Missed Out on Buying First Home - Gutted

BrassicWoman

johnwb89 wrote: »

it is a Mexican stand off buying a house.

Only if you make it one.

All the houses I have bought, I have made my best offer, said it was my best offer, and had it accepted.

Same for the houses I have sold, no messing about with £1k increments.

Decide what you think it is worth, offer, and be done.

The slow torture of negotiation would put me off any buyer and I'd rather wait it out for someone more serious. The people who tell you house buying is a big negotiation game - they aren't always right. It's about so much more than money.

You end up in a waiting period of up to 6 months between buyer and seller. I'm not going to commit to that with someone who shows they care about the last fiver. Because then there's who's paying for the boiler service, chancel insurance, taking the light fittings, etc etc etc. It may never end.

I am a straight forward person. I deal with straight forward people. End of.

johnwb89

It sounds like my dads negotiation tactics that worked for him buying in towns 15 years ago aren't transferable to the fast paced city market. He's always got a good deal with his, but I doubt he did the £1000 increasements.

I can see where you're coming from that it makes me look less interested than somebody who is slapping down an offer that looks more genuine than mine instantly. I suppose it's now just a waiting game until the next property comes available I love and treat it with more intent.

BrassicWoman

johnwb89 wrote: »

It sounds like my dads negotiation tactics that worked for him buying in towns 15 years ago aren't transferable to the fast paced city market. He's always got a good deal with his, but I doubt he did the £1000 increasements.
.

Dpends if you are looking for a deal or a home. If he viewed it as in investment, so was happy to walk away, fair enough, as long as his seller was like minded.

I probably paid a couple of grand over the odds for where I am now, but it was the ideal layout and location for a slightly disabled woman, so it was worth it to me. It's my home; I expect to be here until it's nursing home time.

You may have a different view on why you are buying.

johnwb89

BrassicWoman wrote: »

Same for the houses I have sold, no messing about with £1k increments.

Decide what you think it is worth, offer, and be done.

I must say one thing though I went up to £210,000 on the Tuesday which is what the EA insinuated she thought would get it. From that point I was not told it was out the race at £210,000 as it wasn't rejected, so by me adding £1000 it wasn't to annoy the vendor, but meirly to maybe solidify what was already what she was after.

hazyjo

Turn it around - if you meant it and they had kept ringing you saying someone else had offered and would you be prepared to go up, you'd prob be here saying they're hassling you and why won't they listen as it's now X number of thousands over what you said you could pay.


The EA obv thought it would go for less, she's not psychic and prob thought it best to leave you out the loop when it went way over your 'budget'.


One in three falls through, so keep alerts set on RM and keep a close eye on it. Don't just trust the EA to ring you - in my experience they don't.

johnwb89

I'm on RM like a hawk at the moment haha

From you guys experience - with sales falling through, can that happen at any stage? Or is there a period when it's most probabale?

hazyjo

johnwb89 wrote: »

I'm on RM like a hawk at the moment haha

From you guys experience - with sales falling through, can that happen at any stage? Or is there a period when it's most probabale?

Any time - but obviously after survey is a biggie.

johnwb89

Thanks for this.

Last question! As I'm still a newbie to this. After a house goes to STC - Are you allowed to put in an offer or 'gazump' as it's known? I wouldn't actually like to do this as it seems shady, but I'm wondering what the rules of STC are?

gycraig_2

Thing is with things like this no one wants to over pay it's nice to get a bargain etc etc.

But ultimately on a normal mortgage it's not worth missing out on a nice house to try save 6 quid a month on your mortgage.

As a salesman myself if you was nickel and diming 2k at a time and someone came in and smashed your offer to bits I'd just sell to the other person. Despite your intentions you tried to play the "im not going higher" card and someone else was prepared to go higher.

I lost a couple of houses doing this now I cba I'll offer what I think it's worth with no negotiation. If I lose it I lose it

hazyjo

johnwb89 wrote: »

Thanks for this.

Last question! As I'm still a newbie to this. After a house goes to STC - Are you allowed to put in an offer or 'gazump' as it's known? I wouldn't actually like to do this as it seems shady, but I'm wondering what the rules of STC are?

Well there's no law to say you can't, but I'd never do it as a vendor or buyer. And if I did go in higher and the vendor accepted, I'm not particularly sure I'd trust them or want to deal with them. Would you?


Each to their own though, we all have different, erm, 'opinions'.