No counter offer from vendor.....

moneysavermummy2014

Hello!

We made an as-expected declined offer on a property this morning, but the EA/vendor has given nothing away in terms of what would be nearer an acceptable level.....just that the offer (having discussed with the vendor) wouldn't be enough and that 'they would like to see another'. We know we can't stretch to full asking price, but the response suggests to me we are nowhere near with a response like that so we are trying to do some sums and see what is a possibility, but I'm equally detaching myself from the idea of buying it as I don't think we'll get there to be honest. Is there any way to tactfully broach with an EA what the ballpark might be for an actual negotiation??? Or is that like asking how long is a piece of string??

Thanks in advance! xx

NorthernMonkey1

I'd wait for at least 4 days before making another move. Then offer an additional 10% of the difference between your offer and their asking price.

So if they wanted 220, and you offered 200, then I would offer 202.

LandyAndy

I bid £15750 under asking on a property. The EA said it had been rejected without offering a counter offer.


So I just asked them straight out what the vendor was looking for. They told me another £5000. I bid an extra £2750, said that was my final offer and it was accepted.


So, just ask what the vendor is really looking for.

LEJC

It is a bit of a piece of string type question...and in some ways the vendor has stated what they would like to achieve ie the asking price.

How far off the asking price was your offer....

ellie27

You said you expected your offer to be declined so I would have assumed you would have already planned what your next offer would be?

I would ask the agents what they think it would take to get an offer accepted. They might tell you they would accept 'x'

How long has it been on the market?

moneysavermummy2014

Thanks all, It was a little under ten percent off, so understandably rejected but we had hoped it would be a starter for ten on a discussion to maybe get to an agreeable figure.....

moneysavermummy2014

ellie27 wrote: »

You said you expected your offer to be declined so I would have assumed you would have already planned what your next offer would be?

I would ask the agents what they think it would take to get an offer accepted. They might tell you they would accept 'x'

How long has it been on the market?

Yes, we do have another number in mind but I get the impression I am wasting my time for some reason. Gut is telling me just to leave it, at least for a while anyway..... It's been on the market two months ish....

Dan-Dan

NorthernMonkey1 wrote: »

I'd wait for at least 4 days before making another move. Then offer an additional 10% of the difference between your offer and their asking price.

So if they wanted 220, and you offered 200, then I would offer 202.

4 days to come back 2 grand more?

Best way to get laughed out of town

stator

As you have said, it doesn't sound hopeful. But you should make your fair final offer anyway and cross your fingers. Since rejecting your first offer they might have started to change their mind. You never know.

moneysavermummy2014

stator wrote: »

As you have said, it doesn't sound hopeful. But you should make your fair final offer anyway and cross your fingers. Since rejecting your first offer they might have started to change their mind. You never know.

Yeah we'll see I'm guessing if we make the 'next' offer we should make it a 'pretty close to final' one then? I almost want to hold back a smidge in case they counter offer and there is zero left in the pot.....

Dan-Dan

too many offers and your just going to get played by the agent