declined offer

poppysarah

sarah69696pink wrote: »

Maybe they just will not drop though.

the attitude to that should be "we will just not buy"

There will be other houses for less.

decsdad

If you can wait then do so, we ended up in a situation where we couldn't wait, upped our offer to 3.5k below their "minimum"(their min was 15k below valuation) and told them we were signing up for a rental in the morning if they didn't accept.(we actually were going to). Alas they accepted the very next morning.

I would love to have been able to make a lower offer and leave them to stew on it.

sarah69696pink

poppysarah wrote: »

the attitude to that should be "we will just not buy"

There will be other houses for less.

If that's true then yes I agree...if however it is reasonably priced and there aren't other prices for less......

jcbl

We have had offer declined of 91% of asking - are FTBs and will be ready to move by any realistic completion date. Have been advised in response by EA that vendor's expectation is 96%, they want to do a wheeze on the stamp duty with them paying a portion - but get 98%+ of asking price. I won't be too specific but let's just say all these numbers are in a well known 'dead zone' where relatively small price increases markedly change tax liability.

Firstly I'm pretty sure that when the solicitors declare the payment of SD by the vendor to the lender, it will cause the lender to run a mile as we are clearly in reality borrowing to cover the SD and agreeing to pay an inflated price to hide the fact. Secondly, the house would break the record for the postcode by 7% on the land registry and an almost identical property has just sold for our initial offer - at a time when the market indicators are downwards.

I'm not crazy to reject the EAs' insinuation that I'm being unreasonable by sticking to my guns, am I? Sort of feel the best plan is to leave the offer on the table and look elsewhere in the meantime, but worried that the other half loves the place and won't forgive me if it sells for something we might have afforded. I do wonder whether the EA may find someone with proportionately less sense and more money than us to take the bait...

Would welcome views.

Apple45

Believe little the agents say!!

jozbo

We've been looking for 3 or 4 months now and the above strategies haven't worked yet. In fact we've lost out on a couple of places we liked a lot for the sake of a couple of grand and attempting to leave the agents hanging.
Lots of the advice on these forums comes from secure homeowners or cynics of the market who'll never buy. Take it with a pinch of salt.
My advice is when you're buying something for the long term and can afford it (think about that) - don't pass up on something for the sake of pride. We all want a bargain but who cares about that when you're settled in your house and enjoying life there?
There is more to life than money. Blasphemy!

decsdad

I agree with what jozbo says above, I guess it depends if you are buying the forever home or not. If you are, a few k doesn't matter, but if you know you'll be selling again anytime in the near future then its probably worth being more cautious and not paying too much when we don't know where the market will be in a couple of years. IMHO.

poppysarah

decsdad wrote: »

if you are buying the forever home or not. If you are, a few k doesn't matter, .

If you wee money then a few k probably doesn't matter.

This is a site called money saving ...

Loanranger

Apple
Jozbo is right.
Most of the responses to you are from people who post the same silly message all the time. They pounce on posts such as yours with their mantra. They have no interest in you and your situation. Their only interest is to promote a political message that the housing market has crashed.

Read their previous posts, they quote selective statistics while the reality is that the housing market is stagnating: small bumps up, correspondingly small bumps down.
I suggest if you want to live in that particular house then get on with the process of buying it.
If you need the seller to drop the price by 7.5% then maybe it is out of your price range.

Apple45

many thanks, we are playing it cool!!