Overpriced House? How to negotiate...

TobyLarone

hazyjo wrote: »

Yep. Definitely don't offer low! You're not proceedable. What you will be able to offer will depend on what you're offered.

Thanks, what I might do is get ours on the market, hopefully get an offer on it then see if the other one is still up for sale. If it is then more time will have passed and they may be more eager to sell...

RedfordML

first offer has to be low. you can go up but not down.

I would go in 275k, with my second offer of 280k being my final.

we went in on a 255k house, opening offer 227k even though agents said they wanted 240k+. A week later we had our 3rd offer accepted which was a few k under the 240.

We also thought it was overpriced but believe we now have a good deal and it was the opening offer that tested the waters but also showed we felt the price was wrong...

My only suggestion is the first offer needs to be laughed at, if not youve offered too high. No offer can be offensive...low...

Crashy_Time

Do you have a link to the one that sold?

TobyLarone

Well the house we were interested in has been taken off the market, but thanks for all your replies

konark

Well that was quick, 10 hours after you asked the question.

ReadingTim

TobyLarone wrote: »

Well the house we were interested in has been taken off the market, but thanks for all your replies

Assume that's taken off the market as no-one offered £300k (or a figure close enough to satisfy the vendor), rather than taken off as in sold, stc?

Just goes to show, you can't always negotiate if you think something's overpriced compared to what the vendor thinks. Ain't no use appealing to logic and reason, comparable sold prices or the state of the economy generally - fail to agree a price with the vendor and the sale just doesn't happen.

Assuming however, that the vendor does actually want to move at some point, it may mean that if/when they re-market the property in a few weeks or months time, they may be more realistic on price, or more willing to negotiate...

TobyLarone

ReadingTim wrote: »

Assume that's taken off the market as no-one offered £300k (or a figure close enough to satisfy the vendor), rather than taken off as in sold, stc?

Just goes to show, you can't always negotiate if you think something's overpriced compared to what the vendor thinks. Ain't no use appealing to logic and reason, comparable sold prices or the state of the economy generally - fail to agree a price with the vendor and the sale just doesn't happen.

Assuming however, that the vendor does actually want to move at some point, it may mean that if/when they re-market the property in a few weeks or months time, they may be more realistic on price, or more willing to negotiate...

The estate agents just said it's been taken off and not sold and that in future it might go back on sale...it had been on sale around 6 weeks and from what I've been told by the agents in the area the houses are selling very quickly, often before they even make it to RightMove (but they might just be telling me that!)

So I would say overpriced but I bet someone at somepoint would have bit and paid up.