venders wont budge on price after crash

PasturesNew

I know of a house that's been on the market for 3 years and still hasn't dropped by a penny .... and their neighbour 4 doors along (different style of house) that's been for sale for nearly as long and is still the same price.

Meanwhile, two of the three houses between them went on the market and sold - and four houses opposite them went on the market and sold (one of them mine).

People want what they want ... and you can't change that.

nrsql

If it's been on the market for a year and they haven't dropped the price then they obviously aren't in a hurry to sell.
Sounds like they've decided how much they want to get to make it worth moving otherwise they'll stay put.

Quite reasonable and just because it doesn't fit in with your plans doesn't mean they're doing anything wrong.
The price is a nego6tiation - you can't expect a seller to drop the price just because it's what you want to pay. And your surveyor's opinion doesn't mean much.

guppy

linda4767 wrote: »

I just really cant understand some people! they have lived there for 35 years and paid a pittence for it, so it owes them nothing! I am a little unsure if i should up my offer or tell them to shove off ?

If they've lived there for 35 years maybe they're not worried about hanging around for a few months longer, especially if they have no mortgage.

You sound far more desperate to buy their house than they are to sell it, and they probably realise this since you've come back again for another go. Therefore it sounds like they have the stronger negotiating position here.

That said, I wouldn't increase my offer in the current market, I'd just start looking for more desperate sellers.

Gangstabird

Step away. You will be able to find a much bigger & better property in 6 months.

guppy

nrsql wrote: »

And your surveyor's opinion doesn't mean much.

The surveyor is looking at what the market will pay, and since no has bought the house yet, his estimate may well be about right. Of course this doesn't obligate the vendor to actually sell for this amount.

dander

sam1970 wrote: »

I just cant understand how you think !!! you are so greedy that you want people to give you their house for less than what they wanted...after all they did not ask you to buy the house ...you wanted to buy it

It's not greed at all. This is a falling market, the worth of houses is dropping. The house is worth less now than it was three months ago. It would be foolish of a purchaser to pay over the current market price for a property which may well see even more falls in the future.

And I think you'll find they DID ask the original poster to buy it! Unless they had a very curious motive for advertising it with an estate agent.

ManAtHome

sam1970 wrote: »

wao...can you tell me where did you buy your crystal ball from?:D

Probably a different shop from the "experts" who've moved from +5%, up a bit, no growth, down 2%, down 5%, down single-digit, down 15% (all in less than a year)...

neverdespairgirl

sam1970 wrote: »

I just cant understand how you think !!! you are so greedy that you want people to give you their house for less than what they wanted...after all they did not ask you to buy the house ...you wanted to buy it

greedy? I think the OP is still planning to hand over a very large wodge of cash, but doesn't want to overpay.

I'm just guessing, from this post, but you are probably also trying to sell at the moment, and are over priced....

baileysbattlebus

There seem to be five main types of vendor, those who:

1. Need to sell and are able and willing to negotiate their price
2. Need to sell and are not able to negotiate their price
3. Want to sell and are able and willing to negotiate their price
4. Want to sell and are not willing to negotiate their price
5. Might want to sell, are on the market to test the water, if a good enough offer comes along, might move or might not

You seem to have number 4 or 5, probably not the best type of vendor to be dealing with at the moment, what you need is vendor type 1, needs to sell and is in a position to and willing to negotiate.

There are plenty of houses out there, if you aren't willing to pay what they want, go and look elsewhere. In one of the posts on here someone said what the ratio of sellers to buyers was - can't remember what it was though, but I remember it being very high.

You need to remember that not everyone reads these boards or really takes a lot of interest in the news, be it on TV or in newspapers, not everyone has access to or can use the internet.

Your vendor will have been given a valuation by their estate agent and that will be the figure that they have in their mind, the EA said it's worth £xxxx, so it must be worth £xxxx, you come along and offer £yyyy and they think you are taking the michael.

I'm not disagreeing with peoples views on here (God Forbid), but it isn't always greed that motivates people, sometimes it's ignorance (I know there is no excuse for ignorance, but there is plenty of it about) and fear of being ripped off. Which is probably what your vendors think you are trying to do to them.

Unless their EA can persuade them that your offer is actually a good one, I would move on.

sam1970

neverdespairgirl wrote: »

greedy? I think the OP is still planning to hand over a very large wodge of cash, but doesn't want to overpay.

I'm just guessing, from this post, but you are probably also trying to sell at the moment, and are over priced....

i was planning to sell at the begining of this year but i did not even put the house i the market when i found that i will be swamped by opportunistics trying to buy my house on the cheap...i was planning to move to australia but now decided to postpone the move for a while...i have no problem paying my mortgage so i am not desperate to sell as you think.

have you heard the news on bbc today that the house prices will rise by 25% in the next 5 years (according to parlimentary committee)...dont tell me it is rumors as i think the same of the predictions that prices will fall further:D