Thought I would ask this question as I want to be prepared in case we do actually receive an offer on our flat.
After seeing last weeks Loc x3 where the buyers pulled out of two sales a few days after making the offers - and after getting the seller to agree to not allow anymore viewings! - what happens once we receive an offer? Is it the done thing to accept it and not allow any more viewings? I think it would be wise to keep the property on the market until the buyer has shown some form of commitement - for example, has arranged for the survey to be done?
Can anyone advise please?

The agent we bought through kept the house on the market until we gave them our solicitors details. In fact, they had already accepted one offer when we saw the house but the people hadn't provided the details. We offered more and provided details straight away so we got the house. However, when we sold our house, our agent took the house straight off the market even though the buyers hadn't provided any details. Think it must depend on the agent.

I believe that it is common practice to keep the house on the market until the buyers can prove that they are in a proceedable position. This is what happened when we bought, we had to prove that we had a deposit and mortgage offer (first time buyers).

As long as they do this then I would say that it is right and fair to take the house off the market. You may leave it on and get a higher offer and everything thing works out for you, however if you leave it on the market then maybe you really can't complain if your buyers pull out as you haven't offered them any exclusivity.

We have accepted 5 offers on our house since November, & every single one of them has dropped out. So I'd definately recommend you to keep your property on the market until you have a firm commitment!

I agree with the others - I would always allow viewings until the survey had been done. Then when/if the buyer drops out, you have a potential list of others who want to make an offer.

That's how we got our current house - we viewed it while it was supposedly 'under offer'. A week or so later the buyer dropped out and the EA had already registered our interest so we were ready to go.

I would have reservations about an agent who insisted on stopping viewings after an offer had been made. Agents work for us, the vendor, and we are supposed to call the shots. Aren't we?

I too have been quite shocked at Location x3, it seems every time they ask them to stop any more viewings and then inevitably they pull out of it.

I am selling my house currently and once I received an offer I didn't stop other viewings because offers are only the first stage after all. However, now that my buyer has had the survey and we're at the sale agreed stage, I've said that there's no point in sending anyone else around. I know Phil and Kirsty are always fond of stopping other viewings as soon as the offer is made, but I don't think most people would expect that to occur. I think an important factor is whether you would consider any other offers, once you had accepted the first one. In my case I would have considered other offers perhaps, because my buyer is in a chain and she didn't tell me that at the start... roll on exchange of contracts!

I don't think there's any agreed practice. Personally, I think it's mean to let someone incur costs if you're not serious about selling to them. So instructing solicitors, booking survey are, in my opinion, signs of seriousness.
I don't know if there's anything eas can do to discover if someone really has the funds. Though, as someone said on here, why people don't get the mortgage sorted out in principle first is a mystery.

Yes remember second hand house sellers work for us, we employ them and we sack them.

That said many of them do a good job but I do confess to not having much time for them.

I think the programmes edit for a no more viewings bit to add to the show and feeling of having accomplished something.

I do laugh at the way some folk describe reasons for not saying yes on the spot,

My favorite from one of the homes abroad series is " We will have to return to UK and RUN SOME NUMBERS"! In other words nice holiday but were skint and cant afford it even though there is nothing wrong with the place.
Rant over
Mike

Thanks for all your advice.
I'm worrying about things before they happen cos our estate agent has been completely cr*p - but I will save that for another post!

You have got to give the buyer the benefit of doubt, I would always ask a seller to remove their property from the market but keep a strict timescale on the time it was removed.
It really annoys me Queenstomper, when sellers keep their property on the market once they have accepted an offer, as they invariably reject allcomers thereafter; so the practise only serves to waste the agents time. But hey, you call the shots! Fine, just don't moan when I have little time to give you viewings, or feedback cos I 'm out chasing my tale for your amusement.

I'm glad our vendors, and their EA, didn't have the same attitude as you immy, or we would never have got our house. They were quite happy to allow more viewings after the 'offer' (it transpired the couple didn't even have a mortgage arranged, and discovered they couldn't get one) and it turned out to be to everyone's benefit, because we were ready and waiting when they fell by the wayside.

I am also surprised to hear you say you have to give the buyer the benefit of the doubt - after all you have said in the past about timewasters and the general deviousness of buyers and sellers.

the fact that I give them a strict 2 week period shows my trust on day one it is an attitude that pays off as I catch the wasters quickly.
When I bought the agent had not changed the board over to sold after 3 days so I had a friend call up to see if they were offered the house they were n't luckily as I would have pulled out a sentiment held by most buyers!!
I had parted with survey and mortgage arrangement fee I fthe vendor was trying to guzump me then I would have been furious

Velvet
I purchased my first property in similar circumstances to you however the agent i bought through was happily running the sale for weeks prior to me getting involved only for it to fall through cos they could not get a mortgage.
I have an obligation to write to every buyer informing them that the vendor wants to keep the property on the market after their offer.This is an obligation that makes my heart sink as i know that as soon as the buyer gets the letter they are on the phone threatening withdrawel unless the property is takeen off