Advice needed about accepting an offer

collegeme

We have an offer of full asking 2 days after house went on market. Can we accept but not take off the market and see if we can get more?

We really need as much as possible to allow us to trade up a little.

Also we havent found a house to buy yet....is this an issue? I will not be selling if i dont have a house bought/almost bought as we have a young family.

stereo_steve

You can.

But its an asshole move.

collegeme

stereo_steve wrote: »

You can.

But its an asshole move.

Well i havent a clue of whats the done thing to be honest.

Maybe we went a little low on asking price.

collegeme

Woodville56 wrote: »

Hi collegeme, may not be what you want to hear but if I was ur buyer and offering full asking price, I would be making the offer on the basis of the property being withdrawn from the market immediately, otherwise I'd walk.
Also as a prospective buyer I wouldn't be very interested if the property sale was dependant on the seller being successful in finding / buying their own new home / could take ages to finish sale and most buyers would like some degree of certainty around closing date for transaction once sale agreed.
Sorry not to be more positive but th
at's the way I see it , being on the house hunting trail myself !

i understand thanks. I see why its a stresful thing
With 3 small kids we cant allow ourselves to be withput a home either. Its a tricky situation

peter_dublin

At the end of the day you need to put your family first and obviously if you got offered full asking in two days you may have undervalued it. You owe any potential buyer nothing, as many on here will remind you when it suits, its a business transaction, from other threads in here there are many whom are waiting quite a long time to complete contracts such as buying properties in negative equity which require the banks consent.

There is plenty of threads on here about houses selling for more than the asking price so of course you can hold out of more if you wish once your happy to risk loosing any buyer at asking. I'd love to know how these houses that sell for over asking sell if so many place such definite "its off the market or else" offers.

Your main issue is the need to find a property first, I have the option to take a negative equity mortgage but it comes with the condition I must have a property first that I wish to buy much like your position. I know the price I could sell my property tomorrow at within 24 hours based on having some vendors given an look over it off the market by the estate agent first as we are in a area of high demand and as such have based my figures on this but would get 10% on the market based on selling prices since then.

Really you should have found a property first, then put your own on the market as you now know your value for it assuming it was priced keenly or in an area of demand and you can always either remove it from the market, accept the offer but leave it up to see if higher comes in while trying to find a place to buy or accept the offer on condition they wait until you find a place but then you run the risk they can pull out at any stage anyway so thats of no use to you anyway.

handlemaster

Take the offer I would. Its what you asked for. It will take a month or two to go through. Continue to look for place right buy with a view to renting also. Would be very lucky to sell and buy at same time

Bigcheeze

If it's only on 2 days I think it's reasonable to wait another week or so, particularly if you have viewings scheduled. You can say the offer is acceptable (not accepted) but you're leaving it on the market for another 2 weeks as there are other viewings scheduled..

Most viewings happens in the first couple of weeks. If you're using an EA he won't continue to show the property if the offer is accepted.

handlemaster

Bigcheeze wrote: »

If it's only on 2 days I think it's reasonable to wait another week or so, particularly if you have viewings scheduled. You can say the offer is acceptable (not accepted) but you're leaving it on the market for another 2 weeks as there are other viewings scheduled..

Most viewings happens in the first couple of weeks. If you're using an EA he won't continue to show the property if the offer is accepted.

Could be the best offer. Will the people who offered hang around thats the question

Matteroffact

collegeme wrote: »

We have an offer of full asking 2 days after house went on market. Can we accept but not take off the market and see if we can get more?

We really need as much as possible to allow us to trade up a little.

Also we havent found a house to buy yet....is this an issue? I will not be selling if i dont have a house bought/almost bought as we have a young family.

If you accept this offer then you have to take it off the market, otherwise it means you are not accepting the offer but considering it.

Devi

What did you base your asking price on? How does your asking line up with similar properties in the property register? if its around the same, take it. If its much lower then wait a while before accepting.