Hello
I am new here but just needed some opinions.
I am currently selling my flat in Sutton surrey and have had an offer yesterday of the full asking price of 170k. First time buyer.
I had a previous offer of 165k and had around 10 viewings in 10 days.
I had 4 valuations and only one estate agent thought my flat would achieve this amount. The others were adamant Id only achieve 165k at the very most, I however asked them to put it up at 170k.
My dilemma is that now its come to light that due to my partner being self employed, we may struggle to get the mortgage we need to buy a house and even if we do manage to get it, we still haven't found a house we like.
My partner thinks we should sell the flat anyway as we have been offered a very good amount for it and will have 33k equity. He's suggesting that we rent somewhere until we can either get more deposit together if the mortgage is declined or until we find a suitable house to buy.
I'm in two minds about this as currently my mortgage on my flat is only around 450 a month and I can rent it out for 900 giving us a profit every month to pay off of the mortgage.
On the other hand, I understand where he is coming from as he thinks that if we don't sell the flat now at this high offer then potentially the prices could end up going down and we would be worse off in the long run.
Sorry to bang on and hope this makes sense. just so confused about what to do. Are the predictions for house prices to fall in the uk over the next few years?
Thanks