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Accepted offer on ours, got a "firm no" on first bid we made...

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RedfordML
RedfordML Posts: 904 Forumite
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edited 6 October 2017 at 3:48PM in House buying, renting & selling
...elsewhere.


Sounds like they are annoyed to getting an offer!!


17k less then "guide" - its a 4, a 5 bed same close, sold 2016 for 4k less than the offer but "firm" suggests not even close!


Do we let them sweat over the weekend? Do you "ask" the agent what there client want or is that a massive no no??


Thanks
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  • Surrey_EA
    Surrey_EA Posts: 2,042 Forumite
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    Every seller is different. They will each have their own motivations, and price expectations. Some will be in a hurry, other less so.

    Does £17k represent 1% of the price, or 10%?

    Absolutely ask the agent, they want to agree a sale too. They should be able to advise you what the expectations of this particular seller are, and how flexible they are likely to be on price.
  • spadoosh
    spadoosh Posts: 8,732 Forumite
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    edited 6 October 2017 at 3:58PM
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    Let them sweat. :rotfl:

    You made the offer, they said no and youre now on an online forum panicking about what to do. Whos sweating?

    No one can tell you. Might have a better idea if you gave selling price, time on market, feedback of any interest in the property, the financial status of the sellers as well as the reason for selling. Without this we can only assume they are willing to accept the asking price.
  • toc25
    toc25 Posts: 237 Forumite
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    My buyer offered us less than asking price and we were quite offended by it to be honest. We said no not a chance. We ended up getting loads of offers and our buyer raised his offer by over 20k.

    You will only be successful with a low ball offer if the seller is desperate I'm my opinion.
  • RedfordML
    RedfordML Posts: 904 Forumite
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    Haha. Surprisingly very calm.

    Really, all I really wanted & should have asked is do you let the agent guide? Sounds like I should..,
  • spadoosh
    spadoosh Posts: 8,732 Forumite
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    Its always worth sticking the feelers out. Bearing in mind that agent will probably know exactly what theyre willing to accept considering they probably told them how much they should accept. They also want to sell the house so they get their cut. They should be quite forthcoming although will stop short of dropping themselves in it.
  • gycraig_2
    gycraig_2 Posts: 533 Forumite
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    Problem with low balling is it's a personal transaction not business. Houses or cars if someone came in with a very low offer I just lose interest in them, to much risk of gazumping or whatever it's called
  • Scotbot
    Scotbot Posts: 1,448 Forumite
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    edited 6 October 2017 at 5:33PM
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    toc25 wrote: »
    My buyer offered us less than asking price and we were quite offended by it to be honest. We said no not a chance. We ended up getting loads of offers and our buyer raised his offer by over 20k.

    You will only be successful with a low ball offer if the seller is desperate I'm my opinion.

    Or if the seller has put it on at too high a price and now realises this having had little interest, particularly if the offer price matches the EAs valuations
  • comeandgo
    comeandgo Posts: 5,744 Forumite
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    If someone offered very low, they would not get another chance, no way. It gives an idea that they can’t really afford the property or are likely to play games nearer to exchange.
  • Jenniefour
    Jenniefour Posts: 1,393 Forumite
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    Can't imagine why you think they will be sweating it out over the weekend, they've said "no" haven't they?
  • chappers
    chappers Posts: 2,988 Forumite
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    RedfordML wrote: »
    Haha. Surprisingly very calm.

    Really, all I really wanted & should have asked is do you let the agent guide? Sounds like I should..,

    Maybe but if the agent is working properly for their client they should be trying to get the best price they can. If a property has been on the market a while then the agent may also be more inclined to give you a bit more of a heads up and guide you more.
    do your own research work out what you can afford or would be willing to pay.
    How you work your way to offering that figure is up to you after all it's your money don't worry about offending or annoying the vendor by offering piecemeal if you think they might take a lower offer.
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