Offer on house......where to go from here?

whattodo02

SORRY yes just edited.... he upped it to £190k without me going back with an answer to the first offer!?

whattodo02

MrRee wrote: »

This amazes me ... two prices quoted? I HATE that!

Everyone will offer the lower figure unless a bidding war breaks out.

I assume the cash buyer has ofefred £190k and not the £180k you state?

If the offer is a cash buyer and it is £190k then I would take their hand off!

A cash buyer is worth at least £10k says the Estate Agents round here.

Not down to me, i don't really 'get' it either, but thats what all the agents r doing at the moment, around here anyway..

badrobot76

I don't understand your pricing strategy why would you give such a wide range?, personally i would have offered way under your minimum asking price?

casper_g

badrobot76 wrote: »

I don't understand your pricing strategy why would you give such a wide range?, personally i would have offered way under your minimum asking price?

Can't say I understand the price range thing either. It's not something I've come across before. Still, the next move from here is surely a no-brainer. A "cash buyer" has offered more than the price you said you'd consider taking. What you do now is to accept the offer!

whattodo02

i don't really understand price either, but practically every house in this area has their house with the 'price range'. I think it is to attract people who are viewing houses in the lower price bracket below yours, to get them in the door and hopefully like it and put a higher offer in.
When we put it on the market, we had no intention of ever accepting £185,000, it was just to get buyers in the door and hopefully getting offers of high £190's!?
Houses in the same street -
one sold for £201,000 the same as ours (last year)
one sold for £215,000 with extention off of the back and a garage (last year)
one is on the market now for £185,000 and went sale agreed straight away, but needs alot more work than ours..

ceegee

Seems daft to me, too. If you saw a pair of trousers for sale in M&S, priced at "offers between £20 and £30", you wouldn't offer more than the £20, would you?

Anyway, I'd grab any reasonable offer with both hands, given how things are (crummy housing market, Winter coming on, economy going down the pan etc).

celyn90

I think it's really mis-leading to say suggest offers in between two prices when you have no intention of taking the lowest one that you have set.

It might well get people in the door, but under false pretences and that's just wrong.

Whatever you set the level at, you should be prepared to accept.

whattodo02

As i have said, its not down to me, its the agents in this area..

paddyrg

Bite their hand off. 10 grand within the offers range, and if they have cash in hand, blimey.

The alternative is if you try pushing things, the buyer might look at another place in the 195 range who might see cash in the bank as a sure-fire thing, leaving you with a place you no longer want for months, and maybe a lower offer.

andybenw

whattodo02 wrote: »

i don't really understand price either, but practically every house in this area has their house with the 'price range'. I think it is to attract people who are viewing houses in the lower price bracket below yours, to get them in the door and hopefully like it and put a higher offer in.
When we put it on the market, we had no intention of ever accepting £185,000, it was just to get buyers in the door and hopefully getting offers of high £190's!?
Houses in the same street -
one sold for £201,000 the same as ours (last year)
one sold for £215,000 with extention off of the back and a garage (last year)
one is on the market now for £185,000 and went sale agreed straight away, but needs alot more work than ours..

End result of this policy. Buyer gets tempted in by low price. This is around the maximum level of mortgage they can get. OOps, it was just to tempt you through the door, we want more. Mmm I really like it(As it's more expensive than I can afford). I suppose I could push the boat out and get the mortgage.

1 week later survey is complete. Champagne all round, buyer is serious.:beer:

1 month later - Nothing more seems to be happening Panic!!:(

Buyer - It's ok, but I'm just having to re-arrange the mortgage.:T

2 month later- Still Nothing happening Panic!!:(

Buyer- Sorry, I'm going to have to pull out. I just can't get the mortgage.:mad:


Sales are falling through constantly at the moment. Get propertybee on rightmove and check out how many properties go from available to under offer and then back to available again.


All in all, make double sure your Cash Buyer is in fact a Cash Buyer.