offer rejected but sellers have had offer accepted on property they want.

yvonne13_2

They maybe holding out for a better offer from someone else.

How and why have you been told how much they have offered on a house they want? What they have offered has nothing to do with anyone, all you need to know is that they have told you no.

AndyGuil

Take a look at what similar houses on that street sold for previously. That will give you a big idea as to what to limit your offer to. You can always tell them the last property on this street sold for XX and the prices are falling in this market so my offer is YY.

xyellowx

if they think they can get 2008 prices they are deluded but that said they can put it up for what they want (just wont sell it)

if they want full asking price ask them to renegotiate on the property they had had offer accepted on as no doubt they also offered full asking price.

MissMoneypenny

Look for something else; it's a buyers market. Just make sure your offer is low to allow for the house prices dropping futher. Job losses and all the welfare cuts starting and with lots more welfare cuts to come, are not going to help the house prices.

A few years ago in a sellers market, I put one offer on house A and they declined. I found house B and my offer was accepted. On the day our chain completed and we were loading the van, I received a call from the EA of house A, telling me they had decided to accept my offer. It took them that long to realise that I had offered a realistic price.

geoffky

the estate agent is also at fault here...they should tell the seller about the market

Iamdave

yvonne13 wrote: »

They maybe holding out for a better offer from someone else.

How and why have you been told how much they have offered on a house they want? What they have offered has nothing to do with anyone, all you need to know is that they have told you no.

The EA told me how much they'd offered on the other house (I didn't ask).

The only equivalent house that has sold in the last 18months went for £190k.

I'm going to bide my time for now I'm in no hurry, can continue to save and boost my deposit.

IMO I think the Vendor is holding out for the asking price so that their fees will be covered; solicitor, stamp duty, surveys, EA fees etc will cost them upwards of £5k. So even if they originally budgeted for the £210k and are dropping down to a £200k house even accepting my offer in the region of £200k would still leave them having to find their fees.

Basically I'm left thinking i've offered exactly what the house is worth 'now' and they are after what it was worth 'then'. As i said i'm in no hurry and in a few months time they may be or may have seen sense. If they do my offer will drop £2k at least to reflect the Stamp duty hit i will take.

billybear1

Me and my fiancee were in a similar position, of which I made a thread about and the same lines followed pretty much.

My advice is hang around, look about and keep searching for something which you feel is worth the money. Your in the same position of saving a valuable deposit which is all knocking off your LTV and upping your equity. House prices are not going to be shooting up anytime soon. If anything it's going down. Your losing nothing by looking for something that might suit you better and upping your deposit, gaining ground on falling prices and clearing your head by really checking out the market.

The house might be on there again in 5 months and you could have an extra £Xk saved.It's a great position to be in really, no matter how depressing it may seem!

BB

yvonne13_2

OP the EA told you what they want you to know and to be honest I find that very unprofessional for them to tell you things to try and get you to up your offer.

You are spending to much energy trying to figure out what they are spending there money on, what is it with this house why you can't just leave your offer on the table and look for something else that you may love too.

GDB2222

billybear1 wrote: »

Me and my fiancee were in a similar position, of which I made a thread about and the same lines followed pretty much.

My advice is hang around, look about and keep searching for something which you feel is worth the money. Your in the same position of saving a valuable deposit which is all knocking off your LTV and upping your equity.
BB

Wedding £9,000 / £9,000
House Deposit and Fee's £21,000 so far....

You could, of course, have £30k deposit saved and a cheapo wedding. My wife and I did that, and we had a lovely wedding and a lovely house to move into. We're still married, btw.

Iamdave

Viewed another house with the same agent on the weekend. Didn't like it but EA said that the vendor of the original house in this topic asked if i would boost my offer my approx £2k. or the agent asked whether i'd like to reinstate my original offer.

I said no as with the stamp duty holiday over that £2k is effectively £4k to me. Said i'd re-instate the original offer though. (EA said they'd get back to me today - which they didn't)

Not sure what the EA is trying to achieve, whether they know the offer will be rejected again, whether they're trying to just show the vendor that they're still trying to get them a buyer activly or whether they think they can squeeze more money out of me.