Would you accept an offer from someone who hasn’t yet sold?

[LavenderLxx]

Just a quick question as I’ve got no one at home to discuss this with at the moment!

My brother and I are selling my late Fathers house. It’s on the market for £800,000.

We accepted an offer of £760k a few weeks ago but then they pulled buyers pulled out.

We have just had a new offer of £750k but the buyers haven’t yet sold their house. It’s on the market and they’re willing to drop their price.

What would you do? Wait until they’ve sold?

Keep it on the market. There’s no point in accepting their offer at present. They can come back to you, if the property is still for sale, when they’ve sold.

No. Continue with viewings.

Thank you. That was my thought too

I would say you will continue to allow viewings but if they sell before someone offers higher, then you accept.

We were the hopeful buyers in this situation once. The vendors acknowledged our offer and said they will be delighted to accept the moment we were in receipt of an offer on our house, but would keep theirs on the market in the meantime. It was another 4 months before we got an offer, by which time he had sold to someone else.

Yes I’d do this.

Thank them for the offer, and say you will seriously consider it if they come back to you once they are sold. Then continue other viewings for now.

Exactly this.

No point accepting because you may get a better offer tomorrow from a proceedable buyer. If so, you accept that. If not, these people will come back to you anyway once they’re under offer. So nothing to lose.

I would accept the offer provisionally but say you will not take it off the market until they sell.

We accepted an offer but gave them three months to sell (this was November). We put it back on the market in February and sold in March.

Keep it on the market but thank them for their offer.

I would tell them that you'll consider it once they become in a position to actually buy your house. I wouldn't accept an offer from someone who is not proceedable. Keep on with the viewings.

if they are serious they should put theirs on the market with the same agent as you. That can help to keep everyone focused. Maybe get your agent to suggest it

Good idea.