2 offers on house, which to accept?

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1997

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Hi we recently put our home on the market (3 weeks ago) had a couple of viewings but no major interest so I contacted Dublin City Council and inquired about them buying it. They said they were interested and sent out a surveyor on 1 day and valuer the next (I was led to believe the process would be much longer). Anyway the valuer said that they would definitely put in an offer and they would be in touch by the end of the following week which was yesterday and we heard nothing. Estate agent called and told us that we had a viewing this morning, she came and loved it and put an offer of 5 grand under which we were delighted with. Agent also said that when he contacted the Council that the valuer was away for 2 weeks and someone else was filling in for her and would be in touch with us with an offer (obviously we are delighted). My question is although the Council offer wont be as much (we believe) we are wondering with the current housing market and sale agreeds falling through all over would we be aswell to sell to the Council as a precaution? I know the best offer you get would normally be what you would accept but we bought 11 years ago and have made a profit of 220000 and would be willing to go with a lower bid for the security, also we have a house picked, a new build that ticks all the right boxes for us and we would love to put deposit down on it but are afraid if we take the private offer it might fall through. Sorry this post is so long but Id really appreciate your opinions or advice, thanks!
 
Find out if there is a chain involved with the lady who has made and offer. If not how quickly is she willing to move. The council process while it may be more reliable to an extent may take a long time to happen - lots of red tape and procedure to follow. Public service is not the quickest at times. Take into consideration that while they say they will be making an offer they still have not.
I'd be taking the offer on the table especially if there is no chain and she's willing to move quickly,
Good luck with it all.
 
She is a first time buyer and apparently ready to go according to our ea, if the Council come back this week with an offer would you still think we should take the her offer? sorry bout the questions but this is new territory for us!!
 
1997 said:
She is a first time buyer and apparently ready to go according to our ea, if the Council come back this week with an offer would you still think we should take the her offer? sorry bout the questions but this is new territory for us!!
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I would go with the 1st time buyer. If she fails to move quickly then go back to the Council, don't forget it may be at least two weeks before the concil get back to you and even if you turn them down you can always go bak to them if the 1st time buyer pulls out.

Goodluck with the sale.
 
Take her offer but move quickly with it. Get your solicitor to have a final closing date and if things aren't finalised by then or looking like they will be finalised you could always go back to the council. Good luck with it. Don't stress I know it's easier said than done.
 
If you are happy with the price the 1st time buyer has offered I'd go with her too. Tell her it's her's if she can complete quickly. It will be in her own interest to move quickly as interest rates are due to rise again and any mortgage offer in principal could be reduced or cancelled depending on her ability to pay the new rate.

It's holiday season so you will probably find that when the valuer comes back someone else in DCC will be missing. It will probably be Sept before they come back to you. You will kick yourself if you let a buyer go in this climate and DCC let you down. If DCC come back you can tell them that you got another offer and you tried to contact them to see if they were still interested and you were told people were on holiday's etc. Tell them if it falls through and they are still interested you will give them first refusal.

As an aside the first time buyer will probably treat your house as a home whereas social housing is a mixed bag. You could get the family from hell moving in. If you like your neighbours and would like to think that someone will love your house as much as you did (I'm presuming you did anyway) the first time buyer is definitely a better option.
 
I'd also go with the first time buyer. As another poster stated, there is a lot of red tape in the county councils.
 
Yeah I'd go with the FTB mainly because the council can get anywhere and she prob loves the house she is bidding on.
 
Just to add that I have acted for vendors selling to the council in the past and it was a very fast process. So don't necessarily think that because it is the council the process will be slow.
 
Furthermore, the council may pull out just like any other bidder, so the best bet is the ftb, your neighbours will be happier with you at the very least. I have dealt with county and city councils and they are by no means straight forward in their dealings.
 
1997 said:
Hi we recently put our home on the market (3 weeks ago) had a couple of viewings but no major interest so I contacted Dublin City Council and inquired about them buying it. They said they were interested and sent out a surveyor on 1 day and valuer the next (I was led to believe the process would be much longer). Anyway the valuer said that they would definitely put in an offer and they would be in touch by the end of the following week which was yesterday and we heard nothing. Estate agent called and told us that we had a viewing this morning, she came and loved it and put an offer of 5 grand under which we were delighted with. Agent also said that when he contacted the Council that the valuer was away for 2 weeks and someone else was filling in for her and would be in touch with us with an offer (obviously we are delighted). My question is although the Council offer wont be as much (we believe) we are wondering with the current housing market and sale agreeds falling through all over would we be aswell to sell to the Council as a precaution? I know the best offer you get would normally be what you would accept but we bought 11 years ago and have made a profit of 220000 and would be willing to go with a lower bid for the security, also we have a house picked, a new build that ticks all the right boxes for us and we would love to put deposit down on it but are afraid if we take the private offer it might fall through. Sorry this post is so long but Id really appreciate your opinions or advice, thanks!
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From what you have said technically you only have one offer as council as not actually made an offer. If you are willing to go 5k under the asking price then accept the one from ftb'er as Am sure they will also be keen to move quickly . If on the other hand you want more money and think counicl will offer more then wait and see but dont mess the ftb'er around and just decline offer, as its no fun for them being messed around either.
 
Hi, just to update, The Council made an offer to match the other buyer but we decided to take the ftb's offer after all and we are hoping we can keep the Councils offer on the back burner just in case!! Thanks for all your advice on the situation! We are hoping to put a deposit on our new home this weekend!!!
 
Please make sure you put a clause in the contract of your proposed new purchase that it's conditional on the sale of your current house. Not until you have the money in the bank are you sure that this is so - just having signed contracts does not mean your current house is sold.
 
I never heard about selling to the council, is this only in a council estate? Or do they look at all properties wherever
 
Just to add to the selling to council debate. Think you did the correct thing.

There was a house for sale in my estate, four bed, which the county council had bid on and apparantely sale agreed. They pulled out, as I rang up to be nosey. I think they too are looking for better value with the current slow down. I guess if you are head of "property aquisitions" at a local authority, you'd try not to pay over the odds in the current climate. A FTB bid is personal so they have to live with it. Also does anyone remember the Galway ruckus, where one of the councils pulled out of a number of deals to purchase private property. Not sure what the official reason was.

Good luck.
 
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