Offers over in a slowish market

Cakeguts

Offer what it is worth to you and if they don't accept it look for another house.

Crashy_Time

ForzaFifer wrote: »

i doubt they will get 290, i'll take my time over the weekend before i make another offer, and it will be my final offer.

Dont know about Brexit, everyone has a different opinion on it, so im not really factoring that in right now.

How do they compare to recent sold prices for similar property?

ForzaFifer

Crashy_Time wrote: »

How do they compare to recent sold prices for similar property?

im not seeing too many similar properties sold recently in the area, there were a few back in July, bigger, nicer properties with gardens that sold for 325, which is around the time the property I like went on sale.

PasturesNew

If they are selling, they are probably buying their next house. If they don't NEED to sell, then they don't have to take any figure other than the one they have in mind.

If it's a slow market they might be quite happy to wait... there's no rush if they don't NEED to sell. Indeed, in a slow market there's fewer to choose to buy, so they might not even fancy what's for sale yet.

ForzaFifer

PasturesNew wrote: »

If they are selling, they are probably buying their next house. If they don't NEED to sell, then they don't have to take any figure other than the one they have in mind.

If it's a slow market they might be quite happy to wait... there's no rush if they don't NEED to sell. Indeed, in a slow market there's fewer to choose to buy, so they might not even fancy what's for sale yet.

Its chain free, the estate agent just told me they want out. The seller doesn't live in it, their friend is in it for now, the woman living there for now says the owner just wants to sell.

csgohan4

ForzaFifer wrote: »

Its chain free, the estate agent just told me they want out. The seller doesn't live in it, their friend is in it for now, the woman living there for now says the owner just wants to sell.

That will complicate things, depending if they pay rent, it may take a while to get them out, friend or not. Evictions can take a while if they refuse to leave

AnotherJoe

Seems to me there are two unrealistic parties here.
You offer less than the offers over price, they say they won't accept a price that is more than their offer over, but want a higher one, in which case it should be their offers over price, eg 290 !

dunstonh

I dislike the "offers in excess of" listings. Especially as often that is not the case.

We recently had an offer accepted where we went in at 94% of the asking price on an offers offer listing and they accepted it.

Our own was not offers over but we have accepted a revised offer on ours at 98% of the asking price. We actually had accepted asking price but the !!!!!!s gazundered us and the stage we were at, we couldn't afford to start over.

An identical property to ours other than maintenance and garden size was on the market for over 10% less than ours just two weeks earlier. Both sold within a week. House prices are estimates and what people are willing to pay and accept. Desirability can be high with one person and low with another. So, you can't really say whether something is worth it or not as it may be worth it to one person but not another.

hazyjo

It's a cheap price for London, so perhaps people are cautious re the area? Especially as some of the market is static or dropping nearby. 'Risky areas' do tend to suffer most when the market's a bit wobbly.


What they want, and what people are willing to pay for it, seem poles apart. If it was a good deal, it would have been snapped up. Remember, it's only worth what someone will pay for it.


Try to find out if it's had any actual offers at all on it before. Bear in mind the EA may lie or stretch the truth. I would be VERY reluctant to buy it for more than £275k and, if you felt it was worth that, maybe offer it and say final offer and walk away after. Not sure why they think it's worth more when nobody's paying it (unless they've had lots of offers around the £275k mark!).


£290k on a £275k property (with apparently no interest) sounds far from reasonable to me. Way over-ambitious to say the least!

Linton

How much do you want the house? If you really want it offer something close to what the seller wants. If you dont want the house (at that price) leave your offer on the table and seriously look elsewhere. No point in getting stressed, worrying or even thinking any further. Buying/selling houses should be fairly simple. Asking price, preliminary offer, response, agreement and no messing about.