Is this gazundering?

anna201

Thanks everyone!

There has been no move from both sides and the EA still sticks to the argument that the initially approved offer (270k) was already discounted a great deal from the asking price so they won't go any further down. But that offer was accepted straight away without any haggling!

I've already started looking at a couple of other properties and am going to see some this weekend.

posh*spice

anna201 wrote: »

I've already started looking at a couple of other properties and am going to see some this weekend.

Good luck. Hope you find something lovely.:D

Bf109

daveyliver wrote: »

The whole "I can get the roof done for £5000" is a sticky point, Im sure I can get my boiler replaced by a so called handyman for £100, but Im also sure my house will blow up:D

I'll replace you boiler* for £100 and can guarantee it wont blow up!

*I will of course replace it with a pile of old newspapers in a tescos bag, but thats in the fine print.

HankMcSpank

Bf109 wrote: »

I'll replace you boiler* for £100 and can guarantee it wont blow up!

*I will of course replace it with a pile of old newspapers in a tescos bag, but thats in the fine print.

A nice no lose situation for you.

If it doesn't blow up you've made £100

If it does blow up....you've still made £100 as the claimant won't be around to claim!

MrMonkey

The reduced offer was very reasonable given the outcome of the survey and the quotes for the work done. I'd call their bluff on this, as in the current market the buyer is more in a position to dictate terms than the seller.

The fact that you are not in a chain and have a mortgage agreed would make it insane for a seller to quibble with you over £3k. There is a good chance that that £3k will be eroded from their asking price very soon in the current market.

anna201

A bit more detail which I’ve found a bit puzzling at this stage. When I came to make the initial offer, there were three agents listing this property on the market. Unintentionally I stumbled upon a local one and the rest was as in the first post. Now this agent is putting it back on the market as the sole agent for the property.

Wouldn’t the agent be more inclined to advise the vendor to sell to me for the extra fee (presumably 2-3%) they will earn from multi-listing instead of just 1-1.5% being a sole agent? I’m doubting that the vendor wants to pull out this time round to sell again via a sole agent, so that even though the final offer could be somewhere around my existing offer, he would only have to pay the sole agent fee.

m00m00

in the current market, any new offer on a property in this range is likely to be around 250k anyway.

fimonkey

Anna, I was in a VERY similar situation as yours back in June 2007.

I offered on a freehold flat in Bournemouth, buyer pushed me up by an extra 2.5K (there were other offers). I paid for valuation survey and an issue with the roof was highlighted. No problem with the mortgage as I had a good deposit, but I did get a roofer in to take a second look.

News was dire, and it was looking as though it would cost me 5-6K to be sorted. I renegotiated with vendor and she quibbled BIG tine over £500 but I stuck to my guns and she gave in.... so then we move along to exchange, but two days before exchange she took the keys back from the EA (it was vacant possession) and no one could contact her (there was a surveyor due at the flat the same day).... surprise surprise on exchange day she pulled out of the sale. I was gutted! I'd already given notice on my place, paid £250 valuation fee, etc etc.... I had to move into my boyfriends with my stuff still in boxes....

So onto Nov 2007. (The vendor had taken the flat off the market and paid for all repairs herself). The flat went back on the market at an extra 40K!!...and it's still on the market, multi agency, no viewings.

Meanwhile my deposit is sat in a bank earning 7%, I'm happy at my boyfriends, no problems with his landlord and rent and bills are halved so we can save more, and house prices are coming down!!! YIPPEEE!!!

So my tale of woe turned into a tale of smugness...... not sure if you can learn anything from that, or if I've just gone cabin crazy from being sat in my office all day!

stephk_2

Hi Anna201 - I did the same thing at the beginning of last year, although I offered asking price (£250k). The flat is ex-council and the council notified us that we could be liable for £7k of works this year so I immediately called the agent and said I would now pay £243k as I didnt see why I should be liable to pay for all of these works. They initially said no and we had already gone a bit further down the line than you had so we would have lost more by pulling out and I wouldnt have pulled out as I loved the place so much but I told the agent that unless the vendor was willing to be flexible we were definitely pulling out. After much haggling, we got £5k off the price. Best thing was that my boyfriend called the council when we had received the letter and they said the £7k was just an estimate and something they were obliged to tell us, not that it was actually going to happen this year (thankfully but at least we are prepared if it does).

I think the other posters are right - you have a lot less competition around buying now so they are fools for quibbling over the sake of £3k - and you may find that they call you in a months time to see if your offer still stands at which point you can lower it again. If not, then soon enough you are going to find a fantastic bargain - good luck.

daveyliver

Bf109 wrote: »

I'll replace you boiler* for £100 and can guarantee it wont blow up!

*I will of course replace it with a pile of old newspapers in a tescos bag, but thats in the fine print.

LOL :rotfl: No thanks john wayne I would rather freeze.