Offered asking price, mostly cash, but not accepted!

merlinthehappypig

mrs_deadline wrote: »

Sirhan, I feel the vendors will go to any lengths to sell to someone other than you, because no doubt they've been kicking themselves about knocking back your much better offer 2 years ago!

Lo and behold, this agent has drummed up 5 or 6 offers for them (all be it 100k below their past expectations, but this is where the power of denial really comes in handy). So he's given them a short-lived moment of gratification. But the reality will kick in soon enough, there are no other proceedable buyers waiting in the wings...

At that point, your present offer might be the best they can hope for. But can you ever trust them not to keep trying to find higher bidders? I don't think so, because their pride is on the line. Selling to you would be like an admission of defeat. For me this can only work out if you can somehow clear the air and re-establish trust. They need to be told very kindly that what was offered then was then, the situation now is very different, it's nobody's fault, you're all at the mercy of the market, etc. etc.

But as things stand, with the game-playing they have done, it certainly isn't a straightforward proposition even if you raise the offer to what they're now asking for. Some form of treachery is still quite likely, I feel.

Late to reply to this, but I agree completely with the above.

We made an offer on a house in January which was turned down flat by the seller. We didn't re-offer as we felt we had offered the right price.

In late April we noticed that the seller had reduced the price to somewhere near our original offer. I rang the agent and she said that the vendor 'would now accept our offer'. The market had changed a lot in the meantime so we offered £20000 less than the original price the seller turned down. It was reluctantly & eventually accepted.

We had nothing but trouble for the next two months, with the seller constantly delaying things and going back on her word, clearly fed up with missing out on the original offer (confirmed by her agents). In the end we withdrew from the purchase.

My guess is that even if they accept your offer it will be with a great deal of reluctance and this will manifest itself to your disadvantage over the coming months. I suspect that it will cost you time, money and heartache and eventually go no-where.

This time we managed to negotiate in such a way that the seller had the last word, even though we were happy with the price. No problems so far, touch wood.

Jorgan_2

sirhan_sirhan wrote: »

Vendor is now living abroad, although at least one family member did come back a couple of weeks ago to put the property on the market. I don't know how long they are back for. House is (almost) empty, and is being sold without a chain. The agent has not been very forthcoming when questioned about the long term intentions of the vendor, or even which continent they are now living on. When I viewed the house in 2006, the family were intending to travel the world, and weren't sure when they would be back.

If the vendor is out of the UK they are probably out of touch with the housing market & prevailing conditions. There mindset will be from a different time, six - nine months ago, when things were very different. This may explain the vendor not accepting your offer.

Incisor

merlinthehappypig wrote: »

... This time we managed to negotiate in such a way that the seller had the last word, even though we were happy with the price. No problems so far, touch wood.

Damn. That's effectively what I have suggested doing in a couple of posts here lately, but now I see it described in those terms... You are right though, and your tale makes the point. Mrs Vendor would probably prefer to accept £30k less ultimately from anyone else than accept from you £20k below your rejected offer

sirhan_sirhan

Just a note to keep you all posted. 1pm has obviously come and gone, and the agent didn't even have the courtesy to call and say that the offer had not been accepted. Lease now signed, and I no longer have anything more than a passing interest in the house that we were once hoping to buy.

On Friday night I actually woke up in a cold sweat, having dreamed that the offer had been accepted. Maybe this was a sign that the house was not for us.

Thanks again for all of the advice and debate.

dmitch071

sirhan_sirhan wrote: »

Just a note to keep you all posted. 1pm has obviously come and gone, and the agent didn't even have the courtesy to call and say that the offer had not been accepted. Lease now signed, and I no longer have anything more than a passing interest in the house that we were once hoping to buy.

Cant belive this if I was the seller I would like to think I would have learnt from the offer you made two years ago and bit your hand off for another chance for a majority cash buyer in an ever falling market.

I hope you eventually get that house at a price you can pay full cash and treat yourself to a nice holiday with the left over money at the sellers expense for your troubles.

fc123

sirhan_sirhan wrote: »

Just a note to keep you all posted. 1pm has obviously come and gone, and the agent didn't even have the courtesy to call and say that the offer had not been accepted. Lease now signed, and I no longer have anything more than a passing interest in the house that we were once hoping to buy.

On Friday night I actually woke up in a cold sweat, having dreamed that the offer had been accepted. Maybe this was a sign that the house was not for us.

Thanks again for all of the advice and debate.

I know this is going to sound trite but every time in our life concerning something I really wanted ((job, house, situation) that didn't come off... a few years on, it seems we say 'Thank goodness we didn't get X.Y,Z'.

This house is not meant to be for now.

A possible scenario is that it will just sit empty for a further 12 months, maybe depreciate a little (or a lot!) more.

Having read through the thread, I get the impression it is 'special', rare to come onto market? If that were really the case, it would have sold before now.

You have handled it exactly as we would have. Compromised a bit, said how far you'll go, set a cut-off point....then moved on.

I think the fact they are abroad indicates they are out of touch with the market right now (other poster said it) but I think this could work in your favour in the future ( 12 months future).

They still want to sell...they have obviously sorted out a new life elsewhere.

Wait and see.:D Who knows what the next 12 months will bring.