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dangermaus

stubborn seller "offers over"

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After five years abroad we're moving back to the UK, and are in a position to purchase for cash (first time buyers, woohoo)

There's a house in Lancashire on for "offers over" 210k, it's been on the market for a year, and our friend who viewed it said the seller seemed eager to sell, but in the whole year has only reduced the price by 5k. The vendor told our friend that she was open to "any reasonable offer"

We came in with an offer of 180k, which was rejected (we expected that first rejection) so we offered 189, thinking 10% was "reasonable" but she has rejected that too.

Should we wait longer for our final offer?

I was thinking of offering 195 this time, and reminding them we're cash buyers, and that the house has been for sale for "offers over 210" for a year without selling. Our budget is 200k, but I'm getting the feeling this lady is convinced offers should be over 210k, and considering it's been on the market for a year that is clearly over priced. Two other houses we've liked have sold in the two weeks since we first found them online for similar prices.

What do you guys think? wait a week for our final offer? offer it now and remind them we can pay cash immediately and they haven't sold in a year?

 

I don't understand the "offers over" idea, if they want 220, they should bloody ask for it, not 210 "offers over" what a ridiculous concept.

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I'd ask for a counter offer. Seems she is in no hurry though.

 

See if the Agent is interested in getting a sale through and some commission perhaps??

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Unless the seller has to sell right now then there is no reason for her to accept your offer or any offer. She could be kite-flying.

I've seen houses on the market close to me, where anything reasonable has gone under offer quite quickly until this year, sit on the market at a silly price, disappear and come back on again a year later. The sellers may have a plan in mind but this will only be released when something perfect comes along. A buyer who will pay a ridiculous price and on the sellers terms only. 

One house we had an interest in had an elderly resident trying to find somewhere to move to closer to family. He was happy to sit with his house on the market for a year until he found exactly what he was after. He expected close to asking price and for the buyer to wait and wait.

Also, the seller may not be taking your offers seriously as you are abroad. She may be one of those seller who wants the "perfect buyer".

You are training her to expect higher offers after a low one. She may think she can sit and wait for you to keep offering more. If she seriously wanted to sell it to you the agent would be coming back to tell you the price.

You need to find out more about the sellers situation maybe?

 

Edited by Flopsy

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Have been dicked about like this in the none-too-recent past, and had ages wasted by folk who appeared to have no desire whatsoever to actually sell the house (after three offers when not a single phone call was returned I got pretty seriously fed up with chasing them).

Maybe tell the EA that you're now very interested in another house.

With another agent.

Edited by Shrink Proof

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We offered 195, explained why we thought it was reasonable with similar houses selling around that recently etc.

If she says no we'll walk away, can't be arsed dealing with her already.

 

Have another viewing today for 155, only major difference is a much smaller garden and a bit of a rubbish kitchen, which could easily be sorted and keep well under budget. It's just a matter of convincing the wife!

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I was in a similar position and left my final offer "on the table".  The agent came back to me after a fortnight saying the seller was interested after all.  By this time I had more or less discounted that property (in my mind and forgotten about it) but we have now agreed a sale which was at that price. 

Sometimes it pays to wait:)

Also I would definitely ignore "offers over".

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On 4/30/2017 at 9:18 AM, dangermaus said:

Offer accepted on the 155k house, I hope the 195 lady changes her mind and comes back so we can say nahhh

Anything happened @dangermaus?

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On 27/04/2017 at 3:54 AM, dangermaus said:

After five years abroad we're moving back to the UK, and are in a position to purchase for cash (first time buyers, woohoo)

There's a house in Lancashire on for "offers over" 210k, it's been on the market for a year, and our friend who viewed it said the seller seemed eager to sell, but in the whole year has only reduced the price by 5k. The vendor told our friend that she was open to "any reasonable offer"

We came in with an offer of 180k, which was rejected (we expected that first rejection) so we offered 189, thinking 10% was "reasonable" but she has rejected that too.

Should we wait longer for our final offer?

I was thinking of offering 195 this time, and reminding them we're cash buyers, and that the house has been for sale for "offers over 210" for a year without selling. Our budget is 200k, but I'm getting the feeling this lady is convinced offers should be over 210k, and considering it's been on the market for a year that is clearly over priced. Two other houses we've liked have sold in the two weeks since we first found them online for similar prices.

What do you guys think? wait a week for our final offer? offer it now and remind them we can pay cash immediately and they haven't sold in a year?

 

I don't understand the "offers over" idea, if they want 220, they should bloody ask for it, not 210 "offers over" what a ridiculous concept.

Cut the middleman, stick with your first offer 180k and wait.

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On 5/13/2017 at 9:28 PM, Flopsy said:

Anything happened @dangermaus?

Nah we didn't hear from the other lady, but we went through the same estate agent to buy the other house so even if she changed her mind theyd know we're already in the middle of buying another one and would probably inform her.

 

We've had a homebuyers survey (pointless) and now my solicitor is doing the conveyancing/searches whatever that actually means, hopefully complete pretty soon

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