Dear Mumsnetters,
As someone who is a relative novice in property matters, I’m seeking some advice.
In a nutshell, we are selling our property outside London and buying one in London. The budget is tight but just about doable.
Unfortunately, the outside London property is not getting the high offers we expected as the market is down, but a local property developer has come forward willing to pay slightly above the asking price. All other offers are below the asking price. The agent (well reputed locally) says they have done business with the developer before, that he is a cash buyer and we should accept the higher offer. In fact in recent days the agent has put off other buyers who were interested in the property, as they were informed that there is a buyer offering above asking price.
It has now occurred to me (literally, in the shower this morning as I am not savvy on property matters) that the property developer may have offered a higher price to push away other buyers but eventually try to knock the price down once the sale process is underway (using survey and other issues). Presumably, he would be quite skilled at doing this (compared to say, a family who is looking for a place to call home).
Is it unreasonable of me to ask the property agent not to push away any buyers and to continue to show the property to interested people, as would need a pool of potential buyers who we can turn to if negotiations with the developer get tough?
What do you think? Is it a done thing to continue to show a property to viewers while it is under offer? Is there a rule against it? I read somewhere that some buyers insist it should say sold STC once an offer has been made. How much leeway do I, as a seller, have to decide what happens here?