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Muskoka

I'm Going To Make An Offer

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Property only been on market since May 09 at 420K However, I do know EA was called to value same property a year ago, when he valued it at 350K tops. Couple splitting up - wife drinks too much (fact). Vendors paid 360K in 2005. Detached, nice location but is timber framed, hence perhaps unmortgageable. Two other properties in same location for sale - one at 260K, one at 370K. Nothing selling due to timber frame. Property just about to go multi-agency. Not particularly pretty either. Location however is excellent - one of the old plotlands. Appears to have foundations...

When EA went to value, vendor told them - just get rid, even at land value.

I'm going in at 250K cash. Will I be laughed at? I have no doubt. Am I bothered? No, not a bit. Even EA says when they purchased, they paid way, way over value.

Think I might put the offer in writing direct to vendor though - (EA happy for me to do this - yes, I know this may make the vendor realise is not worth asking price, so could work for EA also, but I'm not fussed). Dont expect to get it (in any shape or form), so have nought to lose. Only going to put my mobile no on offer letter, so will only take an ear bashing at best on the phone.... :P or to be completely ignored, which is fine too.

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The issue I have found with most of the property coming on the market is that they were bought late in the boom so the vendors cannot afford to take an offer so it's mostly wasting time.

Personaly how could most people absorb a 10k+ loss? Unless they are forced by circumstances they will try and "sit it out". Likewise with your vendors.

I have recently found a property I like which the vendors bought in 2001 so I can make an offer which covers their transaction costs and accounts for RPI over the 9 years they have owned it while still being a good discount on alleged "valuation". It is on sale after a death.

The obstacle....the agent who is a fecking ***** and despite this house having not sold so far refuses to take my offer seriously or even discuss what the vendor actually wants. (it is not worth the asking price)

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Property only been on market since May 09 at 420K However, I do know EA was called to value same property a year ago, when he valued it at 350K tops. Couple splitting up - wife drinks too much (fact). Vendors paid 360K in 2005. Detached, nice location but is timber framed, hence perhaps unmortgageable. Two other properties in same location for sale - one at 260K, one at 370K. Nothing selling due to timber frame. Property just about to go multi-agency. Not particularly pretty either. Location however is excellent - one of the old plotlands. Appears to have foundations...

When EA went to value, vendor told them - just get rid, even at land value.

I'm going in at 250K cash. Will I be laughed at? I have no doubt. Am I bothered? No, not a bit. Even EA says when they purchased, they paid way, way over value.

Think I might put the offer in writing direct to vendor though - (EA happy for me to do this - yes, I know this may make the vendor realise is not worth asking price, so could work for EA also, but I'm not fussed). Dont expect to get it (in any shape or form), so have nought to lose. Only going to put my mobile no on offer letter, so will only take an ear bashing at best on the phone.... :P or to be completely ignored, which is fine too.

Why so timid ?

The British are hopeless when it comes to buying/negotiating.

Put your offer in with your full name, address, telephone numbers. etc with your head held high.

Edited by Fishman

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Go for it !

I was going to type the same response. However, having heard and considered all the recent "property prices are rising again" news, I think a higher than asking price offer should be made. Don`t want to "miss the boat", and all that.

Repeat after me..... HPI = recovery, HPI = recovery. Property is cheap, Property is cheap.

Edited by Prof

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Why so timid ?

The British are hopeless when it comes to buying/negotiating.

Put your offer in with your full name, address, telephone numbers. etc with your head held high.

Agreed, but as I advised in my previous post, you need to offer £425K...... property prices are rising, you know.

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Agreed, but as I advised in my previous post, you need to offer £425K...... property prices are rising, you know.

If you do not feel shamed face at the offer being to low,you are offering to much.

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Property only been on market since May 09 at 420K

I'm going in at 250K cash. Will I be laughed at? I have no doubt. Am I bothered? No, not a bit. Even EA says when they purchased, they paid way, way over value.

I've offered 250 on a 425 before, just gets ignored by the EA.

VMR.

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I've offered 250 on a 425 before, just gets ignored by the EA.

VMR.

EA is fully aware that I am making an offer direct to the vendor and happy for me to do it. Ea hasn't got the bottle to do it, but happy for me to look like a dork. I'm actually quite friendly with this EA (still dont trust em tho). Even of the vendor laughs/cries at my offer, maybe the vendor then will drop the price so the EA has something to work with. I'm really not fussed anyway. Its keeping me amused :P

Maybe I'm missing an opportunity here actually. I should negotiate with agents that I get a cut of whatever I can get the price knocked down by ...... :ph34r: so they can sell the damn houses!

TO - Very mean reversion - Put the offer in direct to the vendor. What do you have to lose, apart from face? and who cares if your not going to get it anyway??

Edited by Muskoka

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Guest DisposableHeroes
Property only been on market since May 09 at 420K However, I do know EA was called to value same property a year ago, when he valued it at 350K tops. Couple splitting up - wife drinks too much (fact). Vendors paid 360K in 2005. Detached, nice location but is timber framed, hence perhaps unmortgageable. Two other properties in same location for sale - one at 260K, one at 370K. Nothing selling due to timber frame. Property just about to go multi-agency. Not particularly pretty either. Location however is excellent - one of the old plotlands. Appears to have foundations...

When EA went to value, vendor told them - just get rid, even at land value.

I'm going in at 250K cash. Will I be laughed at? I have no doubt. Am I bothered? No, not a bit. Even EA says when they purchased, they paid way, way over value.

Think I might put the offer in writing direct to vendor though - (EA happy for me to do this - yes, I know this may make the vendor realise is not worth asking price, so could work for EA also, but I'm not fussed). Dont expect to get it (in any shape or form), so have nought to lose. Only going to put my mobile no on offer letter, so will only take an ear bashing at best on the phone.... :P or to be completely ignored, which is fine too.

Nothing to lose. Even if he matches your silly offer, with a silly rejection, it will be worth a laugh.

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Letter posted & now on its merry way direct to the vendor - :P:P:P (subject to contract/survey) and all that baloney

Hmm, what else can I do to amuse myself this week......

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Letter posted & now on its merry way direct to the vendor - :P:P:P (subject to contract/survey) and all that baloney

Hmm, what else can I do to amuse myself this week......

I do hope that you ignored my advice. Please let us know what, if any response you get.

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. Couple splitting up - wife drinks too much (fact).

I'm going in at 250K cash. Will I be laughed at?

Not if you offer £245K, plus a dozen bachelor porn vids for him; and a dozen boxes of wine for her.

I'm calling it 'the w@ankers and drunks' bidding strategy....

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You just never know... they may have no mortgage and cannot possibly spend another moment together so splitting £250K will be better than waiting and waiting and not getting any other offers..... However if you need a mortgage or not it'd be worth finding out if the property would be mortgagable... timber framing isn't an automatic no-no... in fact most lenders like timber framing as long as its pre-war... its the post war stuff which caused the problem as the timber was cheaper , softer and not properly seasoned.

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We wish you well. As has been said on this site before, making low offers, even if rejected is a pretty good strategy to lower the expectations of EA and vendors so HPCers should do this as often as possible. We've done it twice already and our only regret is that we were not there in person to watch the inevitable array of emotions crossing the significant face. Don't ever forget that you are making an offer that they very likely cannot. Their efforts to make you feel small or silly are purely self defence.

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