Seller won't accept offer any idea's

Coal_Shoveller

I'll try and keep this short. The sale of my house is going through and the only house in the area that I am interested in is on the market for £300K. The house is owned by a old man who has had to go into a home and his son is living in it. The estate agent showed us round and when I enquired if there had been much interest she said there had but the problem was the price, I said that I wanted to get round to that as the asking price was very ambitious, she then explained that the asking price had been set by the vendor.

I went away did a lot of reaserch into the local area and came to the conclusion that the house is worth between 235 to 260 so I made a offer of 250K, it was rejected so I then upped it to 260K, which even the estate agent said was a good offer and what they had valued the house at. Also rejected so I decided to write the house off and continue to look.

That was 6 weeks ago and I still cannot find anyware else to buy even after doing a leaflet drop in a few streets. So I still keep coming back to thinking about that house, does anyone have any suggestions about how to try and get it without paying over the odds? I will add that I am the only party who has made a formal offer, all other interested parties have said they are waiting for the price to drop.

J.P.

hcb42

if they buyer wont accept it , there is nothing you can do!


You could have a conversation with the agent again, to see if they are thinking about price, but they may be deluded that they will get nearer £300K and nothing you can do will change that

Acc72

It is not clear who owns/is selling the house? - is it the father or the son?

Either way, it is clear that the son does not want to sell.

Even if he did agree to a price, I am sure that the sale would not go through as smoothly as you would hope.

I would bet that even if you offered the full £300k that the sale would not through as smoothly as you would expect.

bazzyb

Coal_Shoveller wrote: »

does anyone have any suggestions about how to try and get it

Make a higher offer.

Cheeky_Monkey

I wouldn't mind betting that the house has to be sold to pay the care home fees and the son doesn't want to lose his inheritance so is trying to stick it out for as long as possible!

Beancounter

Cheeky_Monkey wrote: »

I wouldn't mind betting that the house has to be sold to pay the care home fees and the son doesn't want to lose his inheritance so is trying to stick it out for as long as possible!

Exactly what I was thinking but surely the local authority will demand a sale at some point so accepting a realistic offer from the Op now is in their interests?

Especially if the LA find out he is turning down reasonable offers for the house.

Cheeky_Monkey

Beancounter wrote: »

Exactly what I was thinking but surely the local authority will demand a sale at some point so accepting a realistic offer from the Op now is in their interests?

Especially if the LA find out he is turning down reasonable offers for the house.

If the house is on the market for £300k, is £260k reasonable?

Actually, the answer to that is yes, if that's what it was valued at but the owner's son has clearly only got his own interests in mind whatever the reason for that

Coal_Shoveller

Ok Bit more info, the seller is the father, but it is being delt with by the son, th efarther is in a home in scotland where i belive you do not have to pay fees.

I could make a higher offer, but the house needs work, not structual but new bathroom, kitchen etc as not been decorated for a long time. If I offer more I would not have any funds to do this work and anyway I thought the spirit of this forum is to save money.

I guess I will just have to move on, but I found myself thinking about the house again today and just wondered if anyone could make any suggestions, I find it strange that I have the estate agent on my side as they should be working for the vendor, they have even used the word idiot to describe him, but then if the estate agent think it's a lost cause I wonder why they are waisting time and resources contiuing to market the house.

J.P.

G_M

Tell the agent to keep your offer on the table so that if the son eventually decides to lower the price the agent will contact you again.

Meanwhile, keep looking elsewhere.

duchy

The son is probably in no rush to sell so is prepared to wait for what he feels is the right offer - if as you say there are no other houses comparable on the market in the whole of the area - then odds are he'll probably get it.

Time is on his side - it probably makes little difference to him when he sells it............you on the other hand are in a more time sensitive situation if you've already sold so it is probably not the house for you. Sooner or later your buyer will get fed up and pull out.

elsien

Beancounter wrote: »

Exactly what I was thinking but surely the local authority will demand a sale at some point so accepting a realistic offer from the Op now is in their interests?

Especially if the LA find out he is turning down reasonable offers for the house.

It may well be, but people regularly make unwise decisions and do things that are not in their own interests. If the seller wants more money and is on no rush, they may well hang on waiting for that nonexistent full price offer.