Selling&Buying - bidding on a property

[CaptainCat]

Good Afternoon All,

We put our house on the market last week with only one viewing so far so we're unsure as to how quickly we'll get any offers. Early days tho I know.

We have viewed a house we are interested in. An offer was received on this house apparently 10 minutes before we viewed it (about 4% below asking). EA knows we are selling our own home but is showing us the house again as we've highlighted our interest and appears eager to get us in there.

If we were to put an offer on this house after we view it again, do you think our offer would be entertained even though our own house is yet to go Sale Agreed?

 

[noproblem]

Put an offer on the house if you have the money in place, don't, if you haven't got the money.

 

[Butter]

We went sale agreed on a property on the understanding that we would immediately put our own on the market. The owners said they'd wait for us to sell. I guess it depends on the sellers & the competition.

 

[mollyblue]

We were advised by EAs in most houses we looked at to have our own house sold or up for sale (this was when we were just browsing). The main thing was to have finance in place with the bank.
We lost out on a suitable house as vendors were not willing to wait for ours to be put on sale. However on another house it apparently suited the vendor that we were yet to sell our own. He wanted more time to look at others for himself.
As Butter said it depends on vendor and their circumstances.

 

[CaptainCat]

thanks everyone. we have the finance in place and our house is up for sale. I've asked our own EAs advice on how to approach the other EA. He may even discuss the matter on our behalf with the EA, so that could be helpful. I agree it'll all depend on the vendors and their situation. Thanks again

 

[Bronte]

Come off it, you cannot go bid on another house one week after having put your own house up for sale and having one viewing, no bids, no deposit and no contracts.

Can you explain the finance please.