vendor won't shift from asking price

drummer_666

Hi,

House is up for 'offers in the region of £90,000'

It's been on market since 9th Feb.

2 weeks ago today I put on offer of £86,000.
1 week later I heard back that it was turned down and later that day I increased my offer to £87,500.

Today, a week later, I have been told that the vendor won't shift from £90k.

I told him that's too high, my offer is fair and the EA agreed but said the vendor won't budge. He says he'll keep my offer on file, will speak to the vendor again in a couple of days and try to get him to move towards my offer. EA also said about me viewing other properties on their books.

Hmmmmm. Has anyone been in this situation before?

It is £2,500 difference which isn't all that much and if it was chain free I'd probably go up to £90. But it's not strictly chain free (people are buying a place that won't be built til end of year).

Is there any way I can put a clause in, I will pay £90k but only if I am given the keys within 12 weeks.

Thank you

DannyboyMidlands

I wouldn't shift either if I was the seller. From his point of view within a week of going on the market the place is receiving high offers. He know's you're keen as mustard.

If you wanted to play it cool you should have done so before now.

Dark_Star

How can you have "in the region of" & refuse offers below?

Did they mean offers ABOVE £90K? Agents *doh*:eek:

Did the agent actually pass the offer on?

Just a thought - they could be holding out for a bit more commission money for themselves...:(

Can you get a friend to view, offer say £88.5K & see how that goes?

nomoneytoday

Dark_Star wrote: »

Just a thought - they could be holding out for a bit more commission money for themselves...:(

I doubt it. Would they lose £1500 odd of commission over £60 ?

steve1980

Maybe the vendor didn't want it (or doesn't know) it's listed as "offers in the region of".

If you can't afford it then don't look at it.

drummer_666

Dark_Star wrote: »

Just a thought - they could be holding out for a bit more commission money for themselves...:(

No the EA isn't holding out for more commission. He thinks the offer is fair.

DannyboyMidlands wrote: »

I wouldn't shift either if I was the seller. From his point of view within a week of going on the market the place is receiving high offers. He know's you're keen as mustard.

They don't think I'm dead keen, because I would have increased my offer or I wold have at least said I would think about it.


I can afford it, but I am put off because it is not strictly chain free.

The vendors are buying a place in a retirement village in Oct. So my concern is that I could give them the full asking price but then they mess me around and take months to exchange


I'm just wondering if anyone's been in this situtation? I've said I'm not increasing my offer. So the EA said he'll leave it a few days and then go back to the vendor and try and get him to accept lower than £90.... That seems a little odd to me. But I think it's coz the EA thinks the vendor should accept, but its the vendors choice obviously.

SecondLegDownIsTheBigOne

Your initial offer was too high.

Now that the horse has bolted, offer £84k and leave the offer on the table but reducing by £1k a fortnight.

Running_Horse

drummer_666 wrote: »

I can afford it, but I am put off because it is not strictly chain free.

That doesn't affect the value much. Either you want to secure it now, or you want to tough it out and risk losing it. Nothing much we can say to make the vendor accept your offer.

drummer_666

SecondLegDownIsTheBigOne wrote: »

Your initial offer was too high.

Now that the horse has bolted, offer £84k and leave the offer on the table but reducing by £1k a fortnight.

I don't think my opening offer was too high and I'm not decreasing my offer!!

I also know that by reducing my offer by £1k a fortnight, that really won't get me anywhere. They aren't in a hurry to sell.

BUT is there anyway I can say ok, I'll do a deal at £90k BUT if we have not completed within 12 weeks then my amount will reduce to x amount. If not completed in 16 weeks, reduce to y amount

sjlou

i think youre answering your own question really...

the vendors are in no rush to complete, so why should they accept your offer now, when they could hold out for an offer nearer to the asking price?
if you realy want the house, offer your max price that you are willing to pay.
If you dont think its worth the full asking price, then leave your lower offer on the table and start viewing other properties with the agent

JQ.

How can you make them complete in 12 weeks if they are not planning to move out until October?