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I suppose I can see people’s point about ‘waiting to see what others offer’ but it is still greed surely?
If I was selling and someone came in and offered asking I’d be like ‘yep’ great now I can start my search and be on my way.
Gambling to see what else I can get out of it would be too much of a risk for me as a seller personally. As people always say. A house is only worth what the valuation says it is.
Still think the advice about leaving on the table for a set amount of time is sound advice. Let’s the vendor know they have a secured buyer but only for a short amount of time. I’d also would let them know I woundt be raising The offer or entering a bidding war, I’d let them know I’ve been searching for a while and I’m ready to get underway with a sale. A motivated buyer is always a positive.
I suppose the real issue is that the OP went in guns blazing too early and too eager. Should of just asked to be kept informed if any offers go in once on the market. If someone came in under you could of offered asking but if 5 people came in at asking you would of known it wasn’t meant to be.
Like someone else said it could be that they want it because it IS a bargain in the area it’s in. And if the vendor and EA know this then asking price is of little use here0 -
Detroit
Valid point, I!!!8217;ve been gazumped and I!!!8217;ve never been so angry! Think the vendor here has acted perfectly reasonable in saying no rather than stringing them along0 -
An asking price is only a guide as to what the house might sell for. Its value is what someone will pay for it. So if people are going to be willing to pay more for it than the imaginary number that the estate agent or the owners came up with then that is what it is worth.0
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If I was selling and someone came in and offered asking I’d be like ‘yep’ great now I can start my search and be on my way.
Gambling to see what else I can get out of it would be too much of a risk for me as a seller personally. As people always say. A house is only worth what the valuation says it is.
I'm not sure it's that much of a gamble is it? The vendor has got an asking price offer from, what would appear to be, a well motivated seller. This before it is on the open market. As the vendor I'd be pretty confident of using that figure while looking myself.
I do think this depends on how certain the vendor is on the asking price. When I sold my flat the estate agents all came in with a figure right on the stamp duty limit. So I reckoned that was a pretty good indicator that it was about right.
As it happened before I marketed it my best friend said he'd buy it. I thought, also, that he'd be a motivated buyer - I wouldn't do that again. He has the flat, we are still best mates but it wasn't the best idea!
We agreed a slightly lower figure to take account of no agent's fees and went from there..0 -
The point was more
Personally I would be happy with an asking price offer at any stage and just accept so I can search myself. Than hope for more money.
I think the op needs to accept these vendors are motivated by how much they can get rather than a quick sale. Nothing wrong with either reason really just the way the cookie crumbles0 -
The point was more
Personally I would be happy with an asking price offer at any stage and just accept so I can search myself. Than hope for more money.
Yes I get that. Sorry - perhaps I should stop posting when drinking wine as I don't always explain myself well then!
:beer::beer:
The vendors haven't started looking yet. They don't seem in any hurry so, in their situation, I'd know the minimum I would be getting and look at properties based on that - and a bit higher.
I guess we all go about it in different ways. There does seem general agreement, though, that OP has got this wrong, tactically.0 -
I think you'll find that the number of "greedy" vendors (in the eyes of a buyer) is equally matched by the number of "stingy" buyers (in the eyes of a vendor)....
Where you sit in this debate depends on whether you're buying or selling...0 -
Maybe the seller was just taken aback by the speed. Their house is not yet properly on the market, presumably because they aren't quite ready yet. They haven't started looking, and it could be a while before they find something suitable.
They might just be hesitating because they are panicking ... Do I really want to move ... Will I find something easily ... This has all happened too fast!0 -
deannatrois wrote: »I'm not sure there is a lot you can do now. The vendors have hesitated accepting due to the fact that they have an asking price offer so early. Some would take the property off the market because they just want the money they have asked for, but most others would react the same, its human nature. You can't take the cat out of the bag now.
You will just have to wait and continue to look. It was worth trying but it hasn't worked, yet.
I know its hard, but it might be worth really looking at other areas, for example up and coming areas close by. I think the market has slowed down a bit just now in many areas so you might have to wait a bit longer or adjust what you are prepared to look at.
Agree, to receive a bid so early at full asking price implies the property may be underpriced.0
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