Please help offer rejected and need a way forward

Running_Horse

Amazing how many non-home-owners are expert in how to buy a house.

Which is why the house price forum was created, so they wouldn't jump on every discussion telling people they are mad for paying so much when there is a crash just around the corner.

delmar39

Keep us up to date with how you go. Some people like to do all the research and there's no harm in looking for what a place has sold for in the past. However, this doesn't mean that you'll get it for this price - you have to accept that an EA valued it at what it's worth in todays market give or take the vendors final decision re asking price. As I said we bought and sold recently. The house we sold we bought new around 7 years ago for £178,995 and eventually sold for £227k (on for £234,950). If our buyer had have looked at our original purchase price what would that have told them? All houses in the area were on for similar asking prices so that's that really. I've seen loads of comments on here in the past telling people not to look at houses that they cannot afford to buy i.e. someone views a place on for £280k and then wonder why offers under this are rejected :think: Anyway it does depend on area, desirability (are the people you're dealing with likely to get a flood of offers?) etc. Best of luck.

poppysarah

Cash buyers making offers should start to be treated with some degree of reverence anytime soon.

For years it's not been like that though - there seems to have been too much money floating round the system.

tawse57

Look at it this way Sarahmoo.

The army is about to start making cutbacks in manpower. Within a few months there will be plenty of highly trained marksmen looking for work. You probably could pick up an ex-SAS hitman for about 1K - 2K if it is a couple. Only a day's work at that.

So you need to weigh up the balance between hiring a highly trained ex-SAS man to knock off your sellers or upping your asking price. Is this your dream house? Do you REALLY want it? What are you prepared to do Sarahmoo?

I know, it is a dilemma faced by most people looking to buy a house. Put it on the list - West facing rear garden, pretty kitchen, real fire, hire trained killer.

Failing that, buy two plane tickets to New York, pop them through the letterbox of the house you want and when the sellers go on holiday you nip in there, formally squat, decorate and bake cookies for the neighbours. When they return claim to have lived there for years - dependent on how good your cookies are your new neighbours may well back you up.

Never feed cookies to ex-SAS men!



This is neither financial, housebuying, squatting, cookie nor asassination advice. If in doubt, pretend you never read this post.

Eric1

Running_Horse wrote: »

Amazing how many non-home-owners are expert in how to buy a house.

Which is why the house price forum was created, so they wouldn't jump on every discussion telling people they are mad for paying so much when there is a crash just around the corner.

With all due respect, being a homeowner, especially if one bought in 2006-07, does not make one much of an expert either

westlondonbuyer

poppysarah wrote: »

Cash buyers making offers should start to be treated with some degree of reverence anytime soon.

Most so-called "cash buyers" are actually not *cash buyers* at all, although many are happy to represent themselves as such to vendors and to estate agents (most of whom are too lazy or stupid to ask for proof of funds).

Most so-called "cash buyers" are merely making a majority-cash purchase, so that obtaining a mortgage is easy for them, but the transaction will still be subject to normal processes and therefore delays. The only advantage is that the buyer will be chain-free.

A real "cash buyer" is someone who has a lump sum in a highly accessible bank account that will cover the cost of the entire transaction and not require further finance. Most of these are investment buyers. They are only interested in properties that have speculative appeal, or promise high rental yields. Most of these people are not interested in normal family homes at regular, market-comparable prices.

There are a few people who have successfully down-sized and are now genuine cash-buyers looking for their own new, smaller, homes. They're a rapidly-shrinking pool, although you'd never think so given the relentless optimism of estate agents.

Running_Horse

Eric1 wrote: »

With all due respect, being a homeowner, especially if one bought in 2006-07, does not make one much of an expert either

Are you saying you don't own a home?

Have you ever bought a house?

Chris2685

As a cash buyer you are in a strong position.

If you really wanted to pay 235, you should have gone in at 225 as your first offer

The EA will want you to pay more, they get paid more the more you pay, so take their patter with a pinch of salt. Only you know what you want to pay, and really if you just offer them 240, are you going to be much worse off?

Debras_Angel

Eric1 wrote: »

With all due respect, being a homeowner, especially if one bought in 2006-07, does not make one much of an expert either

Eric1 what has buyinbg a house in 2006-07 got to do with it?

Eric1

Running_Horse wrote: »

Are you saying you don't own a home?

Have you ever bought a house?

Not in this country.
Nobody's perfect

Debras_Angel wrote: »

Eric1 what has buyinbg a house in 2006-07 got to do with it?

The experience of dealing with EAs and sellers in those years does not make anyone's advice more useful than the same experience in 2010.