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  • FIRST POST
    • RedfordML
    • By RedfordML 6th Oct 17, 3:46 PM
    • 696Posts
    • 378Thanks
    RedfordML
    Accepted offer on ours, got a "firm no" on first bid we made...
    • #1
    • 6th Oct 17, 3:46 PM
    Accepted offer on ours, got a "firm no" on first bid we made... 6th Oct 17 at 3:46 PM
    ...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
    Last edited by RedfordML; 06-10-2017 at 3:48 PM.
Page 1
    • Surrey_EA
    • By Surrey_EA 6th Oct 17, 3:49 PM
    • 1,145 Posts
    • 1,346 Thanks
    Surrey_EA
    • #2
    • 6th Oct 17, 3:49 PM
    • #2
    • 6th Oct 17, 3:49 PM
    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
    • By spadoosh 6th Oct 17, 3:54 PM
    • 4,370 Posts
    • 5,701 Thanks
    spadoosh
    • #3
    • 6th Oct 17, 3:54 PM
    • #3
    • 6th Oct 17, 3:54 PM
    Let them sweat.

    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.
    Last edited by spadoosh; 06-10-2017 at 3:58 PM.
    Don't be angry!
    • toc25
    • By toc25 6th Oct 17, 4:23 PM
    • 224 Posts
    • 222 Thanks
    toc25
    • #4
    • 6th Oct 17, 4:23 PM
    • #4
    • 6th Oct 17, 4:23 PM
    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
    • By RedfordML 6th Oct 17, 4:24 PM
    • 696 Posts
    • 378 Thanks
    RedfordML
    • #5
    • 6th Oct 17, 4:24 PM
    • #5
    • 6th Oct 17, 4:24 PM
    Haha. Surprisingly very calm.

    Really, all I really wanted & should have asked is do you let the agent guide? Sounds like I should..,
    • spadoosh
    • By spadoosh 6th Oct 17, 4:30 PM
    • 4,370 Posts
    • 5,701 Thanks
    spadoosh
    • #6
    • 6th Oct 17, 4:30 PM
    • #6
    • 6th Oct 17, 4:30 PM
    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.
    Don't be angry!
    • gycraig
    • By gycraig 6th Oct 17, 5:20 PM
    • 388 Posts
    • 274 Thanks
    gycraig
    • #7
    • 6th Oct 17, 5:20 PM
    • #7
    • 6th Oct 17, 5:20 PM
    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
    • By Scotbot 6th Oct 17, 5:30 PM
    • 72 Posts
    • 39 Thanks
    Scotbot
    • #8
    • 6th Oct 17, 5:30 PM
    • #8
    • 6th Oct 17, 5:30 PM
    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.
    Originally posted by toc25
    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
    Last edited by Scotbot; 06-10-2017 at 5:33 PM.
    • comeandgo
    • By comeandgo 6th Oct 17, 5:43 PM
    • 1,838 Posts
    • 2,460 Thanks
    comeandgo
    • #9
    • 6th Oct 17, 5:43 PM
    • #9
    • 6th Oct 17, 5:43 PM
    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
    • By Jenniefour 6th Oct 17, 6:20 PM
    • 1,159 Posts
    • 1,133 Thanks
    Jenniefour
    Can't imagine why you think they will be sweating it out over the weekend, they've said "no" haven't they?
    • chappers
    • By chappers 6th Oct 17, 6:27 PM
    • 2,676 Posts
    • 1,518 Thanks
    chappers
    Haha. Surprisingly very calm.

    Really, all I really wanted & should have asked is do you let the agent guide? Sounds like I should..,
    Originally posted by RedfordML
    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.
    • Tiners
    • By Tiners 6th Oct 17, 6:27 PM
    • 223 Posts
    • 220 Thanks
    Tiners
    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.
    Originally posted by comeandgo

    In the same vein (and a more likely situation in the current market)... I wouldn't waste my time viewing or making a realistic offer on a stupidly overpriced house as it's obvious the vendors are just greedy and/or deluded, probably just kite flyers who aren't really serious about actually wanting to sell.
    • chappers
    • By chappers 6th Oct 17, 6:31 PM
    • 2,676 Posts
    • 1,518 Thanks
    chappers
    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.
    Originally posted by comeandgo
    sounds a bit daft if you ask me, cutting off your nose to spite your face. your house might be on their list as "OK if we can get it cheap" rather than the house they would break the bank for. I have bought and sold a few houses over the years admittedly as BTL or developments, but there are some that you would go to the asking price or above for and some only at a certain price.
    • Beaker99
    • By Beaker99 7th Oct 17, 7:05 AM
    • 199 Posts
    • 101 Thanks
    Beaker99
    If I'm going in low, I'll often ask the estate agent to contact the vendors first (prior to viewing) to ask if they would entertain the offer. There's no point wasting everyone's time with a viewing if I can't afford asking price. The agents and vendors seem to like this approach - although oddly some agents still push you to view anyway.
    • seven-day-weekend
    • By seven-day-weekend 7th Oct 17, 7:58 AM
    • 29,483 Posts
    • 55,134 Thanks
    seven-day-weekend
    We were offered, and accepted, £143k on our £149,995 asking price when we sold. We offered, and were accepted, £138k on an asking price of £145k on our purchase. Same difference.

    With our Spanish house we accepted an offer WAY below the asking price because it meant a) we could sell up as opposed to it staying on the market and b) we broke even on the price after living in it for eight years.
    To love someone is to learn the song in their heart and to sing it to them when they have forgotten it
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    • NaughtiusMaximus
    • By NaughtiusMaximus 7th Oct 17, 9:52 AM
    • 305 Posts
    • 713 Thanks
    NaughtiusMaximus
    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.
    Originally posted by comeandgo
    sounds a bit daft if you ask me, cutting off your nose to spite your face. your house might be on their list as "OK if we can get it cheap" rather than the house they would break the bank for. I have bought and sold a few houses over the years admittedly as BTL or developments, but there are some that you would go to the asking price or above for and some only at a certain price.
    Originally posted by chappers
    I agree with the first poster. We've recently sold our property, it was listed for 90k with the intention of selling for at least 85 (we wanted a fast sale, pretty confident we could have got the 90 if we'd hung on). First viewer we had offered a derisory 70k along with BS reasons to justify the offer and was given a straight no (viewings were handled by the EA, we weren't present), we didn't waste our time making a counter offer. The property was sold to the second viewer for 85k a few days later.
    • Debtslayer
    • By Debtslayer 7th Oct 17, 11:21 AM
    • 390 Posts
    • 544 Thanks
    Debtslayer
    ...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
    Originally posted by RedfordML
    I don't think sellers will be sweating over the weekend, you've made an offer 17k under asking and it's a definite no.
    How would you have felt if the offer made on yours was that much lower?
    It depends how much sellers want to sell. They may be in a rush to sell or be prepared to hold out for asking price.
    Ask the agent how much sellers are looking to achieve, they may tell you or they may just say close to asking price
    It will all boil down to how much you want the property and how much you're willing to pay for it. How much have other properties sold for in that area?
    You say the property sold for 4K less than your offer last year but have owners done any improvements to the property in that time?
    Current Mortgage 01.09.17 £113,949.32
    MFW Start Mortgage: £114,794.64
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    MFW No 124
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