FTB close to exchange but offered on another house

[iwasgonnasay]

We’re FTB close to exchange but a much better house in a preferable location opened up (more than ours by 25k)
We posted a letter through their door because their agent is our agent already and asked if they would accept the lower amount, of what we already have a solid mortgage offer for.

Anyone had an offer accepted when approaching directly?

Don't be silly. Of course people will sell to them if they've got the money

But they don’t have the money

They need a mortgage and mortgages take time and trust

Yes people will say they will sell to them but while op is organising the mortgage if another buyer comes along they won’t wait to be potentially dropped.

I have met my fair share of FTB’s and I won’t hold my breath that they are going to proceed and will keep the place on the market. Had fingers burned with these people.

I have moved around quite a bit and I despair at FTB’s
I have experienced FTB’s who have been banned from all the estate agents in several towns because of their unrealistic bids on properties much more expensive than mine

FTB’s who don’t understand that whilst they have a good budget for a 1/2 bed terrace it isn’t going to get them their forever home especially when their forever home is an 11 bed mansion set in 5 acres of land at the very edge of a London postcode

Then there is the survey report which to cover the surveyor’s back says things like might have or maybe followed by a reason why they couldn’t check every single square inch of the property.
No one actually reads the words. They get scared and start demanding huge discounts for all these non existent issues

Or where FTB’s say they are cash buyers and then view and bid on unmortgageable properties which state Cash Buyers Only on the estate agent’s sales particulars.
Then expect for everyone to wait around whilst they apply for a 90% mortgage on the property. (It says cash buyers only for a reason)
Add on how rude some of these people are, their dithering and expecting that the sellers will wait around for them because they are FTB’s who have the power to waste time and destroy peoples lives in the chain.

My pet peeve though is those that only view to voice their discontent that they can’t afford to buy in the neighbourhood they grew up in.

Probably don’t say that to someone who moved hundreds of miles away from their hometown to a cheaper area in order to buy a tiny studio flat.

Yes.. I remember some ftb offered £100,000 below asking price. It was a house in London but .. I was embarrassed for them really. As was the agent.

I've sold to FTBs twice and one was fine - one was a builder and totally unfussed by the survey. The second time they approached it as a renters' inventory and queried every tiny issue, and the sale was almost wrecked. Charitably it's a massive commitment they're making for the first time and they want as little risk as possible in general, and are used to being able to ask for things to be 'perfect' in a rental, but it was very painful. I'm quite grateful that my current house is very unlikely indeed to be anyone's first time purchase.

I think the fact you don't recognise it as shitty behaviour means you've phrased it incorrectly in your letter. There's no way as a seller I'd get involved with someone happy to collapse a chain just before exchange, I'd see it as far to risky.

I've accepted an offer directly in the past, but I knew the purchaser and why they came to me rather than via the estate agent. Money is only part of an offer, due diligence is the other part, and without the agent onboard you are going to struggle.

If you found better property you should go for it. There is no excuse for sale to take 4 months in a first place. And perhaps you are overpaying anyway, if better place showed up for the same money.

The whole messing about sentiment is ridiculous. You aren't buying fish & chips a local corner shops.For people in chains most times it is just a house swap, but as ftb you're more sensitive to price and good deal, and perhaps giving up all your lifetime savings. If you are not head over heals for the place you offered and better one came on just go for it.

4 months is good going at the moment!

All those people you mentioned are in the chain for selfish reasons too. Clearly they have enough money if they are going around buying a house, and they choose to be in a chain! More and more people sell and move to rental before they find instead of joining monstrous chains with no end.

Chains situation has nothing to do with personal needs of the buyer, and that's that.

Imagine paying half a million for the house you don't want anymore just to prove estate agent you are trustworthy lol lol lol

Or to avoid upsetting complete strangers. I'm totally soft hearted 99% of the time but that would be plain silly.

I think those "immoral" preachers are notorious house movers who are in chains every 5 years. I swear when I read some stories here how often people want to change houses, I wonder do they have any other hobbies in life apart from house buying & selling.

I'd be surprised if they accepted your proposal. They must know they're likely to get asking price for it.