Perils of rejecting a good offer

Gorgeous_George

Hi

I made an offer on a property last week. Marketed at £350K I offered £345K and they quickly refused. Then, they called me to ask if I'd go the asking price. I said I'd reconsider over the weekend.

Well, I have reconsidered and I'll be withdrawing my offers tomorrow. How good will they feel?

Am I a bad person because I feel good about my decision?

GG

chuckles1066

Gorgeous_George wrote: »

Hi

I made an offer on a property last week. Marketed at £350K I offered £345K and they quickly refused. Then, they called me to ask if I'd go the asking price. I said I'd reconsider over the weekend.

Well, I have reconsidered and I'll be withdrawing my offers tomorrow. How good will they feel?

Am I a bad person because I feel good about my decision?

GG

Nope.

You made an offer; they made a decision to reject your offer as it clearly wasn't good enough.

Their loss.........for £5k on a £350k purchase, they've cut off their noses to spite their face by the sounds of it.

:T :T

PasturesNew

No. They gave you time to fall out of love with it and come up with a list of reasons why you didn't want it after all.

They took the magic away and somebody has to pay for that.



They must be off their rockers if they didn't think just £5k under was a fantastic offer.

However, you might like to go back to them in a month at £325k; just out of spite.

Gorgeous_George

They gave me time to decide that I do not want to give them my money.

Just have to decide whether to sell and rent for a while.

GG

pinkshoes

How long had it been on the market for? Had it been reduced in price?

I'd say £345k on a £350k asking price is pretty good in today's market, so they should have accepted. Or maybe it's just come on the market and they have lots of viewings lined up??!?!

If you like the house, go back after your "thinking time" and offer £340k.

If you choose to rent, find a nice landlord who has no plans to sell!

Gorgeous_George

It was on the market for over a year. Initially at £375K I believe.

I'm looking at other options but might rent for a while.

GG

m00m00

check the land registry site in a years time

I wouldn't be surprised to see it sell for 300k in the end.

Running_Horse

You should call yourself Generous George.

£345,000 for a £350,000 house that's been on the market for a year?

merlinthehappypig

Running_Horse wrote: »

You should call yourself Generous George.

£345,000 for a £350,000 house that's been on the market for a year?

My thoughts exactly. There are plenty of people on here who can't get an offer anywhere near that sort of percentage of the asking price.

Brace yourself for some pm's I reckon..............

Joking aside Pasturesnew has hit the nail on the head here. This has happened several times to us in the last few months. The offer has been rejected - we have thought about things in the meantime and mentally moved on - the sellers have come back and we don't want it anymore.

Once the impetus has gone, it's hard to get it back.

They won't half be kicking themselves in a few months.

Does this make a you a bad person? No it doesn't, it makes you very sensible. Perhaps there ought to be a compulsory cooling off period like with loans and insurance products? On the other hand, there is - it's called the bit betwen offer and exchange and probably the reason why so many sales fall through.

lynzpower

Gorgeous_George wrote: »

Hi

I made an offer on a property last week. Marketed at £350K I offered £345K and they quickly refused. Then, they called me to ask if I'd go the asking price. I said I'd reconsider over the weekend.

Well, I have reconsidered and I'll be withdrawing my offers tomorrow. How good will they feel?

Am I a bad person because I feel good about my decision?

GG

Yes

I mean what would martin do? :beer: :A

Generali

I'd be tempted to go back with a considerably lower offer in a month or 2 if its still on the market.