House on for £290,000 one down the road £250,000

ScorpiondeRooftrouser

loveka wrote: »

The house you want is loads nicer than the house you don't want, and so it's worth more! I wouldn't let it slip through my fingers if I were you, it's gorgeous.

Yes, it's not like there are any other houses. Offer them double what they are asking. Triple.

ScorpiondeRooftrouser

Dan-Dan wrote: »

It is each to their own , and your wrong

I agree entirely.. When I sell a house I don't care why someone is making a particular offer, i just care what it is. I'm not going to sell them the house because they've valued it correctly; I am going to sell it to them if they offer more than anyone else. Their logic may be impeccable but if I think some idiot will come along and offer me more than they should because the taps in the bathroom are particularly shiny, I'm going to wait for that.

Pay_me

You have to be careful the reality is you might have done your homework and research but you never really know the reasons for selling.

I sold a house that was up for sale for over 2 years before it sold. The reality was there is a massive difference between needing to sell and wanting to sell. I was willing to listen to sensible offers though I had in my mind what I wanted and that was it.

Anyone who made what I thought was a ridiculous first offer I refused to deal with anymore even if they increased the offer. Hence why it took over 2 years to sell!!

On one occasion I received an offer of 40K below asking price with a back story. My response was if they wanted it they would have to pay 5K above asking price. When I spoke to the estate agent why they even put that offer through to me they stated that the viewer pushed for it on the basis that the house had been up for 2 years and as it was the crash years I must have wanted to sell.

Honestly, and anyone who gave me a story to go with the offer was ignored also. I didn't care it was always about price. Like I say was massive difference between wanting to and needing to sell. I held out for what I wanted so don't be gobsmacked if the seller tells you to do one and not to come back!!

AnotherJoe

ScorpiondeRooftrouser wrote: »

I agree entirely.. When I sell a house I don't care why someone is making a particular offer, i just care what it is. I'm not going to sell them the house because they've valued it correctly; I am going to sell it to them if they offer more than anyone else. Their logic may be impeccable but if I think some idiot will come along and offer me more than they should because the taps in the bathroom are particularly shiny, I'm going to wait for that.

Isnt the idea behind the explanation, that you are trying to avoid annoying the person so much that they cut off their nose to spite their face by refusing to deal with you because they think you've insulted them? it would make no difference to me but some people do seem to take these things very personally for some reason.

I once sold a house for "offers in excess of" and yet still got offers below, initially I was somewhat exasperated but eventually realised that sometimes people just bid to see what happens. That was a long time ago , if I was doing it now I'd instruct the agent to reject any such offers out of hand. Unless they are legally obliged to tell you? I'm not sure ?

Pay_me

pinkteapot wrote: »

All you can do is offer what you think it's worth.



Some sellers simply think their house is worth more than people are actually willing to pay. If that's the case here, you won't get this house, so be prepared to move on if need be.
."

Not always as simple as thinking it's worth more than people are willing to pay, some sellers are in no rush to sell. Like myself my house took over 2 years to sell and I had loads of offers. I wanted to sell I didn't need to sell. For me the thought of moving to a new house was nice but whether that was 6 months after putting the house up for sale or 4 years after made no difference to me. I had in my mind what I would accept as the minimum and I waited for it I then ended up in a position with 2 offers above my acceptable minimum value so I sold up.

ScorpiondeRooftrouser

AnotherJoe wrote: »

Isnt the idea behind the explanation, that you are trying to avoid annoying the person so much that they cut off their nose to spite their face by refusing to deal with you because they think you've insulted them? it would make no difference to me but some people do seem to take these things very personally for some reason.

I once sold a house for "offers in excess of" and yet still got offers below, initially I was somewhat exasperated but eventually realised that sometimes people just bid to see what happens. That was a long time ago , if I was doing it now I'd instruct the agent to reject any such offers out of hand. Unless they are legally obliged to tell you? I'm not sure ?

There's no point offering something massively below what you're prepared to pay. If they are annoyed by your initial offer, they are not going to settle at something acceptable to you anyway, so what does it matter?

In this case it's up for 290, he wants to pay 260 and wants to offer 255. if the 255 "annoys" them, they are hardly likely to take 260.

I have no idea why anyone would instruct an agent not to pass an offer on. You pick up the phone and say "no". How much trouble is that? Surely you want to know if 10 people have all offered the same low figure, if you've had no other offers?

ScorpiondeRooftrouser

Quizzical_Squirrel wrote: »

The thing with those very low initial offers, followed by a bigger jump, is that sellers may fear the later offer is just a bluff and that, by survey results or gazundering, the buyer will later attempt to manoeuvre the price down towards the initial offer.
Then they'll just walk away if they don't get it, having wasted months of your time, broken your chain and lost you your hoped-for future house and left a big question mark hanging over your house for other buyers.

If you're selling a house and you get that crazy low offer first, followed by a more acceptable one, you've got to wonder how serious that later offer is. The buyer could have no intention of paying that much (he's already indicated what he thinks the house is really worth) and he's just hoping to trap you in a chain, waste your time and wear you down.

I don't think the refusal to consider further offers from low bidders is always because people are offended and take it personally.
I think it's because they know human nature only too well and they're not falling for it.

We're not talking about lower offers followed by a big jump. We are talking about something on for 290, and they want to offer 255 and aren't prepared to go above 260.

tlc678910

Hi,
Rightmove and Zoopla suggest the house was only listed 8th/9th Feb. It seems unlikely a vendor would drop their price so much so quickly.

I think a reasonable plan might be to make your best and final offer - what you would be happy to pay for the house (if it is 260K then offer that) and let them know that you really like the house but cannot negotiate as that is what you can stretch to and you would be grateful if they could take your details so you can leave it on the table and hope to hear from them. If you don't hear in the coming weeks you could try asking again in a few weeks.

If you don't have time to hang around I doubt the vendors would accept a low offer so soon but I guess it's worth a try as you have nothing to lose by asking.

Good luck

getmore4less

If the agent thinks it is overpriced they will be wanting offers even low ones as they know they are in for a long haul until vendor expectations are reset. Without offers the first drop will be too small.

Zoology_Dragon

Those two houses aren't really comparable.