Is this an estate agency common line?

itsgototstop

closing wrote: »

Im not bound by the covenant as Ive been in the area for about 5 years, but for anyone else coming into the area thats not local or not worked local for 3 years then yes, its 10% on top

Yikes, this would make it hard for you to sell on again especially if your circs changed and you were in a hurry.

Do you think this is why its been on market so long?

closing_2

properties in the area have been a bit stagnant which is why I assume that the price of the house was initially at 139, then 129 and then 125 (getting under stamp)

We do get outside buyers from the cities like london, bristol moving here because they can afford to (ironically even with covenant)

Bf109

Why not just give them a hundred billion dollars and your grandmother and your soul and job done?

Rather, reduce you offer to £123k and if they decline then find a better place next month. You arent the one who is missing boats now. The tables have turned.

I have viewed a 3-bed place on for £265 twice, one in Nov late and once in Dec early. Both times the EA said "there are loads of viewings booked up on this place..." strangely, it still hasnt sold. I dont want it anymore. I want something better for less money.

Another 3-bed has now come along in a better road for £215.

Job done.

SquatNow

Tell them to go swivvel.

Point out to them that prices are now dropping, it's been on the market for 9 months, and only a select few people are even ALLOWED to buy it.

Then tell them you'll offer the 80k, take it or leave it. And due to market conditions, the offer reduces by £1k a week.

When the say no, contact them again a week later, asking how many viewing they've had, offering £79. Point out to them that if it goes to auction, as the only person interested in it who is allowed to buy it, you'll be able to pick it up for 40k or less.

They are obviously distressed seller... with few people able to buy the place due to the covenant. They're attitude stinks so you're free to screw them over completely with a clear concience.

itsgototstop

SquatNow wrote: »

Tell them to go swivvel.

Point out to them that prices are now dropping, it's been on the market for 9 months, and only a select few people are even ALLOWED to buy it.

Then tell them you'll offer the 80k, take it or leave it. And due to market conditions, the offer reduces by £1k a week.

When the say no, contact them again a week later, asking how many viewing they've had, offering £79. Point out to them that if it goes to auction, as the only person interested in it who is allowed to buy it, you'll be able to pick it up for 40k or less.

They are obviously distressed seller... with few people able to buy the place due to the covenant. They're attitude stinks so you're free to screw them over completely with a clear concience.

Yes that attitude will work, you'll be beating vendors off with a stick:rotfl:

TTMCMschine

itsgototstop wrote: »

Yes that attitude will work, you'll be beating vendors off with a stick:rotfl:

Most vendors need beating with a stick.

mdj1

Mmmm, i'm worried. Another, but won't the price go up eventually?

You really need to work out the economics of comments like this as you could become really unstuck, especially when your mortgage deal comes to an end.

I would personally make a cheeky offer again, and say, take it or leave it. the offer is open for 72 hours.

The ball is in your court, not there's.

poppy10_2

Anything over £120k is throwing your money away, but if you want to get this over and done with try offering £123k as a final offer, time limited as others have pointed out to put the pressure on the vendors where it belongs. You are in a good position, they are desperate and have had no bidders in 9 months - show them who has the upper hand here.

Mum_of_3_3

I've been looking around houses recently helping a friend to find a house & there are loads in our area (South-West) which are languishing on the market for months and months, a year ago they would've sold the day they were put up for sale.

My advice is for both of you to look at the 'facts' of the house and then weigh up if you still want to pay £124k for it.
i) Did you love it on your first viewing or was it passable?
ii) Are there any other similar houses in the area up for sale, if so how much are they and how long have they been on the market for?
iii) Use a website like this http://www.houseprices.co.uk/ to look up and see how much properties in the area have sold for.
iv) Do you both want the house because of the house or has this price battle made you want it more?
v) What has changed since you both decided it was only worth £110k, have houses prices changed, has the amount of houses available to buy decreased? If you can't think of anything that has changed then ask yourself why are you now prepared to pay an extra £14k for nothing extra.

In this current climate and with the house being stuck on the market for 9 months already you really do hold all the cards and I would be very tempted to play hardball and say look here's the offer take it or don't, but in the meantime we are still going to look at other properties.

Also if you both decide you really want it and decide to offer what they want then don't forget to ask them to remove it from the market with immediate effect ie cancel all viewings, advertising etc.

Also they say it includes fixtures & fittings, I would ask for a comprehensive list of what those fixtures & fittings are. They may mean they are going to leave the lampshades, curtains and carpets whilst you may think it means all the furniture as well. When you get the list ask yourself if what they are going to leave would cost you £950 to buy for yourself.

Good luck with the house hunting!

M_o_3

closing_2

I do like the house for the right reasons, good area, good people and such.

The only thing that worries me is the crash in the sub prime market and the general economic outlook. I went to the house prices site and seen that a semi is 155 and other properties were about 135 so Im thinking that I may have shot myself in the foot offering a lower price, especially in light that they have had a viewing the other day ( this could be nerves kicking in I suppose??)

They are in a big rush to move due to some circumstances with their family hence why the sticking on the price. Just wondering if a bit of that is stubbornness on my part or if its part of "the game?" The other factor is hearing that they were going to drop the price to 110 for an immediate sale in the next few weeks. Circumstantial anyway

Other sides to the coin is that house prices in this rural area are horrendous so it does seem a bargain. People arent kidding when they say choosing to purchase a house is one of the hardest decisions ever. Thing is when Im viewing it I dont even think about that lol