Estate agent and Vendor trying it on....

Estate agent and Vendor trying it on....

Author
Discussion

thebraketester

Original Poster:

14,259 posts

139 months

Thursday 12th January 2017
quotequote all
Borroxs said:
Perhaps their target property has raised their price and they are trying to pass it down.
No chains involved here. SIL is first time buyer, and there is no upper chain.

FrankAbagnale

1,702 posts

113 months

Thursday 12th January 2017
quotequote all
thebraketester said:
It has been ( i think) taken off rightmove.

From what I can gather, zoopla does read low for the area, by about 25-30K compared to what houses are being listed for. I think this one is at 291 on zoopla.
Ah OK, I have sent the link of the house I am referencing via PM

Edited by FrankAbagnale on Thursday 12th January 17:59

thebraketester

Original Poster:

14,259 posts

139 months

Thursday 12th January 2017
quotequote all
FrankAbagnale said:
thebraketester said:
It has been ( i think) taken off rightmove.

From what I can gather, zoopla does read low for the area, by about 25-30K compared to what houses are being listed for. I think this one is at 291 on zoopla.
Ah OK, i'll send you the link of the house I am referencing via PM.
Yep.. thats the one.

FrankAbagnale

1,702 posts

113 months

Thursday 12th January 2017
quotequote all
thebraketester said:
FrankAbagnale said:
thebraketester said:
It has been ( i think) taken off rightmove.

From what I can gather, zoopla does read low for the area, by about 25-30K compared to what houses are being listed for. I think this one is at 291 on zoopla.
Ah OK, i'll send you the link of the house I am referencing via PM.
Yep.. thats the one.
Ha, OK. I think it's too much money. Up there with the 3 beds, even end of terraces and has seen a 30% rise in 2 years with very little improvement.

Maybe the area has seen very strong growth recently, it's not my patch.

wolf1

3,081 posts

251 months

Thursday 12th January 2017
quotequote all
Play them at their own game. The day contracts are about to be exchanged and they have more than likely committed to their own new purchase drop your offer by 10k.

thebraketester

Original Poster:

14,259 posts

139 months

Thursday 12th January 2017
quotequote all
The problem is that a lot of the houses in that price bracket are maybe 3 beds but in rough areas. Ok. ok. ok... I know we are talking Hemel here, but there is Hemel... and there is Hemel.

Prices do seem to have bumped up a lot here. For example. We bought 5 years ago. 2 bed end terrace and paid 175k.

Alucidnation

16,810 posts

171 months

Thursday 12th January 2017
quotequote all
I would tell them to accept the other offer, then see what happens.

If they do, there will be plenty more coming on the market

thebraketester

Original Poster:

14,259 posts

139 months

Thursday 12th January 2017
quotequote all
Apparently the Vendor "Got [their] sums wrong"

i.e.... they had an attack of greed.

JDiz

1,070 posts

245 months

Thursday 12th January 2017
quotequote all
wolf1 said:
Play them at their own game. The day contracts are about to be exchanged and they have more than likely committed to their own new purchase drop your offer by 10k.
exactly this, fk em they can't be trusted.

V8RX7

26,919 posts

264 months

Thursday 12th January 2017
quotequote all
wolf1 said:
Play them at their own game. The day contracts are about to be exchanged and they have more than likely committed to their own new purchase drop your offer by 10k.
^^^This

But I'd only drop it back to the originally agreed price.

Sir Bagalot

6,489 posts

182 months

Thursday 12th January 2017
quotequote all
Your SIL needs to do a bit of research on the property market. A 2 bedder is Hemel isn't worth £310K. Even if it does have a nice new kitchen. She is over paying for it. Look at prices around it... they're 3 bedders.

But she won't listen and 5 years down the line she'll moan she overpaid for ityes

thebraketester

Original Poster:

14,259 posts

139 months

Thursday 12th January 2017
quotequote all
Sir Bagalot said:
Your SIL needs to do a bit of research on the property market. A 2 bedder is Hemel isn't worth £310K. Even if it does have a nice new kitchen. She is over paying for it. Look at prices around it... they're 3 bedders.

But she won't listen and 5 years down the line she'll moan she overpaid for ityes
Yes you can get a 3 bed, that is in a less desirable area. Ideally it would be nice for her to have another 10-15K as that opens up a lot more properties, but the fear is if she waits then the prices go up

Edited by thebraketester on Thursday 12th January 20:15

Wacky Racer

38,211 posts

248 months

Thursday 12th January 2017
quotequote all
£5,000 is a hell of a lot of money and takes some earning...(Unless you are a premiership footballer or a fully paid up heavily built PH director with a goatee).......

Tell her to hold firm.

Sir Bagalot

6,489 posts

182 months

Thursday 12th January 2017
quotequote all
thebraketester said:
Sir Bagalot said:
Your SIL needs to do a bit of research on the property market. A 2 bedder is Hemel isn't worth £310K. Even if it does have a nice new kitchen. She is over paying for it. Look at prices around it... they're 3 bedders.

But she won't listen and 5 years down the line she'll moan she overpaid for ityes
Yes you can get a 3 bed, that is in a less desirable area. Ideally it would be nice for her to have another 10-15K as that opens up a lot more properties, but the fear is if she waits then the prices go up

Edited by thebraketester on Thursday 12th January 20:15
IMHO, and it is only that, prices won't be doing much for the next year or two

eliot

11,451 posts

255 months

Thursday 12th January 2017
quotequote all
Sir Bagalot said:
IMHO, and it is only that, prices won't be doing much for the next year or two
Indeed - market is going to be pretty flat i reckon. I think the days of rampant price rises are over until we get some more confidence and stability.

HarryW

15,156 posts

270 months

Thursday 12th January 2017
quotequote all
Had a similar thing happen to us over 10 years ago, we had an offer accepted.. everything going through, booked and paid for the surveys and searches etc. We went on holiday and came back to find the vendor wanted another £10k, didn't respond just found another property, fk em. They spent the next 6 months finding another buyer.
As said, if they mess you around it won't get better, fkem, buy someone else's place that wants to sell.

ThunderGuts

12,230 posts

195 months

Thursday 12th January 2017
quotequote all
When we bought last, we were having a chat with the sellers during a 2nd viewing and said we'd be putting an offer in and I did nicely say I was a bit 'traditional' and if there were any games we would just walk.




MOBB

3,623 posts

128 months

Thursday 12th January 2017
quotequote all
Personally I wouldn't want to deal with a vendor like that, what else might they do nearer exchange?

dandam

227 posts

153 months

Thursday 12th January 2017
quotequote all
We were buying a house 4 years ago, 5 weeks into the process the sellers wanted another £4.5k after they discovered that they had a redemption penalty to pay (in effect they wanted us to pay it). So we decided to look around again the next day and found another bigger and modernised house had just come onto the market a couple of days before 1 street away, looked at it, loved it, made an offer which was accepted - so all in all really grateful to the greedy sellers as we love where we eventually bought.

Great conclusion was that I know who eventually bought the first house, two months later and for only £500 more than we were paying. Considering that the couple were splitting up that meant £250 each for 8 weeks more of rows.

RobDickinson

31,343 posts

255 months

Thursday 12th January 2017
quotequote all
The UK way of doing this needs nuking from orbit.

Far better system here. Offers are contractual ( with conditions).