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Offered asking price - rejected. Tactics?
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All the relevant information is in this snip-down.
There are two similar flats for sale in the same street. One is asking £15k less than the vendor of the other wants.
...and...?
To be fair - the asking price of the other place is £10k less than the asking price of the place the OP has offered on. There's nothing to say that the other place may also reject an asking price offer and look for an extra £5k (or more).
Of course they may also accept an offer of £5k less, so a differential of possibly £20k. It's all conjecture. 0 -
Indeed. Which is why I worded that the way I did...To be fair - the asking price of the other place is £10k less than the asking price of the place the OP has offered on. There's nothing to say that the other place may also reject an asking price offer and look for an extra £5k (or more).
Of course they may also accept an offer of £5k less, so a differential of possibly £20k. It's all conjecture.AdrianC wrote:One is asking £15k less than the vendor of the other wants.0 -
Have a look at another properties that same agents have to show that your not interested in that property anymore and withdraw your offer. They know your really keen and trying to squeeze out every single penny out of you. The property is, worth what it is, its nothing to do with owners financial situation or plans etc.
Show your not interested and they will come running after you. That time offer 5k less that what you0 -
Rarely a good idea to offer asking price. The vendor will think they priced it too low, and they'll think that as one's willing to pay the asking price, there will be a queue of people willing to pay more.
If their financial circumstances have changed, let them take out a loan. It's not for you to bridge that gap - you might as well give them a loan yourself! At least you'd get it back! They will be far more out of pocket if it sits there empty every month.
No way would I leave my offer on the table. I would say 'thank you Mr Estate Agent, but please withdraw my offer. If their situation should change in the near future, please come back to me.' You can then either stick to your offer, or reduce.2024 wins: *must start comping again!*0 -
get some friends to visit and view the flat and subsequently offer £30k less than asking. When you come back with your asking price offer again, it will seem more reasonable.0
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Thanks for the advice everyone - seems I am right to stand my ground.
Another thing that worries me: if the sellers are saying their "financial situation has changed" (according to the estate agent, at least) - is it possible they could fall into mortgage arrears? Presumably at that point the whole sale could be scotched.0 -
Deleted_User wrote: »Sounds like the vendors are taking the pish
A change in their financial circumstances does not suddenly mean their flat is worth 5k more.
Why should you be paying for their circumstances, whatever they may be?
Good advice, the OP needs to be looking at offering 15-20k less, the seller needs to take some overtime if they can`t afford their rent.0 -
Or they've won the lottery, and no longer need to sell quickly.yojimbo_beta wrote: »Another thing that worries me: if the sellers are saying their "financial situation has changed" (according to the estate agent, at least) - is it possible they could fall into mortgage arrears?
It's massively unlikely their lender (or a trustee in bankruptcy) would get stroppy enough to start repossessing if it's already got a sale going through.Presumably at that point the whole sale could be scotched.0 -
Is there a link or a general postcode area for this house?0
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Actually the more I think about this the crosser I get. I offered the asking price because I thought they were keen to move and there wouldn't be any hassle. I figured anyone in their position would be eager to sell - now they want me to pay for their mistake moving too early?
I'm tempted to tell the agent I'm removing my offer and will be downgrading it 5k.0
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