Are we being greedy?

moneysaver

The asking price has nothing to do with it. How much is the house actually worth?

If it is worth what you are asking then fair enough, wait for a higher offer. If not then consider an offer that financially would allow you to move.

Sellers are putting houses on the market with prices that suit them (how much they paid for it & money spent on it etc) It might not bare any relation to the actual value, or taking into consideration any money the buyer would have to spend on it to bring it up to scratch.

I am a cash buyer & made an offer 2 weeks ago on a property, it was rejected, so I increased it, but it was still rejected. The seller is under the impression his house is worth £xxx amount & is trying to stick to his guns. I have walked away & I am viewing other properties. If the seller comes back to me I would be willing to increase slightly.


Moneysaver

kinglewis

I agree with Mr Cow..

Once you have accepted an offer you can knock the next person down who is selling. Swings and round a bouts really when you look at it like that.

Gwhiz

bmunky7 wrote: »

I don't see how failing to sell and then regretting rejecting an offer makes someone greedy. Surely it would only be greedy if the OP thought the offer they have is about right but want still want to hold out for more. Sounds to me like the OP isn't sure if their offer is about right.

My point was that's how you'll view your own actions. As in "I wish I had not been so greedy"!

Milliewilly

moneysaver wrote: »

The asking price has nothing to do with it. How much is the house actually worth?

If it is worth what you are asking then fair enough, wait for a higher offer. If not then consider an offer that financially would allow you to move.

Sellers are putting houses on the market with prices that suit them (how much they paid for it & money spent on it etc) It might not bare any relation to the actual value, or taking into consideration any money the buyer would have to spend on it to bring it up to scratch.

I am a cash buyer & made an offer 2 weeks ago on a property, it was rejected, so I increased it, but it was still rejected. The seller is under the impression his house is worth £xxx amount & is trying to stick to his guns. I have walked away & I am viewing other properties. If the seller comes back to me I would be willing to increase slightly.


Moneysaver

Not everyone is doing that.

The problem is some buyers are determined to get a bargain and are making offers that the sellers simply will not accept. For the sale to take place both parties have to agree so as a buyer it could always be at the back of your mind 'I paid too much' unless you bid up in £1 increments till the seller agrees. If the buyer wants to be certain they are paying the right price then shell out for a valuation survey (if the seller will allow it).

Emy1501

Whats your agents advice? You are paying them lots of money to sell your house unless you are selling private. They should know whats happening in your local market and therefore be able to advise what the property is worth and whether the offer is reasonable.

If they are advising you to accept then you are probably being greedy if you are rejecting. if they are advising you to reject then its your call regarding the matter.

If you are getting lots of viewings and are in no hurry then it maybe worth rejecting. As has been said though winter is here and therefore buyers will be thin on the ground over the next few months.

TCB1

Thank you all, great to hear other points of view.

I went back to the EA and said that we really needed closer to the £280k in order to move into the area we are looking at.

He went back to the lady and she has asked about the upper chain as she is apparently getting pressure from her buyer.

Feeling nervous that this could fall apart even if we do accept her offer as we haven't even second viewed anywhere yet and are not sure if there is anything to buy.

theartfullodger

But you were being greedy, right??

Cheers!

Lodger

TCB1

I don't like to think so, it's hard to be objective about your home........

lellow_lorry

As a buyer looking at the moment an offer of 275k would be a good one as its nearly 97% of the asking price.Also this may be every last penny the buyer can afford. This time of year is not the time to sell usually and offers do tend to come in lower, however it is down to what you need to progress. If its not enough then sit it out, but bear in mind the next offer could be 265k and you don't want to be chasing a market that normally falls over the next couple of months. Most agents factor in a percentage to the asking price eg 210k to achieve 205k and most buyers know this.
.As for seeing if they will meet halfway.277k if your going to say no to the final offer of 275k then you have nothing to lose. Good luck

Manual_Reversion

I would give very serious consideration to renting. With low number of transactions and decent properties available to buy I think the chances of you finding somewhere you're happy with in the timescale dictated by your current chain are going to be small. If you can make the mental shift to rent, you eliminate (almost) half of the constraints. It will mean you have to move twice though, no fun with children I'd imagine, and if our recent experience is anything to go by then finding decent rented family accommodation is nigh on impossible.