Viewers hinting at reducing asking price due to wanting to make changes

Running_Horse

Nearly all first offers are rejected. If they don't come back with an improved offer, then they didn't really want it anyway, especially after such a low first offer. And with all the background dodginess, you are probably better off.

Debt_Free_Chick

Julieg wrote: »

Hi, Thanks for replying. The EA went back to them to see if they would increase the offer (even if it was just another £5k) but they said 'no' as they wanted to change the windows.

Replacing the windows isn't going to cost £45k!!!!

moneysaver

Julieg wrote: »

The house has been on the market for 17 months, with a starting price of £465, then £440 and now £400.

Your asking price has nothing to do with it. What has the house been valued at by a surveyor?

A lot of sellers are under the illusion that their house is worth more than it actually is. I know you have reduced it a couple of times, but it might have been overpriced to start with.

It looks a lovely house & very nice area, so why has it not sold? Most houses will sell if they are priced right.



Moneysaver

HellsGranny

Good Grief, there is no way replaceing doors and windows would cost £45k! I am about to have doors, windows, soffits bargeboards and guttering done by a large national chain, and they have quoted £16.5k, including labour!

They are having a giraffe! (at your expense!)

If your buyers want to make changes, they do it at their own expense, after they have bought! Blooming cheeky so and sos!

Cheers, HG

ffacoffipawb

WestonDave wrote: »

Only incentive for them to pay something in cash is to lower the listed selling price so when its declared to their mortgage lender, their deposit would be a higher percentage.

You need to inflate the price for that to work.

EG Buying a £400k house and you have £100k cash (plus enough for costs).

If no "bung", you have a 25% deposit.

If you give a £50k bung, then your remining £50k is a smaller percentage of £350k than 25% - it has dropped to under 15%.

chodges84

HellsGranny wrote: »

Good Grief, there is no way replaceing doors and windows would cost £45k! I am about to have doors, windows, soffits bargeboards and guttering done by a large national chain, and they have quoted £16.5k, including labour!

They are having a giraffe! (at your expense!)

If your buyers want to make changes, they do it at their own expense, after they have bought! Blooming cheeky so and sos!

Cheers, HG

Debt_Free_Chick wrote: »

Replacing the windows isn't going to cost £45k!!!!

The cost of replacing the windows is IRRELEVANT. If the buyer only thinks the house is worth £355k, then that's all they will pay. You can't force them to pay more just because the seller would like some more money.

If the house has been on the market for 17 months and had then many price reductions and only 1 offer (45k below current asking), then i'm willing to bet that the house is overpriced, regardless of whether it needs new windows or not.

Strapped

I think everyone is missing the point tbh. The fact that they want to make changes to the house means that the house is worth less to them. Nothing "cheeky" about it. After 17 months on the market, the OP needs to decide whether she wants to take the drop or hold out for someone who is happy with the house as is, and is willing to pay more for it. I have no idea whether £355k is a reasonable offer as I don't know the market.

Debt_Free_Chick

chodges84 wrote: »

The cost of replacing the windows is IRRELEVANT. If the buyer only thinks the house is worth £355k, then that's all they will pay. You can't force them to pay more just because the seller would like some more money.

I agree. But in terms of dealing with the seller, if the seller claims that the price needs to be reduced (only) to reflect the cost of replacing the windows, then a £45k reduction is OTT ....

wuckfit

Julieg wrote: »

The viewers got back to the estate agent with an offer of £355k (asking price £400k). I told the EA to see if they would go any higher, ie something between the two and suggested £380k. They won't go any higher as they wanted to replace the windows, which although wood are in good condition. I am suprised tbh as they seemed really keen and talked as if they had decided to have it. Also as they are staying with family and have nothing to sell they asked if they could move in quickly and I said that I would move out to suit them rather than make them wait until I'd found a property to move into.

Which now brings me to the decision about whether I accept the offer. My ex-husband (who's still with me here in the matrimonial home) wont give an opinion as he's only getting a small share of the equity (as getting other amounts as 50/50 split), and as I've never sold a house before am at a loss what to do.

The house has been on the market for 17 months, with a starting price of £465, then £440 and now £400. There isnt any other houses similiar to this in the village and most house here belong to the Fitzwilliam estate so only a small minority are privately owned. Here is a link to our house:

http://www.rightmove.co.uk/property-for-sale/property-19411759.html?locationIdentifier=REGION%5E82351&insId=1&pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DREGION%255E82351%26insId%3D1%26radius%3D0.0%26displayPropertyType%3D%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D%26maxPrice%3D%26retirement%3D%26partBuyPartRent%3D%26maxDaysSinceAdded%3D%26_includeSSTC%3Don%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse%26x%3D42%26y%3D4

Any advice would be much appreciated. The EA is phoning me back at 11am to see what I've decided.

Here are two others for sale in the outskirts of the village:-

http://www.rightmove.co.uk/property-for-sale/property-10613868.html?locationIdentifier=REGION%5E26122&insId=1&pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DREGION%255E26122%26insId%3D1%26radius%3D0.0%26displayPropertyType%3D%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D%26maxPrice%3D%26retirement%3D%26partBuyPartRent%3D%26maxDaysSinceAdded%3D%26_includeSSTC%3Don%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse%26x%3D57%26y%3D10

and this one:-

http://www.rightmove.co.uk/property-for-sale/property-21360745.html?locationIdentifier=REGION%5E26122&insId=1&pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DREGION%255E26122%26insId%3D1%26radius%3D0.0%26displayPropertyType%3D%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D%26maxPrice%3D%26retirement%3D%26partBuyPartRent%3D%26maxDaysSinceAdded%3D%26_includeSSTC%3Don%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse%26x%3D57%26y%3D10

To be honest I think you've got it a little back to front in terms of haggling. When the EA phoned with 355, you should have been firmer - told the EA to say no and then told the EA not to bother calling you back unless they offered at least 380.
Your position as a seller should be that of strength - YOU have something desirable that you don't really want to part with. So from that perspective you should be able to get a better offer, purely because you're instilling a sense of urgency and desireablility with the prospective purchasers.
It sounds like the couple who viewed were tyre-kickers who low-balled you with a derisory offer. (of course, this will depend on what the survey values the property at). Any offer you feel is derisory should be treated as such, and make sure your EA doesn't bother you with stupid offers. If the EA knows you won't accept less than x, then there's no point in him wasting YOUR time in phoning you.