Seller refusing offer as they owe more on house

rjs2014

Old_Git wrote: »

do you know what the vendor paid for the house and how long ago .

From looking on rightmove they paid 177k in 2005

rjs2014

Crashy_Time wrote: »

I would politely tell them it is not my role to bail them out of their debts, and make a slightly lower offer, as the market is obviously slowing. Sometimes people just need to be brought back to awareness of their own responsibilities.

I completely agree with you!

MysteryMe

Talc1234 wrote: »

Offer £205K as your best and final offer. You should find some reason to lower your offer after the survey

What a dishonest way to conduct business.

MysteryMe

Crashy_Time wrote: »

I would politely tell them it is not my role to bail them out of their debts, and make a slightly lower offer, as the market is obviously slowing. Sometimes people just need to be brought back to awareness of their own responsibilities.

The OP has been told the minimum figure that the vendor will accept, same as every vendor has a minimum figure. How that figure has arisen is irrelevant.

The OP can offer what they like, however if £205,000 is the bottom line for the vendor they can walk away, they are not forced to pay more for the property than they wish.

Manners cost nothing, neither you nor the OP have any idea what brought about the debts so moralising comments are inappropriate and just plain offensive regardless of how "politely" they are put.

societys_child

Crashy_Time wrote: »

I would politely tell them it is not my role to bail them out of their debt

Really? At that point, if I were the vendor I would kick your sorry a** out of the door.

Sometimes people just need to be brought back to awareness of their own responsibilities.

:huh:

EverGreen_2

rjs2014 wrote: »

I have gone in and said I'm only prepared to pay 200k for that house. They have said they will put it to her and see what she can do, they did say they have reduced there fees a little to help (i don't believe them, there the most expensive in the area anyway). The estate agent also said there is another couple interested, i guess to get me to go to the 205k. It was quite satisfying when i called there bluff as i know the other couple aren't in a position to buy yet (we're related)

The time of your 1st post is 11.05pm. The time of this post "I have gone in..." is 11.29pm. "Assuming" you waited to read the forum feedback, how could you manage to go in and talk to the E agent at that time of night and only for counted minutes? The time between 1st and 2nd post is only 24 minutes. If you say "everything was done earlier during the day" why did you split the given information?

rjs2014

EverGreen wrote: »

The time of your 1st post is 11.05pm. The time of this post "I have gone in..." is 11.29pm. "Assuming" you waited to read the forum feedback, how could you manage to go in and talk to the E agent at that time of night and only for counted minutes? The time between 1st and 2nd post is only 24 minutes. If you say "everything was done earlier during the day" why did you split the given information?

Sorry if I wasn't clear, "everything was done earlier during the day" and it was only when writing my second post I realised I had missed out about giving the offer of 200k. I'll be sure to get you to proof read my posts in future

rosie383

We are in a similar position to yourself. The vendor of the property we really want won't accept our offer even though it is a good offer for the house in its present condition. They need more to be able to buy the property they want. Honestly if we thought that another £3-4k would do it, we would offer it but the EA has told us they won't accept less than asking price. In our area house prices continue to rise but houses generally don't sell for full asking price. We are reluctantly walking away.

moneyistooshorttomention

It's possible to tell what the vendor paid for the house, but what we don't know is what the vendor has spent on the house since (they may well have spent many thousands of £s on work on the house and improved it a lot in the process). So, maybe they don't need asking price to get back what the house cost them to buy originally, but maybe they DO need asking price in order to recoup the money they have spent on it since and this is where being left with a debt hanging round their neck would come from if they accepted a lower price.

Personally, I rather doubt a vendor would say they needed x amount of £s from a house not to be in debt unless that is actually true.

Whatever the vendors' stated/real reason is for an insistence on a certain figure, if that's what the house costs, then that's what it costs and so either agree it (and do pay it...rather than looking for excuses not to) or find another one. Simples...

All vendors decide (for whatever reason) the minimum price their house costs and that is it. Some sell beneath proper value to "get shot quick", some only at proper value, others = "Well you can have mine if you like...but it will cost somewhere between 50% - 100% more than an equivalent house in this area would go on the market for, hence its not on the market (because I don't think anyone would pay that)".

Doozergirl

rjs2014 wrote: »

I completely agree with you!

Really? To the point of saying that to them? They've apparantly been honest and straightforward with you. The simple answer is to offer your maximum and walk away if they don't accept it. It's no different to offering on any other house; It's not a straightforward market place.

I'm trying to work out what 'responsibility' they have that they should be aware of. Having no equity in a house puts no responsibility on anyone to sell, nor does it put responsibilty on people to accept less than they think they need. You don't owe them anything, but neither do they to you.