Sellers bidding against each other, room for a better deal?

davemorton

I recently sold a house where the nextdoor neighbours was also up for sale (well to be precise, it had sold, but the sign was still up in the garden.)  Nothing wrong with either house of the area, it just happens sometimes. 

Gavin83

davemorton said:

I recently sold a house where the nextdoor neighbours was also up for sale (well to be precise, it had sold, but the sign was still up in the garden.)  Nothing wrong with either house of the area, it just happens sometimes. 

Happened in our street too. Two neighbours listed their houses within a few weeks of each other. There's certainly nothing wrong with the street and there's no undesirable developments going on in the area so unless there's a problem localised to their houses it was pure coincidence.

Saying this three houses selling within close proximity would be a red flag for me. It wouldn't necessarily stop me from buying but I would certainly be extra vigilant in my research of the area. I'd certainly want to rule out some new development in the area, a nearby house turning into something like a HMO or a problem neighbour. 

strawb_shortcake

Maybe these 2/3 neighbours will think you are desperate to buy in the street and will play their own game to try and up your bids. 

mi-key

Maybe the two neighbours have fallen in love and are moving away to start a wonderful new life together ( in a bigger house ). Having 3 houses for sale on an estate isn't that unusual 

mi-key

theoretica said:

For many people looking to buy a house there will be more than one property they could be interested in - this situation is not really unusual- just the properties are a bit closer together than often.

Being interested in a couple of houses in an area is quite normal, but you don't play the sellers off against each other by making an offer then going back and forth between them and reducing your offer each time

fackers_2

annabanana82 said:

Maybe these 2/3 neighbours will think you are desperate to buy in the street and will play their own game to try and up your bids. 

They can but it’s all against them, falling market, both reduced price twice already. Definitely not desperate and happy to walk away if the price isn’t right. As the buyer, in a buyers market, I think we’ll be ok.

YoungBlueEyes

Well get cracked on then, and let us know how you get on. 

strawb_shortcake

fackers_2 said:

annabanana82 said:

Maybe these 2/3 neighbours will think you are desperate to buy in the street and will play their own game to try and up your bids. 

They can but it’s all against them, falling market, both reduced price twice already. Definitely not desperate and happy to walk away if the price isn’t right. As the buyer, in a buyers market, I think we’ll be ok.

We are actually starting to think about moving, house prices seem a bit stagnant at the moment, but if our house isn't worth what it was 6 months ago then the houses we look at are going to be in the same boat. 
We have the benefit of both having plenty of equity and  more than enough savings to facilitate the move. We aren't desperate to move and lots of others aren't either. We also don't have to move, so no skin off our nose if buyers want to fanny around.

I won't be interested in playing games either buying or selling. Just getting a reasonable offer whatever that is. You either want a house or you don't, you can either afford or you can't. Offer what you think it's worth and move in (eventually if accepted) or on. 

Sarah1Mitty2

mi-key said:

They could well be both ex rentals owned by the same person ( the last house I rented the landlord owned next door as well ). Or they could be owned seperately, but then possible the sellers are good friends and will tell each other what you are doing, so you will probably miss out on both...

I think in either scenario all you are going to end up doing is annoying the seller or sellers

Why would someone obviously desperate to sell chase potential buyers away, that makes no sense.

Sarah1Mitty2

fackers_2 said:

Found 2 properties that are neighbours, both selling and listed the same time, they've both reduced asking price the same time... Has anyone effectively 'played one another off' (I hate using that term) to encourage a seller bid war?  How did it go? 

There's also another house on the estate very close by also for sale the same time. As far as I can see there is nothing planned for the direct area. Maybe it's just coincidence they are both selling the same time. My other theory is that they are both rented and the owner is selling both same time.

How would you play it?

Are you using PropertyLog to find out if there are even cheaper similar houses in the area, that might save you the bother of bargaining with potentially difficult sellers.