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Should we move or not?

4 replies

Mychickchick · 08/09/2023 16:56

Our house went under offer in May to a cash buyer. We are porting our low rate mortgage which still has a number of years on, and making up the rest of our purchase with cash. We have seen three houses we really like (1) elderly lady, who changed her mind and pulled out (2) couple who overpriced and we offered what our EA who is selling ours valued it at and (3) we’ve made an offer 10% under asking a week ago and the vendors want to ‘leave it on the table’ until they get a better one.

we’ve kept our buyer in the loop and they’re happy to wait but is the market just say such a standoff that are we better off waiting? We thought we would just keep going until our buyer has had enough, which I don’t think will eve long now.

all feels impossible! What should we do?

OP posts:
bilbodog · 08/09/2023 17:00

If any of the houses you have already offered on tick all your boxes i woukd offer a bit more to seal the deal otherwise you could be waiting for ever …

rainingsnoring · 08/09/2023 17:48

How much do you want to move? You obviously don't need to move.
What are the pros and cons of moving?
Would you consider selling and renting until you find something you like at a sensible price? Lots of very unrealistic pricing by sellers and agents at present.

Twiglets1 · 08/09/2023 17:54

2 or 3 may yet come back to you. I would keep viewing any new properties in the meantime and cross everything that you find a property to proceed on shortly!

Twiglets1 · 08/09/2023 17:57

Also feel that 10% under asking doesn't always get you the property @Mychickchick

It's a good starting point but if they don't come back to you within a fortnight and if you like the house and can afford a bit more, I would consider offering a bit more to hopefully secure the deal. Some houses are selling for 10% under but by no means all of them. It would have been helpful if the EA had asked them to give you a counter offer.

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