Offering through Estate Agent when seller previously said no to selling privately to you?

deannagone

But if you don't move out voluntarily (you don't have to) the LL will have to evict through the courts, long waiting lists for court dates so could be there in another year.  Can't really see a purchaser (except for another LL) waiting that long.

I was in a private rental, LL wanted to sell but I knew people in the area who are LL's too, they said he was asking for too much money.  He didn't get a single offer and is still renting it today (with lots of voids).  I wouldn't have bought it in a month of sundays.., I knew exactly how badly the place had been extended, cardboard in place of walls (and plastered over), damp, uninsulated so very cold (and the roof of the extension actually fell in), boiler badly needed replacing (and had had a bodge job of a repair whilst I was there).  There were loads of things wrong with the house.  

I imagine you are in the same situation as I was.  But LL's/any vendor can be unrealistic.  I'd advise hanging on, seeing if the property actually sells and make your offer again if you really want to (not now, in a few months when the LL realises his house isn't quite the prize to buyers he wants it to be) but personally I'd find somewhere else.  This is only ever going to a pain in rear end to buy.

AdrianC

If the vendor doesn't want £140k, offered directly... he certainly won't accept £140k through an EA.
But will he accept £145k, £150k offered directly?

You don't want to pay £160k - but what is your ceiling price for it?

Going through the EA won't change anything. Upping the amount might.

Waiting until he realises that £140k is as good as it's going to get may also work, but you may find that while you don't think it's worth £160k, somebody else thinks it is...

BikingBud

The landlord needs to include the cost and hassle of achieving vacant possession, this could easily swing the price to something you could agree on.

meeemee

How long has it been on the open market? Many viewers? A lot of people wouldn’t want the house with tennents living there so that narrows the interest so he might meet you in the middle if there hasn’t been much interest.

steampowered

Sounds like another clueless landlord who spends the absolute minimum on maintenance, doesn't care for the property and then wonders why it isn't worth as much as the house next door.

We get a lot of those on here.

The landlord sounds delusional so keep searching for other properties.

Stubod

I would assume that if the owner has now contracted an EA then they will have to pay the EA fees now anyway? So making a "private" offer will not absolve them from any EA fees.

AdrianC

Stubod said:

I would assume that if the owner has now contracted an EA then they will have to pay the EA fees now anyway? So making a "private" offer will not absolve them from any EA fees.

The OP's first offer predates the EA being hired, so unless the vendor has been daft enough to agree to sole selling rights, they should be in the clear.

Tuikhe

AdrianC said:

If the vendor doesn't want £140k, offered directly... he certainly won't accept £140k through an EA.
But will he accept £145k, £150k offered directly?

You don't want to pay £160k - but what is your ceiling price for it?

Going through the EA won't change anything. Upping the amount might.

Waiting until he realises that £140k is as good as it's going to get may also work, but you may find that while you don't think it's worth £160k, somebody else thinks it is...

Only thing is I know from the get go that the price he wanted to achieve was 140k, I gave him what he wanted but he refused because of how crazy the market has been moving. But given the location and state if the house I’d say 140k was reasonable. EA’s during valuation said it would sell for 135-140 he put it up for 160k to ‘test’ the market. I would most likely make another offer between 140-50 and see how it goes. We’ve got a first viewing today. Its been on the market for a week

Tuikhe

deannagone said:

But if you don't move out voluntarily (you don't have to) the LL will have to evict through the courts, long waiting lists for court dates so could be there in another year.  Can't really see a purchaser (except for another LL) waiting that long.

I was in a private rental, LL wanted to sell but I knew people in the area who are LL's too, they said he was asking for too much money.  He didn't get a single offer and is still renting it today (with lots of voids).  I wouldn't have bought it in a month of sundays.., I knew exactly how badly the place had been extended, cardboard in place of walls (and plastered over), damp, uninsulated so very cold (and the roof of the extension actually fell in), boiler badly needed replacing (and had had a bodge job of a repair whilst I was there).  There were loads of things wrong with the house.  

I imagine you are in the same situation as I was.  But LL's/any vendor can be unrealistic.  I'd advise hanging on, seeing if the property actually sells and make your offer again if you really want to (not now, in a few months when the LL realises his house isn't quite the prize to buyers he wants it to be) but personally I'd find somewhere else.  This is only ever going to a pain in rear end to buy.

He’s counting on the fact that we’ll leave voluntarily. I am a bit worries about the eviction process. Court time vary in different area. So not sure how long we really have. I am viewing other houses but none that meet our needs. Sad but we’ve had a lot of plans for this place and spoke to builders already smh. I don’t think we will leave voluntarily as we’ve no other place to go 

Tuikhe

BikingBud said:

The landlord needs to include the cost and hassle of achieving vacant possession, this could easily swing the price to something you could agree on.

I explained that to him before he instructed EA. He is the one who proposed 140k. When he changed his mind I asked him what price he wanted in order for us to make this work. He said he didn’t know and wanted to see how it’ll do on the open market?