Offered asking price - rejected. Tactics?

AdrianC

Just get over it, accept they want more than you want to pay, and go and look at the cheaper place...

kazwookie

I'd be walking away, I hate game playing when buying a property.

Crashy_Time

yojimbo_beta wrote: »

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.

They are just trying it on, go quiet on them and look at other properties.

kinger101

yojimbo_beta wrote: »

Hello MoneySavers. I was wondering if some seasoned housebuyers could give me advice.

I recently found a nice flat in a decent location, being sold by vendors who I was told would be highly motivated to sell. They have already moved out to a new location, so I suspect they are paying both rent and a mortgage simultaneously.

I was keen on the property and preferred a quick move, so I offered the asking price. Perhaps this was an error.

Yesterday the EA phoned me to say that the vendors have rejected the offer. Their "financial circumstances have changed" (rental costs?) and any sale means the house has to be empty for a few months. Therefore they'd like another five grand.

I know they are looking at renting the flat out, but I've also found out there's a similar flat on the same street selling for £10k less. The rental price they're advertising looks a tad ambitious for the area (which I know quite well).

What do you think is going on here? Is the vendor just trying to put me under the squeeze? Honestly I'm a little taken aback - they asked for a price, and I offered it. I'm a FTB and in a good position to buy. I don't believe any other offers are on the table.

The property is nice and I could wriggle mortgage-wise but from the sums I've worked out I'll end up in a worse LTV band - which could have implications for the price of the debt.

Should I just give them a deadline and let them stew on it? I am willing to walk away from this property.

I'd make them a new offer. £10K below your previous one. Then buy the other one anyway.

AnotherJoe

Irritates the bejasus out of me when vendors won't accept an AP offer.
Assuming you don't totally wish to rule yourself out, I would withdraw and tell the agent you might be susceptible to a similar price were they to change their minds but yiu are looking at other houses

lees80

Walk away - they're playing games. My house is on the market, obviously I'd accept an asking price offer immediately as I'm in the market to move. The sellers personal circumstances aren't anything for you to worry about.

getmore4less

No need withdraw you let them make the next move.

If agent comes back you just say as they regected the offer at ASKING price you thought that was it you have been looking at other cheaper places.

Have a proper think and research what it might be worth.

MysteryMe

The vendor is playing games. Why on earth should you be expected to pay for their change in circumstances. That's nothing to do with the value of the flat.

Don't start playing games in some kind of race to the intellectual bottom as some are suggesting as it just makes you look like a muppet as well.

If you still want the flat then let the offer sit but I would definitely be looking elsewhere. Good luck with your flat hunting.

DCFC79

Have you viewed this other flat yet ?

View the other flat, it might be better than the other 1.

amandacat

I made the mistake of offering full asking price once, I liked the house and it was new to the market so I felt I should offer full price. EA rung me back and said vendor said he wanted over asking price as it’d just gone to market and he’d also had another offer. I said no thank you and the EA was annoyed but I ended the call. The interesting thing is it never went to sale agreed for months and was eventually withdrawn from the market so I don’t know if it was a lying EA or a greedy or unmotivated vendor.

My house is going on the market soon. I’m realistic that asking price will be above what I expect to receive so if I got a quick offer at asking price I’d accept it immediately.