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Private sale - viewing etiquette *updated*
Comments
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Yeah, had thought about a valuation, but with the EAs they more often than not load the price, especially in this area.
One property (we have viewed, & it's not for us) down the street has been on the market for 6 months and is clearly £30k overpriced.
There is one good independent EA in the area, and i did think of asking him, but thought that if he knew that the owners were thinking of selling he'd give them the hard sell and persuade them to try their luck on the market.
I will think about asking him though.
I did wonder whether there was someone like a valuer that is not an EA ... does such a person exist?0 -
We leafleted them.
I agree that they might tie us up in knots trying to get their 'fantasy price'!
The property is for us location-wise, as nothing comes up in that area very often, but the floor plan does not work without spending ££s.
Maybe it isn't worth it ...0 -
It doesn't really matter what any valuer or surveyor says the value is - the only figure that matters is what the seller will accept. And they've already told you that...0
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And I know that in this area old houses such as these don't move. Too much to do, not enough money to be made.
I've been looking in this area for 3 years (1 seriously with viewings) and there are properties on the market now that were on 3 years ago.
So, with that in mind, I think it's worth a punt and offering a bit less.
It's just how to go about it ....
Trying to draft them a letter now ...0 -
You can pay a surveyor for a valuation, mine cost around £150-250 x0
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The problem you may have is that unless you come near their "fantasy price" they will always think they can get more with an EA, on top of this they will probably have family members who have suddenley become property experts telling them can get more. I would not tell any EA about this property, they will be on it like a bloodhound.0
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Yeah, I get the feeling the family will be bending their ears.
Think we're going to go for an independent valuation by a surveyor. Then at least we can walk away knowing they could probably get more for the property than we're prepared to offer.
Fairer all round, i think.0 -
Older sellers can be the worse at thinking their house is worth more than it is. I think they just don't realise how dated their house has become because it's their home.
Over 20 years ago when house hunting we had an older couple who thought their house was worth £90k when similar houses in better condition were going for £82k but there was one neighbour who had over extended/modernised etc asking £99k so they based their value on that neighbour as they didn't have a conservatory!! The EA told us we could view but wouldn't accompany us as they felt they were wasting their time as couple wouldn't take realistic offers.
We did view as we were looking at other houses in that road but did tell them we wouldn't be making an offer as it was overpriced! We didn't care as we didn't have to see them again.
We bought a house on the next street and saw it for sale for years!! Never saw it sold but always lots for sale on that road so may have missed it. If he still has it he could get £280k for it now!
~Laugh and the world laughs with you, weep and you weep alone.~:)
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Remember that what you saw was just part of the iceberg and more remains to be discovered.
For example, a house that has a dated kitchen will probably have dated electrics too, and there may be other nasties hiding in the basics of the house, like the plumbing/central heating.
The house is often kept beautifully, but closer inspection shows a list of inadequacies and problems as long as someone's arm.
In any event, I don't see this ending well. The couple must come round to the idea that they're deluded on price, and the biased surveyor you'll use (That's what they'll think because you're paying him/her!) will have no chance of persuading them. Only time on the market and multiple rejections will do that.0 -
You could offer the seller a little under what it's worth to you and then go back with the price you would be prepared to pay if needs be.
If the vendor wants more than you want to pay then you can't buy the house.0
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