Asking price offer - vendor now wanting more!

Davesnave

Slinky wrote: »

Sometimes there aren't that many options, and if it means paying a bit more and playing the game to get it, that's what you have to do.

This is what the folks in town won't get.

We tried to buy in much the same area 8 years ago and found it hard-going. Once land and outbuildings come into it, there's a host of 'other stuff' to consider, besides the house itself. Add vendors with an over-inflated idea of value, glacial time-scales for an average sale and it can become very frustrating.

Anyway, we ended-up buying in Devon, which shows how well we got on! :rotfl:

getmore4less

csgohan4 wrote: »

I would walk out of principle, they are messing you around and taking you for a ride. Don't pay more than what it is worth, don't be forced into it

Even with the increased offer the OP has said,

Even at the new amount we've offered it still represents extremely good value for money.

and

We do have a couple of other contenders, but neither ticks as many boxes and they are both more expensive than this one.

It's not time to walk yet.

getmore4less

Margot123 wrote: »

I'm selling a property subject to Probate and can give you the other perspective.

The property you are interested in will have been valued at the time of the owner's death, and that is the figure provided when Probate is applied for.
This is where Executors of a will have to be careful, as if they then sell the property for a figure higher than that they will have Capital Gains Tax to pay, and quite possibly it could put the estate over the Inheritance Tax threshold.
It's not as simple as executors holding out for more money, even though many think they can.

I advertised the property of the deceased and accepted a lower offer. Despite being told higher offers had come in, I have stuck with it. Executors should be mindful of the 'hidden' costs to the estate such as Council Tax after 6 months, utilities, security, and insuring an empty property. All that has to be factored into making a decision right for the estate.

Neither of which is a problem.

phoebe1989seb

Davesnave wrote: »

This is what the folks in town won't get.

We tried to buy in much the same area 8 years ago and found it hard-going. Once land and outbuildings come into it, there's a host of 'other stuff' to consider, besides the house itself. Add vendors with an over-inflated idea of value, glacial time-scales for an average sale and it can become very frustrating.

Anyway, we ended-up buying in Devon, which shows how well we got on! :rotfl:

I very much fear we might end up buying elsewhere too

We've never received any actual written acknowledgement of our offers from this particular EA which also sets alarm bells ringing. Just not having much confidence in their business practices and worry what dealing with them would be like going forward.

If this was anything other than a probate sale I think we'd try to get hold of the vendor to establish whether our offers have been passed on - or at the very least send them a letter stating our position/what we have offered - but obviously this isn't possible here......

Thanks again for all your thoughts/suggestions, they are much appreciated!

BISCUIT1

Good luck-hope you get it x

Slinky

phoebe1989seb wrote: »

I very much fear we might end up buying elsewhere too

We've never received any actual written acknowledgement of our offers from this particular EA which also sets alarm bells ringing. Just not having much confidence in their business practices and worry what dealing with them would be like going forward.

If this was anything other than a probate sale I think we'd try to get hold of the vendor to establish whether our offers have been passed on - or at the very least send them a letter stating our position/what we have offered - but obviously this isn't possible here......

Thanks again for all your thoughts/suggestions, they are much appreciated!

We never got a memorandum of sale on the one we bought!

Maybe this one just isn't meant for you. We're happier with the outcome of our house hunt, the town we have bought in has more of what we were looking for than the original one we were targeting.

Perhaps widening your search will have a better outcome for you (and you'll end up next door to Dave in Devon).

phoebe1989seb

OMG.......we just had a call to say our new offer has been accepted :j:j:j

We are delighted as we really think this one is right for us

Thanks again to everyone that has posted/given advice on this thread!

DaftyDuck

Well done!

Always better to play a gentle, quiet, polite hand than storm off in high dudgeon. Particularly in such locations....

Fingers crossed that this works through OK.

Slinky

Oh excellent, I hope it all goes well for you.

Davesnave

Whoopee!:beer:

You can't beat life in the s l o w lane!