Having a bit of a rant!

mazza245

I have to let off steam a bit as OH says if I mention houses again he will go mad so I hope you don't mind if I ask for comments. We have had an offer a little bit lower than we wanted (but not much) on our house (after only 5/6 weeks!) from a couple who have sold to someone who has no house to sell, so, good small chain, perfect! We have seen a house which we love and can picture getting on with all the work it needs and it will make a fantastic home for us. It's been for sale for 18 months but recently was reduced and put with another agent. TBH, we never noticed it when it was for sale before and it was only that it temporarily had two agent's boards up that made us notice it. It was also on at £80,000 less than the previous agent had it at (but of course, in the last 18 months, the property world has changed, hasn't it!?) We couldn't have afforded it or would have looked at it at the higher price anyway. We only found out the previous asking price yesterday in conversation with the agent.

Anyway, we of course, made the obligatory offer of £40,000 less hoping to come in under the higher stamp duty. This was refused, point blank. So, after a sleepless night I offered right up to the stamp duty. The agent simply said they won't accept that, without even asking them. So I immediately (I know, stupid, aren't I?) said could we pay up to the stamp duty with another £5000 in cash (say, for the carpets). The EA said that gets too complicated.

So, here I go again, I up another £10,000 which will mean us paying £8,000 in stamp duty but say I won't go any further and will walk away if they don't accept. We haven't heard from them since. They are probably making us stew but I don't think they are going to accept. They apparently are in no rush, have loads of viewings, have someone else slightly interested so just want to wait and get the full asking price or very near. The house is empty and I think these two people are just going to inherit what they get for the house so they aren't bothered or in a rush.

Actually, the house is probably worth a bit more but it wouldn't leave us enough to do all the work which is necessary and which anyone would have to do. I can't see anyone paying the asking price and how many people who have sold and have no chain are going to come along but they don't seem to appreciate that, they are being very stubborn. We treated buyers in that state as messiahs and welcomed them with open arms (which is why we've agreed a sale after such a short time probably!).

What do you think? Should we walk away even if they come back wanting another £10,000 (once you are over the stamp duty threshold, what difference does it make?) or should we pay what's necessary to get the house we like even if it leaves us short on funds for the work? On Rightmove today were more houses which are OK, not practically perfect like this one is, but OK. My OH is the world's worst negotiator, he thinks we should give them what they want, hates negotiating. Sorry for such a long one but I could do with sleeping some time tonight, I'm soooo tired......

Speckled_Egg

Yes, walk away if they don't accept your offer.

We are in a similar situation. Totally fell in love with a house which is just outside our reach. We put an offer in and it was refused point blank. House is on for £325k and vendor wants £320k minimum! In our opinion it is overpriced. 6 weeks and one offer makes me start to think I am right. Luckily for them they're not in a rush which is just as well!

The right house will come along then you'll be glad you didn't bankrupt yourself to get that one.

LandyAndy

If you pay what you think a property is worth to you within what you can afford then you have a deal you can be happy with.

The important thing is not to think that you have paid either:-

more than you wanted to,

or

more than you can afford.

If, as i hope, you are buying a home, then a couple of £k (that you can afford) either way shouldn't sway you. In the long run it won't spoil your enjoyment.

mazza245

It's not a couple of thousand though, is it? We have already upped £20,000 and they have made us sweat over the weekend (surprise, surprise!) and come back today to say no to the last offer. They "might consider if we go up another £10,000" !!!!! I'm worried (a) they might then want another £10,000 and that would be impossible and (b) if they are so awkward now, they might cause a lot more bother when we are going through the purchase and moving in, they could do anything just for annoyance purposes. This is gradually putting me off this house altogether which is saying something, as I had set my heart not only on this house but this area and this is an impressive house with position, position.....

Anyway, we are going to view another one in the same village tomorrow afternoon but I don't think it has the same oomph (also with the same EA's funnily enough!) and there are others to see, of course. I panicked a bit this morning when the surveyor for our purchase rang and wants to come tomorrow morning! They are not messing about, are they? At this rate we could be homeless in 3/4 weeks!

Just going to go on Rightmove again and suss out what else is out there. Any advice would be appreciated. It's funny how everyone has an opinion - oh, start low, oh, stand your ground, let them have a few days to think about it etc. etc. I would have said all that to someone else but when it's your future happiness that's concerned, it's a different matter!

tek-monkey

Offer what you would happily pay for it, no more. If its beyond your reach, you can't have it. Do you really want the house of your dreams, but financially struggle too much to enjoy it? I'd rather buy a cheaper property and ensure I can enjoy myself, could die in a freak yachting accident in ten years and all that extra financial stress would have been no benefit at all. Thats just me though!

Rockporkchop

mazza245 wrote: »

...how many people who have sold and have no chain are going to come along but they don't seem to appreciate that, they are being very stubborn.

You haven't actually sold and have no chain, you have accepted an offer from people with no chain - unfortunately there is a world of difference.

The sellers aren't really being stubborn. You are still only offering (correct me if I am wrong) £260k on a house that is up for £280k. If it was me, and I had just remarketed the property with a new agent at a much lower price, I would not accept an offer £20k below asking in the first few weeks. You yourself said it was probably worth more.

If you love the house and really want it, why not offer a final £10k more and be done with it. It's really not worth losing sleep over. Good luck.

Jomo

mazza245 wrote: »

It's not a couple of thousand though, is it? We have already upped £20,000 and they have made us sweat over the weekend (surprise, surprise!) and come back today to say no to the last offer. They "might consider if we go up another £10,000" !!!!! I'm worried (a) they might then want another £10,000 and that would be impossible and (b) if they are so awkward now, they might cause a lot more bother when we are going through the purchase and moving in, they could do anything just for annoyance purposes. This is gradually putting me off this house altogether which is saying something, as I had set my heart not only on this house but this area and this is an impressive house with position, position.....

Anyway, we are going to view another one in the same village tomorrow afternoon but I don't think it has the same oomph (also with the same EA's funnily enough!) and there are others to see, of course. I panicked a bit this morning when the surveyor for our purchase rang and wants to come tomorrow morning! They are not messing about, are they? At this rate we could be homeless in 3/4 weeks!

Just going to go on Rightmove again and suss out what else is out there. Any advice would be appreciated. It's funny how everyone has an opinion - oh, start low, oh, stand your ground, let them have a few days to think about it etc. etc. I would have said all that to someone else but when it's your future happiness that's concerned, it's a different matter!

At the end of the day it is their house and are under no obligation to sell, even one grand under the asking price!

Cheeky offers are a good thing generally but sometimes I think you have to be careful not to go in too low otherwise you might upset the seller and this will make future negotiations more difficult.

mlz1413

Walk away, a) your not sleeping and b) you can't afford it.

Doing up houses takes a lot of cash, more than you think and its the only time to realisticly replacing flooring, kitchens, bathrooms etc - so do you really want to end up with a cheap £250 bathroom suite because you have no cash left to splash out on a big bath and lovely tiles?

Also you will be a stronger position in 3 - 4 weeks time as your surveys will be done and dates for exchange discussed, so is this house is still for sale then they may well accept the stamp duty price and you will happier with the deal. Otherwise go into rented and be a strong position to barter as a cash buyer.

mazza245

Thanks, Jomo and all of you for your replies. You are right that we might have gone in too low, trying to be clever and put their backs up. Anyway, waited until this morning (no sleep again!) and offered 265 which the agent said she just knew they wouldn't accept anything less than 270 but that she thought they would definitely accept that amount. So I said OK, 270 but they should take it off the market and I would like to look round it again and ask some questions obviously. I have waited all day and not heard back from them! Either they genuinely are difficult to get hold of or they are messing us about.

Been on Rightmove and there are loads already around with lovely kitchens, bathrooms, even conservatories, all done and ready for about £290 so we have a list to go and look at tomorrow if they don't accept. It is, however, the nicest house we have seen in a lovely position in a good village so it still has the edge. Sorry, miz1413 but I couldn't stand the stress of waiting 3 - 4 weeks :eek: as we might end up panicking and buying just anything and it being the wrong thing.