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Waiting for a buyer... Anyone want to join me?

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Comments

  • I hope you don't mind me joining this thread. I am currently waiting for a buyer for my house and my mother-in-laws.

    Our house has been up for sale since beginning of December. We’ve had 25 viewings and one offer which we eventually accepted only for them to pull out a few days later as they couldn’t actually afford the property - how annoying!

    We dropped our price last week but can’t go any lower. Have one viewing booked in for this weekend but nothing else at the moment.
    Hopefully the Spring weather will bring more people out!

    Mother-in-Laws house has only had one view, but they made and offer which was accepted and then they pulled out as were told they wouldn’t be able to get planning permission for what they wanted to do!
  • Welcome Daisyboyd.

    Estate agent emailed with "someone wants to view but it is 20k over his budget".

    Clearly he can't afford it then. I see no point negotiating with people BEFORE they have viewed.
  • Cinders:
    Cinders: Posts: 214
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    LoopyLoops wrote: »
    Cinders fingers crossed the one the really likes it decides to offer soon if they are that interested.

    Thank you, I hope they make an offer. The EA seemed really positive about them - not sure if it was genuine, or just what they thought I'd like to hear!
    SPC # 115 :p
  • Cinders:
    Cinders: Posts: 214
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    Welcome Daisyboyd.

    Estate agent emailed with "someone wants to view but it is 20k over his budget".

    Clearly he can't afford it then. I see no point negotiating with people BEFORE they have viewed.

    We've had one potential buyer that did exactly the same thing, said our house was above their budget, but still wanted to look around!! :wall:
    SPC # 115 :p
  • hazyjo
    hazyjo Posts: 15,468
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    Kind of disagree. I would much rather someone say look this is my budget, is it worth me viewing? I did it once with a house which was £25k-ish over budget. We viewed and eventually had an offer accepted. Also bought my current house for £26k less than asking price. Now looking with a larger budget and have no qualms about looking at a house £25k over budget without telling them it's over budget. The one I've got my eye on has been on for a few months now and is £25k too much for me. Not looking for a bargain - will pay asking price if I think it's fair - but I do think that particular one is a good £15k over what it should be up for.


    They can only say yes or no. Worth a try.


    Also, they may be able to make the money back up the chain. I took a hit on one I sold as the vendor of the one I was buying from came down a fair chunk. I said if they accepted, I would accept the offer from my buyer. All worked out fine. If your LTV isn't great, it's harder.


    Good luck all!


    Jx
    2023 wins: *must start comping again!*
  • Crashy_Time
    Crashy_Time Posts: 13,386
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    Mickygg wrote: »
    Prodave most people on here know to ignore iantojones and Crashytime as they type utter nonsense and are very bitter towards the house market increasing. Put them on your ignore list then you don't need to read their tripe.


    Yep, then you don`t need to read or respond, problem solved.
  • Crashy_Time
    Crashy_Time Posts: 13,386
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    hazyjo wrote: »
    Kind of disagree. I would much rather someone say look this is my budget, is it worth me viewing? I did it once with a house which was £25k-ish over budget. We viewed and eventually had an offer accepted. Also bought my current house for £26k less than asking price. Now looking with a larger budget and have no qualms about looking at a house £25k over budget without telling them it's over budget. The one I've got my eye on has been on for a few months now and is £25k too much for me. Not looking for a bargain - will pay asking price if I think it's fair - but I do think that particular one is a good £15k over what it should be up for.


    They can only say yes or no. Worth a try.


    Also, they may be able to make the money back up the chain. I took a hit on one I sold as the vendor of the one I was buying from came down a fair chunk. I said if they accepted, I would accept the offer from my buyer. All worked out fine. If your LTV isn't great, it's harder.


    Good luck all!


    Jx




    Yes, many people will find themselves dropping the price eventually, as already mentioned it is surely much less stressful to just face reality early on in the selling process?
  • Iv just had an offer accepted at 20k below asking and it was priced ok at the start, but seller is desperate for a quick sale and the market is currently flat even in london commuter towns.

    Most of your interest should come in the first week as thats when it is at the top of searches and hit alerts. If you havent thrn its probably prived too highly
  • hazyjo
    hazyjo Posts: 15,468
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    Yes, many people will find themselves dropping the price eventually, as already mentioned it is surely much less stressful to just face reality early on in the selling process?

    But some won't and they'll get what they're looking for. I don't blame them. There's no science to valuing a property, and even then you still need to find that exact person who's looking for your exact property. There's overpricing, and then there's 'optimistic'.

    If my house had been on the market for 3 months and someone offered me £25k under, I would take it. If I couldn't buy what I wanted for that, I'd refuse and take my house off the market. So yes, there is always an element of having to be realistic.

    Buyers nearly always want to make an offer, and always love to think they've got a bargain. Nothing wrong with leaving some wiggle room. [wriggle? Even google ain't sure lol]

    Jx
    2023 wins: *must start comping again!*
  • PeterPanic
    PeterPanic Posts: 36 Forumite
    Iv just had an offer accepted at 20k below asking and it was priced ok at the start, but seller is desperate for a quick sale and the market is currently flat even in london commuter towns.

    Most of your interest should come in the first week as thats when it is at the top of searches and hit alerts. If you havent thrn its probably prived too highly

    I am due to complete on a property on Friday and I had an offer of £15k under asking accepted as they too were desperate to sell. This is actually £22k less than an identical house in the next street sold for 6 months ago.

    I knew they had found the house they wanted and were unable to proceed and I was lucky that they still had enough wriggle room to be able to afford it. Your offer is only ever going to be accepted if it still leaves them enough money to buy the house they want.
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