Nimbus

House has been on the market for a few months. Had three viewings over the weekend, two of which have put in offers today. One at asking price, one a couple of grand less. Instructed the agent to go back to the lowest bidder to advise that another party have made an offer in excess of theirs...

Has anyone been in this situation before? Not sure what the next move is but will probably take the Full asking price offer as they have a slightly shorter chain. Scary really. First time we've had to sell. All that hassel and cost of moving to look forward to...

stevem2k

this is the easy bit mate.........

The Zohan

Keep both parties sweet, you never know what may happen.
Get a good solicitor, not necessarily the one the agent reccommends, ideally one a friend(s) or such has had good experiences with.

The shorter chain and higher offer is a good thing, wise to advise the other party of a better offer and see what they come up with.

Nice situation to be in and good luck.

Puff The Magic Wagon!

iTrader: (2)

Must be the week-end for it

Had an offer on our house, which although less than asking, we've accepted Mainly due to them being CA$H buyers & as long as they can exchange within 6 weeks.

Fingers crossed - hate this time as it can still all go weird...

mattstant

best time of year for selling
check out the position of each buyer carefully the highest bidder may have a place to sell and the lower bidder may have cash in the bank and no chain.
This can make a huge difference as there are alot of bull****ters and time wasters around and chains can all to easily collapse

ChrisB

Good luck Nimbus and Puff.

I should be completing 6th June

Nimbus

Thanks for the comments guys...

Both parties have sold. One chain is 3 the other is 4. We'll see what happens tomorrow but we will probably go for the ones who offered FAP.

Cheers
Nimbus (preparing for increased stress levels over the next few weeks)....

V5

There must be something in the air! We're buying our first house atm. There's no chain on either side so it should be scarily quick!

So shortly I shall be terrorising the DIY forum with dumbass questions!

ChrisB

I'm bottom of the chain as a FTB.

Guy in 'my' house is buying a place that is now empty so not very big chain at all

Clarebabes

Well, my house has been on the market for 3 weeks now and not even had any viewings! Thinking I may have used the wrong estate agent.

Problem may be that the house next door is also up for sale. Do you think this will have an adverse effect?


P.s. mine's nicer than theirs, but £4K more expensive

Badger Stuffer

Clarebabes, no offence intended but which is nicer will be the potential buyers opinion.

Unles you have an extention, etc and they don't then what makes yours better.

midget1500

what the hell is this "chain" you speak off?

ChrisB

Can your agent sell it for the extra £4k? Nice list of plus points or features that next door doesn't have?

Maybe get a friend to ring up and ask them about your house. Then get them to mention next door - can your agent start to hook them into your house?

Oh, is it the same agent as next door?

ChrisB

Chain...

I'm buying a house that is occupied.

Occupier of my house to be is buying another house that could be occupied.

I depend on my seller moving out.
He depends on his seller moving out for him to move in

And so on - one link is dependant on the next one for the whole process to work, just like a steel chain.

The bigger chain, the bigger the potential for more grief, stress and headaches.

As a first time buyer, I'm bottom of the chain as I don't have to worry about selling anywhere. Once it's your 2nd, 3rd or whatever number house, you could well end up in the middle.

Clear as mud, right?

[Edited by ChrisB - 5/27/2003 5:42:18 PM]

dsmith

Been lucky so far

1st House = We FTB - Vendor moving back to parents. No Chain!

2nd House = We Selling to Cash Buyers, Vendors moving into Rent. Chain of 2.

You hear some real nightmares for big chains

Deano

Puff The Magic Wagon!

iTrader: (2)

Don't worry Deano - I can give you nightmare stories of very small chains

The Zohan

Clare
Which agent are you on with?

David Lock

Just been through the long chain nightmare myself so best of luck. Just to confirm what has already been said. The key is to be 110% sure that buyers' offers are real i.e. they have cash or are about to exchange on their own place/s but don't play them off against each other too much as they may both b-ugger off. We had several "offers" for our house but many of them were "if-granny-snuffs-it-and-we-have-sold-our-place-(which-is-so-fabulous-it-will-be-sooooo-easy-to-sell)-we-would-like-to-buy-yours" type deals. I assume offers are through two different agents in which case the agents should be keeping in close touch. Last tip - communication is all. If and when it starts to go through keep pestering agents/solicitors etc 'cos if you don't someone will forget something. David

midget1500

cheers ChrisB

RON

Without being too personal, or asking question that don't want to be answered, what sort of price bracket are we talking with these haouse that have recieved offers, cos our house has been on for seven weeks, with only one viewing, everyone around here (dorset) say the same, but, the price on ours is 275K, do you think there is activity at the lower end, or is it just a patchy thing?

Ron.

ps, we're moving into a new house, so no forward chain!
If anyone wants a nice 3 bed thatched cootage in Dorset, mail me!!
impreza_dood@yahoo.co.uk

Puff The Magic Wagon!

iTrader: (2)

Nowt personal - its on the web someplace - £400K

4X4BOB

Just had a totally stress free sale of my house!

Didnt use an agent, sold it direct to my mate for the higher of 3 valuations I'd had done. Only cost me just under 300 quid for my solicitor (friend of my fiance).
Banked my big fat cheque last Friday and now live in my future wifes detached house. SWEET!

Bob

Nimbus

Have accepted the offer from the party who offered the full asking price. The have a shorter chain and put their offer in first anyway...

Hope everthing goes OK...

scoob_babe

I bought the flat from a couple moving back to parents until they have sold.
We sold flat to FTB and bought house from a retired couple moving up to Aberdeen. Shortest chain we had.
The one that fell through wasn't so much a chain but a circle of 4 of us. Person at the top was buying our flat for their son to complete the chain. (Wish I had a spare £140k!) Unfortunately the people we wanted to buy off pulled out 24hrs before the surveyor was due round. The estate agent had spoken to the vendor the day before to OK the surveyor appointment at 5pm and received a fax at 9am the next day to say it was all off!!!
The agents never heard from them again, not for want of trying but were very good with us when they dealt with the house we now have.