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Original poster

I need a crystal ball - offers, what to do?!

16 replies

Gardengirl108 · 21/03/2023 22:01

Need perspectives/ideas/experiences please. Our property has been on the market almost a week, had a viewing the same day and had an offer over guide price the next day - not yet accepted, from a person in a 3-property chain. One viewing yesterday, another 5 booked in between now and the weekend. Do we wait to see if they yield an offer or take the one on the table? They are continuing to look at properties so there’s a chance they might find something else whilst we mess about. The reason we’re hesitating is that we like a property and have made an offer, which hasn’t been accepted yet - it’s the higher of two offers they’ve had but the lower offer is from someone in rented so no chain and vendor had a sale collapse last year so is EXTREMELY wary of getting involved in a chain. So if we were to secure an offer from someone with nothing to sell, we’d probably secure the property we like. The added complication is a neighbour who has expressed an interest in buying ours (they’ve nothing to sell). But instead of just making an offer, she wants to wait until we’ve considered all/any offers and then tell her what we’d accept from her. She is listed as an interested party on our agreement with our estate agents, so we wouldn’t pay fees if sold to her, although we can reach an agreement with our agents to handle it if we did sell to her, which sounds attractive as I’d want to keep at arm’s length. But this sounds a bit odd to me, shouldn’t she just put her offer through the agents? I feel like it’s got very complicated very quickly and losing my perspective here. Thanks

OP posts:
Allicando · 22/03/2023 06:08

Hi OP, sounds very positive having more viewings - I would be inclined to wait and see if anybody in a better position puts forward an offer, chains can be a nightmare especially in these uncertain times I would rather a lower offer from somebody without a chain. I had similar with a neighbour just recently as they had put a message on the neighbourhood WA group (they are in rented) but she was non committal saying she was very interested but going further so I have put it on the market. I also would not like to deal direct with somebody (she was especially pushy).

What is the feedback from the agent of the one you like? Is the vendor willing to hold fire on a decision until you have had your viewings?

TrianglePlayer · 22/03/2023 06:11

I would also wait until those viewings have taken place. It sounds like your property is priced right if you’ve had an over-guide offer already and with other viewings booked I’d let them go ahead before you make a decision. Long chains are not great as so many ways it can all go wrong.

CellophaneFlower · 22/03/2023 07:00

I would wait till after the other viewings. There's nothing to say the current interested party won't continue to look and pull out even if you accept their offer.

I'm assuming the neighbour knows you won't incur EA fees with them, so will expect you to offer it to them under what the highest/most attractive offer is. That's fair enough, if you can reach an agreement you are both happy with. Dealing direct and not having an EA would be a bonus for me. They don't do much ime, after they've found you a buyer.

Original poster
Gardengirl108 · 22/03/2023 07:38

Allicando · 22/03/2023 06:08

Hi OP, sounds very positive having more viewings - I would be inclined to wait and see if anybody in a better position puts forward an offer, chains can be a nightmare especially in these uncertain times I would rather a lower offer from somebody without a chain. I had similar with a neighbour just recently as they had put a message on the neighbourhood WA group (they are in rented) but she was non committal saying she was very interested but going further so I have put it on the market. I also would not like to deal direct with somebody (she was especially pushy).

What is the feedback from the agent of the one you like? Is the vendor willing to hold fire on a decision until you have had your viewings?

Thanks. Yes the vendor of the one we like seems in no hurry to make a decision on the offers he’s had (ours and the lower one) and also seems to be waiting to see if we can secure an offer on ours from someone with no chain.

OP posts:
Greenfairydust · 22/03/2023 08:29

I would say wait until the weekend and get the viewings done.

But also make sure your EA communicates with the people who put the offer in so they know that more viewings had been booked and will proceed.

I made an offer on a house, heard nothing for days.I chased the agent and I was told the vendors were allowing more viewings that weekend. Fair enough.

But then I heard nothing again the week after. The result was that I decided that it was incredibly disrespectful from the vendors and I made an offer on another house....I was not in a chain so I was in a good position.

The point is, expect the people who made an offer to continue looking at other properties and to offer on something else if you take too long to get back to them and don't communicate.

Your neighbour sounds like a waste of time too. If she wants to buy your house, tell her she has to do it through your EA like everyone else..

CellophaneFlower · 22/03/2023 09:26

Your neighbour sounds like a waste of time too. If she wants to buy your house, tell her she has to do it through your EA like everyone else..

Why? At most she's hoping she'll get a reduced price as OP will also save money. No point in paying an agent thousands if there's no need, better for OP or OP/vendor to keep it.

CellophaneFlower · 22/03/2023 09:26

OP/buyer that should read!

Original poster
Gardengirl108 · 22/03/2023 12:18

UPDATE: the vendor for the place we’ve put an offer in for has gone with the lower offer from a chain free buyer who isn’t going to do a survey 😢 We know another in the same road is potentially coming to market and have been promised we’ll be first in the door for a viewing, so onwards we go! Going to continue with the viewings of ours this week, see what the neighbour can go to and then make a decision.

OP posts:
Allthegoodnamesarechosen · 22/03/2023 12:24

Discount the neighbour. People in this situation always think they are going to get the house for much less than it is on the market for IME.

If she wants to buy your house, tell her to make a proper offer now. However, if you don’t use an agent you will need to find another way to verify the availability and probity of her funds.

WeAreTheHeroes · 22/03/2023 12:24

CellophaneFlower · 22/03/2023 09:26

Your neighbour sounds like a waste of time too. If she wants to buy your house, tell her she has to do it through your EA like everyone else..

Why? At most she's hoping she'll get a reduced price as OP will also save money. No point in paying an agent thousands if there's no need, better for OP or OP/vendor to keep it.

The OP isn't going to save money though if the neighbour wants to offer the top other offer received minus the EA fees!

WeAreTheHeroes · 22/03/2023 12:29

Sit tight OP - your house is clearly an attractive proposition. When your offer on the house you want to buy was rejected, did you say you'd leave your offer on the table? Worth making it clear to the EA that should their client's sale not proceed you would still be interested.

CellophaneFlower · 22/03/2023 12:32

WeAreTheHeroes · 22/03/2023 12:24

The OP isn't going to save money though if the neighbour wants to offer the top other offer received minus the EA fees!

Show quote history

She won't necessarily do this though. She may just want to know what the other offers are first so she can make a fair offer herself based on them. Then it would be up to OP whether it made sense. She's chain free, so she's attractive anyway, regardless of saving the EA fee.

webuiltthiscityonrockandwheat · 22/03/2023 12:43

I wouldn't discount the neighbour. There's nothing to say she isn't interested. Our neighbour showed interest in ours, she said for age how nice it would be and maybe we could buy hers. Then we had potentially two other offers on the table so she called the EA and offered over asking. And then we offered on hers. Who knows what could happen. Neighbour being chain free is a benefit too

Original poster
Gardengirl108 · 22/03/2023 13:08

WeAreTheHeroes · 22/03/2023 12:29

Sit tight OP - your house is clearly an attractive proposition. When your offer on the house you want to buy was rejected, did you say you'd leave your offer on the table? Worth making it clear to the EA that should their client's sale not proceed you would still be interested.

I didn’t leave the offer on the table, but I did make clear to the agent that he should contact us if the sale on that property falls through. I don’t want to be tied to an offer we might have made months ago in a potentially falling market.

OP posts:
Original poster
Gardengirl108 · 25/03/2023 23:44

Final update, thanks for the responses. We had 3 offers all for the same amount in the end and cancelled further viewings. We have taken the offer from our neighbour who doesn’t have anything to sell and now we just need to find a place to buy!

OP posts:
Allicando · 26/03/2023 07:29

Congratulations and how exciting! Good luck with your search.

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