Offer rejected :-(

MegaMiniMouse

harrup wrote: »

Excuse me?

HOW is it alx2010's responsibility to offer what the vendors want or need.

HOW is trying to negotiate the best price when purchasing something equivalent to "greed"? Bizarre premise.

And who mentioned anything about the sellers "misfortune"?

The OP was the first to use the 'greed' word!

Apparently, the vendor's failure to immediately accept the OP's first offer was due to greed?

Eh?

MMM

westernpromise

ToriF wrote: »

and if someone came to be with an offer now of say £X which I rejected, and said well take it now or next month it'll be £X - 10... I'd tell the EA not to even bother putting their lower offer to be in a month.

How would your view change if you received no other offers, had no other viewings, or any other offers you received were lower than the initial bid?

That's the point of it. I've had vendors who hawked my offer about and tried to get better, and a month or two or three later they thought I would still be there as the only / highest bidder. Well, no. If they can't find a better bid, there's no reason the original offer should stand. It was clearly too high in the first place.

I've bought three times and done this on all three. I've usually been in a favourable position first - cash buyer or mortgage already approved, no chain. Do you want to sell your place today Mr Vendor, do you want to sell it for less in a month, or do you still want to be here in a year?

If the latter, then clearly it won't work. However, if someone figures they'll sell their house but they couldn't care less when or if they do so, then I'd suggest they are the vendor equivalent of the flaky buyer who may not be able to complete.

suki1001

This is true western promise. I only know 2 people selling. Have been on the market for several months - no viewers. Bet they don't have the same opinion as the op. In fact, my dad is one of them. I looked into maybe buying, but his ex wanted full price (this was when it first went on the market). So we bought off someone who was negotiable. My dad now says they're looking at one of those companies that buy's houses cheaply.

westernpromise

Quite.

I am baffled by the idea that if a vendor rejects your bid, you should obediently raise it.

Of course, one can see why vendors would like it. All they have to do, to find out how high you'll go, is keep refusing your bids. Eventually, when it stops going up, that's the highest price.

Meanwhile, the bidder has discovered nothing about the lowest price the vendor will go to. All they've done is dance to the vendor's tune.

Clearly, if the vendor is determined to get X and would rather not sell than get X, that's his / her prerogative. But why should he expect your bid to go up? You're looking at other places, you know your budget, and the vendor knows (and should be told) nothing about how good an option his place is versus your other options.

So keep them guessing and undermine their confidence a bit. A bid of £X does not automatically mean the next bid will be higher. Why should it be? If you see a suit you like in a shop at £300, and 9 months later it's still there, would you offer the shop £350 for it or would you offer £200? Exactly!

ToriF

westernpromise wrote: »

How would your view change if you received no other offers, had no other viewings, or any other offers you received were lower than the initial bid?

That's the point of it. I've had vendors who hawked my offer about and tried to get better, and a month or two or three later they thought I would still be there as the only / highest bidder. Well, no. If they can't find a better bid, there's no reason the original offer should stand. It was clearly too high in the first place.

I've bought three times and done this on all three. I've usually been in a favourable position first - cash buyer or mortgage already approved, no chain. Do you want to sell your place today Mr Vendor, do you want to sell it for less in a month, or do you still want to be here in a year?

If the latter, then clearly it won't work. However, if someone figures they'll sell their house but they couldn't care less when or if they do so, then I'd suggest they are the vendor equivalent of the flaky buyer who may not be able to complete.

I did say "at this stage I wouldn't accept and offers under the asking price"

True that may well change 6 months down the line.

However as I said - I beleive its on a very reasonable price and
I've been keeping an eye on the maket in my area for the last year so am aware of what houses are going for.

and I'm def not a "flaky seller". There is just no immediate rush for me to sell - everyones circumstances are different.

However... I have today had an offer of the full asking price :j which confirms to me that my house is indeed on at the right price.
(I'm not counting my chickens yet as the buyer still has a house to sell!)

jimpix12

Did you sell your house ToriF ?

I'm guessing not...