Can I make an offer on a house if mine is not yet on the market?
We have made an offer and were told by our estate agents that we can't because ours isn't on the market. We waited before we had seen something to put ours up for sale.
Asked on Jul 19 2011,
General in Swindon |
In the UK at present an offer on a property isn't legally binding, like it is in Scotland. So yes you can make an offer, but it might not be accepted if you are not in a position to proceed. Even if the offer was accepted you would not be in a strong position and another offer could mean you lose out.
Answered on Jul 19 2011,
You can but the estate agent dealing with the sale will recommend to the sellers that they stay on the market until you are in a position to proceed, Try talking to them and say you will go on the market with them so they will get two commissions, this usually and can work in your favour, Good luck.
Answered on Jul 20 2011,
Putting your property on the market with the same Agent as the one you intend to buy from CANNOT put you in a good position. The Agent has a duty under The Estate Agents Act 1979 to look after their client's best interests - and that means finding the best offer in the quickest time. Yes - the Agent does stand to gain two fees - but if you lose the property you may well take yours off the market and cost the Agent his profit margin on the original sale in abortive costs.
Choose the Agent YOU believe will look after you and your property best. Get several appraisals (including the Agent who is handling the other property, if you feel they are up to the job...) - don't tell them how much you want - let them tell YOU how much your property may be worth. Tell them you have an interest in another property and that they will need to act swiftly to get you a buyer. Do your research - how many properties have they SOLD like yours? How many buyers might they have looking for properties like yours? Count the boards near you - the percentage of SOLD boards is important. If an Agent has sixty boards but only three are marked 'Sold', then they are LESS efficient than an Agent with twenty boards with two showing sold!
Lastly - 'secret shop' the Agent before instructing. See how they react when you enter their office. Do they smile? Greet you like you are welcome? Ask you how they can help you and then act upon it? These are the signs of a good Agent - and remember, how they react to YOU is a good indication of how they will react to YOUR BUYER!
Best of luck. Keep us informed.
Answered on Jul 25 2011,
You can always make an offer which can be accepted 'in principle' to you selling yours. It would just be put in the 'back of the file' and the property would most likely be marketed until you have sold STC...
Answered on Aug 27 2011,
Didn't find what you were looking for? Ask a question
More General in Swindon questions on AskMe
See more AskMe Q&A about General