Putting an offer in on a house

spadoosh

sarah.roberts25 wrote: »

Beacause its very rare you get a vendor saying i want to sell my house for this much, infact they don't tell you very much about price when you put offers in. It's not them that value their house its the estate agent!!

MOST people put their house on the market and expect to have offers below the asking price! Its rare i bet someone would look at a house and say yes im going to pay the asking price.

Good luck in selling your house in the future if your not open to offers then i doubt you will sell any house!

Rant over!

Not at all, an estate agent suggest a recommended price, if the estate agent decided the price most houses would be considerably cheaper so they could sell them quicker. Its the vendor that decides the price based on recommendations and their needs.

And its not rare, its just circumstance. Everyone is being told its a buyers market etc etc. Most people who are selling are currently unable to move on their house price as they are borderline negative equity or worse and as such 000's of houses are still on the market from 1yr+ ago because they cant lower the price and because people dont think there getting a bargain they move on.

I honestly think i will be able to sell a house because i have, and use, the natural human trait of reason, and as such will use perspective to put a true and fair value on my house.

Why is it you don't go into tescos and offer them 30p on a £1 tin of beans but yet its sooo right in the housing market.

Dont get me wrong OP i wasnt meaning to attack you or your offer, but am annoyed at what youve been told.

Are you not able to look at a house impartialy and they "i believe that house to have a value of £xxx"? or a that is how much im willing to pay.

E.g. listed at £149950

1st offer £130000
2nd offer £135000
3rd offer £140000 ( by now there getting the idea you really want it)
4th offer £142000 (get an idea your close to budget)
5th offer accepted lets say at £145000


1st offer £140000 (best offer you got)
2nd offer £141500 (sold ya cat and borrowed from ya nephews piggy bank)

Which do you think is more likely going to be seen as genuine and which one your willing to take for a ride?!

Work out how much you are willing to pay and if you want to put an 'offer' in do so at a small % under your willing to pay price. Saves the f***ing around

spadoosh

DannyboyMidlands wrote: »

I don't think that you should get so worked-up about it. I make offers on lots of things. Houses, used cars, I bought a 2nd hand bed frame the other day for my offer price. All simple transactions with me asking for a reduction cos I wanted to pay less.

If people don't like the offer then fair enough, they can reject it. But some WILL like the offer, sell it to you and save you thousands of pounds on the asking price.

Sounds like you overpaid for your place.

Rest assured i did not.

DannyboyMidlands

spadoosh wrote: »

Rest assured i did not.

But that's just wishfull thinking isn't it. You have no way of knowing because you offered a grand below asking. Of course they accepted it, probably thought all their Xmases had come at once, but maybe they would have accepted £10k under, or £20k or £50k. Who know's unless you try?

Miss_$

spadoosh wrote: »

Not at all, an estate agent suggest a recommended price, if the estate agent decided the price most houses would be considerably cheaper so they could sell them quicker. Its the vendor that decides the price based on recommendations and their needs.

And its not rare, its just circumstance. Everyone is being told its a buyers market etc etc. Most people who are selling are currently unable to move on their house price as they are borderline negative equity or worse and as such 000's of houses are still on the market from 1yr+ ago because they cant lower the price and because people dont think there getting a bargain they move on.

I honestly think i will be able to sell a house because i have, and use, the natural human trait of reason, and as such will use perspective to put a true and fair value on my house.

Why is it you don't go into tescos and offer them 30p on a £1 tin of beans but yet its sooo right in the housing market.

Dont get me wrong OP i wasnt meaning to attack you or your offer, but am annoyed at what youve been told.

Are you not able to look at a house impartialy and they "i believe that house to have a value of £xxx"? or a that is how much im willing to pay.

E.g. listed at £149950

1st offer £130000
2nd offer £135000
3rd offer £140000 ( by now there getting the idea you really want it)
4th offer £142000 (get an idea your close to budget)
5th offer accepted lets say at £145000


1st offer £140000 (best offer you got)
2nd offer £141500 (sold ya cat and borrowed from ya nephews piggy bank)

Which do you think is more likely going to be seen as genuine and which one your willing to take for a ride?!

Work out how much you are willing to pay and if you want to put an 'offer' in do so at a small % under your willing to pay price. Saves the f***ing around

I didn't say the estate agent sets the price i said the estate agent values the house!!

For your information believe it or not that's exactly what we have done!! Worked out how much we can pay. So we have put an offer in at a small % below at what we are willing to pay!

No you don't go into Tesco and offer a price because thats a supermarket, very much different to selling a house, car etc etc. Like someone said above if you go buy a car do you pay the price it advertised for 99.9% i bet you don't.

spadoosh

DannyboyMidlands wrote: »

But that's just wishfull thinking isn't it. You have no way of knowing because you offered a grand below asking. Of course they accepted it, probably thought all their Xmases had come at once, but maybe they would have accepted £10k under, or £20k or £50k. Who know's unless you try?

Not at all. Ive bought a house i honestly think i can live in for the rest of my life. It meets the needs of most family situations (short of having an army of kids) and can easily be extended should i need it. Yet to find a cheaper house (advertised price) on right move than mine in the area and struggle to find a cheaper 3 bed semi in the first 3 digits of postcode (bear in mind its a very large area and covers a lot of 'bad' areas and my property is in a 'good area)

I did plenty of reaserach before putting an offer in and had been watching the housing market for about a year beforehand.

In response people who bought in 2006 thought they were getting a bargain when they knocked 10, 20, 30k of the price, not soo sure now are they.

Btw i have no problem with offers as such but when you put one in make sure its based on informed ideas and choices and represents a fair value otherwise like the OP's ofriginal offer it serves no purpose but to potentially annoy the vendor

spadoosh

sarah.roberts25 wrote: »

I didn't say the estate agent sets the price i said the estate agent values the house!!

For your information believe it or not that's exactly what we have done!! Worked out how much we can pay. So we have put an offer in at a small % below at what we are willing to pay!

No you don't go into Tesco and offer a price because thats a supermarket, very much different to selling a house, car etc etc. Like someone said above if you go buy a car do you pay the price it advertised for 99.9% i bet you don't.

Depends were you buy the car from. Where the house a new build would you be less inclined to put an offer in?!

You say your willing to pay £140000 from what i can gather yet your initial offer was £130000, thats about 7%, fair enough, but you expected that offer to get refused (because you knew it wasnt really a fair value) and it did, so why bother?! are you expecting £135 to get refused im guessing so if your already planning the £140 offer potentially getting refused. Now imagine if you went in at 137500 (not cheeky, if you have reasons as to why you have made that offer) and then went in at £140 i believe the second scenario would be more likely to be accepted than the first as you have showed nosigns of slowing down, all your saying to the vendor is you really like the house and everytime they reject youll go bac and offer an extra 5k.

Your expecting more or less every vendor to reduce their price and this is commonly accepted this is not how a market should work a market is two parties coming to an agrreement not one party setting a price who is then expected to lower it. there would be no point in asking the original price, everyone might aswell try and sell their homes for a few million, ahh its alright someone will put an offer in. hmmmm no they wont. Potentially a reason why the housing market is a bad as it is.

spadoosh

Essentially im saying i dont think theres any harm in you deciding how much your willing to pay then offer that amount, if its refused, you know you cant afford it, if its accepted youve got the house of your dreams.

If you paid £140000 for it and in 6 months time theres a massive housing crash and its worth 50k it makes nooooo difference what you paid likewise if theres a boom and it goes up by 50k. so as soons as youve handed over the money irrespective of the cost that money is gone. Some people on here are saying property is going to go down further, others saying the boom is round the corner, lets be honest very few of us have any inkling whats going to happen so essentially what you pay doesnt really matter ( unless you wanna try and do a quick renovation) (which hasnt been as profitable in recent years as it was in the past)

Its yours and your b/fs new home and happiness what price do you put on that?! if its something that will make the pair of you happier than ever before is it not worth payin an extra 10/15/20 k?!

Based on the first 6 months of us being in the house together i wouldve happily paid an extra 50k to get our love nest. Its perfect and ours (in 24 years and 6 mths)

poppy10_2

spadoosh wrote: »

If you paid £140000 for it and in 6 months time theres a massive housing crash and its worth 50k it makes nooooo difference what you paid likewise

Except for the zillions of people who post on here every month complaining about being trapped in their properties due to negative equity, unable to move for employment or to separate financials in divorce settlements.

somethingcorporate

Please ignore Spadoosh, they are talking rubbish. It's a buyers market and you hold all the cards.

A deal is made when both parties agree a price - not when the buyer agrees to pay an unrealistic figure an EA has decided the sellers house is "worth".

Spadoosh sounds like an unrealistic seller and a buyer that has overpaid at every property they bought. I'm talking from experience, I managed to negotiate £40k off the last property we bought (on for £287k). If the seller was not happy with our offer (£250k) they would not have accepted.

Now I would have gone to £275k+ but why on earth would I want to pay £25k+ when I can get it for less?

Edit: if you have a look at some of Martin's older articles it has a guide to haggling - you can haggle on literally anything! Why pay more if you don't have to? sounds like a fools mantra to me.

Miss_$

somethingcorporate wrote: »

Please ignore Spadoosh, they are talking rubbish. It's a buyers market and you hold all the cards.

A deal is made when both parties agree a price - not when the buyer agrees to pay an unrealistic figure an EA has decided the sellers house is "worth".

Spadoosh sounds like an unrealistic seller and a buyer that has overpaid at every property they bought. I'm talking from experience, I managed to negotiate £40k off the last property we bought (on for £287k). If the seller was not happy with our offer (£250k) they would not have accepted.

Now I would have gone to £275k+ but why on earth would I want to pay £25k+ when I can get it for less?

Edit: if you have a look at some of Martin's older articles it has a guide to haggling - you can haggle on literally anything! Why pay more if you don't have to? sounds like a fools mantra to me.

Thanks for that at least some people on here know what there talking about! I will come back to Spadoosh when we have the house at the price we wanted to pay....not the asking price!! :j