Increase offer? Grateful for advice

uphillstruggle_2

But they might never! On Tues they said they wouldnt accept my offer and I said ok then Ill just leave it and keep looking......they might think im not bothered anymore.......

I dont like this game!

Doozergirl

Doozergirl wrote: »

I'd ask them to consider the absolute minimum they would accept. Say that you will have to beg borrow and steal any extra from family and the full £5000 just isn't happening right now, they will have to compromise further.

I'll refer you back to my previous suggestion. At the moment, as far as they are concerned, dialogue is closed. You need to keep it open without increasing your offer.

"Hello Mr EA, please can you tell me if there is anyway they can reconsider the lowest price they can accept?"

uphillstruggle_2

I like that idea I will try that....I might hold out till Monday though.....or maybe tomorrow!

Doozergirl

Don't blame you

merlinthehappypig

We made an offer on a house about 10 days ago. They wanted 'offers over £450000' and we offered somewhat less than that, but still within a reasonable percentage of the price in the current market.

They basically told us, and the agent, to get stuffed (in so many words - she did put the phone down on the agent)

We just carried on looking and forgot about them.

Guess who has come back today cap in hand because their circumstances have changed? My wife and the agent just had a good laugh about it.

If we do now decide to proceed I won't be offering as much as we did before...............

The moral is 'good things (sometimes) come to those who wait'

That said I'm not sure that we want it now..........

LadyinBlack_2

The idea of viewing another house is a good one but don't view via the same agent. Go to a different agent (or just pretend to) arrange a viewing and make sure their agent knows. He'll start to talk the sellers round.
If you arrange to view another house via him he won't be so bothered as he'll still get his fee. Good luck.

loulou41

merlinthehappypig wrote: »

We made an offer on a house about 10 days ago. They wanted 'offers over £450000' and we offered somewhat less than that, but still within a reasonable percentage of the price in the current market.

They basically told us, and the agent, to get stuffed (in so many words - she did put the phone down on the agent)

We just carried on looking and forgot about them.

Guess who has come back today cap in hand because their circumstances have changed? My wife and the agent just had a good laugh about it.

If we do now decide to proceed I won't be offering as much as we did before...............

The moral is 'good things (sometimes) come to those who wait'

That said I'm not sure that we want it now..........

Interested to know how much did you offer? Is an offer of 5% off the asking price cheeky? Thanks

Doozergirl

loulou41 wrote: »

Is an offer of 5% off the asking price cheeky? Thanks

No! That's where you're talking business!

That's my asking price.

merlinthehappypig

loulou41 wrote: »

Interested to know how much did you offer? Is an offer of 5% off the asking price cheeky? Thanks

£400000 originally, then £425000 which I think is too much for that house, personally, but I'm not the only decision maker:D . I was glad that they refused the offer though - got me out of a situation without it being my fault.......

You simply can't have a hard and fast rule about what to offer, unfortunately. It depends on so many variables, the seller's position, your position, how competitively priced the house is, how long it has been for sale, what else is available and so on.

Even the price the sellers' paid can come into play. Another house we like is on at £495000. After a lot of negotiating the seller has said that they would accept £475000, but it's still up in the air because they don't think that 12 weeks is long enough before completion:mad:

Whilst £20000 doesn't seem much of a discount off the asking price, I know that they paid £482000 just under a year ago. Add in stamp duty, legal costs, the difference between mortgage interest and renting and they will be down the best part of £30000 inside a year.

I'd always start lower than I'm prepared to go, even if it looks cheeky. You have to start somewhere.

Poppy9

Before I bought my current house we were cash buyers as we had sold up and were in rented. There was a house we liked on at £84k. It wasn't worth £84k as it needed modernisation but the owner thought it was worth that as his neighbours, who had modernised and added a loft conversion and conservatory has sold for that. He wouldn't accept our offer of £80k which even the agent thought was good so we walked away, you just know when the seller is not going to budge unless they get totally desperate. It took him over 2 years to sell!! We were not prepared to pay over the odds for the 3 bed semi so we walked away and bought a bigger 4 bed semi with larger gardens and longer driveway opposite for less than £80k. The EA who had taken our offer knew we were serious buyers and on the day he valued our house for the vendors he rang us to view and we agreed a price within 30 minutes.

You have the upper hand and in my experience if a seller is peed off because they've been "forced" to sell for less than they want they will strip the place bare of things like bathroom and light fittings or try to sell you grotty second hand carpets for £1000:rotfl: . Tell them you don't want them but they rarely take the carpets as it's too much work and they are hard to dispose of. On our first house the seller wanted to take his TV aerial off the roof!