WWYD: Take the offer or wait it out?

[thedancingbee]

Bit of background, please bear with me! We tried to sell our family home in 2016 then 2018 - couple of viewers, lowball offers but no real interest.
We have decided to try again and it went live on rightmove this afternoon - 10 mins later the estate agent calls to say we have our first viewers tonight!
Viewing went well and they asked what I would accept, I was caught off guard and said home report, they proceeded to verbally offer home report and asked us to consider taking the house of the market for them.

Now in a bit of a predicament, I know it’s my fault for saying home report value but do we take their offer or wait it out a couple of days to see what other interest it gets?

I’m just worried we decline their offer and then get no other interest, that would be just my luck!

We’re selling in Scotland and at the moment the estate agent was saying houses are going for 10% over the home report value.

Thanks in advance

I’m not in Scotland so unsure exactly how it works there however when I was selling I had a minimum in my head I wanted and if we got an offer of that I was happy to accept !
But I’d want to know if they are proceedable etc - if they have a mortgage secured ? Do they need to sell or ftb ?
if they are not proceedable I’d wait a bit and see if any more interest - if they are good to go and the amount Is what you would have had a your minimum then I’d probably accept.
its tricky though as houses in my area are not going above asking to flying off the shelves so if your area is hot right now maybe it’s worth asking your agent if they think realistically how much more you could get.
overall im try to think of you are happy with the amount and you turn it down and no other interest will you be gutted and regretting?

You weren't able to sell in 2016 or 2018 and now have an offer.

What's the issue?!

I would not be happy with being put on the spot like that and would insist everything was done via the EA. Wait until their offer is formal and their finances have been checked then see how you feel.

Where in Scotland are you? Is that 10% over based on their most recent sales? I do think it's dropping a bit, my area is very popular, and some things still going to closing, but it's dropped from about 20% over to 10-15% over HR in recent months.

I think you'll know by the end of today what sort of interest you'll have, all the serious buyers will have seen the listing already so will have called yesterday, or will do early doors today.

Echo what @Thebigpeanut has said - where about are you in Scotland?

We offered 8% over to get our house off the market a year ago. Today, we wouldn’t have as much spare cash to offer that much over given where the mortgage rate would be.

there’s been quite a change in the number of properties going to closing and the number now coming up at fixed price/reduced.

it’s quite a house/location specific question though, feel free to pm link to house.

oh - we did lose out on another house last year. The difference between our offer and the one that won was about 2k. Except we were sold, could move at sellers pace etc, I think they ended up having issues with the buyer they chose.

Thanks everyone. I spoke with my EA and they advised not to take their offer, just wait and see as they have another 5 viewers lined up.
It’s not even been on for 24 hours, I’m really gobsmacked at the interest as like I said we hardly saw anyone through the doors the last 2 times.

We’re on the west coast, small seaside town!