How would you deal with this 'awkward' seller...

Debt_Free_Chick

You can only base your offer on what the market value of the property is, given its current condition. That might be £350k or it might be £250k - without knowing the property, we're all stabbing the dark.

How you price the work to be done is, to some extent irrelevant. One person could spend £8k doing the kitchen and another could spend £20k.

The cost of any work should be factored into the market value - but again, it really depends on what work is considered to be essential For example, does every wall in the house need to be skimmed? Surely only a new build comes with perfectly skimmed walls and one wouldn't expect that with any older house.

I guess I'm trying to say that your price for all the work you choose to have done is unlikely to match the vendor's price for the work he thinks is necessary - or the EA's estimate for any essential work.

I would be inclined to ask three other EAs what value they would put on the property in its current condition to give you a feel for the market value and then take my offer from there - which would probably be a lower starting point, with a view to compromising around the market value.

HTH

bunty109

I think realistically you might say to the vendor that you will have to rewire after 40 years, and that the kitchen and bathroom need doing after that amount of time, but skimming of ceiling and new windows and doors are really things you want and can live without.

£65 sounds and awful lot and I suspect includes costs of making the house exactly as you want it: you can't expect the vendor to have to drop his price that much. I think a vendor might understand the need to rewire but is going to be less sympathetic to you wanting to skim the ceilings!

I think you need to look at your budget to renovate the house to include only what really needs doing to make it habitable. It might not be impossible to get the house for £300k (a house near us sold for 100k less than its original price, but it started out at 550k), but I think you need to ask the agent how much he thinks it will be worth after X, Y and Z have been done. If he's talking near 400k, then surely somewhere around 330-340k might be worth paying? (if you can afford it)

SteveCat

paint wrote:

But the 'dummy' vendor is a completely innocent party! Absolutely disgraceful, IMO.

Click!

They will accept as with any vendor that they will get 'time waster' Its what happens unfortunately.

Rick62

Work out what you are willing to pay, it may not be like other properties, but you can still compare the price oper sq foot, number of bedrooms, size of garden etc etc and taking into account the cost of the works (remembering that all houses need some work). Then offer a price you are happy with. Then look actively at other properties, including with the same EA. Don't make other bogus offers, thats stupid, rude to the other vendors and all the EA's will then think you a time waster.

When the EA for this property realises that (a) you are serious about your interest in the property, (b) you have made what is a serious offer of what you are prepared to pay, (c) you are not hung up on the property but will buy something else if you can't get that property for your price; then the agent will try and convince the seller to take your offer, he wants his commission and wants the property off his books remember.

Doozergirl

SteveCat wrote:

They will accept as with any vendor that they will get 'time waster' Its what happens unfortunately.

It's what happens? So that's an excuse for encouraging people to do it then?

It ain't big and it ain't clever and it's stuff exactly like this that makes the whole house buying process a nightmare from start to finish. I'm disappointed that a 'professional' would recommend this.

clutton_2

""market for £400k - over enthusiastic seller or agent, who knows? Then another agent had it £375k, saw it around 6months this price, now with a 3rd agent, jointly with second £350k. ........... we suggested a cheeky offer of £240k""

i think that's taking the mickey actually - along with the title of this thread.

vansboy

Thanks for the input, people. I appreciate all the comments. Especially the ones in relation to what needs doing & what we WANT doing!!

The plastering work doesn't NEED to be done, but as every ceiling has a generous amount of artex & would be damaged during rewiring (lights are not in the right place & living roomg has only wall lights). Plus it'd make sense to sort the walls, rather than spend on re papering, 'cos it's nasty Anaglypta (spelling) chunky stuff more or less everywhere.

The bathrooms are dark green & sky blue & obviously tiles are in keeping with them - so another NEED to do.

Kitchen, again, not spending a fortune - we used IKES before & would do again.

Windows & doors are all single glazed & timber. OK you could repaint & fix some, but it'd be a temporary saving, 'cos you'd cause more expense & redecorating later.

The garden has some tall trees & hedges which are needing trimming/removing. This to let light on the house, but also to do the same for neighbors - we're sure they'd be asking, as soon as we moved in!

Central heating has done it's job, but it's still the original boiler & oil tank, so another NEED doing.

So not being unreasonable, I don't think.

Agree the house has sentimental value for the guy - the loft has lots of old memories, that I bet he won't remember, till the place is cleared out. Guess he's quite elderly & doesn't have an instant need for £$£$£.

If there were more properties sold/for sale in the area, or more agents to get an accurate value now & when done, it'd be a bit easier. Our offer is more than anything in the past, or so agent implied - I don't think they're liking the way the seller is doing things, amy more than we do. In fact they've now asked him to put in writing to them not to accept any offers less than whatever amount he writes back to them with.

Guess we'll see what that actually does!!

Thanks again!

VB

MJMum

£65k! You're having a laugh really.

I have made (and had accepted) low offers in the past, by "waiting it out" but I think you have a slightly odd take on this.

clutton_2

""Guess he's quite elderly & doesn't have an instant need for £$£$£."

what an astonishingly arrogant and insensitive thing to say - for all you know he may desperately need money - just because he is old - its ok to rip him off is it ?

vansboy

Hi Clutton - sorry if you've taken my elderly comment as arrogant, CERTAINLY NOT what I meant it to read like - just relaying the comments from the agents!

They are implying that he isn't in any instant need of the £$£$, but he's also not helping himself, the agents or us, by changing his mind as to tha actual amount he's willing to accept - even by mentioning his £300k amount earlier in the week, to one of the agents staff, only to be another amount when we make an offer close to it, for it to change once more, whan he talks to another!

Obviously we'd like it at the best price for us, without ripping anyone off, - but when you have previous LOWER offers made, by people not in as good (in theory) as a position to buy, as us, the agent also feeling the figures OK & can appreciate the extent of work needed, to bring the place up to date, it really is, I'd think most people would agree, sensible for the seller to accept a figure that takes this all into account.

Thats if you really wanted to sell!!

VB