annoyed- house on market @ £169,950 but they want £180,000

jamminjamaica

I do not know why people expect so much more than the asking price.

i viewed a house last night which has a asking price of £169,950 the house is 17 years old and has not been decorated since then, plus they have turned their garden into a drive way. during our convrsation with the owners last night my husband asked if they would accept the asking price, to which he said he wants £180,000.

now the house has been on the market for over 4 weeks with no offers on the property. ( this is a long timefor this very sought after area) usually houses go sale agreed within 2 weeks.

he also said that they already had been offered the asking price but when i checked with the agent this morning they confirmed that there had been no offers on the property.

anyway we have put in a offer on asking price and if they do not accept then so be it. i know they are desperate to get sold as they need the money to start building their new house.

what do you think my chances are?

aderbyshirelad

Fingers crossed for you. How they react to your offer really depends on their circumstances. It does seem a bit nuts that they've put it on at £10,000 less than they seem to think its worth!

See what other properties in the same street have gone for and stick to your guns. If their EA put it on at £169950 then maybe there's hope.

No help to you now, but if they'd had no offers, I wouldn't have advised even offering the asking price...

jamminjamaica

similar property sold for £168000

aderbyshirelad

Definitely stick to your guns if that's the case.

If they wanted £180k they should have put it on for that. They wouldn't have got it then either, but hey ho, some people have very strange ideas.

greencat_2

Trouble is - Jammin is in Northern Ireland - where prices have gone nuts over the last year. It may still be a bargain if you think the trend will continue.

At the end of the day, they are obviously not that desperate to move or they've taken your offer. My guess is that you offered the asking price a little bit too quickly and they are wondering if they can squeeze you for a bit more since you are obviously keen.

I'm amazed the EA didn't play ball with the owner's story.

PS. A month isn't very long for a house to be on the market IMO.

nomoneytoday

jamminjamaica wrote:

similar property sold for £168000

Then offer 168000 - if they refuse, then offer the asking price if you like
Worst scenario is they say, "No thanks"

leftieM

TBH the way things are, looking for a mere £10k over the asking price is pretty modest! I bet you got at least that for your place. You are in a strong position though - if it's been on the market for a month then they will get tired of waiting. Then again maybe they're in no rush and, like a load of people near me, they will sit it out to see how much they can get. I used to see 'for sale' boards up and think the poor owners couldn't get a sale. Now I know it's because they keep getting more offers.
Is the house 'offers around' or 'offers over'? This will make a lot of difference to the expectations of the vendor. When did the other house sell for £168k? If it was more than a month ago then it is no longer a true reflection of the market value IMO.
You could maybe meet them some way if you really want the house. I would check why they haven't had any offers. I think a month without an offer in such a hot market is ages! Are there any other properties for sale nearby? You could ring the agent and check what offers they have (or get your agent to do some digging for you).
Good luck - I read your posts about losing the last house so I hope you can get a great place.

jamminjamaica

the house has had no offers and if i am honest the house is worth the asking price but not more as the house is in need of a lot of redecorating and needs a new kitchen.

jamminjamaica

also they have the house listed as offers around £169,950. i will not go any higher on this house.

whambamboo

leftieM wrote:

TBH the way things are, looking for a mere £10k over the asking price is pretty modest!

ah, could you send me £10k then :-)

alyth

I can top this story - we put our house on the market, sold within 5 weeks, in rural Perthshire - got £50K over the o/o price - fantastic, we thought. Started to look around and found the perfect house, o/o £335K, put in an offer of £355K, but willing to go to £400K - got the response from the estate agent, looking for offers in excess of £450K! I know the system in Scotland is different, and properties frequently go for double what they're on the market for, but a difference of over £100K is utterly unbelievable - our lawyer said he thought they were taking the p&1s! The house we've bought now we got for £20K over the o/o price, and that is a bargain - up here it's just a joke price-wise, if you look at one price bracket then you have to look at least another two brackets up, and that includes flats on the market for £50K. Strangely enough that house is still on the market, but at the end of the day a house is worth what you're willing to pay for it, we walked away from that one and found a better one, but this is our final house buying-wise and it's just pot luck when you go to put in an offer. Northern Ireland sounds like Scotland with regards to the market