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ceh209
Posts: 876 Forumite
Made an offer today on a property where the owners are separating, guide price was £325k. Agent said they'd had no offers after 2 months on the market and there was
'flexibility on price' so we've offered £290k. Would be prepared to increase to ~£305k if needed but the agent doesn't know that yet, and I genuinely don't think it is worth more than that.
It's been rejected. With a long email spiel back from the agent about what they've spent on the house (it's 2 years old, but not a typical new build), converting the garage, fitting out rooms, expensive curtains etc. However none of that really means anything to us - true without the garage conversion it wouldn't have the living space we wanted, but actually we're making a serious compromise by not having a garage. There's one room they've fitted with lots of expensive wardrobes (one of the owners is a personal shopper apparently), yet we'd want to rip them out. They've astroturfed the garden, we'd redo it with grass. I could go on...
So, what do I say to them? The house was sold for £250k 2 years ago and the agent says they've spent £30k on it. There's other properties in the development (smaller, so not suitable for us) that have sold for a 20% increase in value this year, so that's what we based our max ~£300k thinking on.
I want to point out to them that most of these things were their choice, they don't add to the value of the house etc. But I don't think that will go down well!
Excuse any mis-spelt replies, there's probably a cat sat on the keyboard
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Comments
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If you like it then put an offer in for the max you will pay based on what you have said above and tell the agent that’s your last offer. If they want to sell they will accept it or risk waiting longer.0
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I think you're confused! You're not holding the cards. Are you saying that they should agree to lower the asking price because you won't want the things that they consider add value to the house? Indeed, they will be having a laugh.I want to point out to them that most of these things were their choice, they don't add to the value of the house etc. But I don't think that will go down well!
The bottom line is, they will sell as high as they can, so it will come down to whether they think they won't get any better offer than yours and/or whether they can afford to wait for a better offer. Everything else is irrelevant, so stand to what everyone else. Make another offer if you want and see if they accept, and stop when it's either agreed or you are not prepared to go higher. Everything else is irrelevant.0 -
No offers in two months should be telling you stick with your offer as is. The only way property is going is down IMO. Who knows you may be able to offer less in a few months time..0
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No offers in two months should be telling you stick with your offer as is. The only way property is going is down IMO. Who knows you may be able to offer less in a few months time..
That's what I'm thinking aswell, but we also have a FTB buying our house and they won't wait forever, so I don't know if we have a few months to wait. Grr why does this have to be so difficult?Excuse any mis-spelt replies, there's probably a cat sat on the keyboard0 -
I want to point out to them that most of these things were their choice, they don't add to the value of the house etc. But I don't think that will go down well!
Yes they do, fitted wardrobes cost thousands and you yourself say they were expensive. It sounds like they have spent a lot on items that are not to your taste but there is no reason why they should give away expensive fixtures and fittings because you don't like them. Find another house that you do like with fewer add ons. It will be cheaper0 -
That's what I'm thinking aswell, but we also have a FTB buying our house and they won't wait forever, so I don't know if we have a few months to wait. Grr why does this have to be so difficult?
Simple enough? offer more or move on.Official MR B fan club,dont go............................0 -
Yes they do, fitted wardrobes cost thousands and you yourself say they were expensive. It sounds like they have spent a lot on items that are not to your taste but there is no reason why they should give away expensive fixtures and fittings because you don't like them. Find another house that you do like with fewer add ons. It will be cheaper
I probably didn't explain very well, this isn't fitted wardrobes in a bedroom. It's a separate room downstairs, off the lounge, and only has wardrobes in. The room is no use to us (or probably anyone else) as it is.Excuse any mis-spelt replies, there's probably a cat sat on the keyboard0 -
No point arguing about it, it's just mainly about how much you want to pay for it vs how much the seller wants.
They probably won't come down in price with reasoning, only if they are desperate.0 -
Just offer the price your willing to pay and leave it at that. It would probably be counter productive to explain your reasonings, it will be an emotional time by your vendors and likely some of the anger will be directed at you if you start telling them how they have wasted money on home improvements even if it is true, worse case is they decide not to sell to you regardless of what you offer.0
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All the 'detail' about why the vendor thinks its worth a lot and why you don't agree isn't worth getting into. It certainly isn't an argument anyone can win.
That said, they spent £30k making the house suit them, not necessarily increasing its value, so your view of the general rise in prices of similar houses is probably more relevant.
Its a case of offering 'reasonably' and then giving the vendor time to think not getting into any kind of tit for tat. Its been for sale a while with no offers so that's in your favour. However divorce situations are often fraught with one party often reluctant to sell and holding out for a high (or unrealistic) price. They can be not the most motivated of sellers.
I'd be tempted to up your offer once to show serious intent but then leave it there as a final offer for the vendors to think about. I wouldn't set a deadline, I'd just let them know you are looking at other properties so the offer may lapse if you find something else meantime.0
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