Dealing with the deluded.

abaxas

motherofstudents wrote: »

You said you have only been looking for 4 weeks but doesn't your OP say you've been looking for a year ??

You probably missed that bit. We bought but pulled out due to water issues.

As in we have been back on the 'market' for 4 weeks now. But looking for a year, of which 4 months was trying to sort out that house!

zagfles

SLITHER99 wrote: »

There are deluded buyers equally as there are sellers!

I had my flat up for £160k. I was given several offers in the £120-130k region. It took me 8 months, but I got full asking.

I don't see why I should give a "bargain" just because you don't fancy paying fair market prices! I'd bet a crisp £10 note that if it was you selling, you'd be singing a different tune!

My friend could have written that in reverse :rotfl:

He was looking for house/flat around that sort of price range, his tactic was to offer about £30k below asking price. After a few months getting offers rejected he detected particular desperation in a seller and cheekily offered £50k below! Rather than laughing at him, they negotiated and he ended up paying £125k for a flat which on the market for £159k!

And it only took him 6 months

richardw

zagfles wrote: »

...he ended up paying £125k for a flat which on the market for £159k! ....

Sounds like a flat with not a very long lease.

RenovationMan

abaxas wrote: »

One for people who wish to sell and price according to the market. They get offers, they sell, they move on with their lives. Then comes the second set, the people who simply cant understand why their property is not selling. They reduce their asking prices, the remarket with different EAs, they get friends to do a special in the local rag, etc. But still no offers, no sale. Why? The answer is almost always price. Everything has one, just they have decided they wish to sell at a price no-one is willing to pay.

The same could be said for buyers. Sellers want to get the best price for their house, buyers want to get the best price for their money.

Buyers will see a house that they like but if they can't negotiate the price down to what they want to pay then they then fall into two sets of people. One set will sit down and decide if they really want the house at the price the seller has set and if they can really afford it. If they can then they will make an offer, buy the house and move on with their lives.

Then comes the second set, they will refuse to budge from the price they have set in their heads and will look elsewhere until they find something that does fall within their 'notional' price range. Often they don't want the houses that are in their range, they want nicer houses in nicer areas. They often search for years, become bitter and twisted and post on the internet about how unrealistic sellers are, without realising that they are, in their own way, being just as unrealistic.

zagfles

richardw wrote: »

Sounds like a flat with not a very long lease.

Why, is that the only reason for overpricing a flat? Actually I think the reason was that the seller had got a job abroad needed to get the flat sold asap. But the moral is the same.

If sellers hang on long enough they might be lucky and find someone desparate enough to pay an inflated asking price. If buyers hang on long enough they might be lucky and find someone desparate enough to accept a massive cut on the asking price.

Alteratively they might never end up buying/selling and moving on with their lives.

abaxas

RenovationMan wrote: »

The same could be said for buyers. Sellers want to get the best price for their house, buyers want to get the best price for their money.

Buyers will see a house that they like but if they can't negotiate the price down to what they want to pay then they then fall into two sets of people. One set will sit down and decide if they really want the house at the price the seller has set and if they can really afford it. If they can then they will make an offer, buy the house and move on with their lives.

Then comes the second set, they will refuse to budge from the price they have set in their heads and will look elsewhere until they find something that does fall within their 'notional' price range. Often they don't want the houses that are in their range, they want nicer houses in nicer areas. They often search for years, become bitter and twisted and post on the internet about how unrealistic sellers are, without realising that they are, in their own way, being just as unrealistic.

What about the bitter and twisted sellers? That is exactly what this thread is about.

People who cant come to terms with the fact that no-one else loves their house enough to part with £200k more to buy it. Buyers tend to buy the one down the road, which is larger, better situated and with more land. There is no harm in being optimistic. I might be seduced by Kelly Brooke. But that is unlikely so I dont rest my hopes on it!

But you may argue that someone might 'fall in love with the property'. But I'd argue if you are looking for love over 3 years and no-one offers you a date, maybe it's time to try a different strategy.

I still cant make up my mind, insult or avoid. Currently avoiding, like everyone else.

equus

robatwork wrote: »

Don't really get this. For example if your budget is £200,000. Would you not see a house priced over £200,000, or one that you think you can GET for £200,000? Or one that you think is overvalued at £205,000?

A house priced at £230,000 may well take £200,000 in the right situation - would you miss seeing that one?

You have a good point but to answer your question (or try to!). My upper budget I suppose is quite fluid due to if I buy cash, or use a small mortgage (or a larger mortgage!) plus the amount of deposit, in addition to if the property requires renovation etc. I find this quite a difficult position for an EA to understand. So yes I would view the property in your example priced at £230k.

Back to the OP, i think it is a situation with many vendors that once the asking price figure is in their mind, they believe the money is in the bank, therefore any offer below this price, they think you are taking away "their" money. In addition offering below an asking price, irrespective of the percentage, many EA become miffed as ultimatley you are questioning their ability to value a property correctly!

Itismehonest

abaxas wrote: »

What about the bitter and twisted sellers? That is exactly what this thread is about.

People who cant come to terms with the fact that no-one else loves their house enough to part with £200k more to buy it. Buyers tend to buy the one down the road, which is larger, better situated and with more land. There is no harm in being optimistic. I might be seduced by Kelly Brooke. But that is unlikely so I dont rest my hopes on it!

But you may argue that someone might 'fall in love with the property'. But I'd argue if you are looking for love over 3 years and no-one offers you a date, maybe it's time to try a different strategy.

I still cant make up my mind, insult or avoid. Currently avoiding, like everyone else.

Your problem seems to be that other buyers have the extra £200K to buy the bigger, better property.

I'd quite like an apartment in Monaco ..... but such is life, abaxas.

We can all only afford what we can afford. The best houses will always be beyond the reach of most of us.

I'm sorry to say that it isn't the sellers who are coming across as bitter & twisted. It really seems that you are looking for something outside your price range unless sellers knock a very significant amount off which they don't feel they have or want to do. It is their house. They'll sell it - eventually - at a price they can live with.

RenovationMan

abaxas wrote: »

But you may argue that someone might 'fall in love with the property'. But I'd argue if you are looking for love over 3 years and no-one offers you a date, maybe it's time to try a different strategy.

Maybe you have to be realistic and take a good look at yourself in the mirror. If you look like Joe Pasquale and you're trying to find love with super models, then you're in for a loveless life.

Similarly, if you have been looking for the right house at your right price without success then perhaps you do need to try a different strategy, one that has a more realistic view of what people are willing to sell their nice houses for.

If you can't get Kelly Brooke, then perhaps it's time to set your sights on Kelly osborne...



And 'do her up'....

abaxas

equus wrote: »

Back to the OP, i think it is a situation with many vendors that once the asking price figure is in their mind, they believe the money is in the bank, therefore any offer below this price, they think you are taking away "their" money. In addition offering below an asking price, irrespective of the percentage, many EA become miffed as ultimatley you are questioning their ability to value a property correctly!

I think you've hit the nail on the head. If someone told them its worth X, it has to be worth X. Then marketing proves or disproves X.

Maybe I'm wrong but 3 years of marketing, or should I say 1-2 months of marketing followed the EA not giving a damn, usually means X is wrong.

One thing I have noticed with EAs is they send the rabid attack dogs when they sniff a sale. But the guy who puts up the for sale signs, when they dont think it's worth it.