Annoying - Seller's greedy

anselld

gemma.zhang wrote: »

We even suggested meeting in the middle with 2.5 k more, got rejected by agent.

This is suspicious to me. Agents should not reject offers they should forward them to the vendor.

Have you perhaps shown how keen you are to this agent and it is actually the agent driving the negotiation because he knows you can afford more and really want the property.

If you were serious about the 2.5k offer then make writing, say it is "best and final" and insist that the agent puts it to the vendor.

Personally 150m from a school is not prime location (too close!) and I think it would put some buyers off. You did say this was not your dream house, so think carefully before behaving like it is; other properties *will* come along.

Good luck either way.

gemma.zhang

Thanks so much.

This is only start of the process, can't imagin the difficulties down the line.:-(

P.s: 150 meters are straight line between the school door and house. It's still two streets away. It's ideal and difficult to give up

birkee

anselld wrote: »

This is suspicious to me. Agents should not reject offers they should forward them to the vendor.

Have you perhaps shown how keen you are to this agent and it is actually the agent driving the negotiation because he knows you can afford more and really want the property.

If you were serious about the 2.5k offer then make writing, say it is "best and final" and insist that the agent puts it to the vendor.

Personally 150m from a school is not prime location (too close!) and I think it would put some buyers off. You did say this was not your dream house, so think carefully before behaving like it is; other properties *will* come along.

Good luck either way.

In my last house, I had MY Vendor pleading with me on behalf of the would be purchaser. Seems he would accept a percentage of less, rather than a percentage of nothing.

Don't trust ANY estate Agent!

myhouse_2

gemma.zhang wrote: »

Hi all!


Hubby and I are still discussing it, to be honest, renting just too much hassel! Tempted to put down 5k and move on.

The location is premier, 150 meters away from the good local school. not sure how long it takes to wait for next one coming! There are a few good houses around, but not as close to school as this one. There have been a few sales on the same street, not as big as this one!

It's really hard decision! Help please! 5k isnot much, however it's lots of uncertainty, waiting and trouble if we need to wait. And anonying to let such difficult sellers to win, And pretty sure we can't knock off anything after survey!!!

Too hard, too hard!

It's easy to give in for the sake of 5K, but it's not really 5K is it? Obviously it depends on how realistic the asking price was in the first place, but you are *probably* overpaying for the house by quite a large amount already. It's more hassle, but might be better to seek a house with a more motivated vendor. Could save you a lot more than 5K

Catatonia

I agree with myhouse. I paid £4k over the valuation price for my house, which I don't regret. But this was £16k off the asking price, which by then had come down to a fairly realistic level (it began at £56k over what I paid which was laughable really). £5k isn't much, but if the vendors are being this stubborn now, I doubt they will want to re-negotiate if the survey is terrible, or down values it.

I had a similar issue with a house about 6 months ago. The asking price was slightly unrealistic, they rejected my offers which ended up being 93% of asking. Since then, they have changed agents, gone dual agent etc a couple of times, but not reduced the asking. The house is still on (nearly a year since it was first on) but they seem determined to achieve their unrealistic price. With these kinds of sellers, if you don't want to pay their inflated price the only thing you can do is walk away. I know how frustrating it seems now, but my story has a happy ending - I have ended up with a much nicer house, in a better location. I hope it works out as well for you.

kelloggs36

birkee wrote: »

There ARE people out there, that don't really WANT to move, so they put their houses on the market for silly money. If some idiot is mug enough to pay the price, then they'll move, laughing all the way to the bank.

If you don't want to pay the asking price, walk away. They are entitled to sell the house at the price they want. You possibly losing your buyer is of no concern to them.

how does that work then? Surely the valuation survey will come back at either the asking price or less? If you want to pay more, the lender won't let you.

globetraveller

kelloggs36 wrote: »

how does that work then? Surely the valuation survey will come back at either the asking price or less? If you want to pay more, the lender won't let you.

They may already have equity from the house they are moving out of

property.advert

gemma.zhang wrote: »

Hi all!


Hubby and I are still discussing it, to be honest, renting just too much hassel! Tempted to put down 5k and move on.

The location is premier, 150 meters away from the good local school. not sure how long it takes to wait for next one coming! There are a few good houses around, but not as close to school as this one. There have been a few sales on the same street, not as big as this one!

It's really hard decision! Help please! 5k isnot much, however it's lots of uncertainty, waiting and trouble if we need to wait. And anonying to let such difficult sellers to win, And pretty sure we can't knock off anything after survey!!!

Too hard, too hard!

Finally you have the answer you knew all along but did not want to admit to yourself. The School.

Can't get into the good school and left with only poor options equals a hard choice over private education, letting your children's education suffer or paying top whack, potentially over the odds for the one property which fits your requirements. The vendors know this already, your penny just dropped.

Go to their house, sod the agent, ask them to name a price to agree a sale today, there and then. Either negotiate a price or move on.

gemma.zhang

it's obvious isn't it... you definitely caught me there.

We called agent today, apparently the sellers called Agent too and asked about us.. sounds like we all have been thinking hard over the long weekend, Agent's trying to see if we could meet in the middle, which is 2.5k more than our current offer..fingers crossed really.

Will keep you guys updated.