Put in an offer on a house last night last night............

suisidevw

This thread has turned fruity. LOvely stuff.


Updates at 12pm.

bikerqueen

is the shower in the bedroom?

Gwhiz

lovethymini wrote: »

Good point well presented. I shall extend my explanation to add that I have never offered too far below an asking price.
If I think a house is unrealistically priced I wouldnt go and see it in the first place.

When we bought the house we are living in at the moment, we offered the asking price as that is the price we felt it was worth to us. Cant be bothered with games. Horses for courses I suppose!

In this market, if you are not embarrassed by the offer you make then it's probably not low enough!!

Never understood why people get upset/emotional over stuff like this. Although the building you want WILL be your home if you get it, this is nothing more than a business/financial transaction. No emotion needed - just a steady head and the ability not to get suckered in to paying over the odds. What you, the seller, believe the property is worth may/will be very different to what the purchaser thinks. It's all about finding somewhere in the middle where you both feel comfortable, if not necessarily happy!

alexlyne

lovethymini wrote: »

The first offer came from an older couple who offered 3.5k under the asking price. The second (young) couple offered almost 15k less which I felt cross at - they were trying their luck to get a "bargain", the house is realistically priced and very comparable so I declined it immediately(cheek!)

This is the problem in the current climate, the inexpereinced don't know what to do, they hear prices dropping and that it's a buyers market.. so go in with 'silly' offers, not based on how much a place is worth but based on the X% off whatever asking price is on the table.

We lost out on a house, because we wouldn't go up to the asking price, and lost out to another buyer. Hindsight tells us it was actually good value, even at the asking price (assuming there wasn't anything horrendously wrong that we weren't told about).:o

suisidevw

There IS a shower in the spare bedroom yes, also a bathroom next door

suisidevw

Just had a phone call from EA, a higher offer that the vendor will accept has been placed. We have met this so back to the vendor now. We are at our ceiling.

themanbearpig

suisidevw wrote: »

Just had a phone call from EA, a higher offer that the vendor will accept has been placed. We have met this so back to the vendor now. We are at our ceiling.

You've just been played. There isn't another offer. Its the oldest trick in the book.

themanbearpig

alexlyne wrote: »

This is the problem in the current climate, the inexpereinced don't know what to do, they hear prices dropping and that it's a buyers market.. so go in with 'silly' offers, not based on how much a place is worth but based on the X% off whatever asking price is on the table.

This statement makes absolutely no sense. The current economic climate should be encouraging people to barter for lower price, due to the fact in 6 months, the same property will be worth considerably less. This is why prices are falling.
Inexperienced negotiators won't value the property independently using auctions and land registry past sales, and will offer a random reduced figure. Experience buyers will do the above, and offer the bottom value of the market and walk away if they disagree.
The financially incompetent buyer will offer close to asking price, and then raise it every hour in desperation and lack of self control.

suisidevw

themanbearpig wrote: »

You've just been played. There isn't another offer. Its the oldest trick in the book.

Really? I had aphone call over lunch saying that the vendors have taken the other offer. How will 'the oldest trick in the book' work now? THey'll come back to us? :rolleyes:

poppysarah

suisidevw wrote: »

Really? I had aphone call over lunch saying that the vendors have taken the other offer. How will 'the oldest trick in the book' work now? THey'll come back to us? :rolleyes:

It'll fall through in about a week maybe.
Just long enough for you to sweat a bit and want to pay more.

Or are we all too cynical?

How long had the house been on the market at this price? If it's less than a few weeks then maybe - otherwise I'd guess it would have to be an incredible fluke that two people suddenly wanted this house.