Vendors demands - considering pulling out

KatieDee

Mrs36 wrote: »

If you love it and think it is worth it I would be straight up (I say that as someone who cannot bear to pay asking price!)

Do you like it more than the original house?

Funnily enough, it's identical in layout, just completely finished and with a bigger garden. It helped us to see what the other house could have been if we'd spent the money on it. Probably in terms of money, the difference between the two (although obviously you can't buy a bigger garden or better views).

I'm anxious because I just want an answer either way and if I was the vendor I would want to wait for offers to come in. I don't want to be demanding with time frames either, as that would make me a massive hypocrite

Happy to go in at asking price but I have never offered asking price on anything before and don't want to start myself off at a disadvantage or end up in a bidding war :eek:

Such a tough decision. Fed up of being an adult now...

lisyloo

We received an offer for asking price in sept 18.
That coupled with other information (not many 2 bed retirement flats available) reassured us that the buyer was committed.
Everything went through pretty well (her buyers solicitor was rubbish).

So my opinion FWIW as a seller is that it demonstrates commitment along with other information that EAs can pass on (such as your in rented acommodation).

Mrs36

Hmm. Maybe time for a frank conversation with the EA? I.e what do they need to take it off the market. If it has just gone on the market I'd say you probably have less negotiating room, especially if there is other interest.

I understand your reasons, the last thing you want is to make an offer, and then find the EA calling the other viewers to see if they'd like to make an offer. We had this with one particular EA and every time it sparked a bidding war, which I refused to engage with.

KatieDee

Mrs36 wrote: »

Hmm. Maybe time for a frank conversation with the EA? I.e what do they need to take it off the market. If it has just gone on the market I'd say you probably have less negotiating room, especially if there is other interest.

I understand your reasons, the last thing you want is to make an offer, and then find the EA calling the other viewers to see if they'd like to make an offer. We had this with one particular EA and every time it sparked a bidding war, which I refused to engage with.

The EA with this one is quite good and I've made a few offers through them before. I think she is going to be fairly surprised when I make an offer of full asking price :rotfl:

I just don't want them to see my enthusiasm and take advantage. It's on for "offers over" which always confuses me, but the vendor said he would be happy to get asking price or if we made lower and it was accepted, he'd have to make the same lower offer on his next purchase. Considering whether to be bold and go with over asking price with a time limit for acceptance or just asking price and have a long hard wait. A few grand seems like pennies now.

spirit

I think you are overthinking this.


If you love the house more than the other one, offer on that and withdraw from the other one.


It's a business decision now, forget all the other ins and outs of he said, she said etcl

Alfrescodave

The worst thing that you can do is to dither - make a decision and act on it TODAY.

Bollo2019

If you're now switching focus on this new house with an offers over asking price, go back with £1k over and see what the response is like. We had a vendor like that, OIEO £125k was actually "we want £130k" - (just bloody put it on for that then!). We started with £125k and agreed eventually on £128k after a bit of back and forth. Even £1k over is still an offer in excess of and a good starting point IMO.

Sounds to me like it represents a better proposition than the first house you were going for - same layout, nicer finished, bigger garden? Is the price massively different?

As per the post above, do NOT feel pressured into making a move - it's a huge commitment and you need to feel right about, not jump in too quickly. Have a good think, weigh everything up and good luck with it. Do you even know if the other viewers have made an offer or are even proceedable?

Slinky

spirit wrote: »

I think you are overthinking this.


If you love the house more than the other one, offer on that and withdraw from the other one.


It's a business decision now, forget all the other ins and outs of he said, she said etcl

Of course, only withdraw on the initial one when you're sure you don't want to proceed, otherwise you could end up with neither. We had an offer accepted on a property that came back on the market where we were previously outbid. I came home and found that a property 4 doors along from the first had just gone on the market. We viewed and offered on the second one but didn't withdraw our offer on the first until the second was accepted.

KatieDee

The EA of the new house called us today to ask our feedback. I explained that we liked the house and were considering putting in an offer, but did NOT want to get involved in a bidding war.

Apparently the vendor has had one offer, from a friend, who has sold their home but is in the early processes of doing so. I explained we were ready to go. The EA suggested we put in an offer.

So now I'm torn...the EA pretty much confirmed that the offer on the table is neither above, nor below the price it is on for, so I am considering our options.

Go for £206k, advise full and final and stress out position? Or aim to match theirs at £205k and let the vendor make his choice, knowing full well that is obviously a personal connection with the other potential buyer but we are in a more proceed-able position?

Bollo2019 wrote: »

If you're now switching focus on this new house with an offers over asking price, go back with £1k over and see what the response is like. We had a vendor like that, OIEO £125k was actually "we want £130k" - (just bloody put it on for that then!). We started with £125k and agreed eventually on £128k after a bit of back and forth. Even £1k over is still an offer in excess of and a good starting point IMO.

Sounds to me like it represents a better proposition than the first house you were going for - same layout, nicer finished, bigger garden? Is the price massively different?

As per the post above, do NOT feel pressured into making a move - it's a huge commitment and you need to feel right about, not jump in too quickly. Have a good think, weigh everything up and good luck with it. Do you even know if the other viewers have made an offer or are even proceedable?

The garden is bigger, but the rest of the property is pretty much identical in lay out. The different is £20,000, but the new house is ready to move in to, as opposed to the other which will need a lot of worth (new kitchen, bathroom, painting, plastering, etc).

Bollo2019

I'd imagine that if they're friends, they will feel inclined to give them the first refusal on the same offer.

We made an offer on a property when we were fully proceedable, but the vendor chose to go with a lady who had tried to buy the same house twice before, both times her house sale fell through, and she had only just accepted an offer again when we made our's - same price, but the apparent rapport they already had swayed it. Crazy loyalty from where I was stood.

If you have a good feeling about it, try and clinch it - go £1/2k over and get the EA to stress you're proceedable and that you're very flexible with timeframe - you can move quickly or delay it a little while, depending on what they want.

You might find that they may be more inclined to not have an awkward negotiation with someone they know.