Are our vendors playing games with us???

franklee

BobQ wrote: »

Opinion is always better that fact. The second offer was made. It was not accepted nor was it rejected nor was it withdrawn. Four days later the vendor tried to accept that offer, the buyer decided to withdraw it. Both sides are within their rights to do this, but your speculation is not consistent with the stated facts.

You have a really strange reading of the OP. There is no stated we'll think about it from either side, you've just read that in for yourself. I certainly wouldn't read a vendor saying they want full asking price as anything other than a rejection of the below asking price offer they were responding to. At the very least it's asking the potential buyer to offer more which the OP was clear he declined to do. End of negotiations! It's the vendor who then changes their mind.

hotpot1000

the FTB have done nothing wrong, all the sellers would love a FTB to help a chain along,
The vendors refused the 275 so they are lucky if the FTBs are considering making any further offer, vendors are more desperate to sell than the FTB are to buy.
stick to ur guns, if you want to offer 270 then do so, there are plenty more houses for you to look at

BobQ

franklee wrote: »

You have a really strange reading of the OP. There is no stated we'll think about it from either side, you've just read that in for yourself. I certainly wouldn't read a vendor saying they want full asking price as anything other than a rejection of the below asking price offer they were responding to. At the very least it's asking the potential buyer to offer more which the OP was clear he declined to do. End of negotiations! It's the vendor who then changes their mind.

You think I am reading something into the OP? All it states is that the OP made a "final offer" and heard nothing for four days! I read no more into it than that but clearly you did. Still the information was incomplete it appears and the matter is sorted.

But as a general principle I see nothing wrong with making a final offer and letting it stand while the vendor sees if they can get a better price. Not accepting is not a rejection. How can it be an invitation to make a higher offer when the offer was a "final offer". I once sold a house and received an offer from someone who said this is the most I can afford. I said OK if I do not get a better offer within a week I will come back to you and see if we can do a deal, which happened. Had they reduced their offer I would have carried on marketing it.

ValHaller

BobQ wrote: »

You think I am reading something into the OP? All it states is that the OP made a "final offer" and heard nothing for four days! I read no more into it than that but clearly you did. Still the information was incomplete it appears and the matter is sorted.

Let's see what it says

WexfordWarrier wrote: »

Our first offer was quickly rejected, so we made a second offer of 275k. The estate agent got back to us and said because the property had just gone on the market, the vendors were confident that they would get the full asking price. As we had some issues with the garden and parking we said that £275k would be our final offer.

We heard nothing for four days and then got a call from the estate agent. It turns out that the vendors have already had their offer accepted on another house (with no chain) and now needed to move quickly.

You are missing

• the response to the offer - "vendors are confident that they would get the full asking price" which reads to me like a polite rejection and invitation to offer FAP
• OP saying "£275k would be our final offer"

There is a lot of nuance in what has happened here - done in a polite and tentative way so as to leave communications open. But as I see it, negotiations had finished without agreement.

Now I can understand the vendors being miffed that they had turned down 275 and the new offer was 270. But overall given the choice between kicking themselves for missing the opportunity and cutting off their noses to spite their faces and rejecting the new offer ......

BobQ

ValHaller wrote: »

Let's see what it says



You are missing

• the response to the offer - "vendors are confident that they would get the full asking price" which reads to me like a polite rejection and invitation to offer FAP
• OP saying "£275k would be our final offer"

There is a lot of nuance in what has happened here - done in a polite and tentative way so as to leave communications open. But as I see it, negotiations had finished without agreement.

Now I can understand the vendors being miffed that they had turned down 275 and the new offer was 270. But overall given the choice between kicking themselves for missing the opportunity and cutting off their noses to spite their faces and rejecting the new offer ......

OK lets agree to differ - we are both reading intent into incomplete information!:)

To me the clue is in the title "Are our vendors playing games with us??? "

ValHaller

BobQ wrote: »

OK lets agree to differ - we are both reading intent into incomplete information!:)

To me the clue is in the title "Are our vendors playing games with us??? "

To me, what you identify here as the key question relates to what transpires after the rejection of the offer of 275. So in other words, most of the debate on this thread relates to the premises on which the question was asked - not to the question itself.

franklee

BobQ wrote: »

You think I am reading something into the OP? All it states is that the OP made a "final offer" and heard nothing for four days! I read no more into it than that but clearly you did. Still the information was incomplete it appears and the matter is sorted.

But as a general principle I see nothing wrong with making a final offer and letting it stand while the vendor sees if they can get a better price. Not accepting is not a rejection. How can it be an invitation to make a higher offer when the offer was a "final offer". I once sold a house and received an offer from someone who said this is the most I can afford. I said OK if I do not get a better offer within a week I will come back to you and see if we can do a deal, which happened. Had they reduced their offer I would have carried on marketing it.

No. The OP reiterated that the 275K that the vendor has rejected wanting full asking was their final offer. In other words they confirmed that there would not be a higher offer in the face of their 275K being rejected. There is no statement of them making the 275K offer again after being told it wasn't enough or leaving it on the table. You have chosen to read that into the post but if you look again it's not stated the OP re offered the 275K after being told the vendor wanted full asking. You can't turn an offer down and then expect it to still be on the table unless you have been told explicitly it was.

Thrugelmir

ValHaller wrote: »

Now I can understand the vendors being miffed that they had turned down 275 and the new offer was 270. But overall given the choice between kicking themselves for missing the opportunity and cutting off their noses to spite their faces and rejecting the new offer ......

Maybe the vendors had managed to negotiate a deal on the property they were purchasing. Which allowed them to accept £275k.

moneyistooshorttomention

franklee wrote: »

. You can't turn an offer down and then expect it to still be on the table unless you have been told explicitly it was.

Beg to differ on that. I would look it the other way round - that the offer was still there unless I was told it wasnt.

If I turned an offer down for being too low, then I would expect one of the following to happen:

- they come back with a higher offer within the week or


- the offer remains on the table unless they specifically state they are no longer interested in the place or

- they say nothing whatsoever and, after a week, I have decided for myself that they've gone off into the wild blue yonder and I will never hear from them again but, if by some chance, they do reappear after all - then their previous offer still stands unless its been so long ago that the house has gone up in value since and we start from square 1 again.

I would NOT assume that they would reappear at some point with a lower offer. The highest amount they had stated to date would be what their offer to me was and, if I had rejected it, then that would be "game over" for them as possible buyers of my place. The thought wouldnt even have crossed my mind that they would still be interested in my place and I would regard them as being a bit cheeky/having a gazundering tendency if they then reappeared with a lower offer.

GDB2222

moneyistooshorttomention wrote: »

Beg to differ on that. I would look it the other way round - that the offer was still there unless I was told it wasnt.

If I turned an offer down for being too low, then I would expect one of the following to happen:

- they come back with a higher offer within the week or


- the offer remains on the table unless they specifically state they are no longer interested in the place or

- they say nothing whatsoever and, after a week, I have decided for myself that they've gone off into the wild blue yonder and I will never hear from them again but, if by some chance, they do reappear after all - then their previous offer still stands unless its been so long ago that the house has gone up in value since and we start from square 1 again.

I would NOT assume that they would reappear at some point with a lower offer. The highest amount they had stated to date would be what their offer to me was and, if I had rejected it, then that would be "game over" for them as possible buyers of my place. The thought wouldnt even have crossed my mind that they would still be interested in my place and I would regard them as being a bit cheeky/having a gazundering tendency if they then reappeared with a lower offer.

This whole thread is entirely bizarre. First it became like a bible study class, trying to infer what the OP meant by analysing the text of his messages in great detail. Second, people say what they 'expect' from an offer, which clearly differs as there is no universal practice.

Nobody sensible would leave an offer open, and it strikes me the OP is quite shrewd, whereas some of the other posters are simply naive.