Fed up with having offers rejected

otter1_2

themaccas,

£10k is a big leap for property 2. They might think you have money to burn and hold out for longer. Might be better to increase by a small amount so that they can get the impression that you have really searched for the extra cash to increase your offer. How long ago was the offer rejected? I had very little patience when I was bidding but every time I wanted to bid more I rang friends and family who I'd put under instructions beforehand to tell me not to budge!

Jorgan_2

themaccas wrote: »

The crazy thing is Property 2 and 3 are both empty, Property 2 have moved on and are living elsewhere (job relocation) and property 3's owners are Americans and haved moved back to the USA.

Both properties may have some sort of relocation package in place which means they may not have to accept the offers just yet. If someone else is footing the bill for a period of time, they can afford to hold out.

A lot of people get hung up on the asking price when they should be concentrating on the overall cost of change. If they can get the property they want to buy for the same reduction in price that they have been offered, the cost of change is the same.

bribri_2

Have you reviewed sold prices for the streets and types of houses you are looking at? And bear in mind a sold price for January might have meant an agreed price in July or October.
Although some houses are being reduced if they have been on the market for a while, perhaps the ones you are looking at are already starting from a more realistic reduced valuation.

themaccas

Excellent comments again!

We did look at rightmove for house prices and noticed that Property 3 had been bought for 240,000 in 2002, Property 2 is very unique and there is no comparison, it is a 'barn style' home, very big room proportions and the EA told us it was a bargain and that even at £399K it was less than they had paid for it. (Not sure if that is right) However it is in a lovely village with great schools nearby. We heard back from the EA this evening and the couple are going to 'think our offer over' tonight and we should get a response tomorrow morning.

baileysbattlebus

Jorgan wrote: »

Both properties may have some sort of relocation package in place which means they may not have to accept the offers just yet. If someone else is footing the bill for a period of time, they can afford to hold out.

A lot of people get hung up on the asking price when they should be concentrating on the overall cost of change. If they can get the property they want to buy for the same reduction in price that they have been offered, the cost of change is the same.

When we were relocated we didn't need to sell our house to move, the company would have paid for everything until we had sold. As it happened we did sell before the move, but we weren't desperate to get rid of the house.
My sister bought an empty house,it had belonged to an elderly couple and in the course of time both had died. So the property was an inheritance for the sellar and again they were no desperate rush to sell it.
You can't assume because a house it empty that someone is paying a massive bridging loan on it and is desperate to get rid of it.

dopester

Wait a bit longer miladdo.

Soon we can feast on bargains.

themaccas

baileysbattlebus wrote: »

When we were relocated we didn't need to sell our house to move, the company would have paid for everything until we had sold. As it happened we did sell before the move, but we weren't desperate to get rid of the house.

I think this is the situation with them, it explains a lot, thanks.

themaccas

dopester wrote: »

Soon we can feast on bargains.

It's only a bargain if you need/want it:rotfl:

zappahey

dopester wrote: »

Wait a bit longer miladdo.

Soon we can feast on bargains.

Cheaper doesn't necessarily equal bargain.

John_Pierpoint

baileysbattlebus wrote: »

My sister bought an empty house,it had belonged to an elderly couple and in the course of time both had died. So the property was an inheritance for the seller and again they were no desperate rush to sell it.

The man with the clip board from the Council Tax Dept. plus the costs of keeping it weather proof (frost!!!) while worrying about squatters, TENDS to concentrate minds. Always see if you can check out the probate situation and if so get a copy of the will along with the Land Registry docs.
A delay might be caused by a legal squabble.
I managed to get 10K off a 80K house by doing my homework - its turned out to be a bargain;)