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Told wont accept anything less then £200k on a 200k house!

Hello

Thought I have to post as there are lots of people out there who are not even considering reasonable offers let alone low ones.
Twice now I have had offers rejected on different houses, both overpriced with no offers and been on the market for over 6 months.
One has just two weeks ago took a price drop from 220k to 209k, the other house is still at 215k.
We are talking about offers around 193k but they wont even consider it despite work needed on there houses.
Felt I had to post as it feels like I'm banging my head against a brick wall and from talking to the estate agents too they are feeling frustrated too as both times they have stayed way past closing thinking we could agree a price only for the vendors to not budge.
I appreciate people dont have to accept lower offers but realistically if they want to sell they shouldn't be dismissing them so quickly.
A house two doors away from the house at 209k sold in september with the same agents for 195k and they agreed with me the market hasn't gone up since then but down so why the vendors are not considering offers around that level is crazy to me. But to go higher. :mad:
What annoys even more is we took a 8% drop on our house and secured a sale within weeks.
At present I feel we are going to have to pay close to someones asking price to secure a property when we took the drop on ours.
Renting isn't a option either as OH really doesn't want too and realistically OH's wages are the best they have ever been so buying makes more sense.
Opinions are welcome.
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Comments

  • brit1234
    brit1234 Posts: 5,385 Forumite
    Walk away giving them your telephoner number. I'm sure the reality of todays price drops will spook them and call you.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • mpsavuk
    mpsavuk Posts: 296 Forumite
    Denial is not just a river in Egypt!

    They'll be kicking themselves in a few months time wishing they'd accepted your offer.
  • themaccas
    themaccas Posts: 1,453 Forumite
    I really understand where you're coming from! We went through exactly the same about 3 months ago and I posted on here with the same complaint! I think that there are some people that just aren't that bothered if they don't sell their house and don't mind waiting to get the price they think it's worth. It's frustrating but keep looking.....We got the house we are in by upping our offer but made it clear that it was our last and final one. We knew that once we got our offer accepted we wouldn't be gazzumped as there was no one else that could proceed with the purchase:rotfl: Is the house worth £209 to you? If it is and you can afford it then put in an offer close to that.
    Good luck. BTW I wouldn't rent either I've been in enough HM Forces married quarters to put me off that option for life:rolleyes:
    Debtfree JUNE 2008 - Thank you MSE:T
  • pinkshoes
    pinkshoes Posts: 20,607 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I appreciate people dont have to accept lower offers but realistically if they want to sell they shouldn't be dismissing them so quickly..

    It really depends if they actually want to sell or not!! I know quite a few selling because they want to buy something bigger, but if they don't get the price they want (i.e. equity providing a suitable deposit), then they'll quite happily stay put.

    Like you, they probably have a minimum amount to accept in order to move on...

    Perhaps the house rents at something similar to the mortgage, so they'd rather let it out and keep it rather than sell lower than a certain amount?

    If we put ours on the market, we certainly wouldn't sell it for a penny less than we paid for it, as we'd rather keep it as the rent would near enough cover the mortgage.

    You need to go onto the debt forum and track down people who are having repossession threats who NEED to sell.
    Should've = Should HAVE (not 'of')
    Would've = Would HAVE (not 'of')

    No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)
  • chickmug
    chickmug Posts: 3,279 Forumite
    I appreciate people dont have to accept lower offers but realistically if they want to sell they shouldn't be dismissing them so quickly.

    Sorry but from my perspective you have freedom of decision in what you will offer but bear in mind the sellers also enjoy that same freedom in what they would accept.
    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.
  • Kez100
    Kez100 Posts: 2,236 Forumite
    For fear of repeating myself - you cannot make anyone sell for a set sum and you cannot dictate what they should think. The worst thing you can do is fall in love with a house. Even in the dire market of 1994 many people would not negotiate much. You have to forget them and move on. Look for people who will be more likely to negotiate - inheritances, second homes, divorces, reposessions.

    Stop falling in love with houses, get out there and source bargains to make into your dream home. Yes, it's more work and you need identify those who will bargain. Better still,wait a few months or probably a lot more but keep looking to guage the market - and do it then!
  • happywarmgun
    happywarmgun Posts: 275 Forumite
    Part of the Furniture Combo Breaker

    Opinions are welcome.

    Ethical threshold may be crossed - but this will work....

    Have a freind/family member go and look at the house in a week or two. Have them put in an offer 4 or 5 grand below what you have offered. (They'll refuse).

    Leave it another week. Have a different freind or family member go round. Have them (on your behalf but the seller doesn't know that) put in a offer 10-15 grand below yours. They'll then realise they're in a collapsing market.

    Leave it another week. Add a thousand onto your original offer let them know it is your final offer. You got a house.
  • poppysarah
    poppysarah Posts: 11,522 Forumite
    I think the idea of giving thme your phone number and walking away from it at this stage is best.

    People are still in the denial stage.
  • Incisor
    Incisor Posts: 2,271 Forumite
    1,000 Posts Combo Breaker
    Thought I have to post as there are lots of people out there who are not even considering reasonable offers let alone low ones.
    Twice now I have had offers rejected on different houses, both overpriced with no offers and been on the market for over 6 months.
    One has just two weeks ago took a price drop from 220k to 209k, the other house is still at 215k.
    We are talking about offers around 193k but they wont even consider it despite work needed on there houses.
    Oh, dear you haven't got your head around ownership have you? They own it, so if they want to put the asking price up by 10% every month there is a month on month fall in the index, that is their right. You have no reason to get frustrated, although you might permit yourself a snigger.
    After the uprising of the 17th June The Secretary of the Writers Union
    Had leaflets distributed in the Stalinallee Stating that the people
    Had forfeited the confidence of the government And could win it back only
    By redoubled efforts. Would it not be easier In that case for the government
    To dissolve the people
    And elect another?
  • vikingaero
    vikingaero Posts: 10,920 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I know of 6 friends and family who currently have their homes on the market. None of them are desperate to sell because of redundancy, credit or any other drastic reason. Only 2 of the properties are mortgaged, 4 are mortgage free, 2 of them want to downsize but what they all have in common is that they want what they feel the house is worth and won't entertain silly offers given that they are not in a rush to sell.
    The man without a signature.
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