elaine&graham

we have received an offer on the house, at just under the asking price, we have accepted it. The person making the offer have their house on the market at the moment.
Do we put up a sold sign or do we leave the house on the market in case someone comes along with cash, and would it be legal to do that?
We would be grateful for any advice, please help!!!

Elaine xxx
aka Pink Pom

joho

I would leave it up for sale, in the current market it could take them months to sell theirs and you could miss out on a buyer who is ready. Personnaly I dont think people should make an offer until they are in a position to proceed its so annoying.

Jo

phoenixinoz

What do you want to do?

What happens if they don't sell their house for say, 6 or 12 months? Can they still afford to buy yours? Cos if not, then potentially you're house sale is on hold until then. And the other thing is...technically their offer is worth nothing if the cash or sale doesn't materialise.

The other thing is, if they don't sell theirs and subsequently don't buy yours for say 6 -12 months, they still get to buy yours at the price yours was woth 6 - 12 months previous.

Basically whilst ever you have a sold sign on your house, it's technically going to be seen as off the market.

Also, bear in mind if theirs doesn't sell quick .....and then you decide to put yours back on the market, other people may think the buyers have pulled out after all this time and might think something is wrong with yours.

On a more positive note their house might sell next week so you have no worries. But nothing stopping them from putting a more serious offer then though

Anyways, just a few thoughts, but at the end of the day the call is yours.....

Good luck.....


PS. I happen to agree with joho

elaine&graham

Thanks for that, we agree. The house has only been on the market for two weeks, and they were the first to view, so we got a little excited, I suppose.

Is it legal to do this, dont want to end up a real POM.

LOve Elaine xxx

phoenixinoz

Yes it is legal. All they have done is offered you a price for your house. The thing to remember is their offer is not binding [unless you draw up a contract with a clause tie-ing them into it]. Technically they can pull out, even months into it..

The other thing, if your house has been potentially sold in two weeks, then it's obvioously very saleable...so it might be worth you hanging on as someone else might be round the corner and you might get more too!

joho

Its not illegal to do this and they don't need to know if you are having more viewings anyway.

Jo

NickyP

Hi there when we have sold in the past then the only way that we have treated the sale as final has been when the other person has sold and there is a completed chain, even then sales have fallen apart at the last minute. If the person making the offer hasn't sold then the best you can do is say OK we will prvisionally accept your offer but until you are in a completed chain then we will have to continue marketing the property. It is harsh but if you were looking to buy then noone would hold onto their house for you until you were able to proceed. The fact is that they may sell their house within a couple of days or not sell at all so you cannot treat their offer as anything more than an offer until they have got a sale proceeding on their property.
Good luck and fingers crossed that this is the start of your house being sold. Your agents should advise you to carry on and see how things pan out.
Nicky

sparks124

i would certainly keep it on the market, not only could they have problems selling there part of the chain could fall apart once they have sold setting you back months. i would keep it on the market, after all the offer is as good as the paper it's written on.
may be worth explaining this to the people that you have had the offer from as it may give them incentive to get there finger out.
however a lot depends on your time line and how fast you need to sell.
all the best Keith.

elaine&graham

Thanks everyone,for your advice. I will call the dreaded estate agent tomorrow and discuss it with him. Trying not to get too excited as I have realise it may all come to nothing.
Have sent you Karma.
Elaine xxx

NickyP

Keep us posted on how it goes. Fingers crossed!
Nicky

elaine&graham

Thanks Nicky, will do. I think we will need lots of luck and wine to get through this.

Elaine xxx

possoms

Hiya Pinky congrats on the offer hope it works out

elaine&graham

Hi Possums

How are things going with you? Hubby is going to Oz on the 12th November to validate, I am still ummimg and ahhing about going too, and stopping there. He isnt too keen on me going though, cant think why, think he will miss my nagging. Hope to see you at the meet.

Elaine xxx

possoms

OOO get yerself out there with him err what meet? do you mean the manchester one? if so we cant make it I'm afraid, Colin will be away

P

psb182

the agent is going to tell you to put a SOLD sign up.......they do that all the time it looks good to them.........don't do it until you have a concrete deal.....tell the agent to keep showing it as you may get a cash buyer with no chain......if the people that put the offer in want you to not show it and take it off the mkt then tell them to put down a NON refundable deposit to show that they are committed to buy your house at a specific price