House for sale, can i choose whose offers to accept?

dwayneburke

Hi

Quick one, House for sale, can i choose whose offers to accept?

I.e. i have a investor who is offer a certain amount and a young owner occupier offering 2 grand more (He says he has mortgage approval but im not totally convinced)

I def dont want the sale to fall through and would feel for the sake of 2 grand a quickish sale would be more beneficial. I know im going to get people harping on about giving the FTB a break but at the end of the day its my house etc and im only protecting my interests first.

What are peoples expierences on this matter?

Tks

0utshined

Sure,

It's your property so it's up to you who you sell it too and if you sell it. Provided of course that you haven't entered into an agreement with the FTB already.

0.

dwayneburke

nope no agreements or anything made yet

0utshined

That being the case it's up to you which offer you decide on though I'd expect the estate agent to try and get you to accept the one that's €2k higher.

dwayneburke

that only ups his commision by €20 though

seamus

Ah give the FTB a break!



The estate agent may want the extra €2k. It'll look slightly better on his books, as he'll use the price of your house as an ad to try get your ex-neighbours to sell too.

MorningStar

Ask to see their approval if they have it sell to them if they don't or take to long sell to the investor. Give them a day or two

dwayneburke

is that a common practice??? i.e. would it be frowned upon?

MorningStar

You can do what you like it's your house. There is obviously some reason you don't trust them. This way you are doing them a favour by not just dismissing them

Zaph0d

Sometimes investors don't have mortgage approval. Are you sure this one does?

I presume you have told the investor that you have a better offer and he says he won't meet the extra 2K. You have asked him to meet this price, haven't you?

It would be unfair to the ftb not to give him a chance to show whether he has mortgage approval or not.

dwayneburke

the auctioneer is playing all of them off one another i.e. above board of course. they are incrementing the bids at 1K a time (good for me Def).

Just got a call from the auctioneers again....another viewing this evening....hope this is the last viewing (tired of cleaning the bleeding house)

I dont wish to be a moan as im def not i think its great going up all the time....means more €€€€ to buy my new place etc...just dont want it to be dragging out for weeks...Im well happy at the current offer and bidder

Tks

jhegarty

dwayneburke wrote:

the auctioneer is playing all of them off one another i.e. above board of course. they are incrementing the bids at 1K a time (good for me Def).

Just got a call from the auctioneers again....another viewing this evening....hope this is the last viewing (tired of cleaning the bleeding house)

I dont wish to be a moan as im def not i think its great going up all the time....means more €€€€ to buy my new place etc...just dont want it to be dragging out for weeks...Im well happy at the current offer and bidder

Tks

i wouldn't call it "above board" when you only intend to take one of the offers not matter who bids higher...

i would actually call that underhand and sneaky....

dwayneburke

excuse me ,,,,the auctioneer is acting in my best interest trying to get my best price by showing the property, accepting the bid, going back to the other bidders seeing if they would better it, they did then he is going back to the outbid bidder to see if he will up his bid

I intend to take the highest Bidder !!!!!

What is underhanded about that????????

MorningStar

jhegarty wrote:

i wouldn't call it "above board" when you only intend to take one of the offers not matter who bids higher...

i would actually call that underhand and sneaky....

Contray to popular belief it is not the highest offer it is the "best" offer. It makes no sense to take the highest offer if it takes them a long time to actually secure their loan. Time=Money

First time buyers with their loan in place is a lot better than many developers as they care about that house while a devloper may not be that bothered and will go for the next property a lot quicker.

Beruthiel

I recently sold my apt. to a first time buyer with co. co. shared ownership loan.
why? cos no strings attached, she will wait till I'm ready to move and there is nobody behind her.
I did not bother waiting around for more money as I was happy with the offer ( also fed up cleaning! )
yes, in my mind the ftb deserves a gaf, the property dev. is probably an asswipe landlord.
anyways
on topic - it's your house, you can do as you please and sell it to who ever you wish - the estate agent will do as you tell him - you're paying him not the other way around, remember that!

MorningStar

Beruthiel wrote:

yes, in my mind the ftb deserves a gaf, the property dev. is probably an asswipe landlord.

You know without landlords there would be more homeless people. They provide an essential service. Unlike agents of all types you can't do it yourself. Many landlords are people who have invested their pension money to buy property because of the shift in employment. Being a landlord is work.

FTB don't deserve anything for just existing you work to afford what you want.

delly

Sold my house last year to a first time developer, even though there was a higher offer from a first time buyer who admitingly only had mortgage appoval for 10 grand less than the asking price. The reason i picked the investors offer was because i believed it would be a quicker sale.

How wrong i was. The investor hummed and hawed all the way, and then had a problem with Ulster bank giving her the right mortgage appoval which in the end put the house that i was buying on the line. It eventually got sorted, but i was pissed at myself for not getting a copy of mortage approval from the investor, as there atitude portrayed it as not being a problem from the start. Whoever you go with, make it a condition of sale that you will be able to see a copy of mortage appoval.

Cleaning the house perfectly each time really pissed me off as well.

Victor

You can accept any offer you want - once you are happy with it. You can also insist on a deposit (which is normal), that you can deduct expenses from in the event of the deal falling through.

I know of a sale where the executors were happy to accept a quick sale to a young family rather than drag out the sale. The money ended up in a trust fund for the deceased's sister with annual payments, all to keep the money form the sisters errant husband.

the_syco

jhegarty wrote:

i wouldn't call it "above board" when you only intend to take one of the offers not matter who bids higher...

i would actually call that underhand and sneaky....

I would call that fair.

Dude, wait till when you want, and then ask the people can they prove that they have the money. Then take whoever has the most money, not those who are offering the most, imo.

Victor

the_syco wrote:

Then take whoever has the most money, not those who are offering the most, imo.

You can't take money that they don't offer.

Dingatron

Sometimes investors don't have mortgage approval. Are you sure this one does?

Beware of trusting anyone. My friends sold their house to a so called invester and lost the sale of their house plus the one they were buying as well!

the_syco

Victor wrote:

You can't take money that they don't offer.

Sorry, I meant whoever had offered the most money, and have it. Not someone who has made a big offer, but has no proof they can pay it to you.

dwayneburke

tks for the info guys....i just presumed innocently that investors were the better route....the bottom line is i will accept the money from who ever has it!!

And also at the moment i am very happy with the price and would sell in the morning (and probably will) but the auctioneer wants to give all parties involved the chance to counter....

I have 2 fears.....first this will be drawn out for another week or two and also secondly i want whoever gets the final offer in TO HAVE THE MONEY AND BE ABLE TO GO THROUGH WITH THE SALE....

this mainly due to a friend of mine who had a deal fall through on him at the last minute and he was well pissed off as he had a follow on deal hanging in the balance....

I just thought investors = quicker sale but by going on the previous threads they have the same amount of caveats as FTB

Cheers people

dwayneburke

Sold!!!!! :d :d :d :d :d

Zaph0d

who bought it and was it the highest bidder?

Dingatron

Congrats on that! :-) It's always a good feeling when it's done and dusted.

dwayneburke

Cheers

It was the highest bidder and it turns out the auctioneers have previous experience with this person and she is trustworthy etc.....

And yes she was the highest bidder...(the other bidders bowed out)

MorningStar

dwayneburke wrote:

Cheers

It was the highest bidder and it turns out the auctioneers have previous experience with this person and she is trustworthy etc.....

And yes she was the highest bidder...(the other bidders bowed out)

Danger! DANGER!

I might be the untrustworth type but estate agents have been known to sell houses cheap to friends. Previous experience could mean they are best friends. A €100 or so can get your offer accepted

dwayneburke

I trust them.....my sis knows them privatly....aslo the are very reputable around town