'Speculatively' on the market

WeAreGhosts

Arrrghh ... what is the point in putting a house up for sale 'speculatively'?

What a waste of everyone's time.

I found a property that's over budget, been on the market 10 months, so thought I'd ask the agent whether the vendor would be interested in a lower offer, to find the vendor only put it on the market 'to see what happened'. There's a few people interested, she's had lower offers, but wants to wait for the asking price. She's not going to get it because, based on sold prices on the street, it's about £25k overpriced.

I'd be worried about buying that house. What if she changed her mind at the last minute? Which could happen cos she doesn't seem that bothered about moving.


There's another property that I'm really interested in, but haven't viewed because the vendors want over £300k, despite it being worth about £270k, and it's been on the market over a year.

I can't blame them for wanting the best price they can get, but having a house on the market for a year doesn't make the property look good, does it? If it was decent and priced right then it would have gone yonks ago.

Sorry, I'm just having a ramble.

kingstreet

Price flexibility will suddenly arrive if the vendor finds the bargain they are seeking.

Move on...!

penguingirl

Nothing new- my parents always talked about a house that they placed an offer on in 1989. Over the years it was on and off the market and eventually sold in the early 00s, so they were glad they hadn't waited!

PasturesNew

Some people will only move for a particular price.... for their own reasons. They don't mind staying where they are until they get that price. For some, they will never sell, but they're happy.

Just because their house is for sale at a price you don't agree with doesn't automatically make you right and them wrong. Maybe next week somebody WILL want that house, at that price, and buy it.

That's life. There's always one for sale like that..... you just happen to want it, but at the price it's worth to you, which isn't enough for the current owners to bother moving for.

WeAreGhosts

I said nothing about right or wrong. It's just annoying.

marksoton

WeAreGhosts wrote: »

I said nothing about right or wrong. It's just annoying.

Surely no more so than any other property where you offer under asking price and it isn't accepted...

Hoploz

Totally agree. Don't out your house up for sale unless you intend to sell it!!!

EA showed me various houses when I was looking. Two I tried to buy they took off the market when we offered. The second one we had gone to the trouble of putting our house on and getting under offer before we put the offer in, all for nothing!

DaftyDuck

Sure they won't move if you offer the asking price?

You shouldn't start with the premise a vendor will take a lower-than-asking-price offer.

iantojones40

There seems to be an awful lot of 'speculative' vendors on the market at the moment (let's be polite and not start using phrases like deluded time wasters and kite flyers)

One just up the road from me has now been on 6 years still at the original asking price!...

http://www.rightmove.co.uk/property-for-sale/find.html/svr/1714?searchType=SALE&locationIdentifier=REGION^3390&insId=1&radius=0.0&minPrice=&maxPrice=&minBedrooms=&maxBedrooms=&displayPropertyType=&maxDaysSinceAdded=&_includeSSTC=on&sortByPriceDescending=&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&newHome=&auction=false

WeAreGhosts

DaftyDuck wrote: »

Sure they won't move if you offer the asking price?

I'm not sure why I'd offer asking price if they're overpriced based on research I've done of previous sold prices and the work that needs doing on the houses.
One I can tell from pics needs complete re-wiring and new windows.

It's true there's always a chance that someone will come along and give them what they're asking. But when there's people queuing up to give them less (not cheeky offers, just less ££s), then surely that tells them it's overpriced?

marksoton

WeAreGhosts wrote: »

It's true there's always a chance that someone will come along and give them what they're asking. But when there's people queuing up to give them less (not cheeky offers, just less ££s), then surely that tells them it's overpriced?

It probably should. But if they're in no rush to sell (for whatever reason) there's nothing to say someone less well researched won't come along and offer what they want.

What i would say is with a seller like that i'd be worried they try increasing the purchase price during the sale process. Some people are just plain greedy.