House selling

sinbad182

You've outdone yourself with that one money.

Particular praise has to be given for use of the terms 'house price thief' and 'stealing house price capital'.

Do you ever consider the fact that these smaller, less desirable properties sell before yours at the same price because of your bizarrely distorted moral compass and frankly horrible attitude? I can't see many buyers rushing to do business with you when you frequently show the contempt you do towards them.

shortchanged_2

As we all know we are talking about gazumping here.

Now in a relatively flat/weak market it is not particularly common.

But watch the pound signs in peoples eyes when the market does recover properly. Any signs of the good old gentleman's agreement will be long forgotten. Greed generally gets the better of most people.

For what it's worth OP, I applaud your approach and wish many more people stuck with a deal.

chickaroonee

moneyistooshorttomention wrote: »

I'm keeping my "karmic bill" as a totally clean slate myself personally - so I won't have the situation where I've accepted someone stealing a bit of my house capital off me (not to put too fine a point upon it) by having accepted a stupid offer on my house.

I turned down an offer of £160k from an investor on my £170k house - rather than accept and keep trying for a more reasonable one myself.

I've been proven right at the price I set my house at - and in fact a bit of a "soft touch" to buyers as it is in that a similar house very near to mine has just sold for £170k (ie my asking price) and its one room smaller than mine and he looked shocked at me asking for that price for my (larger) house and told me my price is too low and the whole neighbourhood consensus is that my price is too low.

So - when you're already asking a price that is too low and have duly turned down a £10k lower offer (rather than accepting in theory - but not in practice) then you really have done everything you possibly can and can only sit back and wait (ie for the rest of those "new buy" houses to vanish off the market).

I've had further confirmation that in no way am I asking too much for my place by the fact that a house at the cheaper end of my street has just come up for sale at only slightly less than my price and they are cheaper area/older/rented/totally tatty can easily be seen from outside/the tenants are still living there.

So - with some of us - it really really IS the case that we aren't overcharging by any stretch of the imagination or doing anything that even a "house price thief" could regard as unethical.

I'll get my reward for being so "good" and so patient one day....;). I certainly have been known to turn positive cartwheels in order to make sure that I myself don't do anything unethical....

How long has your house been on the market? If it is really cheap/well priced you'd expect it to sell very quickly. That's the acid test.

Dan-Dan

moneyistooshorttomention wrote: »

I've been proven right at the price I set my house at - and in fact a bit of a "soft touch" to buyers as it is in that a similar house very near to mine has just sold for £170k (ie my asking price) and its one room smaller than mine and he looked shocked at me asking for that price for my (larger) house and told me my price is too low and the whole neighbourhood consensus is that my price is too low.

hmmm , why wouldnt they have bought your house instead then ?

lessonlearned

moneyistooshorttomention wrote: »

I

I've been proven right at the price I set my house at - and in fact a bit of a "soft touch" to buyers as it is in that a similar house very near to mine has just sold for £170k (ie my asking price) and its one room smaller than mine and he looked shocked at me asking for that price for my (larger) house and told me my price is too low and the whole neighbourhood consensus is that my price is too low.

.

The proof of the pudding???? Something is wrong, Money. The market is brisk and properties priced correctly are shifting.

I doubt very much that your price is too low. If that were the case someone would have snatched your hand off by now.

scaniarob

wow , i did not think this would be so debatable

let me give you some figures as this may shed some light on proceedings

house on market for 295k
was valued by mortgage co at 285k
i wanted 275 - 285k
i have agreed 263k

My next project is a barn conversion , i bought a derelict barn with 3 acres land without planning for 140k , we are confident of getting planning in next 2 weeks and local agent says it will be worth between 300-350k

i bought the barn outright - no mortgage

i feel a 20k discount on my house is fair when i can see what i will have in 2 weeks hopefully

hope this helps

rob

Old_Git

I would take the second viewing .
If they offer say £10,000 more you could split it with the original purchaser .
On the other hand you second viewer may not like your house.

lessonlearned

scaniarob wrote: »

wow , i did not think this would be so debatable

i feel a 20k discount on my house is fair when i can see what i will have in 2 weeks hopefully

hope this helps

rob

You set up a debate about ethics and morality with your original question. It was bound to arouse interest and some controversy.

I agree with your decision. I think you are acting in an honourable manner. You made a deal and are prepared to honour it.

I was heartened to read that the majority of posters agreed that your course of action is the right one.

I was, however, not surprised to read the opinions of those who think you should renage on your promise and simply sell to the highest bidder.

During my career I witnessed this far too often.

Now I am fully aware that not all EA's are honest and reputable - there indeed some charlatans around. However, there are plenty of ethical EA's who are often appalled by the antics of some of their clients.

If the Vendor wants to play fast and loose in these matters there's not much the EA can do. EA's are often criticised in these cases but the reality is, it's often the vendors who are playing dirty and who demand a bidding war.

Greed is not a very attractive character trait.

Money's comments about low offers are just red herrings. Once a deal is struck it should remain struck. The amounts involved are irrelevant. It makes no difference whether the offer is bang on the asking price or substantially less.

The principle remains the same. A deal is a deal is a deal.

When vendors accept an offer they should not then backtrack the next day just because someone has dangled a carrot in the form of a better offer.

Your project sounds great. Hope the planning app goes well.

hazyjo

Might be that the buyer is testing you and sending a friend round to see if they can get a viewing. Maybe they will offer, again to see if it's worth them spending money on something where they can't trust the seller and risk getting gazumped further down the line...

Personally, I think you've done the right thing. If it wasn't acceptable to you, you should have hung out for more and not accepted. I've been in a similar boat, and it's not in my nature to gazump or go back on my word (generally).

Jx

geoffky

moneyistooshorttomention wrote: »

I'm keeping my "karmic bill" as a totally clean slate myself personally - so I won't have the situation where I've accepted someone stealing a bit of my house capital off me (not to put too fine a point upon it) by having accepted a stupid offer on my house.

I turned down an offer of £160k from an investor on my £170k house - rather than accept and keep trying for a more reasonable one myself.

I've been proven right at the price I set my house at - and in fact a bit of a "soft touch" to buyers as it is in that a similar house very near to mine has just sold for £170k (ie my asking price) and its one room smaller than mine and he looked shocked at me asking for that price for my (larger) house and told me my price is too low and the whole neighbourhood consensus is that my price is too low.

So - when you're already asking a price that is too low and have duly turned down a £10k lower offer (rather than accepting in theory - but not in practice) then you really have done everything you possibly can and can only sit back and wait (ie for the rest of those "new buy" houses to vanish off the market).

I've had further confirmation that in no way am I asking too much for my place by the fact that a house at the cheaper end of my street has just come up for sale at only slightly less than my price and they are cheaper area/older/rented/totally tatty can easily be seen from outside/the tenants are still living there.

So - with some of us - it really really IS the case that we aren't overcharging by any stretch of the imagination or doing anything that even a "house price thief" could regard as unethical.

I'll get my reward for being so "good" and so patient one day....;). I certainly have been known to turn positive cartwheels in order to make sure that I myself don't do anything unethical....

And yet you still have not sold after how long?
You come across as someone who knows a lot but understands very little..:cool: