Probate being greedy or is it me?

jimpix12

Also to add I'm still trying to find out how long "a bit longer" is? Weeks? Months?

Shahni

Why does the fact you're a cash buyer matter? The only real benefit of that is speed and if its a probate sale they probably aren't bothered about that, so you don't have the leverage you think you have.

You said earlier that you only want to hear opinions from the buyer's perspective, so I assume you just want to be told that you're right and the seller is being totally unreasonable not accepting your low offer.

AdrianC

spunko2010 wrote: »

I agree with what you're saying but is 5% below asking price considered "way below" nowadays?

There is no rule of thumb.

There are two unique people who are trying to agree a unique price for a unique property. No more, no less.

Hoploz

I don't get this thing people say about time limits. 'I will withdraw my offer if you haven't accepted it within x days or weeks.'

I would have thought you would leave the offer on the table, keep looking, and if you haven't found anything else by the time they are willing to accept the price you offered then you go ahead and buy it. You don't know whether you will find something else or not within that time frame, so why shoot yourself in the foot by making yourself look fickle? Surely you want the EA and the seller to feel you genuinely want to buy the house, not 'I want it this week, but I won't want it next week' ?

jimpix12

Shahni wrote: »

Why does the fact you're a cash buyer matter? The only real benefit of that is speed and if its a probate sale they probably aren't bothered about that, so you don't have the leverage you think you have.

You said earlier that you only want to hear opinions from the buyer's perspective, so I assume you just want to be told that you're right and the seller is being totally unreasonable not accepting your low offer.

Oh for heaven's sake. Yes, that must be it. I'm a deluded buyer who won't listen to anyone. Really, is it so hard to read my responses? I accept that the sellers are looking for "the best price". I am simply asking for opinions if you were in my shoes how you would handle it without losing any sale and scaring them off.

jimpix12

I don't get this thing people say about time limits. 'I will withdraw my offer if you haven't accepted it within x days or weeks.'

I never really used to understand it either, until I had to deal with it. You spend 2-3 years looking for a home, then you eventually find one that ticks all the boxes but you feel it's priced too high and the sellers are being a little greedy. You don't particularly want to wait around for months on end for them to just sell to another person for £2k more than you offered. Particularly not when, in the process you've lost your own buyer who isn't willing to wait for you to exchange and then are back to square one. Not to mention the estate agents which make everything 20x more stressful.

Of course not all this applies in my case but I can quite easily understand why people do it. Maybe it's just that I'm impatient and also part of me wants house prices to plunge so feel like I'm being foolish on a subliminal level? Who knows.

Anyway, I think the consensus here is just to wait so I'll do that. I doubt anything else will come up soon, I've been looking for at least a year. Oh well. The joys of househunting

ellie27

spunko2010 wrote: »

You spend 2-3 years looking for a home, then you eventually find one that ticks all the boxes but you feel it's priced too high and the sellers are being a little greedy. You don't particularly want to wait around for months on end for them to just sell to another person for £2k more than you offered.

So offer another £2k then......

jimpix12

...At what point would you offer another £2k?

ellie27

spunko2010 wrote: »

...At what point would you offer another £2k?

If you think that might be enough to secure it then I would do it now (or in the morning!)

Remember they do want to sell and you do want to buy.

Another 2 weeks down the line, another potential offer by someone else (possibly higher than yours) and thats it, you lose out.

bris

The sellers want the best possible price, yes I know you know that but this isn't being greedy as you say, it's knowing you can get more than your offer.


The estate agents can say what they want to you but the vendor decides what the property is worth to them, not to you.


If you don't want to lose it give them the extra 2k, remember buyers always think prices are to expensive, but when your a seller you always think they are worth more, funny that aint it.