it's being sold, chain free might mean they are happy to wait it out for a better price.

If the market there is hot though, personally I probably wouldn't consider too much wiggle room, the market has only been increasing in those kinds of places.

In all honesty without an offer on your place I wouldn't even entertain an asking price offer. Maybe go see it and tell the agent you are interested. But I would only offer when you have an offer. Especially if you are planning to go under asking.

I would be most concerned in the position of the buyer and how securely and quickly they could progress.

It'll depend on what offers they had before & how much interest there is this time. It's always a judgement call.

Think you'll need to be proceedable.

It's a seller's market at the moment and houses are selling for more than the asking price. I think your first problem would be that you are not currently in a position to proceed.

Depends why it fell through;
Survey, mortgage, buyer chain broke.

Go and see it, ask questions if they are in a rush to sell.
Being chain free they may be happy to wait for the right offer.
Tell them your circumstances some people are happy to wait for the right price offer.

I agree that you'll likely need to be proceedable yourself- especially during covid as agents are trying to reduce the number viewings that won't lead to a viable offer. We weren't allowed to view quite a few properties until we'd sold and we'd also requested that our agent only permit viewings from people who were proceedable (so not even if their house was still on the market).

I also agree that it depends on why the sale collapsed- if it was a cash buyer who simple changed their mind, or someone tried to gazunder, their own sale fell through etc then I'd say you'll be unlikely to get money off as it's fresh back on the market. But at the end of the day if you view and like it the best option is just to go with what you think the house is worth and offer that!