Dealing with the deluded.

beegees_2

DRP I think you are right. Our offer is also 91% and I suppose if the vendor believes there is a more than reasonable chance of getting an extra few percent in 6 or 12 months then it's the best place for his money to be at the moment.

pinkteapot

You can't deal with them. We bought in 2010 and were looking from late 2008 till March 2010. There are some houses that we saw that are still on the market. Entertainingly, one has increased in price.

ILW

beegees wrote: »

I am in the same situation as abaxas. We've made 3 offers on a house, increasing each time to a price that we believe is more than fair. The EA agrees that the vendor is deluded as to the price he is looking for, and that our offer is probably the best they are going to get, but can do no more to reason with a very stubborn vendor.

The vendor is retired and seems happy to leave an empty family home on the market for as long as it takes to get a few grand closer to the asking price.

The EA says he's seen this before, that the house will sit on the market for a year and will end up selling for less than what we've offered, and the vendor will have lost out on their best offer.

We sold our house in 3 days (it was realistically priced and in pristine condition), and are renting. We thought our position would give us an advantage in negotiating, so far, this is not so!

I would suggest that if it sold in 3 days, it was underpriced. Oh well that's thousands of pounds lost forever.

phoebe1989seb

I agree with what other posters have said - you can't deal with them........last year when we were selling/buying we attempted to view a property we were interested in that was some 150+ miles from where we were then living. Despite numerous attempts the EA was unable to get hold of the vendor and didn't believe it was because they were away as they thought they would have been informed/left a key if that was the case.

Eventually we gave up as it was not practical to wait - we found another prooerty and within three months of putting our house on the market we had completed on both our sale and purchase (we sold within two weeks because needing to move quickly, we had deliberately priced realistically!), but 18 months later that house is still for sale with only a slight price drop. The real story here though is that it has actually been for sale (on and off) since 2007 :eek: