3rd offer rejected at 10k below asking price - pleaseadvise

mezebu1

Hello all,

Saw a house that ticks all of our boxes except that the front door is a bit close to the street side walk; house appears reasonably priced at 335k relative to other houses with same size and layout in the area (houses in nearby streets at £349,995k, £349,500, and £365k...the £349,500 is sstc already...Now there really isn't any reason sales in the area to compare prices with...except another sstc with 325k asking price (same street but requires lots of redecoration)

The one we want went on the market twice last year but sale fell through for apparently genuine reasons (1 found out later that she couldn't afford, the other couldn't get a mortgage!!!) and so the house only came back to the market in April, 2013. We have offered 315k last friday (rejected straightaway, with 'we want something close to asking price' feedback from vendor), increased to 321,500 on saturday (also rejected for same reason). We offered 325k as our final no going back offer on Tuesday evening and that has also been rejected.

Now, we don't want to pay more than the house is worth and our limit is around 328k. How do you think we should go about the negotiations. Thinking we should book a 3rd viewing to negotiate with vendors and get an idea of what exactly they want to enable us know if to walkaway or not? What's your view on this? We have also booked a 2nd viewing on the 349,995k one through same agency to enable then tell vendor of the one we want that we are moving on, but EA appears not flustered and has arranged the viewing, EA also gave me the lines that there are lots of interest in the property and I'm wondering if that true, why is it still on...:(

How much do you think the house is worth? Do you think the vendor is being greedy?

This is the rightmove link
http://www.rightmove.co.uk/property-...?premiumA=true

Great thanks

Better_Days

Sorry, but your link is just taking me to RM for sale page. Could you try posting again?

pops5588

If it is like you say, the house appears reasonably price for where/what it is and the state its in at face value, it may therefore not be massively unreasonable for them to be expecting the asking price. Some people price their properties for a quick sale.

If your absolute limit is £328,000 and you love the house, then it is maybe worth putting that forward to the EA as absolute stretch and after that you're walking away.

R_P_W

Being greedy? You have not offered an amount they are willing to accept - simple as that really. Either offer more or move on

ghosti

if its already priced at 15k less than nearby streets then maybe it is priced to sell by the seller. your final no going back offer of 325 was obviously not enough for the seller.

it all depends how much you think it is worth compared to similar properties and how much it is worth to you.

bebewoo

If you are looking at £349k properties too the EA may think that you have £349k to spend, and so is telling the vendor that you may have more money available.

vuvuzela

The estate agent is unlikely to take you seriously if after "We offered 325k as our final no going back offer on Tuesday evening", you go back with another 'final offer', or otherwise think that you can be screwed out of more money.

Tixy

Another viewing now will tell them you are considering offering more.

Have you told the EA you want to leave the offer on the table in case the vendor reconsiders?

I'd leave it another week before doing anything on that property.

But I also wouldn't be looking at properties around £350k if your max is £328k and if you are only doing it to prompt the EA to report it to this vendor.

quotememiserable

You seem to have cornered yourselves. I suggest you decide what is the most you can really go to and offer that, then you'll have no choice but to move on if its rejected. Is 328 really your very very top? What's stopping you from finding 2k more and going with 330?

ghosti

was your 'final offer' really your final offer?
if not then you prove yourself to be untrustworthy to the EA and the seller

redskyatnight_2

Nothing coming up for me sorry OP.