Offer on my house from investor

neverdespairgirl

moneyistooshorttomention wrote: »

....... they may not have the courtesy to come back and make another offer or say "End of subject...I wont be making a higher offer".

Are they being plain rude and not even saying "End of subject" or are they trying to make me sweat?

I don't see why it is lacking in courtesy or rude at all.

They made you an offer. You declined it. There is not necessarily anything further to say, and certainly no obligation to say anything at all.

Why do you think it is rude?

Thrugelmir

moneyistooshorttomention wrote: »

Are they being plain rude and not even saying "End of subject" or are they trying to make me sweat?

Nothing to discuss. You declined their offer. They'll return if there's room for negotiation on their side.

Better_Days

I don't think they are trying to make you sweat Money. I think the investor will have done their sums and worked out the percentage return they hope to get as a result of the offer they have made.

I suspect that as far as they are concerned there will be other properties that will come onto the market where they can make the return that they want, so if you don't accept their offer they aren't going to cry into their tea.

May not be worth counter offering in this case but when you get your next offer it will, I think, be worth considering. Both sides then get an idea of how far apart they are, and if it is worth negotiating further.

Some vendors seem to think that if they don't counter offer then the buyer will just keep upping their offer. It doesn't always work like this, and potential buyers may bow out at a lower amount than they may have done otherwise because there is no negotiation and it all seems so open ended. I would consider paying a bit more than I wanted to for the right property if the vendor was prepared to accept a bit less than they wanted to achieve to secure the sale with a chain free cash buyer. But this process only works if the vendor gives feedback to the buyer.

jmt

Why should an 'investor' want to play games. I have a few rentals and when I look at buying I never tell the agent what my budget is, just that I would like to view. As far as I am concerned, you finished the communication by saying "No - not accepted". One of the properties I now own I placed an offer and was told exactly the same, the EA rang a few days later to ask if I was considering it and I told them I had offered and been rejected. About 3 months later they rang to ask if I would still be interested as the vendor would now accept my offer, I actually got it for £5000 less than my original offer.

DRP

They may come back but their lack of response doesn't indicate anything significant to me.

A word of warning on 'investors' - a family member of mine has recently accepted offers from 2 different investors (a couple of months apart). In each case the 'sale' fell through (the first after 6 weeks, the 2nd after a few days) because the investors had made simultaneous offers on a handful of properties waiting to see who they could force down to the lowest price... it is useful to get an honest appraisal of the buyer from your EA (if possible).

phoebe1989seb

DRP wrote: »

They may come back but their lack of response doesn't indicate anything significant to me.

A word of warning on 'investors' - a family member of mine has recently accepted offers from 2 different investors (a couple of months apart). In each case the 'sale' fell through (the first after 6 weeks, the 2nd after a few days) because the investors had made simultaneous offers on a handful of properties waiting to see who they could force down to the lowest price... it is useful to get an honest appraisal of the buyer from your EA (if possible).

Similar experience here.......

Last Summer we were selling my parents' house - on at £265k, expecting offers of £250k max 'cos of SDLT - and within the first month had an offer of £250k from an investor which we accepted.

Two days later their offer was withdrawn.......apparently they had contacted the local council to enquire if they'd get permission for a dropped kerb outside the house (not really necessary as there was already a garage and driveway plus the potential to extend the garage, but I guess they may have been considering multiple tenants with several cars) and were told it wasn't possible.

We never met the investor as we live out of the area, but at the time I thought this seemed a bit odd - especially as they'd offered so high when IMHO the house wasn't really typical buy-to-let material and wondered how serious they actually were. With the benefit of hindsight perhaps they used the dropped kerb issue as an excuse and had also offered on several properties.........

chickaroonee

what price is it on for and what did they offer?

Have to agree with everyone else, you said no so why would they negotiate further - the ball is in your court.

moneyistooshorttomention

Thanks everyone for replies.

I am rather coming to the conclusion that this investor has probably thrown low offers at several properties at the same time to see who is desperate enough to accept and not expect any negotiations.

From what people are saying, it seems that most people expect a refusal of offer by vendor to be accompanied by "Vendor might consider £x" (naming a tiny bit less than asking price) and that maybe a noticeable number of offerers are expecting a "I would take £x" response - rather than just a "No", followed by the vendor waiting for them to offer some more.

EDIT: and there's me scrupulously giving feedback on the houses I am viewing and answering vendors questions....

Bit of a shock to be looking somewhere where its usually the vendor who shows you round (not like my area). By now, I think I'd rather it was an EA this end of proceedings too....as it makes me feel awful looking at these sellers' eyes and seeing the pleading look in them that most of them have hoping they have found a buyer at last ...and I feel its only fair to tell them straight what the chances are that I will want their particular house (especially as I'm finding this is such a friendly area here).

I've not sold a house before - so thought vendors do just say "No" to an offer that is too low and then sit back and wait for either (hopefully) a further higher offer or two or three from this buyer on the one hand OR the offerer saying "Sorry, I cant go any higher, so I'm not interested any more" on the other hand.

So I guess next offer (from anyone) gets met by a response from me saying "Vendor might consider £1,000 less then" and wait, hopefully, for a higher offer?

chickaroonee

It's negotiation - you have to give an idea of what you are looking for! If you want asking price only surely you're better selling at a fixed price? Although you'll still get offers I would've thought.

Will you only really sell asking price -1k?

What are you selling at and what was the offer?

moneyistooshorttomention

chickaroonee wrote: »

It's negotiation - you have to give an idea of what you are looking for! If you want asking price only surely you're better selling at a fixed price? Although you'll still get offers I would've thought.

Will you only really sell asking price -1k?

What are you selling at and what was the offer?

Asking price £170,000. Offer was £160,000.

The one positive thing to take from this is that if even an investor comes out with £160,000 then I will definitely get not that much less than my asking price (as often happens in my own area). I'd read so much about just how low investor offers tend to be that I was rather surprised that they didnt come out with an offer of £140,000 in fact - and guess they don't dare try such low ones in my area.

The price I have been told to expect to be paid is £167,000 plus.

Re "fixed price" prices - they don't tend to happen in my area. I dont recall anyone doing that. Also, I've seen all the comments on here that buyers tend to ignore "fixed price" and still make a lower offer anyway - so its a waste of time to say that anyway.