Very low offer by landlord buying my property is his final offer - is this normal?

katepower

I paid 102 - I've done the sums and 115 is the absolute minimum I can accept as otherwise there will not be enough of a deposit for my new house.


I'm not sure what he's up to. It feels annoying as I've spent time deliberating and weighing up options for no good reason, but such is the house buying/selling world...

katepower

There is a bottle of prosecco with my name on it for this evening...

westernpromise

katepower wrote: »

I paid 102 - I've done the sums and 115 is the absolute minimum I can accept as otherwise there will not be enough of a deposit for my new house.


I'm not sure what he's up to. It feels annoying as I've spent time deliberating and weighing up options for no good reason, but such is the house buying/selling world...

Yes it is, unfortunately.

I wouldn't be too worried by the dropping-the-offer scam BTW. You're not in a chain and the buyer is the one who incurs expenses on things like surveys, so he's the one who has to write off cash spent if he tries to get cute.

cashbackproblems

Hardly a "very low offer", in todays market 5 weeks is a long time he has offered what its worth. Especially as you have had no other interest/offers suggests you could be waiting a while

Hes entitled to offer what he wants, you either accept or reject depending on your situation and how long you can wait/take the risk

katepower

cashbackproblems wrote: »

Hardly a "very low offer", in todays market 5 weeks is a long time he has offered what its worth. Especially as you have had no other interest/offers suggests you could be waiting a while

Hes entitled to offer what he wants, you either accept or reject depending on your situation and how long you can wait/take the risk

I think you should probably read back over the last page or so...the issue has moved on.


To clarify things for you: I never had an issue with the offer per se, although it was a little lower than I had hoped, I wasn't complaining about it. I wanted realistic perspectives on the situation, which I got.

DRP

moneyistooshorttomention wrote: »

That is quite a discount on asking price.

But that was my personal experience of would-be buy-to-letters too when I sold my last house. That being - many of them have a tendency to make one offer and you are expected to "take it or leave it". I rejected one buy-to-letter that was taking that attitude. The bidding war when I sold was actually between a buy-to-letter and a would-be homeowner (so that landlord was increasing their offer a couple of times during that).

The would-be home-owner won that "bidding war" anyway - but I do have suspicions as to whether the landlord would have tried pulling the "drop the price" stunt just before Exchange of Contracts.

An offer 8% less than asking price?

That's probably a fairly common difference, considering the issues with location.

Crashy_Time

Could this be a factor?


http://www.dailymail.co.uk/money/buytolet/article-3565329/Nationwide-cracks-buy-let-mortgage-lending-sees-landlords-struggling-Osborne-tax-raid.html

iantojones40

katepower wrote: »

I paid 102 - I've done the sums and 115 is the absolute minimum I can accept as otherwise there will not be enough of a deposit for my new house.


I'm not sure what he's up to. It feels annoying as I've spent time deliberating and weighing up options for no good reason, but such is the house buying/selling world...

I'm in exactly the same situation as you but with my car... I've done the sums and I need to sell my 12 year old Renault Clio for an absolute minimum of £65,000 in order to fund my next car which is a Porsche.

katepower

Obvious troll is obvious....

katepower

I expect so crashy - is there ever a perfect time to sell and buy a house?