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

GrumpyDil

Is it just me that would be a tad irritated if my EA told potential buyers I could no longer afford my house? 

fackers_2

jimbog said:

fackers_2 said:

Spoken to the EAs for each property - It’s a total coincidence, that 3 properties are up for sale within 20 meters apart. 2 moving to be closer to family and one can’t afford to keep the house. There aren’t any new building applications for the area, no flood risks, nothing that’s off putting. They did all reference the other houses and each EA representing said they’re each happy to consider offers below asking price. 

Any updates on the bidding? 

Thanks. Nothing to share. Won’t update until any significant progress milestone. 

RelievedSheff

GrumpyDil said:

Is it just me that would be a tad irritated if my EA told potential buyers I could no longer afford my house? 

I seriously doubt they have said that to be perfectly honest.

RelievedSheff

fackers_2 said:

jimbog said:

fackers_2 said:

Spoken to the EAs for each property - It’s a total coincidence, that 3 properties are up for sale within 20 meters apart. 2 moving to be closer to family and one can’t afford to keep the house. There aren’t any new building applications for the area, no flood risks, nothing that’s off putting. They did all reference the other houses and each EA representing said they’re each happy to consider offers below asking price. 

Any updates on the bidding? 

Thanks. Nothing to share. Won’t update until any significant progress milestone. 

That will be never then?

Gycraig

I don’t understand how this would work ? My house and my neighbours is identical except mine is a slightly better lay out. 

I’m putting mine up at 170 his is 160 if someone told me “bob down the road told me he would take 150” I’d say that’s nice of him go buy it. 

What idiot is getting into a reverse bidding war unless you are literally the only person who would potentially like your house ? 

fackers_2

RelievedSheff said:

fackers_2 said:

jimbog said:

fackers_2 said:

Spoken to the EAs for each property - It’s a total coincidence, that 3 properties are up for sale within 20 meters apart. 2 moving to be closer to family and one can’t afford to keep the house. There aren’t any new building applications for the area, no flood risks, nothing that’s off putting. They did all reference the other houses and each EA representing said they’re each happy to consider offers below asking price. 

Any updates on the bidding? 

Thanks. Nothing to share. Won’t update until any significant progress milestone. 

That will be never then?

Jesus! You really are a keyboard warrior troll!  I'm not going to share any specific details until things are secured, whether an offer is accepted, viewings taking place or we're looking at other locations.

Maybe, just maybe, wake up one day without going onto a forum to try assume someone else's circumstanced without knowing 99% of the facts.

jimbog

fackers_2 said:

jimbog said:

fackers_2 said:

Spoken to the EAs for each property - It’s a total coincidence, that 3 properties are up for sale within 20 meters apart. 2 moving to be closer to family and one can’t afford to keep the house. There aren’t any new building applications for the area, no flood risks, nothing that’s off putting. They did all reference the other houses and each EA representing said they’re each happy to consider offers below asking price. 

Any updates on the bidding? 

Thanks. Nothing to share. Won’t update until any significant progress milestone. 

What are listing prices for each?

mi-key

jimbog said:

fackers_2 said:

jimbog said:

fackers_2 said:

Spoken to the EAs for each property - It’s a total coincidence, that 3 properties are up for sale within 20 meters apart. 2 moving to be closer to family and one can’t afford to keep the house. There aren’t any new building applications for the area, no flood risks, nothing that’s off putting. They did all reference the other houses and each EA representing said they’re each happy to consider offers below asking price. 

Any updates on the bidding? 

Thanks. Nothing to share. Won’t update until any significant progress milestone. 

What are listing prices for each?

Doesnt matter as he will expect to get them for half the listed price because house prices are plummeting and sellers are desperate to sell ! 

Sarah1Mitty2

MobileSaver said:

Sarah1Mitty2 said:

MobileSaver said:

fackers_2 said:

2 moving to be closer to family ... they’re each happy to consider offers below asking price. 

Depending on the specifics reasons why, this could turn out to be your silver lining.

I eventually bought my current house at 40% below the initial asking price. I knew they were selling to move closer to family but a year later the sellers invited me to dinner at their new home and it was only then I discovered they had been desperate to sell and move because a family member was unwell.

It was the perfect deal, a win:win situation. Yes, I picked up a bargain and they received a lot less for their home than they would have liked but at the time money wasn't their priority, they just wanted to move closer to and focus on the family member and my completing the purchase quickly allowed them to do that.

Good move for both of you, in this case the seller who can`t afford their house any more is going to be more open to low offers.

Agreed. As I've said in another thread, most sellers aren't desperate in that way but if you're lucky enough to be interested in a property where the seller is desperate then you may well pick up a bargain regardless of what the housing market is doing.

Good point, but before borrowing costs went up there was more potential for competing bids.

RelievedSheff

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

MobileSaver said:

fackers_2 said:

2 moving to be closer to family ... they’re each happy to consider offers below asking price. 

Depending on the specifics reasons why, this could turn out to be your silver lining.

I eventually bought my current house at 40% below the initial asking price. I knew they were selling to move closer to family but a year later the sellers invited me to dinner at their new home and it was only then I discovered they had been desperate to sell and move because a family member was unwell.

It was the perfect deal, a win:win situation. Yes, I picked up a bargain and they received a lot less for their home than they would have liked but at the time money wasn't their priority, they just wanted to move closer to and focus on the family member and my completing the purchase quickly allowed them to do that.

Good move for both of you, in this case the seller who can`t afford their house any more is going to be more open to low offers.

Agreed. As I've said in another thread, most sellers aren't desperate in that way but if you're lucky enough to be interested in a property where the seller is desperate then you may well pick up a bargain regardless of what the housing market is doing.

Good point, but before borrowing costs went up there was more potential for competing bids.

Borrowing costs are still cheap when compared against long term averages.