Denied!

jyonda

Summer 2006 we saw a house we wanted that was on for 265k we put in an offer for 250k. It needed completely gutting and refurbishing (old lady house, no GCH etc.) and it also had subsidence at the front with a crack so bid you could see daylight through it! :eek:

The money grabbing, sorry, grieving relatives actually thought it was worth 265k so turned us down and kept it on the market. Some Plonker paid 255k for it in Dec 2006. That's when I decided to give up.

virgin_moneysaver

jyonda wrote: »

Summer 2006 we saw a house we wanted that was on for 265k we put in an offer for 250k. It needed completely gutting and refurbishing (old lady house, no GCH etc.) and it also had subsidence at the front with a crack so bid you could see daylight through it! :eek:

The money grabbing, sorry, grieving relatives actually thought it was worth 265k so turned us down and kept it on the market. Some Plonker paid 255k for it in Dec 2006. That's when I decided to give up.

similar story of our last house 14 yrs ago - the grieving money grabbers put their old ma's house up for 63K (honest it was a lot then!) another house with no gch - in fact the old lady was 90 when she died & had lived there all her married life so you can imagine - the neighbour told us that a couple of years earlier they turned down an offer of 57K as they wanted 60k so they could have 20k each - we bought it for 47k after it being on market for 5 years! - 10 years later we sold it for 180k:rotfl:

firsttimetom

He has a point.

Wait a week and reduce the offer.

Might act as a wake up call.

Even if it doesn't work, it will give you satisfaction.

You definately have to do this. I think the agents are bind to pass on an offer.

Make sure they know its the same guy who put in an offer before and say 'We've had a think and would like to put in another offer, £239,000'

Like RH says, it might act as a wake up call for them.

pamaris

The sellers are in la la land and are being overly optimistic due to only being on the market for a week and watching too much property !!!!!!. Do not increase your offer, whatever you do. More houses will come onto the market after Christmas, and by then these vendors will have had a reality check. So many deals are going to fall apart in the coming months due to tightened lending and frightened buyers that a genuine buyer who is ready to move is going to be a very hot commodity. I am sure that if you are patient you will get a much better deal than this.

Just keep looking and making reasonable (to you) offers and soon enough you will find motivated sellers such as Chriseast has done.

John_Pierpoint

Why is the seller selling such a valuable house?
Have you checked the Land Registry to see what the "seller" paid for it, and what sort of mortgage they have on it?
How about the neighbours? Could check them out at the same time.

merlinthehappypig

pamaris wrote: »

Just keep looking and making reasonable (to you) offers and soon enough you will find motivated sellers such as Chriseast has done.

Sadly, the ones that are prepared to reduce the most are the houses we like the least - twas ever thus I guess......

jonewer

John_Pierpoint wrote: »

Why is the seller selling such a valuable house?
Have you checked the Land Registry to see what the "seller" paid for it, and what sort of mortgage they have on it?
How about the neighbours? Could check them out at the same time.

I know how much they paid for for it, but how can I find out what type of mortgage they have got?

BrandNewDay

I just had a crazy thought...

What effect might it have to have a friend or two make offers over the next couple of weeks for even lower? Like, make some scathing comments about why they would be willing to take on such a project for £220, but only if this or that is done, first.

dunstonh

Don't laugh, I remember the last big crash, & this will be worse.

It wasnt so much a crash but a 6 year decline. It peaked in May 89 and continued to drop to a low point in Jul 95 (Halifax property index).

The drop really started good and proper in 2001 not long after property investment funds started to drop. Property investment funds then went 16 years without a loss until July 2007 which saw the first quarterly loss since the last property crash. Ironically, the Halifax price index is now showing a loss in the last month as well. So, history could be repeating itself with the property investment funds reacting before the house prices.

dolce_vita

BrandNewDay wrote: »

I just had a crazy thought...

What effect might it have to have a friend or two make offers over the next couple of weeks for even lower? Like, make some scathing comments about why they would be willing to take on such a project for £220, but only if this or that is done, first.

Nothing crazy about it.

That's standard practice to me.