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Final offer rejected l - FTB need advice

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  • bigstevex
    bigstevex Posts: 913 Forumite
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    Hate to say it but for 5K, if you want the house, pay it, if you're not sure and have seen others you like, don't pay it and hold out that you 'win' the game and they get back to you.


    We were tempted to play this game however in the last 3 weeks since our offer was accepted there's hasn't been another house we would have looked at come up for sale...
  • PokerPlayer111
    PokerPlayer111 Posts: 343 Forumite
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    I had to pay 5k more to get our deal done, just couldn't get the vendor to give in. Was still a good deal at 5k more so that was the rationale.


    It comes down to how much you love it, can you leave 170k on the table and look at other houses mean time.
  • GoingOn30
    GoingOn30 Posts: 231 Forumite
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    You've said you don't want to pay any more for it so don't. Sounds like this place will not sell in a hurry so keep looking at other properties.
    If in 2 or 3 weeks you still can't find anything then you can reconsider your position, and in the meantime there's a chance they'll come round to your original offer.
  • giraffe69
    giraffe69 Posts: 3,560 Forumite
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    If you don't think it worth more then follow the advice above. Sometimes buyers and sellers simply need to think they have been successful at bargaining. I'd consider splitting the difference at £172500.
  • M2808
    M2808 Posts: 61 Forumite
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    I told the estate agent to leave my rejected bid on the table. He came back and said ok well leave it on the market for 2 weeks and if nothing then, vendor may consider accepting. 1 week later rang me back saying that the vendor accepted :beer:
  • robatwork
    robatwork Posts: 7,103 Forumite
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    I would do more than just tell the EA your offer still stands.

    Make it crystal clear it's your "full and final offer", and that you are continuing your property hunt, and won't be upping the offer. And don't - that's what you've decided the place is worth.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    edited 19 August 2018 at 10:58AM
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    changingmyways wrote: »

    What I want to know is, is it common for them to reconsider a rejected bid of they don!!!8217;t get anymore interest on the property?


    If they decide to drop the price, yes. Otherwise, no.

    As said by others, let them know your offer stands and in the meantime, keep looking.

    Do do what Rob mentioned though, let the EA know that was the most you could pay on this property.

    The only downside is, sellers now have a nice underpin to their price, so they may decide, if they arent in a hurry or need the money, to use your offer as an incentive to other bidders to pay closer to asking. And there's no harm them waiting a month or two to see if other purchasers may appear especially as we are heading into September when house selling traditionally picks up after the summer doldrums.
  • MysteryMe
    MysteryMe Posts: 3,054 Forumite
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    As others have said, let the agent know that was your final offer but will leave it on the table.

    Don't pay more than you can afford or want to pay. However if it is more a case of not increasing out of principle, you may want to avoid cutting your nose off to spite your face. You say you love the house, you might secure it if you split the difference.
  • mandySaver12
    mandySaver12 Posts: 32 Forumite
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    My neighbours rejected an offer 10k under the asking price but 3 months later no one else had put in an offer decided to accept it given the desperation to sell.

    Keep it on the table and keep looking in the meantime
  • Atomix
    Atomix Posts: 346 Forumite
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    edited 19 August 2018 at 7:39PM
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    Have bought and sold a few properties, and always accept that haggling is part of the process-
    Usually as a seller I would always go back with a counter offer, meeting in the middle somewhere...
    So I think your mistake, was saying full and final offer, as you haven't left the door open for a counter offer... which probably would have been meeting you half-way
    (Which in my experience is the norm when negotiating a price) you've haggled them down, but must understand that as a seller, whether selling a house or car or anything, I like to haggle back, but you've simply shut that avenue off... It's a psychological thing in my opinion.
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