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anonguest

Advice Wanted For 'confronting' House Sellers At Viewing

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Going to view a house day after next.

Last sold almost exactly 3 years ago to the week at £280K. BUT asking price today is £320K.

Initial enquiries with EA reveal that improvements to the house (e.g modest ground floor extension) were done prior and that, effectively, present owners have done nothing to add value to the property in last 3 years. They may have given the interior rooms a lick of paint or put down new flooring? But havent done tens of thousands of pounds worth of value enhancing work.

Also, if same as previous viewing of other property in same area, I suspect the agent attending will be the same spotty faced twentysomething without a clue!

I suspect I will like the property and would want it, but.... need to know how to go about dealing with bare faced optimism (greed?) of the current sellers.

Am very tempted to break civil English behavioural conventions and, if sellers are present during the showing, 'confront them' (albeit politely) and ask them to justify the £40K price increase in just 3 years - nevermind the deteriorating wider economic situation and hence reduced prospects for selling at yesterdays prices, etc etc.

Perhaps something along the lines of, with quizzical look, "But.... is it correct that you paid only £280K almost exactly 3 years ago?....."

Perhaps they may even be shocked that a prospective buyer has even been able to look up what they paid for the place!? Certainly the EA over the phone gave a slight indication in his voice when I pointed out this price issue to him.

On plus side? House has only been on market very short time, so this may be an opportunity to 'pop their little bubble' vis a vis what they think it should sell for.

Edited by anonguest

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make sure you get a hidden camera and record their reaction

you'll need to address these questions to the EA as well. They may well be marketing at the stupid price but that doesn't always mean it's their valuation.

Edited by SaintJay

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wrong%2Bmove.jpg

They probably want free cruises. Refer to home No.3. Anyway we're a house buying nation. It's in our psyche, it's in our blood!

Just think, you'll be able to sell in 3 years for £450K! <_<

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make sure you get a hidden camera and record their reaction

Yeah yeah very droll. But seriously, it's not exactly the done thing to discuss point blank with the sellers what they paid for the place (or is it?!).

Do it badly and you'll p*ss them off so that they wont sell to you at any price?!

Just thinking out loud here..... what words to use.

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The vendors can ask whatever they like - what has the previous sale price got to do with it? If someone likes it enough to pay 320k then it will sell for 320k - if not they'll either not sell, or have to drop the price. Hell, you never know - if more than one person/couple likes it it may even sell above asking - unlikely but still possible.

Seriously - if you came to my house and ask me how I justify the asking price & 40k increase in 3 years I'd hoof you out the door as a p*ss taker (albeit politely <_< )

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Yeah yeah very droll. But seriously, it's not exactly the done thing to discuss point blank with the sellers what they paid for the place (or is it?!).

Do it badly and you'll p*ss them off so that they wont sell to you at any price?!

Just thinking out loud here..... what words to use.

see my edit above

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Going to view a house day after next.

Last sold almost exactly 3 years ago to the week at £280K. BUT asking price today is £320K.

Initial enquiries with EA reveal that improvements to the house (e.g modest ground floor extension) were done prior and that, effectively, present owners have done nothing to add value to the property in last 3 years. They may have given the interior rooms a lick of paint or put down new flooring? But havent done tens of thousands of pounds worth of value enhancing work.

Also, if same as previous viewing of other property in same area, I suspect the agent attending will be the same spotty faced twentysomething without a clue!

I suspect I will like the property and would want it, but.... need to know how to go about dealing with bare faced optimism (greed?) of the current sellers.

Am very tempted to break civil English behavioural conventions and, if sellers are present during the showing, 'confront them' (albeit politely) and ask them to justify the £40K price increase in just 3 years - nevermind the deteriorating wider economic situation and hence reduced prospects for selling at yesterdays prices, etc etc.

Perhaps something along the lines of, with quizzical look, "But.... is it correct that you paid only £280K almost exactly 3 years ago?....."

Perhaps they may even be shocked that a prospective buyer has even been able to look up what they paid for the place!? Certainly the EA over the phone gave a slight indication in his voice when I pointed out this price issue to him.

On plus side? House has only been on market very short time, so this may be an opportunity to 'pop their little bubble' vis a vis what they think it should sell for.

do it without the slightest hint of embarrassment, if it's not normal it should be.

If I was selling a house and asking more than I'd paid I would have a reason in my head why I expected to get that much, whether it was 'the market has risen round here' or 'I was lucky to get a bargain, it was worth more than I paid.' I wouldn't feel wrong-footed by such a question because I would have already justified it to myself. No-one thinks they're asking a particular price because they're greedy even if that is actually the case.

and it might be handy to know where they're coming from on this one as it'll give you a clue as to what to say when you offer less.

the main thing is to do it in a friendly way and not an aggressive one.

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Just casually drop the question to them "Can you show me the £40k improvements to the house?" It shows you know without being blatent about it. :D

Good one. Agreed not too balatant. I like that. Will think about it......

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On plus side? House has only been on market very short time, so this may be an opportunity to 'pop their little bubble' vis a vis what they think it should sell for.

By virtue that you are going to see the house means that you're interested in it. You cannot confront someone regarding what they paid for it. Perhaps they bought well? They quite clearly want offers above 300K and perhaps they will get it? If the house doesn't sell you need to wait for the price drops. Your best chance for a deal is when a sale falls through and the vendor has found a dream property to buy. If I was desperate to buy it I'd make an offer of 300K. It's enough to be taken seriously. Personally I look at the British economy and wouldn't buy any property at this point in time. It doesn't represent good value.

As other posters have said they will ignore you completely if you are rude. You're better off complimenting them on their house and forming a good relationship.

Edited by Xurbia

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Perhaps something along the lines of, with quizzical look, "But.... is it correct that you paid only £280K almost exactly 3 years ago?....."

I prefer the more pointed "is it correct you paid £280k at the PEAK of the market ?"

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Perhaps they bought well?

Doesnt seem likely as, given it was bought around/just after the peak, the price paid recorded is indeed the highest in that street.

A neighbouring property few doors along went STC just recently with asking price of £270K. Yet these sellers think theirs is now worth £320K!

It could be on the market A LONG TIME...........

Edited by anonguest

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The vendors can ask whatever they like - what has the previous sale price got to do with it? If someone likes it enough to pay 320k then it will sell for 320k - if not they'll either not sell, or have to drop the price. Hell, you never know - if more than one person/couple likes it it may even sell above asking - unlikely but still possible.

Seriously - if you came to my house and ask me how I justify the asking price & 40k increase in 3 years I'd hoof you out the door as a p*ss taker (albeit politely <_< )

Yes. If they think they can find someone with access to QE money (direct or indirect), it's just unlucky for those who don't.

PS dunno if 'unlucky' is the right word tho.

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You're better off complimenting them on their house and forming a good relationship.

Agreed. Important to praise the house (if I end up liking it) and massage their egos to some extent. BUT the price issue still has to be confronted.

Do they take it sugar coated or right between the eyes?

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don't think of it as 'confronting', think of it as making pleasant conversation on everyone's favourite topic, the price of their house.

ROFLMAO

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What they paid for it is irrelevent. It's how much you think it's worth that matters. By viewing the house you'll have seen whatever it is that they think makes it worth what they're asking and you demonstrate your view on that with your feet (or a lower offer). I'm not interested in what they've done to it and how much it cost them, only what's there now and how much they're asking for that. The only interest in the history of the place is if you suspect they may have done something damaging to it that'll give you problems down the line.

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Don't.

Get a mate to go for a viewing and to ask all those awkward questions and/or to make a slightly offensive low offer. Chances are you'll learn something, for example their negotiating skills, but at no risk of playing your cards too early nor of alienating the vendor from yourself.

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Don't.

Get a mate to go for a viewing and to ask all those awkward questions and/or to make a slightly offensive low offer. Chances are you'll learn something, for example their negotiating skills, but at no risk of playing your cards too early nor of alienating the vendor from yourself.

do people actually do that? I mean, I can see the point, but is it really something people do?

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I think you are wasting your time. 280k at peak and now on for 320k. You don`t sound like you value the property anywhere near the inflated price and therefore will never reach agreement with the seller at a price that works for you. This is the same story in most streets in all towns throughout the uk.

Why look for a fight?

Go to the pub instead. :D

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Doesnt seem likely as, given it was bought around/just after the peak, the price paid recorded is indeed the highest in that street.

A neighbouring property few doors along went STC just recently with asking price of £270K. Yet these sellers think theirs is now worth £320K!

It could be on the market A LONG TIME...........

Well, there you go. All you need to say is "nice house, but next door went for less than £270k and I'm willing to off £x". No need to be confrontational or rude. Just try to do a deal if you're interested, at a price you want.

A friend of mine is relocating and had his house on the market but general feedback was it's a bit expensive. So he did actually reduce the price and he didn't take exception to it. Believe he has a couple of offers now.

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do people actually do that? I mean, I can see the point, but is it really something people do?

not normally, its easier to do it yourself to get a full psychological profiling and then go back a couple of weeks later with a fake nose and tache

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What they paid for it is irrelevent. It's how much you think it's worth that matters. By viewing the house you'll have seen whatever it is that they think makes it worth what they're asking and you demonstrate your view on that with your feet (or a lower offer). I'm not interested in what they've done to it and how much it cost them, only what's there now and how much they're asking for that. The only interest in the history of the place is if you suspect they may have done something damaging to it that'll give you problems down the line.

So when you buy a second hand car you're not interested at all in the service history, number of owners, when the tyres were last changed, etc? only what the car looks and drives like now?

Edited by anonguest

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Well, there you go. All you need to say is "nice house, but next door went for less than £270k and I'm willing to off £x". No need to be confrontational or rude. Just try to do a deal if you're interested, at a price you want.

A friend of mine is relocating and had his house on the market but general feedback was it's a bit expensive. So he did actually reduce the price and he didn't take exception to it. Believe he has a couple of offers now.

Bang on... I think some people think that houses are some sacred cow. If you think its over priced, then ask why its on at £x vs £y. Its called being a good buyer, if they get offended then they need to get a grip. Its a house, they are selling, you are buying a deal is there to be done.

Edited by FIGGY

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I think you are wasting your time. 280k at peak and now on for 320k. You don`t sound like you value the property anywhere near the inflated price and therefore will never reach agreement with the seller at a price that works for you. This is the same story in most streets in all towns throughout the uk.

Why look for a fight?

Go to the pub instead. :D

Cos I think I might actually like it/want it - and will be prepared to wait and watch a while until (if?) the price comes down to realistic levels.

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  • 311 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% +
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      • Even
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      • up 5%



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