Vendor Raising Price

toddler9

Oh yes I am well aware houses sell over asking prices.
I would have thought though that given "the level of interest" and the fact they already have offers over the asking price they would go to those people and say "look there's a lot of interest, if you offered £x amount higher to make it £120k it's yours"? If they have done that then those people have declined to increase to what the vendor is looking for? If it was really that popular it would surely be sold by now? (This is an area where comparable size houses sell within days)

Seemed a bit dubious to me that 3 hours after I book a viewing the price is increased?!

sofieellis

I've just had a similar experience. We viewed a house a few weeks ago when we first put ours on the market. It was advertised at £160,000.

We accepted an offer on ours this week, so we decided to ask for a second viewing on the property. However it is now being advertised at £165,000. It has been on the market for 18 months and the vendor has received two offers in that time - one for about £150,000 and the other for about £155,000.

I can't understand why she has increased the price, when she hasn't been able to get an offer at the lower price??? It seems bizarre to me.

martin1959

sofieellis wrote: »

I can't understand why she has increased the price, when she hasn't been able to get an offer at the lower price??? It seems bizarre to me.

Maybe because she thinks that someone will offer her 5k below asking price, which she will accept.


They will think they have knocked her down and have a bargain, and she will have got what she wanted in the first place!!

sofieellis

Yes, that may be her thinking. She's lost a potential offer from us though due to the increase.

rosie383

sofieellis wrote: »

I've just had a similar experience. We viewed a house a few weeks ago when we first put ours on the market. It was advertised at £160,000.

We accepted an offer on ours this week, so we decided to ask for a second viewing on the property. However it is now being advertised at £165,000. It has been on the market for 18 months and the vendor has received two offers in that time - one for about £150,000 and the other for about £155,000.

I can't understand why she has increased the price, when she hasn't been able to get an offer at the lower price??? It seems bizarre to me.

It depends on the market. We have houses in our area that have been sitting on the market since last spring unsold. Because the prices are shooting up, these same houses are increasing in price either with the same EA or when they change EA. The funniest for me was when one EA tried to get us interested in a house which we had viewed six months before. We didn't want it then, and he was trying to persuade me that at £30k more expensive it was the perfect house for us!!

sofieellis

rosie383 wrote: »

It depends on the market. We have houses in our area that have been sitting on the market since last spring unsold. Because the prices are shooting up, these same houses are increasing in price either with the same EA or when they change EA. The funniest for me was when one EA tried to get us interested in a house which we had viewed six months before. We didn't want it then, and he was trying to persuade me that at £30k more expensive it was the perfect house for us!!

That makes our vendor's £5,000 increase seem like small change! :eek:

nubbins

This is what happened to us last year

Agreed 460k
vendor decided she wanted 500k
offered 490k
Vendor decided she wanted 525k
pulled out
As far as I can gather our 490k offer was the best

and now its on at, with a different EA....

http://www.rightmove.co.uk/property-for-sale/property-49427077.html :eek:

csgohan4

nubbins wrote: »

This is what happened to us last year

Agreed 460k
vendor decided she wanted 500k
offered 490k
Vendor decided she wanted 525k
pulled out
As far as I can gather our 490k offer was the best

and now its on at, with a different EA....

http://www.rightmove.co.uk/property-for-sale/property-49427077.html :eek:

Serves them right, what goes around comes around.


Hope the vendor told you before you sank money in for survey e.t.c?

rosie383

It is a lovely house and garden. No wonder you wanted it. Greedy vendor. Wonder how long it will linger on the market at that price.

nubbins

csgohan4 wrote: »

Serves them right, what goes around comes around.


Hope the vendor told you before you sank money in for survey e.t.c?

No unfortunately, we were not too far off exchanging contracts, the survey brought up a dodgy roof, we asked the vendor to look into it a bit more (did not mention money!) she took that as an excuse to pull out and put it on for more, no discussion nothing, the market was rising rapidly at that point.

Thanks Rosie, nice but would have needed a lot of money to get it how I wanted it, I hope karma catches up with her

OP stick to the price you think its worth and don't be pulled in by the EA, on the flip side if its your forever home and you can see yourself staying there 10 years plus then 115 versus 120k is less relevant in the long run.