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flyingscotsman

How Find Out If Seller Is Motivated

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I could be brazen and ask the estate agent "are the sellers desperate?" but maybe I need to to be more subtle :)

What's the best way to steer a conversation and eek out from an estate agent the status of the owner of the house is and how keen they are to sell.

By status I mean are the sellers retired and want to sell and buy something smaller or are they in a chain and trying to move up.

A few weeks ago we went to see a cottage that at the time had been dropped in price by £45K. We were in the house not 30s and the estate agent said "they are desperate to sell" which was a strong clue as to what are tactic would be in negotiation. As it is it still wasn't worth what they were asking but it was interesting to hear an estate agent say that.

So if any of you seasoned negotiators can offer any advice it would be much appreciated.

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Simply asking why the vendors are moving often gives you all the clues you need.

Absolutely, I generally ask quite a lot of questions about them, estate agents are often quite forthcoming. Also I more or less never look at properties where the seller bought in 2005 or later as, for the most part, they want their money back plus a premium.

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I could be brazen and ask the estate agent "are the sellers desperate?" but maybe I need to to be more subtle :)

What's the best way to steer a conversation and eek out from an estate agent the status of the owner of the house is and how keen they are to sell.

By status I mean are the sellers retired and want to sell and buy something smaller or are they in a chain and trying to move up.

A few weeks ago we went to see a cottage that at the time had been dropped in price by £45K. We were in the house not 30s and the estate agent said "they are desperate to sell" which was a strong clue as to what are tactic would be in negotiation. As it is it still wasn't worth what they were asking but it was interesting to hear an estate agent say that.

So if any of you seasoned negotiators can offer any advice it would be much appreciated.

Depends on the property but we got quite a lot of information last time by going in the local pub at lunchtime and having a long chat with the barmaid!

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I could be brazen and ask the estate agent "are the sellers desperate?" but maybe I need to to be more subtle :)

What's the best way to steer a conversation and eek out from an estate agent the status of the owner of the house is and how keen they are to sell.

I have been looking at properties for some time and one of the considerations is that the seller is motivated, either having already moved out or some other obvious need to move. All of the houses have been priced very optimistly at a price that is above what I am prepared to pay based upon historic LR data.

Yet almost none of them will entertain offers more than a couple of percent below asking.

So, having a motivated seller does not in any way mean that they will accept a silly offer IME, YMMV

tim

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I have been looking at properties for some time and one of the considerations is that the seller is motivated, either having already moved out or some other obvious need to move. All of the houses have been priced very optimistly at a price that is above what I am prepared to pay based upon historic LR data.

Yet almost none of them will entertain offers more than a couple of percent below asking.

So, having a motivated seller does not in any way mean that they will accept a silly offer IME, YMMV

tim

This chimes with my experience over the past few weeks. Mrs Flynn and I have started viewing houses in the West Country: the asking prices are so far from my view of "fair value" (based on LR figures) that I am discouraged from making an offer as I don't want to be viewed as a "time waster" by the agents. In my view, it is the buyers who in some cases are time wasting by asking for a figure so divorced from reality. Some of them are allegedly really desperate to sell too (death debt divorce etc) but this is never reflected in the price.

Roll on an interest rate rise ( 2017??) to focus minds.

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This chimes with my experience over the past few weeks. Mrs Flynn and I have started viewing houses in the West Country: the asking prices are so far from my view of "fair value" (based on LR figures) that I am discouraged from making an offer as I don't want to be viewed as a "time waster" by the agents. In my view, it is the buyers who in some cases are time wasting by asking for a figure so divorced from reality. Some of them are allegedly really desperate to sell too (death debt divorce etc) but this is never reflected in the price.

Roll on an interest rate rise ( 2017??) to focus minds.

Did you not mean that the seller are time wasters asking to much?

We just bought a house in Somerset and yes the asking prices are very optimistic...but we put very low offers in and got one house down from 375k to 355k and one house which needed a lot of upgrading was first on for 370k then 360k since last summer, we did offer 310k which was rejected but it got hinted that something in the 330k would be acceptable...

Since the house was already empty for the last couple of month and we are in the best position ( northing to sell, 50% deposit, mortgage arranged) we did walked away. A couple of weeks later it went to 349,950 so we put one last offer of 320k in and it got accepted...

We never had the impression that we were regarded as time waster...I got told that I'm maybe a bit fussy.

We told them our situation..and that we need to move within the next 3 month and we were on the top of the list with everything suitable coming in, getting the mails before the property was on the net.

I will never understand the fear of people making low offers, especially in this marked, EAs are already calculating this in when making the asking price.

The trick is..and I'm a women.., not to get emotional attached to any property you view. Me and hubby always had the view that we could take it or leave it.

At every viewing I picked up all the faulty things...never giving away if we liked it or not. Then went home and thought it all through, looked at sold prices in the area and then thought what we would pay for it and then went a lot lower then that for an offer.

We always pointed out our situation and made clear that it should be worth something.

I'm always laughing when I hear Phil and Christy saying that they got a WOOPING 5 or 10 grand off...pffffffffffffffff

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Did you not mean that the seller are time wasters asking to much?

You're right I meant to say " In my view, it is the sellers who in some cases are time wasting by asking for a figure so divorced from reality."

Well done on your house hunt Mrs Monopoly, hope you have many happy years there.

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I could be brazen and ask the estate agent "are the sellers desperate?" but maybe I need to to be more subtle :)

What's the best way to steer a conversation and eek out from an estate agent the status of the owner of the house is and how keen they are to sell.

By status I mean are the sellers retired and want to sell and buy something smaller or are they in a chain and trying to move up.

A few weeks ago we went to see a cottage that at the time had been dropped in price by £45K. We were in the house not 30s and the estate agent said "they are desperate to sell" which was a strong clue as to what are tactic would be in negotiation. As it is it still wasn't worth what they were asking but it was interesting to hear an estate agent say that.

So if any of you seasoned negotiators can offer any advice it would be much appreciated.

I'm finding that 'desperate sellers' still in no way effect the prices the seller will consider. I've just put in offers for 2 local properties, with sellers 'desperate'. EA's said they'd had lots of interest. I asked if they'd have any offers, the answer came back 'no offers' for both. I was flabergasted to find that both there properties had been on the market for a year or so, no offers and no asking price adjustment.

I'm v frustrated by the sellers round here. They just won't budge. They're not moving and I'm not moving. One EA was relatively sympathetic, she can't get the seller to readjust the asking price or expectation after 16 months on the market and no offers. Lots of time being wasted.

I fear I may pay more that I aught just so I can get on with my life.....

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  • 284 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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