Waiting on 'improved offer'

DilbertJones

DRP wrote: »

are you looking for an offer *at* the stamp duty threshold ie. 125, 250 or 500? or above?

what was the offer?

I am expecting it to be at, or slightly below, the threshold.

moneyistooshorttomention

Better_Days wrote: »

OP - did you make a counter offer? What does your EA say? Did they find out if the potential buyers are willing to offer more? In my experience EA's don't always ask if buyers will offer more. A lot also depends on the position of your buyers. Are they chain free, do they need a mortgage?

I offered on a property earlier in the year and then increased my offer. I had done my sums, the property needed quite a bit doing to it and the market was stagnant. The vendor refused to counter offer (they don't have to). I decided my 'walk away' amount and 'walked away' as I didn't love the property and it just wasn't worth offereing any more once the extra work that needed doing was taken into account.

?

I wouldn't say its a case of vendor "refusing" to make a counter-offer. As I understand how things are played its the case that a buyer makes 2 or more offers and when they are making their final offer they state its their final offer (and mean it). It was certainly news to me that some buyers are apparently expecting a counter-offer at some point from the vendor because I didn't think that was part of the "negotiation process" on the house price and had never heard of a Counter-offer Tactic before.

DilbertJones

I Didnt make a counter offer, nor would I have imagined I would need too.

When I offer I work out a figure in mind that I believe it to be worth, I work out if I can afford that figure and then my offer is likely to be lower than this.
Obviously each house/viewer will have a different set of circumstances to work too but that's the way I see the 'game' to be played.

DRP

DilbertJones wrote: »

I Didnt make a counter offer, nor would I have imagined I would need too.

When I offer I work out a figure in mind that I believe it to be worth, I work out if I can afford that figure and then my offer is likely to be lower than this.
Obviously each house/viewer will have a different set of circumstances to work too but that's the way I see the 'game' to be played.

I would say (as a seller) a counter-offer weakens your position somewhat.

I've never made or received a counter offer although I have tried and failed to get one....

DilbertJones

I agree, a counter offer is as good as reducing your asking price & will likely get reduced again.

Its early days, the house is well priced, in a great area and will be a fantastic home for someone, we are by no means desperate to sell & in the process chuck away several £000's.

fart

DilbertJones wrote: »

I agree, a counter offer is as good as reducing your asking price & will likely get reduced again.

Its early days, the house is well priced, in a great area and will be a fantastic home for someone, we are by no means desperate to sell & in the process chuck away several £000's.

Well then you hold all the cards. You need that one person who's desperate to have that house specifically and you can get as much as possible for it by playing it cute. Just keep rejecting anything and everything which doesn't suit your valuation and sit tight.

DilbertJones

I'm good at sitting tight

Interesting discussion though from the differing sides of the fence, I am surprised at people who would offer once & walk away without advising this would be their only offer....

ognum

DilbertJones wrote: »

I agree, a counter offer is as good as reducing your asking price & will likely get reduced again.

Its early days, the house is well priced, in a great area and will be a fantastic home for someone, we are by no means desperate to sell & in the process chuck away several £000's.

Iam not sure why everyone wants to consider this a game, just because you play your game one way does not mean that that is the way others play.

Frankly, if I meet an EA or a vendor who is out to play 'a game' I will walk away. I own several houses and have bought and sold many more, I like to deal straight down the line.

By the way I don't know many house sellers who would not say all the stuff you have said in your last paragraph, if it's so fab why sell?

fart

DilbertJones wrote: »

I'm good at sitting tight

Interesting discussion though from the differing sides of the fence, I am surprised at people who would offer once & walk away without advising this would be their only offer....

Some people don't like to faff.

They're of the 'just pay it' attitude, and may have a figure in their head for the maximum and just offer it straight out to avoid all the to-ing and fro-ing. Others like to be cuter to try and save every possible penny. Depends on the person i guess.

DilbertJones

ognum wrote: »

By the way I don't know many house sellers who would not say all the stuff you have said in your last paragraph, if it's so fab why sell?

My family has now outgrown the property so with reluctance we are selling, if a larger property came up in the area we would snap it up. No we cannot extend before you ask

Also I am not playing 'games' have you never offered below asking price on a property? If so then surely this is partaking in 'games'??