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kevino

Vendor In Denial...............

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I don't want to give location for reasons that will become apparent.

Wife and I have eye on property, in January it was up for 350K (bought in 2007 for 500K), when we enquired and asked if there was room for negotiation, we were told "No, it has already been reduced". Well, 3 weeks later it's up for 335K.

The real peach is the house next door-Exactly the same, which also sold for 500K in 2007, is now up for oieo 575K!!!!!!

I phoned estate agent for the house up for 575K 30 minutes ago...........

Me: Hi, I'm calling about property in x, I just want to confirm the house number and location, as well as details, number of bedrooms etc.

EA:Yes well, it is number x in the street, lovely property!!!

Me: Hmm, well the house next door, exactly same spec is for sale for 335K

EA:Erm....................Really? Could well be, depends what our client wants for their property.

Me:So no room for negotiation with your client, I am willing to negotiate?

EA: Absolutely not, as they say, offers in excess of. Can I take your details and would you like to view the property?

Me:To pay at least a quarter of a million above the odds? No thanks, I'll go next door!!!!

EA:What about other properties?

Me: No Thanks!!!!

In denial!!!!!

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I don't want to give location for reasons that will become apparent.

Wife and I have eye on property, in January it was up for 350K (bought in 2007 for 500K), when we enquired and asked if there was room for negotiation, we were told "No, it has already been reduced". Well, 3 weeks later it's up for 335K.

Are you in Eire? Not seeing 33% drops in my area yet!

Edit to add, pretty useless EA if he didn't know the local pricing history. The original price asked is probably down to his advice, as bad as it obviously is.

Edited by AThirdWay

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Are you in Eire? Not seeing 33% drops in my area yet!

Edit to add, pretty useless EA if he didn't know the local pricing history. The original price asked is probably down to his advice, as bad as it obviously is.

No, not in Eire, northern city heavily dependent on public sector. Will be a massacre here............

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Get in there quick before the 575K one sells, must be something wrong with the cheaper one !!!

yeah - you'll be living next to some deluded idiots - who wants that... ;-)

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On the other hand, if an idiot gets suckered in to buying it, you could do the smug asshole smile every day once you explain that you are 1/4 million better off than them and bought the same house. That makes it almost worth it.

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I don't want to give location for reasons that will become apparent.

Wife and I have eye on property, in January it was up for 350K (bought in 2007 for 500K), when we enquired and asked if there was room for negotiation, we were told "No, it has already been reduced". Well, 3 weeks later it's up for 335K.

The real peach is the house next door-Exactly the same, which also sold for 500K in 2007, is now up for oieo 575K!!!!!!

I phoned estate agent for the house up for 575K 30 minutes ago...........

Me: Hi, I'm calling about property in x, I just want to confirm the house number and location, as well as details, number of bedrooms etc.

EA:Yes well, it is number x in the street, lovely property!!!

Me: Hmm, well the house next door, exactly same spec is for sale for 335K

EA:Erm....................Really? Could well be, depends what our client wants for their property.

Me:So no room for negotiation with your client, I am willing to negotiate?

EA: Absolutely not, as they say, offers in excess of. Can I take your details and would you like to view the property?

Me:To pay at least a quarter of a million above the odds? No thanks, I'll go next door!!!!

EA:What about other properties?

Me: No Thanks!!!!

In denial!!!!!

Could you not drop a hint as to where this property is? Even region would do!

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there are an awful lot of very silly vendors out there still. In mid-Jan we offered on 2 places - and later this week probably add a third - which are still asking 2007+20% prices.

one of the ones we offered on has now reduced by nearly £5K but that is still ludicrously more than vendor paid in 2007 for it. The agent for that one seems adamant that he will achieve the now asking price for it.....

The other one - had an offer from someone else mid-2010 of £250 which they refused ..... and now are holding out for that figure from anyone else. We have offered them what was paid for it in 2007 and it has again been refused. It did go SSTC 10 days ago, and is now back on the market again. We think that was a fishy sale agreed, as the agent handling that one chased us again last week to see if we were still interested and wanted to up the offer, we said no..... it is as I say back on market again and sitting empty and costing owner money as it now a second property they own (having been left property when someone - one of their parents - died 2 year or so ago).

We are still waiting and being optimistic. We have now decided to try and be proactive ourselves - and done our own marketing campaign and pushed leaflets of our own through a lot of doors ourselves asking if people want to sell to contact us direct.

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there are an awful lot of very silly vendors out there still. In mid-Jan we offered on 2 places - and later this week probably add a third - which are still asking 2007+20% prices.

'silly buyers' comes to mind first?

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'silly buyers' comes to mind first?

that is true. we however are not offering at such high prices. we have held at the 2007 sale prices and are holding there for two reasons - one that is all we are prepared to offer, and second, both properties we would have to spend some money on. Hence we factored that in.

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We have now decided to try and be proactive ourselves - and done our own marketing campaign and pushed leaflets of our own through a lot of doors ourselves asking if people want to sell to contact us direct.

Very good idea, though you may find that the vendors still ask silly prices. I suspect this type of house hunting will start to become common. We had three couples approach us direct last year, and doubtless will have another couple of enquires this spring/summer.

I expect the closure of large numbers of estate agents by the end of 2011. Volumes have been low for three or four years and with less mortgage availability they could end up been even lower this year. Give it a couple of years and the local estate agent will have gone the same way as the travel agent. For many estate agents, lettings have become far more lucrative than sales. I suspect that Rightmove/Primelocation will open up to private sellers, and that will be that.

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If the house for 335k sells then it will set the price for all similar houses on the street. I would love to see the faces of the idiots next door if this happens! :lol:

Even more fun if it doesn't sell for 335k.

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that is true. we however are not offering at such high prices. we have held at the 2007 sale prices and are holding there for two reasons - one that is all we are prepared to offer, and second, both properties we would have to spend some money on. Hence we factored that in.

I gathered that, my wholly biased statement was for effect only :-) Still, who would you expect to successfully negotiate with? People looking to do business or those looking to screw you.

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Very good idea, though you may find that the vendors still ask silly prices. I suspect this type of house hunting will start to become common. We had three couples approach us direct last year, and doubtless will have another couple of enquires this spring/summer.

We have had 3 replies in 36 hours. One claims to have had agents round and got valuations of over 240k. They paid 220 in august 2010!! That property was marketed at 240 this time last year as we saw it then, and she paid 220 but all she has done is repaint.... Another replied to us but he is on with an agent and we viewed with agent last June. Not interested in that one. Another call tonight but no idea of his price expectations other than he seems to be sounding silly and hasnot talked to agents etc yet and claims no idea of what it is worth.

Think our problem with this approach could be in getting agents stupid over high valuations to get the business off the owners in first place then transferred back to lower reasonable values to start negotiating from.

We fear some agents will be giving high valuations to win business rather than reasonable achievable valuations....

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No, not in Eire, northern city heavily dependent on public sector. Will be a massacre here............

Good luck, hope you get a 2nd bite of the cherry when it hit's 50% below peak :)

Local prices here are @ 10 - 15% down from 2007, but being held up by a, largly renting, student population. Unfortunately, I suspect the Scottish student funding arrangements will lead to higher student numbers in the short term, bouying up the BTL/forced landlord crowd.

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  • 317 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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