Seller won't accept offer any idea's

rosie383

Some vendors will just hold out for what they think the property is worth regardless of what anyone else thinks.

dodger1

With regard to the care home, the father may well be paying for that out of savings or a decent pension so possibly no financial need for a quick house sale.

Herzlos

You should talk to the agent again and explain the situation. If you can be bothered put in another offer for £259k (less than the previous offer), making it clear that it's your final offer and leave it in the table until you find something else. But you'll need to accept that it's likely a lost cause.

Offering 14% under the asking price doesn't seem unreasonable.

Missmarple

It won't do any harm to ask for a meeting with the vendor through the estate agent. Just because he is in a home doesn't mean he is out of his mind. He may be able to explain his reasons for the high price, he may not even be aware of any issues.

martin1959

Another 6 months and it may have increased in value to £300k!!


The bungalow fits your needs and is the only one you have found, so it may be worth more. If there were lots of similar properties on the market in the area then you could buy one of those....


It reminds me of a time when I used to run an entertainment agency. We had a call from a woman who wanted a band for a wedding. We quoted £800. She replied that another agency quoted her £500....we told her to get one from the other agency, but she said they did not have any available. My partner then politely informed her, then when our bands are not available, they too are only £500.......


She was not amused but we both pi**ed ourselves laughing....

Coal_Shoveller

The thing is I was trying to downsize, my house has been on and off the maket for 5 years, originally on the market for 360k and after several price reductions eventually sold for 285k, so I have just taken a big hit as it is. I've lived in it for 14 years and have never been able to afford to do anything with it and it still has the delapidated kitchen in it that I moved in with.

If I bought this bungalow for 300k, I would have to max out on my mortgage, which would take me to 67 to pay off, I would have a bigger morgage on a house nowhere near as nice as the one I have just sold, and I would find myself unable to afford to do anything with it again, and even if I did come into some money and could afford to do it up to a good standard it still would'nt be worth 300k.

I think I'll casually call in at the estate agent's this morning, say I'm still looking and does he have anything coming onto the maket soon, and maybe slip a "shame about the bungalow into the conversation" and see where it goes from there.

J.P.

Vestra

Post a link here and you may get better advice on the value of the property.

nubbins

Hi,

Your whole thread does not make sense to me, you lived in a property for 14 years and eventually sold it at 85k under the original valuation (yours or the EA's?) with the same dilapidated kitchen that was there when you originally bought it. You now want to buy a bungalow that that is stretching your finances as it is and also requires new kitchens,bathroom and decoration. I am guessing that if you had given your former house a spruce up you would have got nearer your original asking price? I am sorry to be harsh but if you cannot afford to stick some sort of new/second hand kitchen in after 14 years a) Your mortgage is too high for you to live comfortably b) You should definately not be "downsizing" to a property roughly the same price and requiring work.
I hope it goes well for you but with this property its sounds like a stretch.

pjread

Coal_Shoveller wrote: »

The thing is I was trying to downsize, my house has been on and off the maket for 5 years, originally on the market for 360k and after several price reductions eventually sold for 285k, so I have just taken a big hit as it is. I've lived in it for 14 years and have never been able to afford to do anything with it and it still has the delapidated kitchen in it that I moved in with.

If I bought this bungalow for 300k, I would have to max out on my mortgage, which would take me to 67 to pay off, I would have a bigger morgage on a house nowhere near as nice as the one I have just sold, and I would find myself unable to afford to do anything with it again, and even if I did come into some money and could afford to do it up to a good standard it still would'nt be worth 300k.

I think I'll casually call in at the estate agent's this morning, say I'm still looking and does he have anything coming onto the maket soon, and maybe slip a "shame about the bungalow into the conversation" and see where it goes from there.

J.P.

I assume you have your reasons, but seems odd to want to sell for 285k then pay 260k+ to downsize to somewhere "nowhere near as nice as the one I have just sold". I expect 5k of that 25k released will go straight on stamp duty, legals and moving costs...

Crashy_Time

Thrugelmir wrote: »

If this property is the one you want then make a higher offer. As rent paid is going to be dead money. Ultimately a property is what it's worth to you. Particularly if you end up living there 30 or 40 years.

Paying 50-60k more than a house is worth is also dead money, banker probably won`t complain if you are borrowing though. Why not just stay put in the house you own until the market sorts itself out? At least wait to see what the election brings because there could be big changes to the political and economic landscape just around the corner.