Houses

[FoyleFox]

9 hours ago, newfox1 said:

Hi all. Been a week since I offered for a house, on the market for 6+weeks, asking 230, I offered a very reasonable 210k considering houses in the area have gone for this much.

 

Should I follow up, email etc, reluctantly offer more? Would love your thoughts as always. 

I would certainly be asking the agent for a response. It's not unreasonable to expect an update after a week. Any further viewings, offers or a counter offer from the seller etc

[RonnieTodger]

20 hours ago, Leicester_Loyal said:

Mortgage valuation tomorrow, dreading it Kept a few grand spare just incase it's less than what I'm paying, although my folks said they'd give me some if it's needed.

Hope it goes well mate, you've had a bastard of a journey

[Unabomber]

10 hours ago, newfox1 said:

Hi all. Been a week since I offered for a house, on the market for 6+weeks, asking 230, I offered a very reasonable 210k considering houses in the area have gone for this much.

 

Should I follow up, email etc, reluctantly offer more? Would love your thoughts as always. 

So in a week you haven’t had any feedback on your offer? You don’t even know if it has been rejected? If so that is shocking from the agents. 

[newfox1]

16 minutes ago, Unabomber said:

So in a week you haven’t had any feedback on your offer? You don’t even know if it has been rejected? If so that is shocking from the agents. 

Sorry, wasn't clear, agent called last week to say the elderly sellers insist on the asking price but my offer is the only one and it is very reasonable   agent and I agree on.

[Guest TamworthFoxes]

8 minutes ago, newfox1 said:

Sorry, wasn't clear, agent called last week to say the elderly sellers insist on the asking price but my offer is the only one and it is very reasonable   agent and I agree on.

It matters not if you and the agent think its a reasonable offer.  The elderly sellers own it and can sell it for what they want.

You have had your answer, its up to you to either offer more or move on.

Edited 31 March 2021 by TamworthFoxes

[Unabomber]

16 minutes ago, newfox1 said:

Sorry, wasn't clear, agent called last week to say the elderly sellers insist on the asking price but my offer is the only one and it is very reasonable   agent and I agree on.

Yeah well it is up to you then at the minute it is a sellers market and it seems most are going for at least the asking price. Like others have said decide if you would be happy to lose it for a few extra grand. If not then stick another offer in closer to where you need to be. 

[FoyleFox]

13 minutes ago, TamworthFoxes said:

It matters not if you and the agent think its a reasonable offer.  The lederly sellers own it and can sell it for what they want.

You have had your answer its up to you to either offer more or move on.

They can only sell it for what someone is willing to pay though. The agent thinks it's overpriced compared to others in the area and this is borne out by the recent sale prices of similar properties. The sellers are obviously entitled to list for whatever price they like, but it doesn't mean anyone is willing to pay it. The price we've accepted for ours is certainly not what we believe it's worth but was the best offer after 5 months.

 

Unfortunately for @newfox1 if they're not willing to recognise it's overpriced and negotiate, you're stuck. An increased offer would be a reasonable option. Do you want to miss out on this house for £5 or 10k, but you also need to decide if you love it enough to pay £230k. Additionally, it's worth bearing in mind that every month that passes prices are increasing, if you wait, will your £220k get the same house in 3 months?

Edited 31 March 2021 by FoyleFox

[Guest TamworthFoxes]

2 minutes ago, FoyleFox said:

They can only sell it for what someone is willing to pay though. The agent thinks it's overpriced compared to others in the area and this is borne out by the recent sale prices of similar properties. The sellers are obviously entitled to list for whatever price they like, but it doesn't mean anyone is willing to pay it. The price we've accepted for ours is certainly not what we believe it's worth but was the best offer after 5 months.

 

Unfortunately for @newfox1 if they're not willing to recognise it's overpriced and negotiate, you're stuck. An increased offer would be a reasonable option. Do you want to miss out on this house for £5 or 10k, but you also need to decide if you love it enough to pay £230k. Additionally, it's worth bearing in mind that every month that passes prices are increasing, if you wait, will your £220k get the same house in 3 months?

Yes I completley agree, the problem @newfox1has got is that the owners are free to ask for what they want and reject any offer they want.  If they are in no rush to move they can wait it out for as long as they like.

But in answer to his/her query there is no point asking the Estate agent for an update because he has had it, the offer was rejected.  Balls back in his/her court.

[Samilktray]

Had our first meeting with our mortgage advisor today, went really well so should be back in this thread in the next few months posting about how much of a ball ache this all is. 

[FoyleFox]

We've had our searches back. Who knew you could be so pleased to receive mining/drainage/flood reports for North West Leicestershire

 

Another step in the right direction. Uncertain how many more are required but hoping it's only a few to enable us to complete before June 30th!

[newfox1]

Thanks all the responses. Of course   sellers can ask what they'd like but it's based on demand and not only supply. 

 

Yes. May well have to  consider an increase in my offer now and then move on as suggested here. You're right, my money now may get less in a few months, as prices generally are not coming down...

 

Mind you, another decent property I viewed last month, an agent told me they had valued it too high and now the seller won't budge. Been on the market since November and no offers too. Certain areas sell like hotcakes, others less so it seems. 

Thanks again for the feedback. I feel I'm close yet so far! 

[VLC86]

4 hours ago, FoyleFox said:

We've had our searches back. Who knew you could be so pleased to receive mining/drainage/flood reports for North West Leicestershire

 

Another step in the right direction. Uncertain how many more are required but hoping it's only a few to enable us to complete before June 30th!

Didn’t realise you had finally found somewhere, nice one.

[Sly]

We’ve got a 2nd viewing!!

The excitement ......

 

Our agent proclaims they’re amazed we haven’t had more. This one has done more than the previous lot though. 

[FoyleFox]

2 hours ago, Sly said:

We’ve got a 2nd viewing!!

The excitement ......

 

Our agent proclaims they’re amazed we haven’t had more. This one has done more than the previous lot though. 

Marvellous  

Hardly difficult from what you've said. Not sure they could have done less than the last lot! 

[RonnieTodger]

Viewed our 20th house last night  

 

Mixture of bad luck and something to do on a weekend. We'd made offers on 3 of them, but will go for this one too.

[RonnieTodger]

4 hours ago, RonnieTodger said:

Viewed our 20th house last night  

 

Mixture of bad luck and something to do on a weekend. We'd made offers on 3 of them, but will go for this one too.

Offer accepted! Hopefully goes smoother than last time.

[Ashley]

2 hours ago, RonnieTodger said:

Offer accepted! Hopefully goes smoother than last time.

Gewon lad

[Sly]

11 hours ago, FoyleFox said:

Marvellous  

Hardly difficult from what you've said. Not sure they could have done less than the last lot! 

They didn’t turn up! 
 

Selling this house is turning into a nightmare. 

[Nalis]

9 minutes ago, Sly said:

They didn’t turn up! 
 

Selling this house is turning into a nightmare. 

Sorry to hear that, how long have you had it on the market?

Edited 1 April 2021 by Nalis

[Wolfox]

7 minutes ago, Sly said:

They didn’t turn up! 
 

Selling this house is turning into a nightmare. 

It’ll come good…. My previous home was nice and in good nick…. Had to compete with brand new stuff being built all around me…. Took way too many viewings to shift it

 

stay patient 

[Sly]

18 minutes ago, Nalis said:

Sorry to hear that, how long have you had it on the market?

7 weeks.

[newfox1]

1 hour ago, Sly said:

7 weeks.

Out of interest, had any offers yet? As a seller, how much lower would you or would you insist on the current asking price?

 

I ask as I'm trying to get into the mindset of a seller when a home isn't shifting and reasonable offers are made. Currently looking for my first too but not selling at the mo. 

 

Bet it's a headache too.

 

 

[newfox1]

6 hours ago, RonnieTodger said:

Offer accepted! Hopefully goes smoother than last time.

Congrats dude. Which of the 3 were accepted and what if all 3 got accepted too? Was there a lot of competition or bidding going on?

[spacemunky]

Just got the official word on the sale of my home.

 

Sold almost exactly $300,000(Canadian bucks) more than what I paid 8 years ago.

 

I'll take it and hopefully make something with it, while I return to rental life 

[Leicester_Loyal]

2 hours ago, Sly said:

They didn’t turn up! 
 

Selling this house is turning into a nightmare. 

 

2 hours ago, Sly said:

7 weeks.

I'd be thinking there's something wrong at this point, houses are selling like hotcakes.

 

It must be that the price is too high surely? Or the area isn't attractive to that many people?

 

Have you swapped estate agents? Is the property on RightMove? If you still aren't getting anywhere soon I'd drop the price by 5-10k and see how it goes.