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Sellers only bought house 8 months ago...

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North_London_Girl
North_London_Girl Posts: 14 Forumite
in House buying, renting & selling
We've finally find a house we like in a suitable area.

The sellers bought the house for £265K just before Christmas, and are asking for £287,000.

They haven't completed any modifications to the house in that time, and similar properties have sold for around £265 - £270K.

The reason given for the sale being so soon to the purchase, is that the sellers have found a viable property in their ideal location but not 100% the EA is being truthful on this, as it seems a bit wishy washy.

Should we be concerned that they are selling so quickly? I can't see any major issues to be aware of, neighbours seem fine, area is generally very nice and nothing obviously wrong with the house. Or are we being overly suspicious?

Our other query is whether they're trying to chance it with the uplift to £285,000 and if they actually have an intention to sell.

Has anyone been in this situation before?
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Comments

  • bouicca21
    bouicca21 Posts: 6,514 Forumite
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    Is the property in London? If so, I very much doubt that the market is rising. In my bit of London there is a shortage of properties for sale, so the market isn't actually falling but is pretty static. Visit a few more estate agents and found out how the market is.
  • North_London_Girl
    North_London_Girl Posts: 14 Forumite
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    bouicca21 wrote: »
    Is the property in London? If so, I very much doubt that the market is rising. In my bit of London there is a shortage of properties for sale, so the market isn't actually falling but is pretty static. Visit a few more estate agents and found out how the market is.

    It's in Hampshire. Overall the market for the town/village its in has dropped a little, but the individual road has increased slightly.
  • SG27
    SG27 Posts: 2,773 Forumite
    edited 12 August 2018 at 1:19PM
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    Ask the agent why they think the property is worth £22k after just 8 months and in a flat market. Ask the vendors directly why they are moving so soon. It maybe it easier to jusdge if they are lying. It may be they are trying to sell for the extra to help cover the buying and selling costs as tbh it is so expense to sell/buy it would not be worth it after 8 months unless you had a very good reason.
  • RiversTam
    RiversTam Posts: 65 Forumite
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    Could be getting a divorce and would rather not broadcast it.
    I know buying a house was the closest I've come to divorce yet!
    I think it's best to just ask when you view.
    The trouble with having an open mind, of course, is that people will insist on coming along and trying to put things in it.
  • PokerPlayer111
    PokerPlayer111 Posts: 343 Forumite
    edited 12 August 2018 at 1:24PM
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    I was trying to buy a house and had the same thing, sellers wanted 20k more for a house they bought about 6 months ago at 20k less. They ended up getting the 20k more also as it sold pretty quick. When i asked the EAs at the time why the higher price they said the seller wanted more money to buy somewhere else.

    Nothing much you can do, anyone can attempt to sell for whatever price they wish, you are free to buy or not buy - its better for society if we have freedoms like this.


    edit: btw at the time i first offered them same as what they paid and they declined, i then offered 5k more than what they paid and they declined.
  • North_London_Girl
    North_London_Girl Posts: 14 Forumite
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    PokerPlayer111 wrote: »
    I was trying to buy a house and had the same thing, sellers wanted 20k more for a house they bought about 6 months ago at 20k less. They ended up getting the 20k more also as it sold pretty quick. When i asked the EAs at the time why the higher price they said the seller wanted more money to buy somewhere else.

    Nothing much you can do, anyone can attempt to sell for whatever price they wish, you are free to buy or not buy - its better for society if we have freedoms like this.


    edit: btw at the time i first offered them same as what they paid and they declined, i then offered 5k more than what they paid and they declined.

    This is useful to know as would essentially be our tactic. We are in a strong position as FTB if they do want to sell quickly, but not prepared to pay over the odds for it.
  • North_London_Girl
    North_London_Girl Posts: 14 Forumite
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    RiversTam wrote: »
    Could be getting a divorce and would rather not broadcast it.
    I know buying a house was the closest I've come to divorce yet!
    I think it's best to just ask when you view.

    After another review of the photos of the house, you might be onto something!
  • Carrot007
    Carrot007 Posts: 4,534 Forumite
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    North_London_Girl wrote: »
    After another review of the photos of the house, you might be onto something!


    If it is a divorce then one person might not want to sell but agreed to sell it at a silly price.


    Reduce your offer to what is reasonable as see what occurs.
  • hazyjo
    hazyjo Posts: 15,470 Forumite
    First Anniversary Name Dropper First Post Photogenic
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    If the house is joined to another or two, I would definitely be knocking and checking out the neighbours!

    Would also have a full structural survey (think now called a building survey, never remember).
    2023 wins: *must start comping again!*
  • oldwiring
    oldwiring Posts: 2,452 Forumite
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    Hampshire is a large county, and in my area (S.W Hants) prices are certainly not falling, because the area is in demand.
    Rightmove has an historical data site https://www.rightmove.co.uk/house-prices-in-Hampshire.html which may help with your intended area.
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