vendor won't shift from asking price

Travelqueen

Maybe they have priced it at a level which they know it will sell at, but where they also need to achieve asking price to meet costs for their new place?
I just accepted an offer today, and although only 5K above the initial offer it makes a lot of difference for me financially....

Emmzi

everyone says they will move into rented. about 1% actually do.

This one isn't meant to be, move on.

GDB2222

drummer_666 wrote: »

I didn't say they're not moving til then lol. They are not buying til then. But they will move into rented accomodation.

Hence wanting to put in a 12 week clause, to shift their asses into finding their rented accommodation

As others have said, the likelihood is that they do not have any wish to move into rented accommodation. The clue in all this is that they are moving into retirement accommodation, so they are obviously not spring chickens. It is not as if they are students who can put all their belongings into a couple of bin bags and move out in a fortnight. Your offer, so soon after they put the house on the market, is probably an embarrassment for them.

They probably approached the estate agent for a valuation, and the estate agent wanted to make sure that he signed them up straight away, so they put the property on the market straight away. The last thing the vendors really want at the moment is a buyer chasing them to complete in 12 weeks time.

I would suggest that you have 2 realistic options. The 1st is to withdraw your offer, part on friendly terms with the vendors, and come back in a few months, when they know how their retirement home build is going and are actually in a position to sell. The 2nd option is to agree to exchange contracts with the vendors but with a delayed completion to fit in with them moving into their retirement home.

Wyndham

It hasn't been on the market long, and you've made a good offer. In their shoes I'd be tempted to wait and see what else came along. In your shoes I'd move on from this one and keep looking for others. Then if you don't find something, come back to this one in a couple of months if it's still on the market.

SG27

Wyndham wrote: »

It hasn't been on the market long, and you've made a good offer. In their shoes I'd be tempted to wait and see what else came along. In your shoes I'd move on from this one and keep looking for others. Then if you don't find something, come back to this one in a couple of months if it's still on the market.

Do this, chances are something better will turn up in that time anyway.

ader42

Houses are worth what people will pay. They might get a full asking price offer next week. Or you might be the only viewing they get this year. They obviously think they can/should wait for a better offer. The ball is in your court, the main question is how much do you want the house. Personally I wouldn't be paying more than 10% below asking in this market as we all know prices will continue to fall.

Wobblydeb

I agree with GDB2222 - the best way of getting a bargain on this particular house is to give the vendors the flexibility they need and agree to fit in with their timetable.

Given the circumstances, if you want to dictate timescales, you probably need to offer asking or above.