Rejecting Askin Price Offer

rik111

Sounds like you are letting agent do the viewings which they don't have time to do and are turning away potential purchasers... Why not fo your own viewings and see what happens, just tell the agents to get as many viewings in next 7 days and advise interested parties you have second viewings booked in,
Sounds like agent wants property sold so they don't have to waste any more of their time on viewings...

amandacat

My house went on the market last November and the first person to view offered asking price during the viewing, my EA cancelled 7 other viewings booked as I’d got asking price. When they pulled out, it went back on the market and I got asking price again straight away. I realised then the EA underpriced it but I carried on for a quick sale and completed in January. When I looked on Rightmove, comparible houses were on the market for 10-15k more and had sold straight away. 

Until the land registry updates I won’t be able to see if they actually sold for asking price though but as they sold quickly I assume they did. 

Ever since the end of January I’ve been annoyed with myself for not insisting to the EA that the other viewings went ahead, or not marketing at 10k more. My EA wanted a quick and easy sale like yours. When I compare this to my cousin who sold at a similar time, she had it on the market for 3 weeks before things picked up and then 4 people offered and there was a bidding war encouraged by her EA and she got 20k over asking, mine was far too lazy/busy to do this and just cancelled other viewings once asking price offer was on the table. So I don’t personally think there’s anything wrong with you wanting other viewings to go ahead first to see if you get any other offers but be honest with those who have offered. 

Octothorpe

rik111 said:

Sounds like you are letting agent do the viewings which they don't have time to do and are turning away potential purchasers... Why not fo your own viewings and see what happens, just tell the agents to get as many viewings in next 7 days and advise interested parties you have second viewings booked in,
Sounds like agent wants property sold so they don't have to waste any more of their time on viewings...

Yes I think that's it, it was them who agreed go low to get it bid up. In hindsight I'd have just put it on for what I wanted.

When I said to them to get the waiting list people in to view they seemed surprised! 

I know everyone says their house is great etc, but honestly,  ours all done up compared to the other few on the market is light years apart!!

We are motivated to sell, but if we are having to pay bubble prices i don't see why i should be selling for a bargain price.

I'd rather get less and on my upgrade that's going to be nearly 200k more at the moment, only pay 120k extra!! But house prices are crazy at the moment!!

JJR45

Octothorpe said:

I know everyone says their house is great etc, but honestly,  ours all done up compared to the other few on the market is light years apart!!

It can depend on the street as well.
Ours only sold for £5k more than next door even though we had spent £20k on it in 4 years doing it up. We could have done nothing and got the same (as it already had an extra bedroom), sometimes people will not pay more than the ceiling for the road.

Why not wait until prices settle if you want to be sure on the trading up price.

lookstraightahead

Remember with all these comments it's fine trying to get people to up their offers, but most will have to get mortgages, and the houses will be valued accordingly. If you're too greedy, the mortgage company may 'down' value and you have to start again, and then you miss out on any stamp duty holiday.

Greymug

why did you agree for an asking price of X if really you wanted X+Y?

you ask for the price you're happy to accept. wrong strategy on your part and EA seems a bit useless.

Octothorpe

amandacat said:

My house went on the market last November and the first person to view offered asking price during the viewing, my EA cancelled 7 other viewings booked as I’d got asking price. When they pulled out, it went back on the market and I got asking price again straight away. I realised then the EA underpriced it but I carried on for a quick sale and completed in January. When I looked on Rightmove, comparible houses were on the market for 10-15k more and had sold straight away. 

Until the land registry updates I won’t be able to see if they actually sold for asking price though but as they sold quickly I assume they did. 

Ever since the end of January I’ve been annoyed with myself for not insisting to the EA that the other viewings went ahead, or not marketing at 10k more. My EA wanted a quick and easy sale like yours. When I compare this to my cousin who sold at a similar time, she had it on the market for 3 weeks before things picked up and then 4 people offered and there was a bidding war encouraged by her EA and she got 20k over asking, mine was far too lazy/busy to do this and just cancelled other viewings once asking price offer was on the table. So I don’t personally think there’s anything wrong with you wanting other viewings to go ahead first to see if you get any other offers but be honest with those who have offered. 

Thanks for this

We had more viewings yesterday and both said they would be calling with an offer today!

Just got to wait and see now - one of them is also a FTB so in a good position. 

Fingers crossed!!

Crashy_Time

lookstraightahead said:

Remember with all these comments it's fine trying to get people to up their offers, but most will have to get mortgages, and the houses will be valued accordingly. If you're too greedy, the mortgage company may 'down' value and you have to start again, and then you miss out on any stamp duty holiday.

That is exactly what is happening more and more now, sellers have silly expectations but the bank puts a reality stamp on it.

Marvel1

You put the price you wanted, I offer it in full, you say no, I wouldn't bother and think you are a time waster.


If you want more than advertise for it!

powerful_Rogue

Octothorpe said:

amandacat said:

My house went on the market last November and the first person to view offered asking price during the viewing, my EA cancelled 7 other viewings booked as I’d got asking price. When they pulled out, it went back on the market and I got asking price again straight away. I realised then the EA underpriced it but I carried on for a quick sale and completed in January. When I looked on Rightmove, comparible houses were on the market for 10-15k more and had sold straight away. 

Until the land registry updates I won’t be able to see if they actually sold for asking price though but as they sold quickly I assume they did. 

Ever since the end of January I’ve been annoyed with myself for not insisting to the EA that the other viewings went ahead, or not marketing at 10k more. My EA wanted a quick and easy sale like yours. When I compare this to my cousin who sold at a similar time, she had it on the market for 3 weeks before things picked up and then 4 people offered and there was a bidding war encouraged by her EA and she got 20k over asking, mine was far too lazy/busy to do this and just cancelled other viewings once asking price offer was on the table. So I don’t personally think there’s anything wrong with you wanting other viewings to go ahead first to see if you get any other offers but be honest with those who have offered. 

Thanks for this

We had more viewings yesterday and both said they would be calling with an offer today!

Just got to wait and see now - one of them is also a FTB so in a good position. 

Fingers crossed!!

Did the offers come through?