twentyfour
Registered User
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- 14
Thanks, have read the thread but unfortunately it doesn't help all that much!
You cannot simultaneously accept someone's offer to buy a property and then continue to offer it on the open market.
quote]
I did !!
You cannot simultaneously accept someone's offer to buy a property and then continue to offer it on the open market.
quote]
I did !!
Batty is right. It is not a very nice thing to do but it is allowed. But remember what goes around comes around. In otherwords don't be surprised if gazundering (Excuse spelling) occurs or if buyer keeps looking at other properties after offering on yours.
Batty is right. It is not a very nice thing to do but it is allowed. But remember what goes around comes around. In otherwords don't be surprised if gazundering (Excuse spelling) occurs or if buyer keeps looking at other properties after offering on yours.
I didn't think that "it wasn't a nice thing to do" after I had been let down by 3 separate parties, taken my house off the market following an offer & then they backed out!!
If somebody is serious about buying your house they'll have their funds in order & sign contracts promptly.
"what goes around comes around"?????????????
Lets be realistic - the people who made the offer aren't in a position to follow through in a timely manner. Forget about it and move on.
I didn't think that "it wasn't a nice thing to do" after I had been let down by 3 separate parties, taken my house off the market following an offer & then they backed out!!
If somebody is serious about buying your house they'll have their funds in order & sign contracts promptly.
"what goes around comes around"?????????????
Surely that's exactly what I was saying. You were not happy when it happened to you so you felt you had no option but to do it to someone else. ie "What goes around comes around"
I think its important to make a few salient points about property/conveyancing etc.,etc in this jurisdiction which differs very considerably from the UK.
1. The "property chain" concept has never really taken off in this country. Rather than have a long list of prospective vendors and purchasers none of whom were ever contractually bound until the last, possible, skid to the finish, minute, most vendors will have a contingency plan to move somewhere rather than lose a sale. Purchasers come in many shapes and sizes - a lot will be f.t.b's, cash, " on bridging finance" and mostly it will become clear early in a transaction if a purchaser is a serious contender or ( as someone here said) at best naive. For anyone who has been out of the property market for a while, the complexities of buying/selling/dovetailing transactions can come as a major shock. Witness some of the posters on these pages.
2. Its entirely possible to "accept" someone's offer "in principle" while continuing to show the properye. But the offer is only as good as the offerors ability to complete.
3. With so much uncertainty in the market, I think everyone ( Vendors, Purchasers and EA's) are going to have to be much more flexible/creative/reactive in the whole process.
mf
Again I do not necessarily agree. If you look at it the other way, would you buy a property from someone who did not have a property to move to. I certainly would not. I lived for a long time in England and was involved in a few property chains during my time there. It was standard practice then for someone to put an offer on one house before putting there own on the market.
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