waitingandsaving Posted August 14, 2009 Share Posted August 14, 2009 I diasagree, his first line:"I saw a property come onto the market recently. It's in an area I really like and is priced very reasonably so I decided to go view it." he thought the price was very reasonable yet he offered below that price and then hurls names at the builder for rejecting it. Just seems odd. Not that he offered less, everyone would, but the abuse after (ie, greedy wa****) Apologies, I read the offer line that said something similar but different... "Decided to put offer in ~5% less than asking- this is a price I thought was reasonable, bare in mind. Got turned down as builder wants to hold out for more." If it's only been on for a week, and he's already got an offer of 95% then of course he's going to hang out for the rest... chances are that if he gets an offer of full asking price next week, he'll still hang out for some more - as offers like that coming in that soon must mean the property has been undervalued! Quote Link to comment Share on other sites More sharing options...
pie-eater Posted August 14, 2009 Share Posted August 14, 2009 Get a mate to offer 20% under and come in with a final offer -15%. Quote Link to comment Share on other sites More sharing options...
pie-eater Posted August 14, 2009 Share Posted August 14, 2009 That should secure it. Could secure his -5% offer. It's all a game. Quote Link to comment Share on other sites More sharing options...
Guest bound Posted August 14, 2009 Share Posted August 14, 2009 I saw a property come onto the market recently. It's in an area I really like and is priced very reasonably so I decided to go view it.Nice house. It's a 3 bedroom end terrace and being sold by builder (couple part exchanged on new build). Mortgage for me alone would be less than 3 x salary and I could get half paid off in 5 years. Decided to put offer in ~5% less than asking- this is a price I thought was reasonable, bare in mind. Got turned down as builder wants to hold out for more. Greedy c**** Don't get upset about it. They didn't except your offer, oh well, find someone who will sell for what you want to buy for, or maybe you will have to buy for what someone wants to sell for. It's a market after all. Quote Link to comment Share on other sites More sharing options...
crashologist Posted August 14, 2009 Share Posted August 14, 2009 (edited) It's worth at least 60k and not as much as 100k then isn't it. And this process will continue every time the asking price is dropped or the offer is improved. It might not trade but the window of potential values will narrow. I have bought at this lower percentage before and to me it was worth the 100 at the time (and to the bank it was recently worth 400%). Houseprices are crazy these days! Edited August 14, 2009 by crashologist Quote Link to comment Share on other sites More sharing options...
Sybil13 Posted August 14, 2009 Share Posted August 14, 2009 When you say recently, how long has it been on the market for? I could well imagine that if you've put in a newar asking offer in the first couple of weeks, he's probably being fair to wait to see if he gets a bigger bite... especially with all the green shoots talk that's about at the moment.Give him time, you never know, he may be back to you... Good luck! What do I know, but my intuition tells me that just as if you put a seed that the packet says "sow in March" in the soil in July the chances are it will not grow , so putting a property on the market now ..... There is a point in the year when you know that plants just will not do what they did in the spring....and I feel it is the same for the property market, we have passed the point...... You can't blame people hoping....but I sense the downturn in energy just as I can sense the turnaround in the seasons. The builder might get an offer but that means nothing at the moment..... HPC Link Quote Link to comment Share on other sites More sharing options...
MinceBalls Posted August 14, 2009 Share Posted August 14, 2009 I saw a property come onto the market recently. It's in an area I really like and is priced very reasonably so I decided to go view it.Nice house. It's a 3 bedroom end terrace and being sold by builder (couple part exchanged on new build). Mortgage for me alone would be less than 3 x salary and I could get half paid off in 5 years. Decided to put offer in ~5% less than asking- this is a price I thought was reasonable, bare in mind. Got turned down as builder wants to hold out for more. Greedy c**** Negotiation is all about getting a result which leave both feeling they have 'won' (even if deep down you actually know you have gained the upper hand). If you cannot achieve this then you are not going to get anywhere in the current climate (caveat: stressed sellers do not fit into this). If you wanted 5% off you should have gone in with 10-15% reduction offer. That way, a 5% reduction would make the seller feel like he has 'won'. Going in with 5% leaves you no wriggle room and besides, the builder probably thinks that if you are only offering 5% less than the asking price you are probably willing to pay the full amount. Unfortunately, without someone else going in and offering 10-15% less you seem to be stuck. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted August 14, 2009 Share Posted August 14, 2009 Decided to put offer in ~5% less than asking- this is a price I thought was reasonable, bare in mind. Got turned down as builder wants to hold out for more.Greedy c**** This doesn't really seem news - you and the builder have a different view of a fair price. Therefore you cannot trade unless one of you changes your view. The asking price is a bit of an irrelevance as it could be set high or low - i paid the full asking price for my house, as this was still 5-10% below what similar properties were selling for. However in the past i have offered up to 10% less. It's annoying but you either need to up your offer, wait and see if he lowers his, or move on. Quote Link to comment Share on other sites More sharing options...
NewBuildBuyer Posted August 14, 2009 Share Posted August 14, 2009 I saw a property come onto the market recently. It's in an area I really like and is priced very reasonably so I decided to go view it.Nice house. It's a 3 bedroom end terrace and being sold by builder (couple part exchanged on new build). Mortgage for me alone would be less than 3 x salary and I could get half paid off in 5 years. Decided to put offer in ~5% less than asking- this is a price I thought was reasonable, bare in mind. Got turned down as builder wants to hold out for more. Greedy c**** Listen if you cant afford it just continue renting. There are many landlords out there who are struggling and need the HPC crew to pay their mortgages. Quote Link to comment Share on other sites More sharing options...
crashologist Posted August 14, 2009 Share Posted August 14, 2009 My advice would be for buyers to remain patient unless the price is favorable. Ask yourselves are we at the beginning, the middle, or the end of this crash? In terms of purchase you will get the best price at the end of the crash. Quote Link to comment Share on other sites More sharing options...
DabHand Posted August 14, 2009 Share Posted August 14, 2009 And the lower offer isn't the market price if it doesn't trade there. Touché. Touche'ing your own comments is like laughing at your own jokes. Quote Link to comment Share on other sites More sharing options...
Beckenham Posted August 14, 2009 Share Posted August 14, 2009 (edited) A nice house in an area you want to live in that is affordable on your income that you'll lose for 5%? And you think the builder is the greedy ‘****.’ This is the very essence of the HPC hypocrisy; you who bemoan those who see houses as cash tills or investments are completely hung up on the price. 5% is such a small margin that over the lifetime of a mortgage you won't notice it. Yes, you may get it cheaper but you may lose it. A house is a home- if you want to live there in the medium to long term then house prices don’t matter. You’re not buying at the top of the market; you’re buying for a reasonable price. I sold and rented at the peak band waited. Then I bought for a good price in a nice area. I don't want to move for 15 years at least. Sellign and renting was something I had to do but I'm so glad I now have a house tha t I'm settled in. Money isn't everything. And a paper profit is nothing. Good luck; I hope you’re happy whatever you do. Edited August 14, 2009 by Beckenham Quote Link to comment Share on other sites More sharing options...
Gigantic Purple Slug Posted August 14, 2009 Share Posted August 14, 2009 I saw a property come onto the market recently. It's in an area I really like and is priced very reasonably so I decided to go view it.Nice house. It's a 3 bedroom end terrace and being sold by builder (couple part exchanged on new build). Mortgage for me alone would be less than 3 x salary and I could get half paid off in 5 years. Decided to put offer in ~5% less than asking- this is a price I thought was reasonable, bare in mind. Got turned down as builder wants to hold out for more. Greedy c**** Sounds like you are the loser already for getting all emotional about the issue and using words like greedy. You sure you haven't fallen in love with the place ? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted August 14, 2009 Share Posted August 14, 2009 Negotiation is all about getting a result which leave both feeling they have 'won' (even if deep down you actually know you have gained the upper hand). If you cannot achieve this then you are not going to get anywhere in the current climate (caveat: stressed sellers do not fit into this). If you wanted 5% off you should have gone in with 10-15% reduction offer. That way, a 5% reduction would make the seller feel like he has 'won'. Going in with 5% leaves you no wriggle room and besides, the builder probably thinks that if you are only offering 5% less than the asking price you are probably willing to pay the full amount. Unfortunately, without someone else going in and offering 10-15% less you seem to be stuck. +1....a true negotiator view...not forgetting, the builder will be buying and selling houses for a living, so he can keep a poker face better than any amatuer....and lets face it, a house is not a thing most of us buy and sell every month. Quote Link to comment Share on other sites More sharing options...
the primitive Posted August 14, 2009 Share Posted August 14, 2009 Aren't you just as greedy for offering less? What's the difference? Neither are greedy (well not on the basis of just this evidence) I'd be grateful I got turned down - come back in 12 months and it'll be 15% less. Quote Link to comment Share on other sites More sharing options...
Phil S Posted August 14, 2009 Share Posted August 14, 2009 What do you mean by 'characters'? There are some 'characters' who ask too much for a property and some who want it for too little. Both are equally without repute. Quote Link to comment Share on other sites More sharing options...
tedies friend Posted August 14, 2009 Share Posted August 14, 2009 I think its gready for a seller to want to get the most for what they sell, I also think its gready for a buyer to try to purchase things for as little as possible, my question is is there anyone on this forum not gready them, and if you arn't your a fool. My advise to someone purchasing a house is do not antagonise the seller. If its been on the market over a month a 10% offer below asking or maybee 15%, but be quick and decisive, a second view prior to an upped offer and step up by say 5%, but what do I know. Oh and a question, why do people hate EA's? They are there to get the most money from a sale that is why the vendor pays them Quote Link to comment Share on other sites More sharing options...
ReJoyce Posted August 14, 2009 Share Posted August 14, 2009 Oh and a question, why do people hate EA's? They are there to get the most money from a sale that is why the vendor pays them Because they are lying sh1ts. cheers J Quote Link to comment Share on other sites More sharing options...
tedies friend Posted August 14, 2009 Share Posted August 14, 2009 Because they are lying sh1ts.cheers J Well apart from them being lying sh1ts why does everyone hate EA's Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted August 14, 2009 Author Share Posted August 14, 2009 Well apart from them being lying sh1ts why does everyone hate EA's No other reason. A large proportion of them are vermin. They give the ones that aren't a bad name too. Bit like politicians really Quote Link to comment Share on other sites More sharing options...
Mr Punter Posted August 14, 2009 Share Posted August 14, 2009 Find out what he would be willing to accept. Maybe suggest that the seller could help with stamp duty or do some works to the house. In the end, you might get 3% off. Also, I know negotiating can be a little emotional, but I don't think it helps to consider the other party to be c*** and referencing it does nothing to help other people's understanding of you and your position. Poor show. Quote Link to comment Share on other sites More sharing options...
jmzr Posted August 14, 2009 Share Posted August 14, 2009 Oh and a question, why do people hate EA's? They are there to get the most money from a sale that is why the vendor pays them i take it that is a genuine question, and not a joke? if you have ever dealt with EA's, you'd know why. i'd say i've dealt with 15 or so over the years, when buying and selling, and i can remember one positive experience. there are a few of the experiences where my wife had to physically restrain me from marching to the office and getting medieval on them.....such was the extent of the lying, deceipt and deception that was occuring. they have a reputation for a reason...no smoke without fire etc Quote Link to comment Share on other sites More sharing options...
tedies friend Posted August 14, 2009 Share Posted August 14, 2009 i take it that is a genuine question, and not a joke?if you have ever dealt with EA's, you'd know why. i'd say i've dealt with 15 or so over the years, when buying and selling, and i can remember one positive experience. there are a few of the experiences where my wife had to physically restrain me from marching to the office and getting medieval on them.....such was the extent of the lying, deceipt and deception that was occuring. they have a reputation for a reason...no smoke without fire etc I suppose its because I've not had any problems that I'm not anti, and a lot on this forum complain about EA's trying to obtain high prices for the properties they are selling, to which "its their job, thats what I'm paying them for" springs to mind Quote Link to comment Share on other sites More sharing options...
The Realist Posted August 14, 2009 Share Posted August 14, 2009 The discussions relating to what a house is 'worth', or what the 'market value' is, are pointless. These terms are loosely defined. Summary of this story.... Vendor wants to sell house and buyer won't pay what man wants. No sale is agreed. From this you can't draw any conclusions about how realistic the price or offer were. However bearing in mind the small difference between the vendor's offer and the buyer's asking price, it is tempting to draw conclusions about one or both of their commitment to reaching a deal. Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted August 14, 2009 Author Share Posted August 14, 2009 I suppose its because I've not had any problems that I'm not anti, and a lot on this forum complain about EA's trying to obtain high prices for the properties they are selling, to which "its their job, thats what I'm paying them for" springs to mind It might be their job, but it's not right to bulls*** and lie through their teeth! Quote Link to comment Share on other sites More sharing options...
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