Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • phoebe1989seb
    • By phoebe1989seb 6th Nov 17, 9:33 AM
    • 3,152Posts
    • 6,459Thanks
    phoebe1989seb
    Asking price offer - vendor now wanting more!
    • #1
    • 6th Nov 17, 9:33 AM
    Asking price offer - vendor now wanting more! 6th Nov 17 at 9:33 AM
    Hi guys,

    Wondering what your thoughts are on the following, please?

    We viewed a property within two days of it coming onto the market. It was not only very cheap, but ticked most of our boxes so we made an asking price offer.

    The EA informed us that the vendors - a deceased estate, so the executors - wanted to allow the other viewings booked to go ahead before they made a decision. We knew there was lots of interest as there were viewings before ours and over the weekend.

    Today we had a call saying the vendors had decided to increase the asking price by £35k based on the amount of interest so far. Apparently no-one else has offered.

    We are probably being played, but really want the property so are inclined to increase our offer by £20k on the understanding it is removed from the property portals and no further viewings take place.

    Fwiw, we are SSTC and won't be getting a mortgage.

    Your thoughts please......

    Thanks in advance.
    Paid off mortgage early - mortgage-free since age 40 (2007)

    Over £40,000 mis-sold PPI reclaimed
Page 5
    • m0bov
    • By m0bov 6th Dec 17, 4:07 PM
    • 1,147 Posts
    • 766 Thanks
    m0bov
    Just tell them your offer is full and final and leave it at that. Start looking elsewhere.
    • cloo
    • By cloo 6th Dec 17, 4:43 PM
    • 926 Posts
    • 815 Thanks
    cloo
    Yeah, hold out. I remember there was one place we were going to look at, didn't get round to and by the time we did the owner had decided to up the price by 50k because of the 'interest'. Was still on the market months later.
    • Davesnave
    • By Davesnave 6th Dec 17, 7:47 PM
    • 23,692 Posts
    • 89,664 Thanks
    Davesnave
    Awww! I just popped in here to see how things were progressing.....

    Nearly PM'd you the other night, but lost it somewhere when I was adding links Now I wonder if it was just as well I did!

    Will try to PM again soon, but there's a huge curry heading my way to top-off a day of chain-sawing and bonfire, so the odds are against it tonight....
    'A society grows great when old men plant trees whose shade they'll never sit in.'
    • bobobski
    • By bobobski 6th Dec 17, 10:42 PM
    • 676 Posts
    • 1,535 Thanks
    bobobski
    Just to add my naive little two cents here: although I completely sympathise with your "enough is enough" approach, it's highly unlikely that the process of buying will even enter your mind once you've got your new place. This is all temporary. As other more experienced and wiser people have said, just grin and bear it. If it's not meant to be then so be it, but if you withdraw you'll never know if that was the case and you may regret it for a really long time. Good luck
    #18: Save 12k in 2017: £11,385.86 / £12,000 (94.8%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £21,465.15 / £60,000 (35.7%) | Emergency fund by 31/12/2020: £1,663.13 / £5,000 (33.2%)
    • glasgowdan
    • By glasgowdan 7th Dec 17, 8:23 AM
    • 2,641 Posts
    • 2,948 Thanks
    glasgowdan
    I'm sure you'll be sitting here in 3 months with a totally different perspective, with possibly a totally different home in mind, fingers crossed.

    5 pages and the OP hasn't mentioned the word 'Period' once, a record!
    • Contessa
    • By Contessa 7th Dec 17, 8:37 PM
    • 977 Posts
    • 1,391 Thanks
    Contessa
    The OP isn't a FTB but has bought and sold several houses.

    I trust her to know what she's doing!
    • Lysimache
    • By Lysimache 9th Dec 17, 2:56 PM
    • 91 Posts
    • 38 Thanks
    Lysimache
    With probate property part of the research is get the will and assess as best you can how motivated the relevant parties are.
    Originally posted by getmore4less
    How can a buyer get hold of a will?
    • getmore4less
    • By getmore4less 9th Dec 17, 3:26 PM
    • 30,815 Posts
    • 18,422 Thanks
    getmore4less
    How can a buyer get hold of a will?
    Originally posted by Lysimache
    It is a public document once they have the grant.
    • phoebe1989seb
    • By phoebe1989seb 11th Dec 17, 8:57 PM
    • 3,152 Posts
    • 6,459 Thanks
    phoebe1989seb
    Last update.....
    So, today at midday was the deadline for best and final offers.

    Whilst keeping out of the snow over the weekend, we spent many hours deliberating how to proceed/looking over other properties we had previously ruled out for various reasons.

    Having already increased our original offer by £35k, we decided not to go any higher so we re-submitted our previous offer at 11.30am this morning.

    Considering it took the vendors several weeks to choose which offer to accept originally, it was less than half an hour before they (via their EA) let us know we were not the winning bidder.

    When the EA called, he let us know the property went for 'considerably more' than we had offered.

    Hey-ho, it obviously wasn't meant to be

    In other news, our weekend perusals have identified a property we had not bothered to view as it's in a completely different area. However, it ticks so many boxes on our wish list we have decided to investigate further. It has far more potential and is closer to the coast
    Last edited by phoebe1989seb; 11-12-2017 at 9:02 PM.
    Paid off mortgage early - mortgage-free since age 40 (2007)

    Over £40,000 mis-sold PPI reclaimed
    • deannatrois
    • By deannatrois 11th Dec 17, 9:44 PM
    • 4,915 Posts
    • 6,882 Thanks
    deannatrois
    So many times on here we have people devastated at losing a house.., and then later they find an even better one. I'm sure it must go the opposite way sometimes but I assume if you keep looking (and as the OP has done, be prepared to widen options) something you like just has to come up.

    And quite often the higher offer the vendors accepted falls through for some reason or other. Karma happens more often than you think!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,121Posts Today

6,413Users online

Martin's Twitter