venders wont budge on price after crash

kunekune

What a loss for Australia!

(and is that the worst negative thanks to posts ratio I've ever seen??)

Davesnave

Going back to your original post, it sounds as if you are pretty keen on this property, or you wouldn't consider paying an 'out of date' price for it.

Many people on here will tell you to go and find another, as if houses are just another manufactured commodity, like cars. That might be true of many modern boxes, but it's certainly not the case with houses that possess extra features, be they period details, a huge plot, or whatever. You don't say what price bracket we're talking about here, but £15k is pretty small beer in the context of houses at say, £300k.

If I found what I was looking for at £15k over the odds, I don't think I'd lose sleep over it. I might not think it was 'fair,' rather like I didn't think the last offer on my house was fair, but I'd grit my teeth and look at my long term objective rather than my emotions. If you can afford this house, the only other thing that might give you pause for reflection, is why nobody else thought it was worth that much in a whole year of marketing.

nickyhutch

Maybe they don't really want to sell. I'll have to sell my house in a few years (part of divorce agreement) but I wont be in a rush as I don't really want to move.

Davesnave

sam1970 wrote: »

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

Yup, some real in-depth articles in those august journals 'The Sun' and 'Daily Express' today on another thread. Parliamentary Committee? Maybe get your hearing checked out...

beingjdc

sam1970 wrote: »

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

People keep saying this about 'crystal balls'. We might as well never give each other advice - in the bargains forum the shop might have sold out. In the savings forum the bank might go bust.

That the property crash is going to last longer than a lot of people expect is about as crystal-bally as seeing a seven month pregnant woman and saying she's going to have a baby in the next couple of months or so. You might be wrong, but it's very unlikely.

bubblesmoney

maybe they want to downsize and NEED a certain amount for their move and areuninformed apart from what their valuation said many moons ago. since they have lived there 35 i guess the are about to retire and arent keeping up with the news / internet etc. so they might be misinformed about the valuations and think u r trying to rip them off. believe me i have come across similar vendors mainly older people who depend just on a valuation made many moons ago as something written in stone and try to sell me a property at 199k while i am even wondering now whether something similar is actually worth buying at 135k which another vendor has agreed just a hundred metres away in same development. i infact gave the old lady some feedback about the valuations being horribly wrong via the EA but even 2m down the line the EA (who seemed convinced by my assessment and asking me to make even low offers, which i refused) doesnt seem to have convinced the old lady to drop her prices, she is bent on thinking that giving away her old sofa with the house is a bargain enough and was willing to give me her hot water outdoor pool (think costing upwards of 3k when brand new) as a sweetner. much as i liked the tub but i dont plan on flushing 50k down that.

how ever another EA seems to have taken on board my feedback and dropped their price by 15k withing 4days of me speaking to them about the valuations. but even then far away from my valuations still, so am looking away at other properties. so feedback via the EA or directly to the vendor might work. u have nothing to lose, but on the otherhand they might see better sense and sell at new valuation and it might work in ur favor. unless u try u never know. if it doesnt work, there are many more cherries to pick at the moment:j . best of luck

chickmug

As an EA I find that the vast majority of people want me to try for a figure higher than my valuation. Even when I am one of a number of agents all saying similar figures. Some say to me - we will ask whatever you think it is worth -- and the odd one or two each are so desparate to sell they shave a significant amount off my figure.

As someone has said there can be reasons why it suits one or other party not to get an early sale - acrimoneous splits.

Every year I admit to an odd seller who asks a silly price and I still try very hard and find I get a sale against all logic. This is usually only where the place is special with unique qualities.

linda4767

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

What are you talking about greedy ? property is struggling to sell and prices are dropping at the moment. I am so not foolish enough as to pay too much for a house that is simply not worth what the vendors are asking. Yes its a lovely property but at the end of the day its not worth what it is being sold for. Its the vendors that need to realise that if they are not prepared to be a little more flexible on the price they will sit there for another few years at least. I am not desperate to sell my property at the moment but if a buyer came along i would accept a lower bid for it just to be able to move on with my life and step back into peace again. So i am not the greedy one !

BTLNEWbie_3

dander wrote: »

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.

Over the years I have often put houses up for sale just to test the market to see if someone is stupid enough to pay over the odds.
However this will probably not be the case any more due to the fact and costs of HIP's etc.

boinging_2

OP - Am I right in saying that you have already offered on the property once and now want to drop your original offer?

I think it's a difficult one, yes it's surprising they haven't negotiated with you to get the sales, but on the flip side if it's the right house for you and you can make it a home then surely it's worth what you thought it was 3 months ago?