How realistic is it that a seller would accept an offer from me?

[headcheffer]

I've found my dream house. I would never want to move ever again if I could live there!

In order to buy it, one of two things need to happen:

1. Probate completes on an inheritance I am due, and I could buy with a very small mortgage or loan (less than £100k needed). I am expecting cash in my bank by June at the latest.
2. Our current house isn't on the market (we weren't looking to move!), but I could put it on the market and would need to wait for a buyer.

If option 1 was the leading option, I would obviously need put our house on the market and would then be able to claim back the additional stamp duty on owning two homes if it sold in time.

How likely is the owner of my dream house to accept an offer from me, seeing as I'm not exactly immediately "proceedable". The property has been on the market for a few months, with a price reduction at the end of the year. I'd happily offer full asking price. Would an estate agent even let us view if our house isn't on the market?

I really want to book a viewing, but I don't want to break my own heart

i wouldn’t no way

you expect them to take it off the market?

I wouldn't accept an offer if the person making it wasn't in a position to go ahead straightaway.

The lord helps those who help themselves.

The inheritance and existing house mean you know you are ultimately good for the cash

If you truly love it and it's the ONE honestly I would get your house on the market, be chasing the probate and look at bridging loans

If you were a cash buyer, maybe but it's too much of a risk if you need any kind of mortgage/loan. You wouldn't be able to get a mortgage now and anything can happen in the next 6 months. You might not be able to get a mortgage/it might be unaffordable by then.

An EA would maybe let you view if you explained the situation they will also likely treat you more favourably if you list your property which you plan to sell with them.

I've seen buyers and vendors receive highly preferential treatment because the are using the relevant EAs services.

I'm in a similar position and thinking about making an offer subject to sale of my house and probate however I wouldn't expect them to take it off the market until I am sold etc. The house I want has only had 3 viewings since September though and no offers, if it was a more popular property I wouldn't think I had a chance in my position.

Your reactions are why I am thinking of not viewing, I don't want to be cheeky and view their house if they wouldn't consider an offer. They've been on the market for a long time though, and reduced once.

Do you think it's an option to offer, and say my options are 3 fold - my given 2 and then a bridging loan by a certain date if needed?

bridging loans are very very rare in current day

no point suggesting this until you actually have a provisional bridging loan offer

one question

do you expect them to take it off the market?

Probably very unlikely, unless you made it financially worth their while to wait for you.....

straightforward private here just taken 8 months

you need to view for a start Op

i recall getting similarly excited about seeing a listing

and then in reality…. disappointing

oh wait you’re not on the market
only viewings of my place were those at least on the market and commonplace around here

I’m sure you could view and offer but very unlikely they’ll accept until you are actually in a position to proceed. And FYI, the “dream home” concept is bizarre. Don’t get too caught up as you’ll over pay or over look problems.

My house is currently on the market. I wouldnt entertain accepting an offer and taking it off the market unless they have sold. Likewise, we arent bothering to view any until we have sold. It all seems pointless!

There are so many liars and "cash buyers" who aren't really cash buyers... So my policy when buying and selling has always been to be transparent and honest.

I'd go see the EA when it's quiet and they
have time to talk.

Discuss the house and explain your are interested (don't be too gushy) just something like you want a very specific type of property... This fits the bill and so you are interested.
Ask lots of questions... ask about the vendors and what their story is. (Eg if they have 2-3 homes and don't need the sale they might happily wait 6 months to exchange if the price is right... If it's an acrimonious divorce you can prob forget it)

Explain your financing options / situation and ask what the EA thinks... Could the vendor be receptive and could you view?

Go from there...
It can't hurt to ask.

Also people LOVE when you ask their advice and opinions and help. EAs are no different....

Agree with others: you have to view it though.

I remember seeing a house and I KNEW we'd buy it..it was just perfect.... When we viewed I was dumbfounded the house was horrendous we didn't even bother with a low ball offer...

I don't know if I would expect them to take it off the market to be honest? I guess not, that wouldn't be very fair!

I've only ever bought and sold once, and it was during lockdown when nobody accepted viewings unless you'd had an offer on your own house as the market was moving so fast.

all before even viewed??

well in that case

they can just say “sure” and you squirrel away your end and if still available when you have the funds, all good. but be prepared to lose it if they get any offer better than one contingent on so much and no hope of even getting the ball rolling until summer

No harm in asking and getting your house listed. If they’ve not had much interest you never know…

Could you get a loan against the inheritance for a few months? Find out if you can get one in principle and then get the funds close to completion. Or a bridging loan on the new property with your current property as security until it sells. Both are possibly expensive, but maybe worth looking into if you are desperate to buy this house.

Realistically, if you want to be in a position to offer on this house, you need at the very least to have yours on the market. They probably won't take it off the market until you have got a buyer, however.

I wouldn't be taking out a bridging loan at the moment - not while there are a lot of properties not selling or selling but not getting to completion.