Is this cash buyer playing a game?

[Deleted User]

New to the forums...

We bought our house a few years ago as first time buyers and put it up for sale a week ago. Had a few viewings last week and then 2 yesterday and more booked in this week. All feedback has said price is very good (but just hasn’t been the right house for them). The guy yesterday was a cash FTB who travelled 3 hours on the train just to see our house, spent over 20 minutes in the house and then went back home again. He then rang and offered 20k below asking price once he was home. Our house is up for £205k and he offered £185k. This is too low for us as we bought the house for £177k and completely refurbed everything you could think of - the Estate Agent said it was a very cheeky offer and went back to say we would like as close to asking price as possible. He then said he’d sleep on it. This morning comes round and the agent phones and said the cash buyer really likes the house, really wants to buy it and said he will increase his offer but won’t say when... So it’s been a horrible day of stress as we wait for the buyer to come back with a second offer. Is this what he wants? Is he playing a game? Will he actually come back to us? We’re new to this whole process so just very confused and don’t want to get our hopes up or start looking at houses. Happy to meet him at 195k but is it too desperate to ring tomorrow and ask the EA to tell him that? We do have a lady viewing tomorrow who is in a position to buy so if she offers, surely he snoozes and loses? Please do let me know if I’ve got myself worked up about absolutely nothing and thank you in advance for your replies 

JGB1955

Far too early to accept a 'below price' offer.  Your EA is telling you not to accept it... why would you ignore that advice?  The potential buyer is playing games.... ignore him.

Crashy_Time

He is going to come back with 190k, I think you should take it.

Slithery

Crashy_Time said:

He is going to come back with 190k, I think you should take it.

How could you possibly know what the OP's house is worth?

swingaloo

Ignore the above post, Crashy tells everyone they are asking too much. If the buyer increases the offer then all well and good but you have other viewers lined up and its very early days. Just forget about him, if he really wants the house he will offer more an its your choice whether or not to accept.

blue_max_3

If you think it's stressful for you, think about the potential buyer! You have and will have further viewings/offers. Sounds like the house is worth the asking and you'll probably bend a little. But try not to focus on a single buyer. Go out for a half price pizza and reflect on how much you can do that with another £10k+.

Crashy_Time

blue_max_3 said:

If you think it's stressful for you, think about the potential buyer! You have and will have further viewings/offers. Sounds like the house is worth the asking and you'll probably bend a little. But try not to focus on a single buyer. Go out for a half price pizza and reflect on how much you can do that with another £10k+.

? You seriously think someone who just offered 20k below asking is bothered whether they buy this house or not, or won`t find plenty of similar houses to make low offers on? It looks like they are more attached to value than any particular property.

[Deleted User]

Amazingly, there is hardly anything ‘cheap’ available in my area (Seaside town in the SE). So it’s quite a competitive market as there are a few dingy terrace houses around the 160k mark that need lots of work and then mine, and after that nothing until the 215k mark.

OldMusicGuy

He's trying to put you under pressure to accept a lower than asking offer, and it appears to be working. Fair play to him. You cannot use "logic" to say what he will or won't do. Unless you are desperate to sell, hold your nerve otherwise you will weaken your position. You have only been on the market for a week, if the market is as competitive as you say it is, why are you worrying? 

eidand

Look, a lot of buyers are p[laying games. You need to give this time. If you are getting viewings then the price can't be too crazy.
You need to have a clear idea what you'd accept and anything below just say thanks, but no thanks.
One week is nothing. Give it at least 2 months because you think of reductions.
If he is putting you under pressure now, imagine what will happen after the survey ...

jonesMUFCforever

If I was a buyer I too would put in a cheeky opening offer - just to see how desperate the sellers are?
If I really thought it was the house for me I would come back with incremental offers until I reached the price I would be willing to pay. So even if he comes back with a second offer don't rush into accepting (unless you are really happy to sell at that figure).