Seller just won't budge

casper_g

cooltt wrote: »

Makes me laugh all these sellers asking stupid prices for their houses. It's only worth what the market says it's worth not what the seller thinks it's worth. Never mind it's their loss sitting in a house they don't want to be in.

I'm in a similar position to the OP: ready to buy a house, but unwilling to pay more than I think it's worth in the current market. The trouble is, the market consists not only of buyers but of sellers too. The market price isn't what I'm willing to pay, it's the price I can agree with a vendor. So far, I apparently haven't been offering the market price....

frustin

Have you checked www. zoopla .com to find out what other properties in the area go for?

We were going for a house that was at £270,000 but it was worth it and the 8k stamp. In fact it got three offers (inc ours) in the first week, which proved it was worth it. In the end our full and final was £282,000. House is what you think it's worth (and what the lender ultimately thinks).

ukcarper

The average house price is about 75% higher than in was in 2001 so that would make the £166k about £290k. Weather than has any relevance depends on where you are, what you need to do is find out what similar houses in the area have sold for and base your valuation on that.

The stamp duty threshold is a problem but I suppose what it does is reduce the value of the house by 3% in over £250k example.

ukcarper

cooltt wrote: »

Makes me laugh all these sellers asking stupid prices for their houses. It's only worth what the market says it's worth not what the seller thinks it's worth. Never mind it's their loss sitting in a house they don't want to be in.

As you don't know where the house is what type of house it is you have no idea if it's overvalued.

Tiddlywinks

Not all sellers are desperate to move so why keep pestering them - they've refused your offer several times so you have three choices: ...

1. Pay more for this property as you really want it and haven't been able to find anything more suitable
2. Don't buy it but continue to moan about the sellers being unreasonable etc, etc
3. Don't buy it and move on....

Over to you.

vikingaero

ukcarper wrote: »

As you don't know where the house is what type of house it is you have no idea if it's overvalued.

Exactly the house could have been downvalued to £270k from a higher figure and there's no way the vendor would entertain a £249k figure... until we know what and where the house is located.

sismith42

Maybe they really can't afford to take any less, as that would put them in negative equity/prevent them from buying the sort of place they're looking to move on it?

sw67

casper_g wrote: »

I'm in a similar position to the OP: ready to buy a house, but unwilling to pay more than I think it's worth in the current market. The trouble is, the market consists not only of buyers but of sellers too. The market price isn't what I'm willing to pay, it's the price I can agree with a vendor. So far, I apparently haven't been offering the market price....

I agree with this

I have a house on the market for a figure that is as low as i am going to
go in the current market but still not getting a sale. Its priced lower than any other similar house in the area and is only 75% more than its 1995 price.

Its going to cost me £80k to move from 3 bed detached to a 4 bed detached at my selling price so i am not going lower.

I have been getting quotes to extend and expect to pull the house off the market in the next few weeks

I dont care how much my house is worth as it a home but i need some kind of return to move up

Eton_Rifle

I don't think your sellers will be psychologically prepared to take a 30K 'loss' after only, what, 8 weeks?
After 8 months, maybe.

KateLiana27

I'd leave the offer on the table and move on. If they're interested they'll come back to you. In the meantime you can try to find a property that is priced more fairly - they do exist! Definitely don't pay more than you think it is worth.