Vendor rejected offer without counter offer

aqueoushumour01

there is always a lot of discussion of percentage below asking price. if a house is vastly overpriced then 25% off might be equivalent to asking for 5% off a more reasonably priced property. Plus, asking prices will change (typically fall) over time as offers and viewings fail to materialise - so too therefore will the offer as a percentage of the asking price. The only thing you can do is research the area, take into account the current market and offer what you feel is reasonable. I put in an offer on two houses at different times, both of which I thought reflected the value of the house. The owners disagreed. 2 months later I get a phone call from one asking if I'm still interested, and six months later the other house has an asking price slightly lower than my original offer.

Doozergirl

zaksmum wrote: »

Thanks Az. I would've gone for the bungalow but you have to be careful not to fall in love with the place and pay more than it's worth. I think these vendors would only take about 2% under asking price (which is 200K) and it does have it's negative points which is really why it's best to walk away.

It's very small - just one reception room and 2 beds and no dining room, just a small kitchen, and leasehold too which puts me off. And very small windows.

I'm viewing another one tomorrow so we'll see how that goes.

It doesn't even sound like you even liked it, let alone fell in love with it.

Find the right place first, then offer.

zaksmum

Doozergirl wrote: »

It doesn't even sound like you even liked it, let alone fell in love with it.

Find the right place first, then offer.

I did like it. The fact that it was a bungalow was the most important aspect really. I would definitely need a conservatory put on the back of it to make somewhere to have meals. the so called dining kitchen is 7ft by 11ft and that's not big enough to eat and cook in. You wouldn't get a dining table and chairs in there, there's just a tiny breakfast bar.