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Accept lower chain free offer or asking price but house not yet had an offer?

28 replies

Pitstop1986 · 10/08/2023 18:23

I suppose that there's worse situations to be in, but I'm after a little advice on what everyone would do...

I've had quite a few viewings on my house recently. It's on the market for 259,950.

I had 3 offers, one for 240 and two for 250, one from someone who hadn't yet put their house on the market and another which was from a chain free buyer (had previously rented) with a mortgage in place.i accepted this offer at the end of last week.

I have since had an offer of full asking price from the couple who hadn't yet put their house on the market. Their house is now on the market and they have an open house on Monday. Obviously they're in a chain

Would you carry on with the offer of 250,000 knowing that they were not in a chain and the sale was free to go straight ahead, or would you consider taking the extra £9,950 knowing that there will be a few hold ups along the way?

It's a lot of money, but with the market being unstable, there's a few risks and delays with the higher offer.

OP posts:
BlueMongoose · 12/08/2023 09:35

If I'd accepted an offer, I wouldn't go back on that unless the buyer mucked me about. That extra 10K might not have happened anyway, if the higher-offer buyers found they had to sell their own for less.

LittleAlexHornn · 12/08/2023 10:51

The last house i sold, this year, was guide price £280k.

I had two offers, one of asking price from a buyer that was in a chain, he nit picked on his 2nd viewing though.

2nd offer was £255k from chain free FTB who LOVED the house, that was their max budget.

I chose the FTB and it went through in 8 weeks!

For me, a relatively guaranteed £255k vs £280k being unsure if he'd mess us around/get stuck in a chain was a no brainer.

XVGN · 12/08/2023 11:25

LittleAlexHornn · 12/08/2023 10:51

The last house i sold, this year, was guide price £280k.

I had two offers, one of asking price from a buyer that was in a chain, he nit picked on his 2nd viewing though.

2nd offer was £255k from chain free FTB who LOVED the house, that was their max budget.

I chose the FTB and it went through in 8 weeks!

For me, a relatively guaranteed £255k vs £280k being unsure if he'd mess us around/get stuck in a chain was a no brainer.

Good on you. We did similar a few years ago. Just being able to move on with your life is priceless.

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