Selling our house - potential buyer, but unsure how to proceed

warby68

If you don't like your potential buyer then don't sell.

However, personality aside, a £240k offer v £250k asking really is not ridiculous and actually pretty reasonable in most circumstances, although I understand to your perception of value its really v £260k.

It comes down to how much you want the other house.

Bear in mind that £5k-£10k over time really makes very little difference, Its only critical at the lower end, if you might have to sell very frequently or are really pushing your budget. So don't get hung up on 'winning' for the last few k of a deal. Try and see that as the bit worth paying (or not) for the perfect house and/or the right timing.

pinkteapot

Agree with everyone else above, buuuutttt.... I'd have the same gut feel about this particular buyer. They fact they tried a cheeky £210k and then immediately went to £240k would put me off and make me think they're the type to try dropping the offer after the survey or close to exchange. On balance I'd probably accept it but be nervous!

Thrugelmir

Schro wrote: »

This is purely a personal thing, but the attitude of the potential buyer is not helping matters. I also am wondering, if he is so certain he can get a house for cheaper, then why hasn't he?

Leave the emotion out of the transaction. This is business. If the offer made isn't high enough. Decline it. Then it's to the them to come back with a higher offer.

SmashedAvacado

OP - I am a bit confused as to which bit of the buyer's approach was arrogant?

Crashy_Time

AdrianC wrote: »

You seem to be under the impression that the price you paid plus the amount you spent somehow affect the value in today's market - and that the price you accept for your sale somehow affects the price your vendor will accept.

They're all totally unrelated...

If you don't want to accept £240k for your sale, so be it. But it stops you being a proceedable buyer on your purchase.

Is the £5k-10k difference on your purchase a showstopper in terms of affordability?

True, the guy making an offer after a short viewing isn`t arrogance, it is just reality in this market, he already knows the OP is over-priced.

Mutton_Geoff

Schro wrote: »

after a month the estate agents strong armed us into reducing it to £250k

Schro wrote: »

Our agent is not saying whether it's a good offer or not, and is not pressuring us to take it

Seem to be contradicting themselves. Are you "strong armed" into giving up £10k in other financial arrangements?


Remember, this is business, you are the agent's (and solicitors) client. You should be driving the sale, it's the agents job to introduce a buyer.


If your prospect has not had a second viewing or checked things like electrics/boiler etc then I'd say they weren't serious. It's also a very quiet time of the year to be selling even without the political mess around us.


I'd be tempted to take it off the market and wait til spring. I predict the market will be a lot more buoyant as there must be thousands of people (buyers and sellers) playing "wait and see" and only people out househunting are bargain hunters and the three D's.

gwynlas

Unless you really want to move I would sit tight and wait until the Spring by which time there should be more indicators where things are going politically. One bed houses have a limited market as even though you save on service charge versus flats space can seem less as spread over two floors.
Would you be prepared to provide a link?

DCFC79

How many valuations have you had ?

Schro

Crashy_Time wrote: »

True, the guy making an offer after a short viewing isn`t arrogance, it is just reality in this market, he already knows the OP is over-priced.

I am not sure how you can claim my house is over-priced. It is comparable to similar houses in the area which have sold at similar prices recently.



The reason I believed he was arrogant is that his attitude in response to increasing his offer. We have put effort into the house to make it look good. To basically be told that what we did amounts to having thousands taken off what we paid is frustrating and kinda frankly insulting (he originally offered 210k)

Mutton_Geoff wrote: »

Seem to be contradicting themselves. Are you "strong armed" into giving up £10k in other financial arrangements?


Remember, this is business, you are the agent's (and solicitors) client. You should be driving the sale, it's the agents job to introduce a buyer.


If your prospect has not had a second viewing or checked things like electrics/boiler etc then I'd say they weren't serious. It's also a very quiet time of the year to be selling even without the political mess around us.


I'd be tempted to take it off the market and wait til spring. I predict the market will be a lot more buoyant as there must be thousands of people (buyers and sellers) playing "wait and see" and only people out househunting are bargain hunters and the three D's.

The agent convinced us to go to 250k. But he is not saying whether 240k is a good offer or not.


As for the potential buyer, he is an electrician and feels convinced he has judged the house accurately. He didn't check the boiler or electrics though. Part of us is wondering whether to leave it for a bit as well.

gwynlas wrote: »

Unless you really want to move I would sit tight and wait until the Spring by which time there should be more indicators where things are going politically. One bed houses have a limited market as even though you save on service charge versus flats space can seem less as spread over two floors.
Would you be prepared to provide a link?

I am going to avoid posting a link as I don't want repercussions of someone involved reading this conversation.

DCFC79 wrote: »

How many valuations have you had ?

Two, which at the time they both said £260-265k.

pinkteapot wrote: »

Agree with everyone else above, buuuutttt.... I'd have the same gut feel about this particular buyer. They fact they tried a cheeky £210k and then immediately went to £240k would put me off and make me think they're the type to try dropping the offer after the survey or close to exchange. On balance I'd probably accept it but be nervous!

It's another reason why I am dubious about him.

Cash-Cows

I'm not sure your strategy of buying a house spending a load of money on it and then trying to sell at a profit is a winning strategy. Notwithstanding the points made already fees eat into returns in the short term. I hope you're new home is much more long term or I sense there will be a similar post in a few years.