Offer declined yesterday, house price reduced today

D_M_E

Why not try offering direct to the vendors?

Start at say £460k and work up from there - PB get paid whatever and seller could be getting desperate to move on, so a direct approach could work.

getmore4less

Giggidy wrote: »

It did feel like they weren't really pushing hard to get us to up our offers. I know I said final offer but I was fully expecting them to at least try to get me to reconsider, isn't that the point of negotiation on behalf of your client

They did in very plain clear language

The estate agent (Purple Bricks) said the vendor would not accept less than £470,00

What was your response to that?

They made it very clear your "final" offer was not enough.

HaveAGo

Why call it your final offer when you are now saying you may have offered more?

I don't get why you think the onus is on the vender to come back and negotiate after you make a 'final' offer and you have been told their minimum.

justjohn

PB offers system is person to person. When the seller gets an offer on there dashboard. They can refuse or counter. If they refuse they can ask there regional rep to step in and negotiate.


There may be many reasons they refuse to use PB's negotiation service(its free). Also the vendor may not be aware of how to use the offers system properly.


There are no limits to the offers you can put in. If you are a cash buyer/no chain buyer tell them to promote the sale.


Think you came in to high to start with. prob take 465k now lol

getmore4less

It might just be they have reviewed the time on the market along with the offers and have reset their expectation and are ready to create interest to get the place sold.

What else is out there for your £464k

Have you sold yours yet?

billy2shots

Giggidy wrote: »

We made a final offer of £463,500


But I would have at least expected them to try, and actually puts me off using Purple Bricks for our own valuation, as so far their sales technique has been underwhelming

As others have said, you made a 'final offer'.

Then there is the second little gem. Have you not even got your house for sale yet? No wonder your offer wasn't taken seriously!
This would be the bigger factor out of the two issues.

getmore4less

I am guessing it is number 6*.

Nice place but I am also guessing the extension did not cost them £150k

Other 3 beds(not as nice) on that street have sold for over £460k over a year ago.
what has the local market been like?

They may be ready to cash out their project.

if that is not the one then it is a nice place for someone.

AnotherJoe

Giggidy wrote: »

We made a final offerof £463,500 on a 3 bedroom house listed as guide price £475,000-£500,000, which was declined. The estate agent (Purple Bricks) said the vendor would not accept less than £470,00 and if we can't meet that, we should just leave things. I thought it strange that the estate agent didn't try to negotiate with us to increase our offer which we were prepared to do, but obviously not to £470,000. But I would have at least expected them to try, and actually puts me off using Purple Bricks for our own valuation, as so far their sales technique has been underwhelming

If you were prepared to renegotiate higher than 463,500, how would the vendor know that, seeing as you said it was your final offer? Maybe to you "final" doesn't mean final, but it does to most people. And the EA did tell you what you needed to do,

P.s. just read your house isn't up for sale yet! Jeez. Assuming you need to sell it to buy this one, your offer is not one capable of being accepted anyway.

jonboy321

I was often advised by estate agents to list at a range so you get more eyes on your property- as you get those at the lower range. Their logic is they can then negotiate up.
I think they are trying to get more viewings through the door (they obviously know their property is saleable).
The words 'final offer' denote that you are not prepared or can't go any higher- they aren't just what you say going into a negotiation. You say it to signal if it is not accepted then you'll walk away. I don't know why you expected them to come back? If you want to offer more then you can do it again- but don't be surprised if when you offer more they come back asking for more because they don't believe your new maximum is all you can afford.

billy2shots

I think the OP needs to clarify if their property is actually on the market.

All this talk of offer amounts and final offers is irrelevant if they haven't even began to market their own place.

Whilst some desperate sellers may entertain offers from people who haven't sold, the vast majority of us would not.

Our housing system is a slow antiquated process and people making offers when they aren't in a position to proceed holds things up even more.