Offer near asking price - declined!!

poppysocks1

Have put in lots of offers on a property - all declined even though latest offer was £5k under asking price. As ftb's thought we would be in a good position to proceed and the vendors would be happy to sell but not the case.

Not sure whether to keep raising offer or look for something else... its disappointing.

Would really welcome any advice.

Thank you very much!

laura_ketley

When viewing did you see anything in there you liked? (e.g. Shed, Patio Furniture, etc) If so, if you decided to pay the asking price you could ask for that to be thrown in too. My grandparents when selling their home had to include the family piano just to get near the asking price!!

lincroft1710

How much do you really want the house?
Can you afford/will mortgage stretch to extra £5K?
Is it worth the extra £5K?

If the answers to all 3 questions are yes, you might as well offer the extra £5K, vendors are either stupid - not accepting your offer, or very clever - keep getting you to up your offer to asking price.

1echidna

poppysocks1 wrote: »

Have put in lots of offers on a property - all declined even though latest offer was £5k under asking price. As ftb's thought we would be in a good position to proceed and the vendors would be happy to sell but not the case.

Not sure whether to keep raising offer or look for something else... its disappointing.

Would really welcome any advice.

Thank you very much!

Perhaps let the offer lie for a week or two. Do you know whether there are other offers on the table?

G_M

How much do you want the house? Is it fairly or over priced. Do you think the vendors are being realistic about their selling prospects, or not serious about selling, or playing games?
Why not repeat your offer, make it clear you are a ftb (with funding ready & no chain) and make it clear the offer is good for 48 hours only and conditional on them ceasing marketing after that if they accept.

If that dowsn't work, you'll have to either raise your offer if you really want the house, or walk away.

walking away is hard once you've set your heart on a home, but in the long term often best. It's a buyers market and there are other houses out there

carlsberggal

I agree with all the above posts, being a negotiator myself I would be urging my vendors to accept your offer especially in this market.

poppysocks1

Thanks = to answer all your questions -

1. Really like the house as it has a garden and it bigger than flat we are renting.

2. We keep saying to the estate agent we are ftb, and not in chain etc, and I cant understand why our offer was turned down.

3. There are more viewings this week including some second viewings, but no other offers as yet as far as we are aware.

4. We could stretch an extra £5k but can tell it needs rewiring so would need to pay out £2500 for that so on principle its a bit frustrating.

5. Could possibly find something to ask them to leave, you never know.

6. There are students as neighbours, so slight doubt there.

Thanks all.

ILW

poppysocks1 wrote: »

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6. There are students as neighbours, so slight doubt there.

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Run a mile.

superfran_uk

How long has it been on the market? And what are 'lots' of offers?

If it has been on for a very short time, they might be holding out for more (possibly misguided...but common).

If you have put in a few offers they may be expecting you to go back with another. If this is the case, I would make them sweat for a week, see if they come back to you. We did this - they found somewhere they wanted to move to and so came back offering it at 3k under what we'd offered in the end! - and in the meantime found a much better place to buy.

poppysocks1

Its been on the market 2 weeks.

pawpurrs

How many offers is lots?