Would you be offended if someone offered under asking price?

moneyistooshorttomention

thequant wrote: »

A property I enquired about, the EA said, "It's been on for 7 months and there has been absolutely no interest at all"

Did you ask the EA what on earth the poor vendor had done to upset him so much (stolen his girlfriend/turned down his best mates job application/etc?).:eek:

In your position I don't think I would have been able to resist asking the EA "What on earth has that vendor ever done to you?:cool:"

mrsbmartin

I agree that I was quite suprised that the EA told me the only offers on the property were c.£50k. However, as I've thought about it - that knowledge did make me put in an offer of £70k. If I hadn't known that info I would have probably started at £66k. Knowing that the vendors wanted to achieve £85 and had only been offered £50 made me want to start a tad higher in the hope that it wasn't completely disreguarded as a joke and yet remained at a price I was comfortable with. So although I wouldn't have thought it was good practice to release such info, in this case it did induce me to put in a higher offer.

tunnel

Tancred wrote: »

Not just the station over my dead body. There is a short distance to the town centre traffic nuisance, you are a few yards from the river flooding and there are numerous shops and restaurants only minutes away late night louts by foot or by car. In brief, it's a perfect location and convenient for just about anything. That's why I bought it in the first place.

Yes, you can find loads of 3 bed terraces around Reading for under £250k but in the immediate area near me (quarter mile radius) I've seen only two similar properties at £250k and both have smaller bedrooms and tiny gardens. Also, neither are in such a prime location very near the river.

Also, don't forget the being able to walk to the station is very important if you are a commuter. Given the huge cost of parking at the station you can save thousands in the long run.

Problem for you is your idea of perfect is my idea of hell,but IF i had to live there i'd want it at a knock down price.

I once offered £240k on a house priced at £285k,i thought it was still close to the SDLT. Vendor turned me down. The house sold 6 months later for £240k. If the vendor hadn't had the L'oreal effect(cos their house is worth it) they'd have sold it 6 months earlier.

Wywth

al_1232 wrote: »

Random question here and I know this will definitely depend on your individual personalities and obviously what you expect to sell your house for (ie. I think most people say for example sell their house with a buffer, advertised at £80k but would settle for say £75k).

Anyway we have underoffered today (£75k on an offers £77500) and plan to have a bit of legroom to up this if we need, but are starting to consider if the sellers may end up offended etc. (especially as they have fitted new carpets, leaving white goods etc.)

Anyway, just wondering - would you personally be upset or offended if someone offered less than you have asked for? Or would you shrug it of, reject and ask them to up it?

Also, typically when you / seller rejects an offer is it practice to indicate what you would settle for instead? Or would you just point blank reject?

Have you ever watched Location, Location, Location?

thequant

moneyistooshorttomention wrote: »

Did you ask the EA what on earth the poor vendor had done to upset him so much (stolen his girlfriend/turned down his best mates job application/etc?).:eek:

In your position I don't think I would have been able to resist asking the EA "What on earth has that vendor ever done to you?:cool:"

I think the EA thought it was overpriced, after seeing it ourselves and doing our homework it was the conclusion we came to.

House is on a street were all the houses are carbon copies of each other. Peak price was £245k in 2007, plenty sold since then for around £240k.

Vendor is asking for £275k and is refusing to entertain offers at or below the stamp duty threshold.

The_Earl_of_Streatham

Tancredi, I'm surprised you're not more amenable to offers.

Is there some special reason why a house that you thought was worth £225K in 2005 is now worth £267K? That's a £42K (nearly 19%) premium for what looks like nothing more than the passage of time. Those intervening years have seen an end to easy credit and wages haven't risen much even in the Royal County of Berkshire. There's a house just up the street from you that lost nearly that much value in six months during 2006.

Looks like a nice area, though. Good thing too, because you'll be living there for a while yet.

thequant

The_Earl_of_Streatham wrote: »

Tancredi, I'm surprised you're not more amenable to offers.

Is there some special reason why a house that you thought was worth £225K in 2005 is now worth £267K? That's a £42K (nearly 19%) premium for what looks like nothing more than the passage of time. Those intervening years have seen an end to easy credit and wages haven't risen much even in the Royal County of Berkshire. There's a house just up the street from you that lost nearly that much value in six months during 2006.

Looks like a nice area, though. Good thing too, because you'll be living there for a while yet.

What's the premium for living in a "Royal County" ?

sinbad182

thequant wrote: »

What's the premium for living in a "Royal County" ?

Having to live in Reading is his premium

phoebe1989seb

Tancred wrote: »

I understand the issues surrounding the stamp duty threshold, however we need to have offers close to the asking price. I'm not naive, I just know what I want. The market has changed but in the south-east it's still pretty hot in some areas and anywhere with easy access to central London will attract interest. By the way, there is a 2 bed flat 50 yards from where I live on the market for £375k - OK, it's overlooking the Thames, but even so.

Tancred, everyone can say what they *need* and *want* in order to be able to trade up, but doesn't mean they're going to get it!

We sold our family home on the South Coast in 2007 - it was on for just under £600k. Our buyers offered £5k below the asking price and we readily accepted, but times have changed......even in the 'rich and cluttered' South East. In 2011 we sold another property, having spent £40k on dragging it out of the 1980s - despite being in the South East we fully accepted that we were going to lose money on what we'd paid in 2007 and marketed accordingly.

As our circumstances were different to Tancred's because we desperately wanted to relocate closer to family, we weren't prepared to price higher and hold out for what we'd paid - we accepted an offer around £10k less than our asking price, but overall *lost* approximately £60k taking into account our overall spend. We sold within the first two weeks though, which was our aim A neighbour (totally different style and size of house) is still on the market some two years later, having ignored the advice of his EA regarding price and having barely reduced it over the intervening years

Good luck though - with that number of viewings in the first week you may get lucky......although I'd hazard a guess there'll be more offers at £250k......personally though it would have to be something really special to persuade me to buy in Reading!

Tancred

phoebe1989seb wrote: »

Good luck though - with that number of viewings in the first week you may get lucky......although I'd hazard a guess there'll be more offers at £250k......personally though it would have to be something really special to persuade me to buy in Reading!

From that really snotty remark and your hugely expensive house I would assume you are just a pretentious 'Margo Leadbetter' type snob.