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Sale Turned Down For The Sake Of Just £950?

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Weird goings on with my offer

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Hi Folks

This is a weird one and i value all advise . After almost 3 yrs looking ive found the property i and my family would be very happy in . The property has the asking price of £185,950 . This property was agreed and the buyers were due to move about a month ago however the chain fell apart , hence its back on the market and im keen to get it . Ok my house currently has a offer on it which im happy but the estate agent for the property im after will not go SALE AGREED until my buyer has agreed there house and the buyer buying their house has agreed there house etc etc until i suppose we get back to either a 1st time buyer or a cash buyer . They will however accept the asking price of £185,950 if i can get my chain fully linked up . I really dont want to lose this house so i made a visit to the bank and they are willing to lend me the full £185,950 to purchase the house . Its going to cost me around £1200 a month interest only to pay this back ( this includes life insurance etc etc ) . Thing is that going to really hard for me to pay back . I there decieded that since the property is now empty ( owner took a bridge when the chain fell apart ) i put in a offer of £175K cash , no chain . This was declined with the ea saying that the owners wanted the full asking price . Ok then after 10 days i then decieded to go another up to £178k and asked my estate agent to do this on my behalf . The sellers ea stated to my ea that last week i offered £185k and the owner declined this ( not true i offered £175k) . Hence they have made a mistake with my 1st offer . I am however gobsmacked that the owners turned down a cash offer of £185k in favor of waiting on a chain getting linked up and then accepting £185,950 . They are paying a bridging loan and i cant get my head around the fact they wont accept £185K cash . ( that said im not offering £185k cash but the ea has made a mistake of offering this ) . However if say i was offering £185k do you think there something fishy going on here ??

Thanks in advance for your thoughts

Williams

http://forums.moneysavingexpert.com/showthread.html?t=88963

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Theres alot of people who are playing with big money which dont have the financial sense to do so.

Everyone who wants a mortgage should sit an exam.

The peopel who refused that on the grounds of £950, will be doing so on principle, they are being emotive when really they should be looking seeing it as a busniess transactions.

People think its a game

f*ck um, each and everyone one of them.

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Guest muttley

It's called being stubborn,and can cost a lot of money

Back in 1992 we reduced the house we were selling from 54,950 to 49,950 but decided to take no offers.The house sold quickly,but the buyer couldn't believe we wouldn't even drop by another 500. (This was my idea.Looking back it could have cost us)

Maybe the vendors already feels they have dropped the asking price BMV.

As a warning though,same year,we offered 115k on a 125k house and were turned down flat.We went back with 118k and were told to stop taking the mickey.We had been prepared to go to 120k.

Fast forward to late 1994 and the house was still on the market...asking price 112k!!

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The peopel who refused that on the grounds of £950, will be doing so on principle, they are being emotive when really they should be looking seeing it as a busniess transactions.

Sounds to me as if their on an agreed removal package with bridging interest covered and a guaranteed takeout at the asking price. Then it makes sense.

p

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Yes, that was nine hundred and fifty pouns, I didn't miss any zero's.  :blink:

Edit: D'oh forgot link.

http://forums.moneysavingexpert.com/showthread.html?t=88963

If you wouldn't take £1, and you would take £1,000,000, then there has to be some number n such that you would take £n but would turn down £n-1. If not, then you could be bargained down to £1: "So, you'd take £185,000. How about £184,999? That's OK? Great, how about £184,998?" and so on.

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Yes, that was nine hundred and fifty pouns, I didn't miss any zero's.  :blink:

Edit: D'oh forgot link.

http://forums.moneysavingexpert.com/showthread.html?t=88963

Hrm, they're having to keep a lot of plates spinning, and even the chap isn't too sure about the payments, I wonder if he has considered he will be left with two liabilites in a worsening market?

Seems to be all emotion and little rationality, why don't they just stop and think about the sort of figures involved?

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Call me stupid but i have read the thread & it is very poorly written so reads like gobbledegook to me! Can't follow it at all.

Jeez that thread makes my posts read like Sir Francis Bacon wrote em :rolleyes:

I've re read it and the guy has done what the vendor did, he has gone for a "bridge" Now all we need is for the vendor to accept Williams55's offer, and then for the "wrinklies" to realise this, and revise their offer 10K downwards because he has also bridged :D see what he says then :rolleyes:

Edited by Catch22

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QUOTE: ''after almost 3 yrs looking ive found the property i and my family would be very happy in.''

Bad time to spend 3 years looking for a house...while this person dithered prices doubled! :lol:

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In my local paper yesterday there was a woman wondering why her house had been on the market for over a year at 355K. A quick check of nethouseprices showed that back in 2001 the hosues were being soldo n that road for about 120K to 135K. Go figure.

Whether it is £950 or 150K people are irrational when it comes to the real value of their houses.

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Guest The dude

You put in an offer of 175k which was declined.....then you increased your offer to 178k....what happened was this: the vendor presumes you are desperate to get this property....they won't budge yet......wait a while.....then offer them about 150K...

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You put in an offer of 175k which was declined.....then you increased your offer to 178k....what happened was this: the vendor presumes you are desperate to get this property....they won't budge yet......wait a while.....then offer them about 150K...

Thats evil! :lol::lol::lol:

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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