House sale probs already what would you do?
Jan 24th 2006, 7:03 pm
#16
Going for a ride
Joined: Sep 2005
Location: Monbulk, Victoria.
Posts: 2,838
Re: House sale probs already what would you do?
Originally Posted by kris maynard
Thats the thing the agent seriously believes they are not trying it on they are gutted they just cant get the mortgage offer higher than £240 grand I think we will see what tomorrow brings!!
Cheers
Kris xx
Cheers
Kris xx
You never know, but it does sound as if they are trying it on a bit. I would also be apprehensive about letting the buyers go, but you could always try a little bit of trickery to see if they have the extra 5G
Jan 24th 2006, 7:44 pm
#17
BE Forum Addict
Joined: Nov 2004
Posts: 2,584
Re: House sale probs already what would you do?
Take the money. A bird in the hand is worth two in the bush!
You don't want to end up like some other poor emigrees who haven't sold and are in limbo for a year. You also don't want to get to the stage where you have to make a special trip to validate your visa and return to the UK.
You don't want to end up like some other poor emigrees who haven't sold and are in limbo for a year. You also don't want to get to the stage where you have to make a special trip to validate your visa and return to the UK.
Jan 24th 2006, 7:58 pm
#18
Live it not dream it!!
Joined: May 2004
Location: On the sunshine coast
Posts: 329
Re: House sale probs already what would you do?
Originally Posted by kris maynard
Well thought it was to good to be true! Put house on the market sell within days 5 grand under asking price the buyers were in such a good position they had sold and were moving in with parents really loved our house and were willing to wait until June to complete .
This was great for us as it ment no chain and could plan everything to an exact date quite early on once we exchanged contracts!!
Today agent rings they can only get mortgage for 240 grand not the 245 agreed apparently they are not trying it on and are gutted they have tried to work out other ways of raising money but cant!!
Agent has lined up more viewings and dosnt think we willl have problems getting another buyer, Rob wanted to just drop to 240 simply because its convenient part of me does to but at the end of the day we are giving away 10 grand the agent also reckons if the house goes for 240 its far too cheap!
so do we go with the easy 240 or maybe run the risk of getting stuck in long chain that could potentially break down I know there are not any certaintys with either option but WHAT WOULD YOU DO??
Please give your opinions!!
Cheers
Kris xx
This was great for us as it ment no chain and could plan everything to an exact date quite early on once we exchanged contracts!!
Today agent rings they can only get mortgage for 240 grand not the 245 agreed apparently they are not trying it on and are gutted they have tried to work out other ways of raising money but cant!!
Agent has lined up more viewings and dosnt think we willl have problems getting another buyer, Rob wanted to just drop to 240 simply because its convenient part of me does to but at the end of the day we are giving away 10 grand the agent also reckons if the house goes for 240 its far too cheap!
so do we go with the easy 240 or maybe run the risk of getting stuck in long chain that could potentially break down I know there are not any certaintys with either option but WHAT WOULD YOU DO??
Please give your opinions!!
Cheers
Kris xx
Good luck
Jan 24th 2006, 9:00 pm
#19
Drifting back to earth
Joined: May 2005
Posts: 780
Re: House sale probs already what would you do?
Originally Posted by kris maynard
Well thought it was to good to be true! Put house on the market sell within days 5 grand under asking price the buyers were in such a good position they had sold and were moving in with parents really loved our house and were willing to wait until June to complete .
This was great for us as it ment no chain and could plan everything to an exact date quite early on once we exchanged contracts!!
Today agent rings they can only get mortgage for 240 grand not the 245 agreed apparently they are not trying it on and are gutted they have tried to work out other ways of raising money but cant!!
Agent has lined up more viewings and dosnt think we willl have problems getting another buyer, Rob wanted to just drop to 240 simply because its convenient part of me does to but at the end of the day we are giving away 10 grand the agent also reckons if the house goes for 240 its far too cheap!
so do we go with the easy 240 or maybe run the risk of getting stuck in long chain that could potentially break down I know there are not any certaintys with either option but WHAT WOULD YOU DO??
Please give your opinions!!
Cheers
Kris xx
This was great for us as it ment no chain and could plan everything to an exact date quite early on once we exchanged contracts!!
Today agent rings they can only get mortgage for 240 grand not the 245 agreed apparently they are not trying it on and are gutted they have tried to work out other ways of raising money but cant!!
Agent has lined up more viewings and dosnt think we willl have problems getting another buyer, Rob wanted to just drop to 240 simply because its convenient part of me does to but at the end of the day we are giving away 10 grand the agent also reckons if the house goes for 240 its far too cheap!
so do we go with the easy 240 or maybe run the risk of getting stuck in long chain that could potentially break down I know there are not any certaintys with either option but WHAT WOULD YOU DO??
Please give your opinions!!
Cheers
Kris xx
We sold 5k under what ours was worth and have put the money in a high interest account, if you do the same with your equity you'll have softened the shortfall by june,
Good Luck
Dave
Jan 25th 2006, 12:29 am
#20
Go the BNE Roar
Joined: May 2003
Location: Northside
Posts: 1,590
Re: House sale probs already what would you do?
Hi Kris
I would be very tempted to just take the offer 5k below that is on the table.
Compare it to the possible stress of a long chain that can fall over at the last moment and is totally out of your control.
Looks like you are planning to go in June and I dont know what the current time scale is for moving through to completion from offer (I know mine took about 1.5 - 2 months and that involved no chain) so time has to be a consideration also.
Good luck which ever option you choose.
TT
I would be very tempted to just take the offer 5k below that is on the table.
Compare it to the possible stress of a long chain that can fall over at the last moment and is totally out of your control.
Looks like you are planning to go in June and I dont know what the current time scale is for moving through to completion from offer (I know mine took about 1.5 - 2 months and that involved no chain) so time has to be a consideration also.
Good luck which ever option you choose.
TT
Jan 25th 2006, 6:18 am
#21
Drifting back to earth
Joined: May 2005
Posts: 780
Re: House sale probs already what would you do?
Originally Posted by wavy_davy
Take it Kris,
We sold 5k under what ours was worth and have put the money in a high interest account, if you do the same with your equity you'll have softened the shortfall by june,
Good Luck
Dave
We sold 5k under what ours was worth and have put the money in a high interest account, if you do the same with your equity you'll have softened the shortfall by june,
Good Luck
Dave
Jan 25th 2006, 8:07 am
#22
Happy Member
Thread Starter
Joined: Feb 2005
Location: On a rollercoaster
Posts: 1,913
Re: House sale probs already what would you do?
Originally Posted by wavy_davy
It's the other half of Wavy_Davy here! It's only January now and June is 5 months away. I agree that you should take the money because good buyers are hard to find but if they are living with their parents for the next 5 months they should be able to save something. Why not try to negotiate on how much they can save between now and June and fix that amount. They can top up their mortgage amount with the cash. We are living with my parents at the moment because we sold to first time buyers much quicker than we had planned and we are saving £££££ even after paying them a good amount of rent. I reckon even if they are on lowish salaries they could save £1,000 over 5 months. Worth a try isn't it? Katy xx
Thanks Katy and everyone else!!
youve given us some good ideas to think about!!!
Cheers
Kris xx
Jan 25th 2006, 8:15 am
#23
BE Enthusiast
Joined: Sep 2005
Location: Perth WA
Posts: 936
Re: House sale probs already what would you do?
tough decision, we were offered £10000 below asking price, turned it down, nil since, now kicking self!
be lucky
dom
be lucky
dom
Jan 25th 2006, 8:22 am
#24
Joined: May 2005
Posts: 1,511
Re: House sale probs already what would you do?
Originally Posted by don544
tough decision, we were offered £10000 below asking price, turned it down, nil since, now kicking self!
be lucky
dom
be lucky
dom
yes, this is making me think too!!!
we turned down 14k under asking price last week!!!
been on market 3 months....................
good luck kris will be thinking of you this week!
mand
Jan 25th 2006, 8:49 am
#25
bradford 2 brissy at last
Joined: Nov 2004
Posts: 575
Re: House sale probs already what would you do?
we have had exactly the same problem our buyer has put in an offer £10K below also, we tried to push it up but he couldnt go any higher, we have decided to simply take the money the run so to speak, as there is a lot of equity in the house anyway and the mortgage is only small therefore for the sake of £10K i would much rather go earlier at a slight loss than play the waiting game until the "right" buyer comes along.
regards
vb2
regards
vb2
Jan 25th 2006, 8:52 am
#26
Forum Regular
Joined: Aug 2004
Posts: 115
Re: House sale probs already what would you do?
offer to split the difference and if that fails accept their offer. %wise it is not a lot, you will have done well to sell so quickly.
Jan 25th 2006, 9:02 am
#27
Joined: Jul 2004
Posts: 12,063
Re: House sale probs already what would you do?
Originally Posted by kris maynard
Well thought it was to good to be true! Put house on the market sell within days 5 grand under asking price the buyers were in such a good position they had sold and were moving in with parents really loved our house and were willing to wait until June to complete .
This was great for us as it ment no chain and could plan everything to an exact date quite early on once we exchanged contracts!!
Today agent rings they can only get mortgage for 240 grand not the 245 agreed apparently they are not trying it on and are gutted they have tried to work out other ways of raising money but cant!!
Agent has lined up more viewings and dosnt think we willl have problems getting another buyer, Rob wanted to just drop to 240 simply because its convenient part of me does to but at the end of the day we are giving away 10 grand the agent also reckons if the house goes for 240 its far too cheap!
so do we go with the easy 240 or maybe run the risk of getting stuck in long chain that could potentially break down I know there are not any certaintys with either option but WHAT WOULD YOU DO??
Please give your opinions!!
Cheers
Kris xx
This was great for us as it ment no chain and could plan everything to an exact date quite early on once we exchanged contracts!!
Today agent rings they can only get mortgage for 240 grand not the 245 agreed apparently they are not trying it on and are gutted they have tried to work out other ways of raising money but cant!!
Agent has lined up more viewings and dosnt think we willl have problems getting another buyer, Rob wanted to just drop to 240 simply because its convenient part of me does to but at the end of the day we are giving away 10 grand the agent also reckons if the house goes for 240 its far too cheap!
so do we go with the easy 240 or maybe run the risk of getting stuck in long chain that could potentially break down I know there are not any certaintys with either option but WHAT WOULD YOU DO??
Please give your opinions!!
Cheers
Kris xx
Could you get them to put a sizable deposit down so they wont back out?
Good luck in whateve you decide
Jan 25th 2006, 9:10 am
#28
Oiiii.. You slaggg!
Joined: Feb 2004
Location: Brisbaneshire
Posts: 5,209
Re: House sale probs already what would you do?
Originally Posted by kris maynard
Well thought it was to good to be true! Put house on the market sell within days 5 grand under asking price the buyers were in such a good position they had sold and were moving in with parents really loved our house and were willing to wait until June to complete .
This was great for us as it ment no chain and could plan everything to an exact date quite early on once we exchanged contracts!!
Today agent rings they can only get mortgage for 240 grand not the 245 agreed apparently they are not trying it on and are gutted they have tried to work out other ways of raising money but cant!!
Agent has lined up more viewings and dosnt think we willl have problems getting another buyer, Rob wanted to just drop to 240 simply because its convenient part of me does to but at the end of the day we are giving away 10 grand the agent also reckons if the house goes for 240 its far too cheap!
so do we go with the easy 240 or maybe run the risk of getting stuck in long chain that could potentially break down I know there are not any certaintys with either option but WHAT WOULD YOU DO??
Please give your opinions!!
Cheers
Kris xx
This was great for us as it ment no chain and could plan everything to an exact date quite early on once we exchanged contracts!!
Today agent rings they can only get mortgage for 240 grand not the 245 agreed apparently they are not trying it on and are gutted they have tried to work out other ways of raising money but cant!!
Agent has lined up more viewings and dosnt think we willl have problems getting another buyer, Rob wanted to just drop to 240 simply because its convenient part of me does to but at the end of the day we are giving away 10 grand the agent also reckons if the house goes for 240 its far too cheap!
so do we go with the easy 240 or maybe run the risk of getting stuck in long chain that could potentially break down I know there are not any certaintys with either option but WHAT WOULD YOU DO??
Please give your opinions!!
Cheers
Kris xx
Jan 25th 2006, 9:29 am
#29
Forum Regular
Joined: Nov 2004
Location: Devon, UK
Posts: 198
Re: House sale probs already what would you do?
3 things to consider.
1. Time is money!
2. A property is only worth what someone is willing to pay for it!
3. A bird in the hand is worth 2 in the bush!
With these 3 things in mind, is £5K worth losing a good buyer over, especially as we are in a buyers market. The BOE will be reviewing bank rates again next week, what if they went up? it could make people stop and think about buying!
After reading some peoples experiences on here and after trying to sell ours for 18 months without success (had 5 buyers who all turned out to be time wasters) I would bite their hand off for £5K less.
Good luck though whatever you decide.
Phil
1. Time is money!
2. A property is only worth what someone is willing to pay for it!
3. A bird in the hand is worth 2 in the bush!
With these 3 things in mind, is £5K worth losing a good buyer over, especially as we are in a buyers market. The BOE will be reviewing bank rates again next week, what if they went up? it could make people stop and think about buying!
After reading some peoples experiences on here and after trying to sell ours for 18 months without success (had 5 buyers who all turned out to be time wasters) I would bite their hand off for £5K less.
Good luck though whatever you decide.
Phil
Jan 25th 2006, 12:29 pm
#30
BE Enthusiast
Joined: May 2005
Location: buderim, sunshine coast
Posts: 417
Re: House sale probs already what would you do?
Originally Posted by kris maynard
Well thought it was to good to be true! Put house on the market sell within days 5 grand under asking price the buyers were in such a good position they had sold and were moving in with parents really loved our house and were willing to wait until June to complete .
This was great for us as it ment no chain and could plan everything to an exact date quite early on once we exchanged contracts!!
Today agent rings they can only get mortgage for 240 grand not the 245 agreed apparently they are not trying it on and are gutted they have tried to work out other ways of raising money but cant!!
Agent has lined up more viewings and dosnt think we willl have problems getting another buyer, Rob wanted to just drop to 240 simply because its convenient part of me does to but at the end of the day we are giving away 10 grand the agent also reckons if the house goes for 240 its far too cheap!
so do we go with the easy 240 or maybe run the risk of getting stuck in long chain that could potentially break down I know there are not any certaintys with either option but WHAT WOULD YOU DO??
Please give your opinions!!
Cheers
Kris xx
This was great for us as it ment no chain and could plan everything to an exact date quite early on once we exchanged contracts!!
Today agent rings they can only get mortgage for 240 grand not the 245 agreed apparently they are not trying it on and are gutted they have tried to work out other ways of raising money but cant!!
Agent has lined up more viewings and dosnt think we willl have problems getting another buyer, Rob wanted to just drop to 240 simply because its convenient part of me does to but at the end of the day we are giving away 10 grand the agent also reckons if the house goes for 240 its far too cheap!
so do we go with the easy 240 or maybe run the risk of getting stuck in long chain that could potentially break down I know there are not any certaintys with either option but WHAT WOULD YOU DO??
Please give your opinions!!
Cheers
Kris xx
your buyers should have had their mortgage offer sorted before making an offer and your agent should have checked this out first really. ok 5k is no alot to drop but it is also not alot for your buyers to find. the thing is they now want you to loose 10k because they can't raise 5k.
i would ask for a 10% deposit by a certain date (before exchange) to secure the property for them. if they don't go for that then they are not serious buyers. or i would tell your agent to keep marketing the property until you exchange contracts. that way you keep your options open and hey presto the buyers may find another 5k to offer you to stop it being marketed.
if you had been on the market a while and had no offers it would be different but you have only just gone on the market and are in no rush really to sell so don't be pressured, it's your call not theirs. yes they could find another house but you can also find another buyer. selina x