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offer 15% less ???????

2

Comments

  • Jorgan_2
    Jorgan_2 Posts: 2,270 Forumite
    gemima wrote: »
    I would just like to point out that we put in an offer of 9% less on a property last week and were told by the agent that it would offend the vendors therefore they wouldn't put the offer forward - annoyingly enough this particular EA is also selling our property (its SSTC) so we were a bit gobsmacked. Yes the offer was a bit cheeky but then we didn't think the house was worth much more. We aimed low with a view of negotiating up but apparently the vendor is waiting for full asking price................:rotfl:

    Unless the seller has instructed the agent not to inform them of offers below a certain figure, all offers, by law, have to be put forward to the seller. It isn't upto the EA to decide what offer gets put forward.
  • chickmug
    chickmug Posts: 3,279 Forumite
    gemima wrote: »
    I would just like to point out that we put in an offer of 9% less on a property last week and were told by the agent that it would offend the vendors therefore they wouldn't put the offer forward - annoyingly enough this particular EA is also selling our property (its SSTC) so we were a bit gobsmacked. Yes the offer was a bit cheeky but then we didn't think the house was worth much more. We aimed low with a view of negotiating up but apparently the vendor is waiting for full asking price................:rotfl:

    Your EA is obliged to put all offers to their clients. Unless they have a signed mandate, from their client, not put offers below a specified amount. Are they members of the NAEA and I will give the the rule number to quote to your EA!!!
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • phil_b_2
    phil_b_2 Posts: 995 Forumite
    It will get shunned quite quickly I image, but worth a punt I guess. Doesn't matter if you offend. I just offered 10% less on a house and it didn't go down very well...

    I do already have an offer which has been accepted at 5.5% less on another house though. Just trying to better it at the mo.

    The vast majority of sellers aren't really aware of the market situation, and its debatable whether or not they should actually be concerned or care to be honest.
  • jimc_2
    jimc_2 Posts: 290 Forumite
    gemima wrote: »
    .......were told by the agent that they wouldn't put the offer forward ......... apparently the vendor is waiting for full asking price
    I think that's the answer to your question. They have most likely told the agents to only forward 'asking price offers or better'. Not an uncommon practice in some desirable areas when prices were only going one way. It's not duplicity on the part of the agent (this time) if they have been explicitly told not to forward certain offers.
  • gemima
    gemima Posts: 86 Forumite
    I thought that was the case - they should put all offers forward. Actually the conversation went something like, they are in a hurry to sell and if you put forward a 10K reduction in asking price offer you could probably negotiate from there, so we put forward a 20K reduction (as you would!!).

    Its a refurb (but not a good one), its not finished properly and you can see they have rushed some of the things - never mind, if someone wants to pay the asking price they can!
  • wii_man1
    wii_man1 Posts: 154 Forumite
    have found out the poperty has been on the market since summer last year and was on at 850k , also it is owned by a very large billion pound company, to house their staff when visiting the uk.
    might be a chance with this one as the owners will have no emotional attachment to it.
  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    what did they pay for it when they bought it ?
  • wii_man1
    wii_man1 Posts: 154 Forumite
    clutton wrote: »
    what did they pay for it when they bought it ?

    not showing on the land registry as they bought it pre-2000

    cheapest house in the close was 500k 8 years ago and most expensive 1.4 million
  • wii_man1
    wii_man1 Posts: 154 Forumite
    my offer got turned down at 650k and the agent has told me that an offer of 700k was turned down today also although i don`t believe him.

    the house is owned by bp and been on the market since last summer.

    it requires new kitches new bathrooms new windows and skimming everywhere and also doors etc.

    i cannot believe they would turn down 700k
  • Jorgan_2
    Jorgan_2 Posts: 2,270 Forumite
    wii_man1 wrote: »
    might be a chance with this one as the owners will have no emotional attachment to it.


    So the decision to accept an offer may come down to an accountant hitting a few buttons on a calculator, as there is no emotional attachment.
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