Seller insists on asking price - is that normal?

Tinkaf1

That is hilarious!!!!!

BJV

zappahey wrote: »

Consistency, eh?

OK point taken. I tried it on when buying my house but I don't think I would of liked it if the shoe was on the other foot.

BJV

ilikewatch wrote: »

Ah, reminds me of a buyer a couple of years ago who told me he loved the house but did't like the recently fitted kitchen and integrated appliances so would I take 2k less than asking price to reflect the fact that he would be ripping out the kitchen and replacing it? I said no, and told him that I would take 1k under asking price but would take the kitchen with me - he agreed.
3 weeks later he bought the same kitchen and appliances from me on eBay - for £1300 - I wish I had a photo of his face when he came to collect it and recognised me :-)

Good for you. Bet he was gob smacked.:rotfl:

geoffky

BJV wrote: »

Wow glad we are not planning on moving any time soon. I have only sold one house and it was on the market 2 hours and sold for full asking price. Don't think I would have liked people trying to chip me down but thankfully it did not happen. ( I am more a this is the price, it is fair and not over priced, no messing take it or walk person )

Have to say thought then when we bought this one we did the same offered lower and ended up paying £1000 less than full asking. It is not what we wanted to pay and was way over budget but if the house is for you to live in then it is not just a property it is a home. We didn't mind paying a little over what we had thought was fair as it was going to be out home. Saying that looking at what they are going for now think we got a bargain! good luck.

oh dear,,,we got 120k off asking price on this one.....its knowing what cards you hold and how you play them...worked well for me every time..apart from my first house,,i bought the plot..

BJV

geoffky wrote: »

oh dear,,,we got 120k off asking price on this one.....its knowing what cards you hold and how you play them...worked well for me every time..apart from my first house,,i bought the plot..

When we I move I am hiring you:T

pimento

BJV wrote: »

When we I move I am hiring you:T

Yes, me too. You obviously have the knack.

I have a terrible poker face so if I like a house I can't hide it. I must be a vendors dream.

duchy

Depends how the price was set.
You are working on the basis that whatever the asking price was you would on principle offer below asking price.

The vendor may have decided to not mess about-has worked out what he wants to sell it for -and is asking that price -or may have decided he won't even consider offers until the property has been on the market for X number of weeks.

If neither of you are likely to budge in the short term then either the house is worth the asking price to you so offer that.......or move on.

I needed to buy a house in a hurry-original purchase fell though at the 11th hour and for various good reasons I didn't have time to hang around. I found the house I needed with no chain--it ticked all my boxes and more but had only just gone on the market so vendor rightly wasn't going to shift on price. I negociated a few extras to be included and offered full asking price conditional on completing within 28 days -not really expecting to make the deadline, We completed in 22 days and what I saved in not needing to find rented accomadation in the gap -plus two lots of removals and storage -not to mention less stress was worth more to me than the few percent I might have saved.

If it's the home you really want then you need to balance out if those few percentage points are worth it to you or not.

Pennywise

The question is whether the asking price is fair/reasonable or not. Some sellers (aided & abbetted by their EAs) put a house on the market at silly prices "to test the market" and then accept a much lower offer when it fails to attract interest at the top price.

Other sellers (advised by more realistic agents) put the house on the market at a sensible and realistic price and get a sale at close to, or at, if not above, the asking price.

If the latter, the seller probably genuinely thinks the house is priced right and has deliberately decided not to play games in the hope of a quick sale at the right price.

There's a local EA who are still selling houses because they put them on the market at a sensible price and they do get offers very close to asking price - typically 95%+ and get quick sales.

It depends on whether the vendor is wanting a quick sale or whether he wants to sit on it for the top price.

geoffky

pimento wrote: »

Yes, me too. You obviously have the knack.

I have a terrible poker face so if I like a house I can't hide it. I must be a vendors dream.

I stopped the wife visiting the 2nd time as negotiations were going on and made her view lots of other houses..
At one stage i just left them stewing knowing they had deadlines that would sink them...
My last diktat was that they should pay my stamp duty which through gritted teeth they did..
Believe me they were not my best friends but at the end of the day i was the only person paying cash and the market was on its knees and i secured a house that we will never move from

.Some people may say i was harsh but as i told them i had still left them with some meat on the bone and the bank would of skinned them...

ColaCube

I haven't read all the other replies so I'm sorry if I'm repeating.

Its so tricky knowing what to do for the best when selling/buying a house!

Originally we put our house on the market in Nov 2011, 2 or 3 different sets of viewers came and offers started coming in from 2 sets of people within 2 weeks, we'd priced it to sell with the hope people would see that, we accepted an offer from the 1st buyer for 5k under the asking price. Took it off the market and the purchase begins, after a while it becomes clear the 1st buyer can't get a mortgage/his deposit together.

Put the house back on the market early Feb 2012 (now vacant), we were unsure what to do about the price this time as we'd already bought another house and needed to achieve a certain price, as in reality the house had only been on the market previously for 2 weeks, I was worried about putting it back on for the same as before because really people won't pay the asking price however realistically you try and price it, so we added another 10k to original price to include a good knocking down allowance.

On the market for around 3 weeks and accepted another offer, 15k under the asking price, their first offer was 20k under the asking price.

It was a bit nerve wracking but we got the price we were originally hoping for. The 2nd buyers purchase went through very quickly as they had nothing to sell and were ready to proceed, so all ended very well but its all so stressful I'm glad its done!

I don't think its an exact science as it depends on so many things, everyone's views/opinions are different but it worked for us. Good Luck!