Ok, so our house is on the market and after a few quiet weeks, there seems to be quite a lot of interest now.
No one has actually made a final offer yet, but I was wonder what the norm is after an offer has been made and accepted by us.

We accept someones offer, but they have not yet sold thier house - is it the norm for me to take my house of the market and wait until they are ready, or should I keep it on the market and hope to get another offer from someone who has already sold thier house. Do I have any choice?

We also had people in last night who seemed really interested but the chain that they are in has broken a few people back, i.e. they have sold thier house, but the person buying it has just had thier buyer pull out. Again, let;s say they make an offer that we accept, should my house come of the market or should I leave it on in the hope that a more 'reliable' butyer can be found.

Or should I just stick my house on the back of a lorry and drive it back to Scotland where the house selling laws are atleast sensible

 

once you accept an offer a genuine honest person usually takes their house of the market. alot of offers now have that as a request anyhow to make sure its not stole from under their nose.

it has been known for people to keep there house in the window for other potentiol buyers, I took mine of the market the last time we moved but 2 months on and no progress what so ever I told him to get lost when my neighbour offered me the same money for it in cash

 

An "Offer" is not really an offer unless they have the cash to back it up i.e. they have exchanged contracts on their own house or actually have cash reserves. I certainly wouldn't take it off the market in other circumstances and I am sure your agent will tell you the same. Once a real offer is made people can still view but should be told that the house is under offer. This is when it can get nasty if someone wants to up the ante but less likely these days I would think. Good luck with sale. DL

 

thanks for the replies, I think I tend to agree with DL more than davegtt.

davegtt, I appreciate the 'honesty' of taking the house of the market and I will, assuming the buyer can prove that they are in a reasonable position to buy, if they have not yet sold thier house, then mine will be staying on the market, that seems fair.

DL, it's exaclty your situation that I am trying to avoid, i.e. I take my house off the market, get pissed around for 2 months and then the buyer pulls out.

Anyone looking for a nice house in Stevenage?

 

Unfortunately with our way of selling houses, my experience is that you have to put your own interests first. You cannot be sure of the sale until contracts are exchanged. Even at exchange probs can occur such as gazundering in a falling market.
Look at www.which.co.uk they should have info, although you may have to be a subscriber to get info.

 

Although I am not sure I meant exactly what I said above!! When we were selling we accepted offers from people who had their own house under offer, even if it was chain linked, but still kept it on the market with an "under offer" proviso. What I didn't mean to say was that we only accepted offers from cash (or exchanged contracts buyers). The moral dilemma arises when you have accepted an offer in these circumstances i.e. the chain scenario and then moneybags comes along with used oncers and ups the offer. We were on the verge of selling when the bottom of the chain property sale went **** up - all because a little old lady changed her mind about moving to be nearer to her family. I even investigated the possibility of buying that flat (as a buy to let) to keep the chain intact to facilitate our own sale at top of chain. But you will even get people who will make an "offer" and then say "well we will be putting our house on the market soon and we know it will sell quickly" and expect you to take the FOR SALE sign down!! DL

 

You should find out from the buyer when they expect to be able to exchange - obviously a first time buyer is ideal but if the buyer is dependant on selling thier home before they can proceed to buy yours then you could be in for a long wait.

Put a deadline on it, if the deal hasn't gone through by a given date then the house goes back on the market.

 

Bluntly that's my point. You have to decide on your own morality. If moneybags comes along take it. In the cut and thrust of house selling others would do it to you. Scotland isn't as great a system as it seems cos of sealed bid system which leads to price escalation.

 

It seems to be the norm to take your property off teh market only when u have received an offer from a person who can proceed, ie, has the cash or has sold. Do not accept an offer from anybody who still has to sell.

Of course all this can still go wrong, as it did for me on 2 occasions:

House 1: we got to the week of compeltion & the survey showed £2K was needed on roof repairs......as we had offered a top price we wanted to renegotiate, he refused, so we pulled out (having spent £1.5k) as we found somewhere better that evening!! His place is still up for sale a year on!!

House 2: The seller withdrew on the day of exchange. We lost £1k.

We are now in house 3........best of the lot!!

 

Don't take your property off the market until the buyercan proceed with the purchase.

 

Exactly, we are at the final stages of our sale now (again!!). We offered on the new property, but they wouldn't accept until we sold ours. Luckily sold ours within 1 day as the market is mad here!!

Now have a 7 house chain, everything surveyed, mortgages all done. Hoping to sign contracts next week and exchange (ballache waiting for that bit).

But after what happened in June (house we were buying pulled out day before exchange), we are on tenter hooks now