first offer, too high?

daisymay2008

bumgum wrote: »

hi.

we accepted an offer on our house a couple of weeks ago, so we are in a good position.
we've seen a house we really like that's on the market for £145.000, ticks all the boxes, excellent location for schools for the kids etc...
now, we put an offer in at 135.000 which was rejected (the house has only been on the market for around 2-3 weeks), the EA said he priced the house at 145.000 & look for offers around 140.000, but we really can't stretch much further than our offer, due to the price we sold our house for.

the vendors are moving & need to move before sept.

how should i play this? any advice would be really welcome.

wait and wait, then offer to meet them half way at 137500? say it's your final offer and put in writing detailing the good position your in etc

Tinkaf1

It depends how they marketed it! You can't just say nobody gets asking price these days, because some people put their on for what it is worth, and it goes before even being advertised.
One of the areas i am looking at a 3 bed bunglaow came on the market for 250k, was sstc in 2 days. I have since looked at zoopla and found it went for full asking, which i expected give it was 2 days. Sure they could have put it on for 275k to allow for fannying about, but it was clearly the home of an elderly person being sold off by family, no chain and priced to go.
You have to ask yourself how it was priced. I would have said no too to be honest, you need to wait, up it by 2k and then tell them that is it, or walk away and re offer it in 6 weeks if it is still there.

Seanymph

I've just paid the asking price for a house.

It had been dropped, had been recently valued at the asking price, was a fair price - so I paid it.

Not that it doesn't make me dim - but I thought I'd put my head above the parapet and say some buyers do come along and pay the asking price, if the asking price is fair and right.

Seanymph

Oh, and I'd give it two days - call back and say you were offering your best, because you want it so much you've managed to raise an extra £2k from your in laws but that really is stretching it and you can't go any higher.

Then see what they say.

martinthebandit

bumgum wrote: »

................do we tell the EA that we have cooled our interest or do we say that the original offer is still on the table?

If it was me I would tell the EA that it was the maximum we could afford and it was a shame that it was not accepted as you have already sold your house etc etc.

Also tell them that if the vendors change their mind and decide they want to accept the offer that you cannot guarantee that you would value the house at the same amount in a month or 6 weeks time as it depends on how the market has moved and/or if you have found another property.

You may also want to mention that you have a couple more places lined up to view next week through a different EA.

Well thats what I would say anyway

bumgum

thankyou all for the feedback.
this is brand new to the family as we've never moved before, we've only ever had 1 house.

keep the comments coming, it's really opening my eyes.

joerugby

Sit tight. If the agent rings tell him you like the house very much but you think you have made a fair offer, and as it has been rejected you are looking around at other properties on the market. Don't say any more than that, just listen. If he asks for your maximum bid just repeat that you think you have made a fair offer.

FATBALLZ

Seanymph wrote: »

I've just paid the asking price for a house.

It had been dropped, had been recently valued at the asking price, was a fair price - so I paid it.

Not that it doesn't make me dim - but I thought I'd put my head above the parapet and say some buyers do come along and pay the asking price, if the asking price is fair and right.

I'm also in the process of buying a house for about 3% off asking price, although the asking price was reduced a few weeks before our offer. Of the 12 houses I viewed though, it was one of only 2 that was reasonably priced.

I did offer on a couple of offers but at under 90% of asking price as that's all they were worth. Those offers were rejected, but I'm keeping an eye on what the places sell for, as I expect it will be for less than I offered.

bumgum

i'll wait until the EA phones me for feedback tomorrow.
i've got a good idea (thanks to the replies) of what to say to him.
i'll keep you all updated as to how it goes.

thanks.

harrup

Seanymph wrote: »

I've just paid the asking price for a house.

It had been dropped, had been recently valued at the asking price, was a fair price - so I paid it.

Not that it doesn't make me dim - but I thought I'd put my head above the parapet and say some buyers do come along and pay the asking price, if the asking price is fair and right.

A most sensible decision.

As long as your new house represents a "good deal" to you - and this may incorporate MANY other things aside from price - it was a great buy and that is all that matters, surely. Congratulations on your new home!

I'm all for getting good-value-for-money...but I'm often surprised by the volume of posts who say "we've seen a house we really love, its everything we want AND we've got the money - how low should our offer be?". Then they dilly-dally around with silly offers, minute increments...and then they lose out. And feel huffy about the "greedy seller". What has that buyer gained?

As I said - puzzling.