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

North-East_Quine

The Scottish system has always been different and you have to put in an offer in excess of what is asked. Currently, in Aberdeen, you won't get a property unless you put in an offer of 30% over the asking price! Crazy, I know.

leftieM

whambamboo wrote:

ah, could you send me £10k then :-)

Sure! What's 10k between strangers?
Jammin, if the price is 'offers around' then I wouldn't go too high either. I bet your offer of the asking price will be accepted in the next few weeks if you leave it there.

never_enough

Keep looking at others though too, preferably with their EA, until they either accept or decline your offer.

regularsaver1

Jammin

I have seen your posts before about getting your mortgage offer? --- I thought you'd found a property?

andykolo

here in northern ireland it is common place to go over the asking price the worst i heard off was a propert at £165,000 going for £204,000 and there was nothing special about the place

jazzyjustlaw

Wouldnt happen if people were not so desperate and willing to pay over the asking price. You are all making it worse.

Nearly_a_Homeowner

Don't know how the system works in NI but am an EA in West Yorkshire. Sounds to me like the vendor has an unrealistic expectation of the value of the property. This happens a lot and is probably why the EA has put it on at £169k to achieve a sale. Most people get 2/3 valuations before putting the house on the market so this was probably the highest.

With regard to paying over the asking price, we have many problems with down valuations when this happens. By this i mean where after the offer has been accepted, the mortgage lenders valuation report deems the property to be worth less than the offer price and will only lend to the value they attribute to the property to ensure the property is a suitable risk. When doing this they will certainly look at comparable prices of property in the area so your research may well bolster your offer!

I think it is best to leave your asking price offer on the table, even if it is rejected initially. Many vendors will eventually reconsider when they realise their expectations are unrealistic and the agents advice is actually correct!

Hope that helps and good luck!

leftieM

I saw a house for sale at £195k with an offer of £340k on it. Mind you, it was a fantastic looking house and if it had sold for £195k it would have been the bargain of the century. But 140k over the asking price!!!! Good ole NI. Be patient with us mainlanders - we haven't had a boom before (houses exploded but not house prices!)

Sootzer

leftieM wrote:

I saw a house for sale at £195k with an offer of £340k on it. Mind you, it was a fantastic looking house and if it had sold for £195k it would have been the bargain of the century. But 140k over the asking price!!!! Good ole NI. Be patient with us mainlanders - we haven't had a boom before (houses exploded but not house prices!)

lolololol...........:rotfl:

jamminjamaica

regularsaver1 wrote:

Jammin

I have seen your posts before about getting your mortgage offer? --- I thought you'd found a property?

yes you are right. i had a place agreed for sale and i had signed all the contract for the house. solicitor was requesting the monies from my mortgage providers then 4 days before we were to move in the seller changed her mind about selling the house. we were devastated but there is nothing we could do as moneys had not been exchaged.

so back to square one. i had to relist my house as well because our buyer had wanted into our house for the 27th October. never mind though as i have now been offered more for my house now.

i am going to take my time this time and wait and see what happens.