selling house - ethical question

[BimboBob]

Yeah, I appreciate that. Witness my reply to the post earlier about a verbal agreement being binding. I was looking at it from a moral standpoint. And yes; I realise that ''moral'' doesn't pay the bills.

I'm providing a counterpoint...I agree with you. I'd feel obliged to take the first offer as I've agreed it and probably shaken on it. I'd feel dirty if I didn't.

Despite how it looks, I wasn't arguing with you. Honestly!

Yes you were. You always argue with me. Admit it, go on, you hate me, I've always thought so, quoting me with every post, trying to poke me with a stick, provoking me to counterpoint an argument with you. Well I'm sick of it. Give me your address, come on, I have money you know, and a passport, I'll be over in a flash, not The Flash obviously as that's a different poster and he likes you, at least I think he does, although he has never admitted it on here, well The Flash do you? I bet you do as well, right, give me your address as well, I'm dead hard me, ask anyone, go on, I thought so, bottled it as usual, coming on here with your smooth ways, you see if I don't.


Sorry, where were we?

 

[Citizen in Pakistan]

But since verbal contracts are valid in UK,he could enforce the sale through court

If that's right, why haven't the estate agent cancelled the other viewings? As I said, ethically and morally, I reckon I'll honour the agreement, I was just interested in the BM view.

obviously the higher the price the bigger his commission and for a valid contract offer,acceptance and consideration are the essential elements which are all present here and if there are witnesses to the agreement between you to then he can definitely enforce it through court,the problem with law is that a lay man does not have much knowledge of the law and the rights he's entitled to,and one thing you should keep in mind for the future is that never settle for the first offer you get when in the market,explore your options before you make up your mind

 

[Gelsons Dad]

Currently selling the house, and the first viewing brought an offer that we accepted. Nothing has been signed, and the house has been on the market for 2 days. Now we have more viewings, so what do we do if someone makes a better offer?

My missus reckons that we shouldn't be greedy and let the first viewers have it, even if we're offered more money. Now I'm inclined to agree with this as I think it's morally the right thing to do. However, my neighbour said if nothing is signed, and more money is on offer then you take the higher offer, letting the other party know.

What would you do?

Cancel the viewings if you are confident the offer is serious and are happy with the price. If not, put your capitalist head on and wring every penny you can out of the sale. What is the risk that the first buyers pull out? What is the risk that you put off the first buyers and don't get a better offer? What is the risk that the whole process drives you round the fucking bend?

 

[BigJimLittleJim]

Gazumping is a ****'s trick, however in this market the buyer is as likely to let you down either intentionally or otherwise.

Like a previous poster said, the best buyer isn't necessarily the one with the best offer, so play it cool and try to be fair to all, maybe get a deposit as a show of good faith to take it off the market?

 

[Bill]

Accept the higher offer. I've had a house "sold" since May and this week the buyer has pulled out after wasting my time for three months. It will stay for sale next time it sells and the first to pay gets it.

Fucking hell, that's shocking. The couple we've agreed a price with are cash buyers, so hopefully things will go OK (they've provided proof of funds), and will move quickly. Next viewing is tomorrow. We haven't even had pictures of the house taken yet - the estate agent won't be doing too much for their fee!

With all this interest it's obvious it's been pitched too low by the agent. Get what you can.
An extra 5 grand will get you some lovely carpets for the new place :)

 

[squirtyflower]

Accept the higher offer. I've had a house "sold" since May and this week the buyer has pulled out after wasting my time for three months. It will stay for sale next time it sells and the first to pay gets it.

Fucking hell, that's shocking. The couple we've agreed a price with are cash buyers, so hopefully things will go OK (they've provided proof of funds), and will move quickly. Next viewing is tomorrow. We haven't even had pictures of the house taken yet - the estate agent won't be doing too much for their fee!

With all this interest it's obvious it's been pitched too low by the agent. Get what you can.
An extra 5 grand will get you some lovely carpets for the new place :)

Do you know any suppliers of decent carpet?

 

[jimharri]

I'm providing a counterpoint...I agree with you. I'd feel obliged to take the first offer as I've agreed it and probably shaken on it. I'd feel dirty if I didn't.

Despite how it looks, I wasn't arguing with you. Honestly!

Yes you were. You always argue with me. Admit it, go on, you hate me, I've always thought so, quoting me with every post, trying to poke me with a stick, provoking me to counterpoint an argument with you. Well I'm sick of it. Give me your address, come on, I have money you know, and a passport, I'll be over in a flash, not The Flash obviously as that's a different poster and he likes you, at least I think he does, although he has never admitted it on here, well The Flash do you? I bet you do as well, right, give me your address as well, I'm dead hard me, ask anyone, go on, I thought so, bottled it as usual, coming on here with your smooth ways, you see if I don't.


Sorry, where were we?

I'm sorry; is this the five minute argument, or the full half hour?

 

[deano ou812]

Who was it said a verbal agreement isn't worth the paper it's written on......

 

[BimboBob]

Despite how it looks, I wasn't arguing with you. Honestly!

Yes you were. You always argue with me. Admit it, go on, you hate me, I've always thought so, quoting me with every post, trying to poke me with a stick, provoking me to counterpoint an argument with you. Well I'm sick of it. Give me your address, come on, I have money you know, and a passport, I'll be over in a flash, not The Flash obviously as that's a different poster and he likes you, at least I think he does, although he has never admitted it on here, well The Flash do you? I bet you do as well, right, give me your address as well, I'm dead hard me, ask anyone, go on, I thought so, bottled it as usual, coming on here with your smooth ways, you see if I don't.


Sorry, where were we?

I'm sorry; is this the five minute argument, or the full half hour?

I gave you a fiver.

 

[Tragic meat van guy]

To be fair if the agent had other viewings booked after the 1st day of calling it out, there is no way they should be advising you to accept that offer, they should be saying to your buyer 'the owner likes your offer, but i'm sure you can appreciate its the 1st viewing and it only went on this week and we havent even done photos yet so he will be waiting until these other viewings have taken place.

unless of course you want to make him a higher offer with the proviso that he cancels these viewings and doesnt have any more.

those viewings should only then be cancelled when the mortgage survey has been proven to have been payed for or in the case of the cash buyer, searches have been paid to the solicitor, making them at least a little bit committed, because as mentioned before, they can pull out at any time.

Back to your situation, if you get a higher offer within a few days, personally I would take it whilst offering the first buyer a chance to increase. They wont lose any money IF its only been a day or so.

If you get a higher offer weeks or months into the conveyancing and take it, well, that would make you a tosser in my humble opinion.

Good luck