Nearly Sale Agreed - think EA has messed it up!

J

johnny10

Guest
Hello,

We are in a situation of having had our house on the market for nearly 6 months now. It sale agreed at asking price but subsequently fell through, unfortunately. Things have been very quite and we have reduced the price to 10k less than original asking price.....

We received an offer at 10k less than new asking price over a week ago. We went back to offeree and asked them to come to asking price but they stuck with their one and only offer.

We have thought about this and have decided that we are prepared to accept this offer, given that we are desperate to move (don't ask, crazy neighbour), have a deposit on another new house (we will be pushed to signing contracts soon) and the old bird in the hand.....

Today, we confirmed with the EA that we would accept this offer, however wished to work towards a 'quick closing' i.e. we hoped to close in mid Dec. The offeree has no property to sell, so this didn't seem unreasonable. Whilst I was speaking to our EA I indicated that I would be anxious to have contracts signed soon enough (perhaps a 2-3 week turnaround, then we could make our own contract deadline on new house) but that we could discuss this once we were 'officially' sale agreed.

EA rings me back after talking to offeree and tells me that she is gone to think about it. He had told her that we wanted the contracts signed within 14 days otherwise there was no deal!!

I'm really worried that he has messed this up for us by putting so much pressure on other party. I certainly was not indicating to him that we were imposing deadlines etc, the 2-3 weeks would be an ideal situation that we would hope to work towards. I asked him to call her back to clarify and he said 'yeah yeah, I will' (somehow I don't fully believe him!)

Any advice (besides bumping the EA off!)?

Thanks.
 
See, this just proves my theory on EA's. Why oh why didn't you just sell it yourself and you would have none of these problems.
 
Hi Clubman

I went back to EA and asked him to clarify the situation with the potential purchaser, and he said 'yeah yeah, i'll do that' (entirely unconvincing tone of voice)...so I am very sceptical that this actually happened.

We still have not received any word from the potential purchaser, even though she was contacted and offered sale agreed status early yesterday morning.

:-(
 
Well, I suppose she doesn't want to rush into anything, which is understandable in an obviously declining market. I don't think it's necessarily the EA's fault. But you should put the skids under him - it'll be a good lesson for him as he is going to have to work a lot harder to close sales in the coming months and years, I reckon.
 
Perhaps the bidders didnt have full mortgage approval yet and so the 2 week deadline may have put them under pressure. They obviously want your house if they offered in the first place, and 10k less than your new asking price must also be a good deal. Dont worry about it, if they want the house they will come back to the EA and state they will purchase the house and will do things as quick as possible.
 
Just to add, I do sympatise with you , I am selling because I totally clashed with my neighbours and its a horrible feeling. I was extremely lucky that the first viewers of my house put in an offer of the asking price which I accpeted straight away as I was a desperate to move as you are. Other houses in this area are on a go slow - there are 4 or 5 for sale in this new estate and all have dropped their asking prices.
 
Good news...

The lady that offered the 10k under asking price spent so long thinking about it that another viewer came, blew her offer out of the water and we have sale agreed with him! He wanted to pay the 10pc deposit on the spot!

We are just delighted to be able to get out of there now. Fingers crossed that all will go well until closing....
 
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