Cash Buyers

trulysaintly

Lotus-eater wrote: »

I hate to mess around, I can perfectly see why someone would make an offer on a house and then walk away if its not accepted.
She's just waiting until someone does accept that low offer and who can blame her?

Face it, its a buyers market, the bottom has fell out of housing sales, in a years time you may be praying for someone else to offer you that price.

You say you won't make any money out of it? Where does it say that you are not allowed to lose money on a house? It will be happening to lots of homeowners.

I think that perhaps I haven't explained clearly on the price issue. It's not a case of me not willing to drop our price!

If I accept an offer more than 5-6k below asking price, we can't move.

Why? Because my lender (also my former employer for over 6 years) now only offers mortgages with 10% deposit (and we're tied in for another 3 years at 5.29% - see, I knew what I was doing there!!).

In addition to that, agents fees and solicitors costs.

All of this is coming out of the equity from the property. I have no problem with someone offering £12k below asking price IF they make it clear it is their only offer.

What I disagree with is the way in which she has handled it - I was told once never to make an enemy out of an estate agent if you wanted them on side - at the moment it seems she's upsetting them as well.

Like I said before, I can sit tight - we have dropped over £10k already this year and I was willing to lose £17k on last years val to achieve a sale - but if not, we won't move.

I'm not being bullied into something because someone reads the Daily Mail and believes everything they read.

Snooze

trulysaintly wrote: »

I think that perhaps I haven't explained clearly on the price issue. It's not a case of me not willing to drop our price!

If I accept an offer more than 5-6k below asking price, we can't move.

Why? Because my lender (also my former employer for over 6 years) now only offers mortgages with 10% deposit (and we're tied in for another 3 years at 5.29% - see, I knew what I was doing there!!).

In addition to that, agents fees and solicitors costs.

All of this is coming out of the equity from the property. I have no problem with someone offering £12k below asking price IF they make it clear it is their only offer.

What I disagree with is the way in which she has handled it - I was told once never to make an enemy out of an estate agent if you wanted them on side - at the moment it seems she's upsetting them as well.

Like I said before, I can sit tight - we have dropped over £10k already this year and I was willing to lose £17k on last years val to achieve a sale - but if not, we won't move.

I'm not being bullied into something because someone reads the Daily Mail and believes everything they read.

Having just seen your signature about you (supposedly) being a mortgage adviser, all I can say is what a strange thread! You of all people should know how it works.

From your comments above all that remains to say is that you ain't gonna be moving any time soon with that outlook.

Rob

Microstar_2

trulysaintly wrote: »

Well done to you - I'd do the same in your position however unlike our viewer I would at least show some courtesy by communicating.

Except she hasn't got what she wanted - which overall makes the exercise a waste of her time and mine.

And with a young family I don't have the time or inclination to play games - if she valued the property at a different level, fine. Just don't lead people down the garden path (all 85ft of it) before trying it on.

If only life was as simple as buying a car eh?

House, car, doesn't matter - its all buying and selling and it is all a game. I rather enjoy it! I still don't think she's done anything at all wrong and I would be doing exactly the same in her position.
What surprises me is that you say you are a Mortgage Advisor, surely you know that this sort of thing is all part of the rich tapestry of buying and selling houses?
At the end of the day it may be that in the current market you can't afford to move into the sort of house you want, or you will have to play the same game as her and bid low on some potential purchases and see if anyone bites.

trulysaintly

Microstar wrote: »

House, car, doesn't matter - its all buying and selling and it is all a game. I rather enjoy it! I still don't think she's done anything at all wrong and I would be doing exactly the same in her position.
What surprises me is that you say you are a Mortgage Advisor, surely you know that this sort of thing is all part of the rich tapestry of buying and selling houses?
At the end of the day it may be that in the current market you can't afford to move into the sort of house you want, or you will have to play the same game as her and bid low on some potential purchases and see if anyone bites.

Yes, Mortgage Advisor for over 15 years - however that isn't what the thread was about.

I know the buying and selling ploys used, have even passed tips to clients when they have been negotiating...however....

Call me old fashioned but I always thought that a little communication goes a long way when you are negotiating......which was my issue with this person.

Heyho, that 2008 Britain I suppose...common courtesy out the window..

Incisor

trulysaintly wrote: »

What I disagree with is the way in which she has handled it - I was told once never to make an enemy out of an estate agent if you wanted them on side - at the moment it seems she's upsetting them as well.

It's all her problem. She hasn't handled it the best way, but it's not for you to be upset. You did after all entertain her direct approach. Personally I would have told her to go through my agent and only dealt with her after she had done that. All in the cause of not making an enemy of the agent.

lincroft1710

Possibly discourteous or more probably part of her cunning little plan - she just sits tight and waits - for YOU to make the next move! She's invited you to play in her game, but you have (sensibly) declined, so she moves on to next victim. To paraphrase what I said in my previous post someone will eventually play ball.

dander

My feeling is that an offer's an offer, it's not neccessarily an opening gambit in a haggle and you can't assume it is. If you regret an offer, there's never any guarantee that a buyer will come back with another offer.

You rejected her offer, because as you say, you can't move if you sell at that price - that's fair enough, but it's equally fair for her to decide that she doesn't want your house if she has to pay a penny over the price she offered.

Can't see any wrongdoing here.

trulysaintly

Incisor wrote: »

It's all her problem. She hasn't handled it the best way, but it's not for you to be upset. You did after all entertain her direct approach. Personally I would have told her to go through my agent and only dealt with her after she had done that. All in the cause of not making an enemy of the agent.

Thanks - what you have described is exactly what we did - after all, if she only knocked on the door after seeing the For Sale sign, we're obliged to pay the Agents anyway - why do the negotiating when we're paying them??

As soon as she asked the question regarding lowest price, we handed over to the agent for them to deal with her. She did try to bypass them by leaving her mobile number, but that wasn't the way I wanted to do things.

My biggest gripe was that she sold the 'sweet old lady looking for a home' routine during the whole viewing - while in the background was lurking a savvy buyer. Which is fine - I just feel it was a little underhand.

Stories about 'I can't stand sharing a kitchen much longer' etc etc - real sob stories designed to gain sympathy.

Even had the whole 'chased by my ex-husband' scenario as well - it was like an episode of Eastenders ! :rotfl:

trulysaintly

dander wrote: »

My feeling is that an offer's an offer, it's not neccessarily an opening gambit in a haggle and you can't assume it is. If you regret an offer, there's never any guarantee that a buyer will come back with another offer.

You rejected her offer, because as you say, you can't move if you sell at that price - that's fair enough, but it's equally fair for her to decide that she doesn't want your house if she has to pay a penny over the price she offered.

Can't see any wrongdoing here.

Agree wholeheartedly - however she hasn't said that she won't offer more or not - she is still being very guarded.

If we got told that - that is my only offer - ok. But, even now she cannot even be honest with the agent!

Yes or No - two simple words.

Bf109

Oh good grief! :rolleyes:

This is is called money saving expert. Theres a clue there in the bit that says "money" and "saving".

Now if someone buying - lets say a punnet of plums at the street market, asked what the lowest price was, then offered below it, everyone would be cheering and clapping a good money saver.

Expect now its buying a house, not plums. So if course the same money saving technique is greeted with derision by the lot of you saying the buyers is a "time waster", "not serious" etc etc..

Balls to that! Why is it that money saving is ok so long as its not money saving while buying house? Because when you buy a house, everyone seems to think you have to bend over, drop your keks and hand the seller a tub of vaseline.

Absolutely no way. When it comes to the buying and selling of houses, the buyer is the consumer. this site is about consumer rights! WHY DOES EVERYONE SLATE A CONSUMER FOR TRYING TO SAVE MONEY WHILE BUYING A HOUSE!? :mad: