We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Who is fibbing?
jalowes2002
Posts: 46 Forumite
Hi all
A builder friend of ours has rennovated and has a house on the market. Its on for £349,950 (was dropped from £400,000 before xmas). We like the house and are in a position to be cash buyers while we sell our house (were very lucky to have a bridging loan from parents).
We offered directly to our builder friend £320,000 which was turned down, then 327,000 which was also rejected( we knew it would be but thought we'd be cheeky). 10 days ago, he approached my other half and said they had had a cash offer of £335,000. DP said forget it as didnt want to get in a bidding war. We were dubious this cash offer exsisted so at the weekend we put in a direct offer with the EA at £332000 and left it at that. Builder and EA said offer was higher that other people had offered.
So the EA phoned this morning and said that as far as they were aware the other bidder is not a cash buyer but that the builder had been led to believe they are. So my thoughts are either the builder if fibbing to get the price they want or the other people are being misleading.
Do we just hold our nerve? We cant go over £335000. Thanks
A builder friend of ours has rennovated and has a house on the market. Its on for £349,950 (was dropped from £400,000 before xmas). We like the house and are in a position to be cash buyers while we sell our house (were very lucky to have a bridging loan from parents).
We offered directly to our builder friend £320,000 which was turned down, then 327,000 which was also rejected( we knew it would be but thought we'd be cheeky). 10 days ago, he approached my other half and said they had had a cash offer of £335,000. DP said forget it as didnt want to get in a bidding war. We were dubious this cash offer exsisted so at the weekend we put in a direct offer with the EA at £332000 and left it at that. Builder and EA said offer was higher that other people had offered.
So the EA phoned this morning and said that as far as they were aware the other bidder is not a cash buyer but that the builder had been led to believe they are. So my thoughts are either the builder if fibbing to get the price they want or the other people are being misleading.
Do we just hold our nerve? We cant go over £335000. Thanks
0
Comments
-
jalowes2002 wrote: »A builder friend
Well I'd hate to meet your enemies then :rotfl:
My opinion would be to hold your nerve.Pants0 -
First, this sort of thing is quite common. Tactics to get you to up your offer.
Second, sounds like the builder is not quite the friend you think. A friend would not use this tactic!
Decide the max you are willing to pay, offer that or a bit less, and do not be tempted to go above it.
End of the day, doesn't really matter who's fibbing, just what you end up paying and whether you're happy with the price.
But write off the 'friend'.0 -
Honestly he is a mate- my DP has known him for over 20 years but he is hungry and probably a bit greedy! I guess when that amount of money is concerned, you cant tryst anyone
0 -
It's quite common for someone to say they're a cash buyer when they're not and then "decide" at a much later date that they do need a mortgage after all. It maybe that your mate isn't lying, but that the other bidder is telling porkies0
-
jalowes2002 wrote: »Honestly he is a mate- my DP has known him for over 20 years but he is hungry and probably a bit greedy! I guess when that amount of money is concerned, you cant tryst anyone
He's greedy but you're cheeky putting on a low offer! Horses and all that.
If he's a MATE why not have an honest sit down discussion as to what he wants and what you are willing to offer. Seems the grown up thing to do!0 -
An aside.
Don't borrow your parent's life savings as a "bridging loan".
Sell your house first.
There's a reason it's not sold?0 -
poppysarah wrote: »An aside.
Don't borrow your parent's life savings as a "bridging loan".
Sell your house first.
There's a reason it's not sold?
But then they are not cash buyers at this point in time and not in a strong position.0 -
But the bank of mum and dad stays afloat. 0
-
Personally, I'd reduce my offer back to £320k cash, on the nail. Take it or leave it - 48 hours to decide. Then I'd hold my breath and see what happens. It's business, after all.No reliance should be placed on the above! Absolutely none, do you hear?0
-
Oh, and to back that up, you'd have to start looking around at other places pretty sharply.No reliance should be placed on the above! Absolutely none, do you hear?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards