Nice People Thread Part 9 - and so it continues

lostinrates

silvercar wrote: »

Tie it back, or flick it over your shoulder.

Have had to tie it back, I kept humming Adams family.

chewmylegoff

michaels wrote: »

I got my recent one at 11% off and there was nothing specifically wrong with it. What amazed me is that the agents who knew I would not increase my offer seemed to be effectively negotiating on my behalf to make sure the deal was done and they got their commission - ie persauding the vendor that my offer was so solid and available so quickly thus allowing the vendor to do their onward plans that it was worth taking even though I am pretty convinced that they could have got more with some better marketing.

Well the offer is in. We have offered 15% below asking in the end. Agent did not laugh. Said that the vendor was expecting close to asking but that other viewers had baulked at the price. No other offers as yet. Church trust rules require the property to be marketed for six weeks before any sale can be agreed (presumably to stop trustees buying houses up on the cheap).

The advice I got from my builder was that we would need to spend £130k on it. If you add that £130k to what we have offered I reckon we would make a "profit" of around £40k (in homes under the hammer style this doesn't account for stamp, mortgage interest or selling costs) if we sold the house as soon as we finished the work so I don't think we've really undershot by much as the stamp alone would be over half of that).

If the seller gets asking then I will eat my hat.

GDB2222

chewmylegoff wrote: »

Well the offer is in. We have offered 15% below asking in the end. Agent did not laugh. Said that the vendor was expecting close to asking but that other viewers had baulked at the price. No other offers as yet. Church trust rules require the property to be marketed for six weeks before any sale can be agreed (presumably to stop trustees buying houses up on the cheap).

The advice I got from my builder was that we would need to spend £130k on it. If you add that £130k to what we have offered I reckon we would make a "profit" of around £40k (in homes under the hammer style this doesn't account for stamp, mortgage interest or selling costs) if we sold the house as soon as we finished the work so I don't think we've really undershot by much as the stamp alone would be over half of that).

If the seller gets asking then I will eat my hat.

As a seller, I found one of the least enticing arguments was that the house I was living in was not of sufficient quality for my buyer. By all means, make me an offer, but do not denigrate my house to justify it, please.

chewmylegoff

GDB2222 wrote: »

As a seller, I found one of the least enticing arguments was that the house I was living in was not of sufficient quality for my buyer. By all means, make me an offer, but do not denigrate my house to justify it, please.

It is a wreck which needs to be completely refurbished being sold by the church trust to whom it was bequeathed so I don't think they'll be too offended.

lostinrates

GDB2222 wrote: »

As a seller, I found one of the least enticing arguments was that the house I was living in was not of sufficient quality for my buyer. By all means, make me an offer, but do not denigrate my house to justify it, please.

Its a weird tactic. Why would people buy what they don't like as homebuyers?

When we bought I made the offers. They came back for more and I made it clear DH loved the house and I liked it but wasn't going cry if it went elsewhere.....

I think an honest...this what we are prepared to pay is fair enough. Chewy, you don't need to justify your self IMO , just do as you have done and contextualise your offer showing its well thought out and proceed able. Shrug. What do I know though.

GDB2222

chewmylegoff wrote: »

It is a wreck which needs to be completely refurbished being sold by the church trust to whom it was bequeathed so I don't think they'll be too offended.

Possibly, the church warden selling it also lives in a wreck, or would regard what you are buying as a palace well beyond his/her means? I can see little point in trying to justify the offer that way.

The position is different when you get your surveyor's report, and this shows unexpected extra work. Then, you need to detail exactly what your survey has found and why you did not factor it into your original offer.

The main advantage from the seller's point of view that you want to carry out a comprehensive programme of work (at the Seller's expense, of course) is that this means you are less likely to ask for a reduction after your surveyor has been round. So, by telling the Seller that it is a wreck, you achieve 2 things which are both counter-productive: –
1st, you risk offending the Seller
2nd, you reduce your room for manoeuvre later on




I love Machiavelli's The Prince, by the way.

LydiaJ

lostinrates wrote: »

Its a weird tactic. Why would people buy what they don't like as homebuyers?

When we bought I made the offers. They came back for more and I made it clear DH loved the house and I liked it but wasn't going cry if it went elsewhere.....

I think an honest...this what we are prepared to pay is fair enough. Chewy, you don't need to justify your self IMO , just do as you have done and contextualise your offer showing its well thought out and proceed able. Shrug. What do I know though.

Agree with suggestion not to slag off the house, but it can be good to say "the builder says xyz work will cost £abc".

X-posted with GDB

lostinrates

LydiaJ wrote: »

Agree with suggestion not to slag off the house, but it can be good to say "the builder says xyz work will cost £abc".

Contextualise the offer......:). Explain reasoning with some pristine sold prices etc...maybe even point out that I. A pointed tone if they suggest quotes are too much that there is only one way quotes could be lower, 'forensic accountant did you say?' And leave it with them.

Its easier if your poker face is real of course, part of why I put the offer in here not DH

chewmylegoff

LydiaJ wrote: »

Agree with suggestion not to slag off the house, but it can be good to say "the builder says xyz work will cost £abc".

X-posted with GDB

That is exactly what I said to the agent, plus I mentioned what the one a couple of doors down with a bigger garden sold for.

For the avoidance of doubt I didn't tell the agent I thought it was a wreck and ask him to pass that on to the church warden or to tell the church warden that I thought his haircut was rubbish or anything like that, though I take the point that there is little point presenting loads of information along with an offer because at the end of the day your reasons as a buyer for offering X are unlikely to make much different to whether the seller is prepared to accept X or not.

lostinrates

chewmylegoff wrote: »

That is exactly what I said to the agent, plus I mentioned what the one a couple of doors down with a bigger garden sold for.

For the avoidance of doubt I didn't tell the agent I thought it was a wreck and ask him to pass that on to the church warden or to tell the church warden that I thought his haircut was rubbish or anything like that, though I take the point that there is little point presenting loads of information along with an offer because at the end of the day your reasons as a buyer for offering X are unlikely to make much different to whether the seller is prepared to accept X or not.

Well, I'm thinking good thoughts for you chewy. . Don't keep us waiting too long for the update, huh?