OFFERED ASKING PRICE. VENDER FAFFING

brasso

Exodi said:

brasso said:

If I walk into an antique shop and see something labelled as £10, I expect to be able to buy it for £10 rather than be told to come back later in the week just in case someone wants to offer £11. 

Apples with apples. It would be like sprinting into an antique shop, where they had just placed a new antique in the window for £10, where people stampede into the store behind you to also look at it, but you run up to the cashier first waving £10 in your hand and demanding them to accept it and take it off the shelf before any more people see it.

But moving away from hyperbole, you are right that the housing market is different. An auction house might look the other way for a couple of quid in the name of doing the 'right' thing (if you think the right thing to do is to offer exclusive rights to a random person by sole virtue of them being free for a viewing sooner than somebody else) but this is less easy to do when you're talking about thousands and thousands of pounds and/or months of headache.

I think we browse in different sorts of antique shops...

Thrugelmir

brasso said:

As usual, some people are being rather condescending and unsympathetic to a FTB. Perhaps the same type who hoot their horn at learner drivers. 

Sympathy for what precisely?  You are the one coming across as condescending with your "as usual".  In the process adding nothing to the conversation regarding the point being discussed.  Learning not to be offended, and accepting that others hold differing opinions for a variety of reasons,  is part and parcel of growing in maturity.  Bottom line is that we all free to make our own decisions. 

brasso

Thrugelmir said:

brasso said:

As usual, some people are being rather condescending and unsympathetic to a FTB. Perhaps the same type who hoot their horn at learner drivers. 

Sympathy for what precisely?  You are the one coming across as condescending with your "as usual".  In the process adding nothing to the conversation regarding the point being discussed.  Learning not to be offended, and accepting that others hold differing opinions for a variety of reasons,  is part and parcel of growing in maturity.  Bottom line is that we all free to make our own decisions. 

Yes, and it's my opinion that there's quite a lot of snottiness on the property boards towards newbies from certain people (not necessarily general forum grandees like yourself), and so the "as usual" is appropriate. As for whether I added nothing to the discussion, it was a bit mean to remove my second paragraph in the quote and then come out with that. But I'm certainly not 'offended' by that either; I just don't like unnecessary pile-ons aimed at people who are clearly here to seek reassurance and advice. Perhaps the capitalised thread title and the 'faffing' created a bit of mild hysteria among the worthies.

Sistergold

It’s not even always about a higher offer, it might be that they find a buyer with better circumstances than you. A buyer who wants to move fast when they have not been able to find their onward purchase will put pressure on them for instance. Whereas a FTB living with parents and don’t mind when completion will be might work better for them than a FTB in rental needing to move out as they are paying rent or have a deadline to move out. 

Fingers crossed they decide you are their best option and hope they get back to you soon. 

lookstraightahead

brasso said:

Thrugelmir said:

brasso said:

As usual, some people are being rather condescending and unsympathetic to a FTB. Perhaps the same type who hoot their horn at learner drivers. 

Sympathy for what precisely?  You are the one coming across as condescending with your "as usual".  In the process adding nothing to the conversation regarding the point being discussed.  Learning not to be offended, and accepting that others hold differing opinions for a variety of reasons,  is part and parcel of growing in maturity.  Bottom line is that we all free to make our own decisions. 

Yes, and it's my opinion that there's quite a lot of snottiness on the property boards towards newbies from certain people (not necessarily general forum grandees like yourself), and so the "as usual" is appropriate. As for whether I added nothing to the discussion, it was a bit mean to remove my second paragraph in the quote and then come out with that. But I'm certainly not 'offended' by that either; I just don't like unnecessary pile-ons aimed at people who are clearly here to seek reassurance and advice. Perhaps the capitalised thread title and the 'faffing' created a bit of mild hysteria among the worthies.

I do think those who think FTB status is not worthy either:

want to sell their house for more than it's worth
Or
dont want to move quickly and prefer a long long chain - leaving their buyer dangling so that they can move on a sloth-like way
Or
Don't want to answer questions about the house.

If you really want to move as a vendor, and want a reasonable but sensible price for your house, and you are happy to answer questions, a FTB is a great result.

newsgroupmonkey_

lookstraightahead said:

Me, personally ...

I wouldn't have offered asking. But if I had and the vendor still wasn't happy, I would tell the EA that I'm still looking and that the vendor can accept or decline in their own sweet time. I wouldn't let the vendor call all the shots. It's their prerogative to not accept your offer or to wait, but you can choose your response.

I don't think it is a sellers market to be honest, but that's a separate debate. Up to you to do your own research on what you believe to be true. Emperors new clothes, as I keep saying.

Good luck - you would think offering what the vendor wanted would be enough. But no they want more more and some more. 

I'm really unsure where the place you bought for 50% under the asking price is, but most of the South East is a seller's market. I'm not making this up just based on conjecture and personal opinion.

Facts are, housing supply is very low. Lots of buyers. Very few sellers.

See the quotes from PropertyMark

https://www.theguardian.com/money/2022/jan/03/uk-housing-market-expected-to-stabilise-in-2022-after-bumper-year

lookstraightahead

newsgroupmonkey_ said:

lookstraightahead said:

Me, personally ...

I wouldn't have offered asking. But if I had and the vendor still wasn't happy, I would tell the EA that I'm still looking and that the vendor can accept or decline in their own sweet time. I wouldn't let the vendor call all the shots. It's their prerogative to not accept your offer or to wait, but you can choose your response.

I don't think it is a sellers market to be honest, but that's a separate debate. Up to you to do your own research on what you believe to be true. Emperors new clothes, as I keep saying.

Good luck - you would think offering what the vendor wanted would be enough. But no they want more more and some more. 

I'm really unsure where the place you bought for 50% under the asking price is, but most of the South East is a seller's market. I'm not making this up just based on conjecture and personal opinion.

Facts are, housing supply is very low. Lots of buyers. Very few sellers.

See the quotes from PropertyMark

https://www.theguardian.com/money/2022/jan/03/uk-housing-market-expected-to-stabilise-in-2022-after-bumper-year

Sorry, if I said 50% it was a typo, it was 10% under.

I broke the chain. The vendors were moving into a house where their vendors went into rented too. I believe our vendors passed on the reduction. So both went for under asking.

we are in an area where all the south are moving to to work from home (and no doubt lots will now have to move back).

Glad to see from your article that things should stabilise.

I moved from the south east a few years ago so most of my fam and friends are there, and none are flying off the shelves as rumour would have us believe.

comeandgo

brasso said:

As usual, some people are being rather condescending and unsympathetic to a FTB. Perhaps the same type who hoot their horn at learner drivers. 

To the OP -- yes, this is quite normal though it's frustrating. If the house has had quite a lot of interest then it makes sense for the vendor to hear what other offers come in, even though this is frustrating for a buyer who has offered asking price. If I walk into an antique shop and see something labelled as £10, I expect to be able to buy it for £10 rather than be told to come back later in the week just in case someone wants to offer £11. But the property market does, unfortunately, work like that, mainly because there are a lot of pitfalls in buying and selling, getting a mortgage, being stuck in a chain and so on -- so vendors like to see all the offers on the table before deciding. It may not be a higher offer they go for but a more 'proceedable' one. At least you only need to wait a short time. It's worth still checking Rightmove just in case. Unfortunately it's very easy to get emotionally attached to a house. I've done it many times myself, and still do it, despite being an oldie! Good luck .

Dear god, you said others were condescending?

newsgroupmonkey_

lookstraightahead said:

I moved from the south east a few years ago so most of my fam and friends are there, and none are flying off the shelves as rumour would have us believe.

As per above, I'm selling in one area of the South East (Bucks) and buying in Hampshire. I can assure you that anything even semi-reasonable is selling in days in both areas for well over the asking. I've got searches on across West Sussex through to Dorset and Bucks / Beds / Herts / Oxon to get comparables for where I am (I'm close to all these borders)

I've said before, most stuff left on the shelf is either odd, overpriced or has something wrong about it.

My OH works in the industry using actual prices and valuations (not nonsense made up stuff by EAs and RM). Prices are still rising and many people are paying over the valuation price. Most of the areas she covers are in the South of the UK.

Noneforit999

newsgroupmonkey_ said:

lookstraightahead said:

I moved from the south east a few years ago so most of my fam and friends are there, and none are flying off the shelves as rumour would have us believe.

As per above, I'm selling in one area of the South East (Bucks) and buying in Hampshire. I can assure you that anything even semi-reasonable is selling in days in both areas for well over the asking. I've got searches on across West Sussex through to Dorset and Bucks / Beds / Herts / Oxon to get comparables for where I am (I'm close to all these borders)

I've said before, most stuff left on the shelf is either odd, overpriced or has something wrong about it.

My OH works in the industry using actual prices and valuations (not nonsense made up stuff by EAs and RM). Prices are still rising and many people are paying over the valuation price. Most of the areas she covers are in the South of the UK.

We are currently selling in the South East (Kent). We had 17 viewings booked within 48 hours and 6 offers from those viewings.

We were also looking (although we are not now) and most of the places we liked have several other people interested, we got outbid twice on two different houses and we offered over the guide/asking price too. 

The only ones which seem to hang around where we are seem to have several compromises rather than just the odd one. There is a nice 4 bed detached which looks 'cheap' compared to other properties in the area but its set right on a main road, the same main road that leads in and out of the village. That combined with it being very dated and needing the best part of £20k-£30k putting into it is likely putting people off.