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Original poster

Should I accept this offer?

69 replies

Housely · 12/01/2022 23:10

On paper this looks like a no brainer but I have no one to discuss this with and would be so grateful for opinions.

My house went live on Boxing Day, with an open day planned for last Saturday. One of the couples who viewed on Saturday have already been back for a second viewing, and have today offered full asking price on condition I cancel all further second viewings.

They are cash buyers and seem very nice and genuine. Do I go with it? Or, bearing in mind, it’s been less than a week, should I be sensible and just wait a bit? Tia.

OP posts:

Kizziebel · 14/01/2022 12:30

I was in a similar situation, but on the other side, I offered full asking price, no chain on either side , only a small mortgage required and I was keen for a quick completion as I was living with relatives after completing on my flat sale.

The vendor wanted to honour the viewings booked and would let me know the following week. By the time the estate agents rang me to confirm my offer and to let me know I was the current front runner I had already had an offer accepted on an alternative property so they lost me as a buyer.

The housing market is moving so quickly, your buyer isn't going to wait around, they will be booking other viewings, you may lose them and there is a chance you may end up with a long protracted chain. If you are happy with the offer then go with it, don't get greedy

Dinosauraddict · 15/01/2022 08:29

Well done @Housely !

Riverlee · 15/01/2022 08:31

Thanks for updating us.

shenanigans5 · 15/01/2022 08:34

Everything in our area is going to best and final and going for £££££ over asking so I’d have done that in your shoes but the market where you are may not allow for that.

Dillydollydingdong · 15/01/2022 08:46

It's standard. Why would you not take the house off the market if they're offering you what you've asked for?

BluebellsGreenbells · 15/01/2022 08:52

By the time the estate agents rang me to confirm my offer and to let me know I was the current front runner I had already had an offer accepted on an alternative property so they lost me as a buyer

If they accepted your offer, you could still have found somewhere else and made another offer. Makes no difference here.

shenanigans5 · 15/01/2022 08:55

@Dillydollydingdong

It's standard. Why would you not take the house off the market if they're offering you what you've asked for?

Some houses our way are going for 50-60k above asking so if the first offer was accepted you might totally mug yourself out of loads of extra cash for your onwards sale. Just depends on the area and market as to whether you accept the first offer at asking.

LessTime · 15/01/2022 09:24

Sounds like a good plan OP.
Do you know there current living situation? Are they in rented accommodation? If so do you know how long they have on their lease? Have they school kids they want to move during the Easter holidays or summer holidays? Or are they genuinely after a super fast move? If so does that suit you?

Original poster

Housely · 15/01/2022 09:39

Thanks again for replies. I’m so glad I asked because there’ve been lots of points raised that would never have occurred to me.

They are in rented, yes, and they want to be in by the Easter holidays. I guess I could’ve held out to see if any other offers were forthcoming but, since I am unfortunately turning into my mother, the phrase “a bird in the bush is worth 2 in the hand” kept going through my mind!

OP posts:

Branleuse · 15/01/2022 09:43

A bird in the bush saves nine OP.
You can burn that bridge when you come to it!

dafey · 15/01/2022 09:45

Take it asap

dafey · 15/01/2022 09:46

What else are you hoping for?

more money I assume which is a risk

dafey · 15/01/2022 09:47

Tell them you'll take it off the market if they put down a non-refundable £5k 'in earnest' deposit. They might seem very nice but could walk away and leave you having to start again.

This is why I hate moving

Incognito22333 · 15/01/2022 09:49

Personally I would ask for actual proof of funds to your estate agent and confirmation in writing that there is no chain. I would also explain that you have to honour second viewings but that it will be off market after that subject to proof of funds/no chain.

dafey · 15/01/2022 09:51

Not being in a chain is worth a lot imo

Kizziebel · 15/01/2022 11:11

@BluebellsGreenbells

If they accepted your offer, you could still have found somewhere else and made another offer. Makes no difference here.

Who actually continues going on viewings when they find a house they like and have an offer accepted?

headintheproverbial · 15/01/2022 11:14

I wouldn't accept til you've had other viewings. If they are this keen others are likely to be too and you may well get a better offer.

GloriaSicTransitMundi · 15/01/2022 14:51

BluebellsGreenbells

If they accepted your offer, you could still have found somewhere else and made another offer. Makes no difference here.

@Kizziebel
Who actually continues going on viewings when they find a house they like and have an offer accepted?

A cautious person - the seller can back out at any time before exchange if a better offer comes along, breakdown in onward chain, or any other reason they wish.

Starseeking · 15/01/2022 21:14

@Kizziebel I'm 6 months into my house purchase, and gave probably seen 5 or 6 other houses during that time. The way property buying is set up in England, you'd be an idiot not to keep your eyes out, and keep looking, as so many transactions fall through before completion.

Remember that NOTHING is guaranteed until completion (while it's very rare, sales sometimes don't complete after exchange).

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