Found our dream home! Help

[Labmum321]

Our house has been on the market for 9 weeks. We put it on for £10k more than we actually want for it in the hopes that someone knocks us down to what we want. It’s had 5 viewers but no offers. Feedback has been really positive. We’ve been in no rush to sell because the market is slow and so next to no houses have come on the market that have been right for us just yet. We even said if there’s no offers by the end of November we will just take it down as it’s becoming a pain now. We said at the start if the right house came along we would reduce ours for a quick sale.

Fast forward to now. The PERFECT house came along yesterday. We viewed last night. It ticks every box we had and the asking price is the top end of our budget, in the perfect location for us as it’s on the estate most of my family live. Its had 3 viewings so far and its only been on the market 1 day so I know its bound to get snapped up.

Ideally, we’d offer full asking price and would love the vendors to accept this offer, take it off the market and give us x amount of weeks to sell. At the viewing, they told us they were in a similar boat to us, they saw a house that had just come on the market, they viewed it and loved it, they put their house on the market that same day, their offer was accepted before their house was on the market and now they just need a buyer and said they don’t think it’s be on for long.

Realistically, one of the other viewers could be proceedable and it’s taken off the market this morning so we don’t want to reduce ours asap if that house is gone!

The viewings were all last night after the office closed so we won’t know what’s happening until this morning.

What would you do? I know if it was me I’d just go with whoever is the most proceedable and I wouldn’t blame them for doing that.

Should I ring up and offer full asking price straight away and tell them how serious we are and how much we love it etc? Or would it be pointless? Or not jump the gun with figures yet because these other viewers may not be proceedable either?

Your posts have been removed for some reason @RaiseitM

Been on for one day and two proceed able offers on day 1?

You need to basically tell your DH that there’s no chance

you don’t want to raise the selling price. Why? because you love this style of house and location…. so all you’ll do is increase neighbouring properties coming up for sale that you’d also be interested in

Are you basing this on RightMove? You don’t know they’re under offer at these prices, only that they were advertised at these prices. When RM adverts go SSTC they don’t change to the offer price.

I’m guessing property has gone?

Any interest in yours since the drop?

We put ours on at the price recommended, but didn’t have any success. Reducing slightly to the next bracket resulted in several offers and the people who bought it, saw it the day it went live.

So, all 3 viewers (including us) had to put forward their best and final offer & explain positions, LTV, send ID etc. The deadline for this is tomorrow, no time mentioned. We originally sent through £321,500 yesterday within an hour of them asking. We called their EA before close of play yesterday to chase it up & see if everyone else had submitted. One had, they were waiting on one more. Today we called and they’re still waiting for that one more. Today we revised our best and final offer to £325,000, £5k over asking because we really do want this house, though I still don’t think it will be enough as surely they’ll just want someone ready to go.

Our house price was dropped yesterday and radio silence since so I don’t have high hopes at all that it will sell quickly, even with the drop.

but what about the other offers? Are they still on the market with no offers on the table?

it’s not just the offer. Often the position of the buyer is a consideration

Have you even spoken with a mortgage broker?!

I’m not sure what their exact positions are but the vendors EA said they were both proceed-able

meaning they at the very least they had accepted an offer

Yep. I’m basically waiting for a Christmas miracle.

Fingers crossed for you here.

Do you even have viewings booked in for your property now?

The problem with offering on another property when you aren’t under offer is that it’s all rather meaningless.

You don’t have a buyer lined up. A potential buyer may offer you less than you want so you then can’t afford the new property etc etc.

Realistically unless you get a buyer this weekend or early next week I can’t see how this would work for the vendor. I don’t mean to sound negative but you aren’t in a position to proceed with the purchase.

Regarding selling your house, you
might need to stop thinking it terms of what similar houses were advertised for. Instead think in terms of how much you need to achieve to get the house you want.

Good luck, but sorry there’s no way I’d ever accept an offer from someone who wasn’t proceedable. I hope you get an offer on your house soon. Have you had any interest? Viewings lined up?

Good luck.

My son's chain is taking a while to pull.together as the top haven't found anywhere yet. But no one in the current chain started looking properly until they'd sold so this process is bound to be stretched out a bit.

It can happen. Don’t lose hope.
We found our dream home last year. We viewed it and out an offer in that day, our house wasn’t even on the market.
There was another offer on the table, but she chose ours. We went with the same estate agent, to give them some extra investment in the sale/purchase, and ours was sold two weeks later.
We’ve now lived in our dream house for just over a year. Don’t give up hope.

Update

Vendors EA called, all 3 bids are now in and they’ve been sent to the vendor. The vendor said they want to take a couple of days to think about it as there’s a lot to think about. Argh! More days of torture. DH asked if our offer was reasonable compared to the other 2 and she said it was VERY reasonable. So seems like they’re happy with the offer. EA asked if we’d had any interest since dropping the price and he said not yet. She asked us to push our own EA to contact previous viewers to let them know about the reduction (we asked them to do this on Wednesday). DH said if our offer is accepted we’ll get it up with another agent if necessary.

DH then called our estate agent to see if there’s been any interest and how the calling around went. They said they didn’t call any previous viewers as their reasons for not wanting the property weren’t price related. Bit annoyed at this as sometimes price reductions can help you overlook what put you off in the first place! Apparently they’re going to ring now but one of the viewers has had an offer accepted elsewhere.

I feel like they’re trying to buy us a bit of time to get a buyer. It’s unlikely we’re going to sell anytime soon though when we can’t even get a viewer now. DH asked why they think it’s not had any interest since the reduction and they said it’s the same across the board at the moment in our area.

@Labmum321 could you ask to put on an open day, with your new price, to try and boost some interest in your property?

I would tell the agent that you are 100% interested and can offer, but need to sell your own - drop yours to £199,000 and see how it goes- you need to sell anyway and clearly at the moment it's not a tempting enough proposition -