Bidding against current tenants of house - how should we play this?

Bossworld

If you really wanted it, why put in a "low(ish) offer which we knew would probably be rejected"? Hate this tactic in every walk of life, be it house buying/selling, online forum trading or ebay 'best offer'. For me at least it doesn't make me want to deal with that person, it's something of a kick in the teeth.

thelem

Bossworld wrote: »

For me at least it doesn't make me want to deal with that person, it's something of a kick in the teeth.

It's a negioating tactic, and a pretty basic one at that. The vendor will often be expecting it and many vendors will reject all first offers for that reason. Nothing in house buying / selling should be taken personally, so there should be no teeth to kick.

sunflower_2

we rented a property for a while with the full intention of purchasing it should we like the area/neighbours etc.

(the house was originally available for sale/rent).

we were there for about 6 months before we decided we hated the house and the neighbours and therefore left the house as soon as we could.

had we liked it - we would have remained tenants for as long as possible, with no firm commitments and would have therefore waited until an offer was received and proceeded from there.

perhaps therefore - the tenants on this property had the same idea - only committing to buy the property when someone shows interest?

there are other houses - this is and was probably always going to be their home

good luck with the hunt

Bossworld

thelem wrote: »

It's a negioating tactic, and a pretty basic one at that. The vendor will often be expecting it and many vendors will reject all first offers for that reason. Nothing in house buying / selling should be taken personally, so there should be no teeth to kick.

I'll rephrase it, if you really want the house, why go in at a much lower sum than they'd ever sell for and risk the vendor seeing you as a time waster. By all means go in lower but why go 'lowish' just for the sake of playing the game? From the OP it was reduced by 42k to a 'fairer' price. i guess without knowing their exact offer its difficult to determine what 'lowish' is but it certainly hasn't worked in this thread.

When we bought this house it was on the market for 134k. We could have gone in at 120 and ended up going up and splitting hairs to try and save 500 quid at 124,500 but our first and only offer was 125,000. Said we wouldn't pay any more due to stamp duty and that was that, exchanged very quickly with no hassle or worries. We wanted the house, we knew what we were willing to pay for it, so no, you don't always have to play the bidding game.

Away from houses and on to a daily scenario, the likes of hotukdeals and avforums have classified areas where people seem to expect a reduction on the advertised price. All it leads to is people raising the asking price. If its a ten quid item I'd sooner just list it at £10 rather than putting £14, getting offered £8 then eventually settling at £10 anyway. I realise its the done thing in house buying in the current economic climate but I'm not a fan.

ruggedtoast

Something very simple is being made very complicated. If you want the house and are prepared to pay more then bid higher.

Unless its a lot higher you will probably be told no, but at least you will know.

I think your dislike of the current tenants is childish actually. You both bid and they won and you lost. At the moment.