House buying

Author
Discussion

p1stonhead

25,545 posts

167 months

Monday 27th February 2017
quotequote all
TheAngryDog said:
house viewed. Very interested.

Agent has advised us to offer £25k under asking price.
laugh cheeky fker I wonder if their client knows that!

kingston12

5,481 posts

157 months

Monday 27th February 2017
quotequote all
p1stonhead said:
laugh cheeky fker I wonder if their client knows that!
They probably do. I spoke to an agent the other week enquiring about the price of a house that I had seen one of their for sale boards outside but was not yet on the web.

She told me the price, but then immediately said 'but they are very much open to offers'. The house was only put on the market that day and the asking price was no more optimistic than any of the others already on...


Edited by kingston12 on Monday 27th February 14:54

yajeed

4,892 posts

254 months

Monday 27th February 2017
quotequote all
p1stonhead said:
laugh cheeky fker I wonder if their client knows that!
Well, it's 25k off 350k, so what, 7% off?

I'd expect a counter-offer at that.


TheAngryDog

Original Poster:

12,406 posts

209 months

Monday 27th February 2017
quotequote all
So the game has started

325k offered, politely declined. Countered with 340k, agent told them they won't get that. Agent was told not to lose us.

330k offered, they are going to think about it over night.

yajeed

4,892 posts

254 months

Monday 27th February 2017
quotequote all
TheAngryDog said:
So the game has started

325k offered, politely declined. Countered with 340k, agent told them they won't get that. Agent was told not to lose us.

330k offered, they are going to think about it over night.
The question is whether you'll accept their 335k counter in the morning.

TheAngryDog

Original Poster:

12,406 posts

209 months

Monday 27th February 2017
quotequote all
yajeed said:
TheAngryDog said:
So the game has started

325k offered, politely declined. Countered with 340k, agent told them they won't get that. Agent was told not to lose us.

330k offered, they are going to think about it over night.
The question is whether you'll accept their 335k counter in the morning.
Simple answer is yes. Ms Tad and i have discussed it and that is our ceiling. Half tempted to counter with £332500, but I'm not sure I want to lose it over £2.5k

p1stonhead

25,545 posts

167 months

Monday 27th February 2017
quotequote all
TheAngryDog said:
yajeed said:
TheAngryDog said:
So the game has started

325k offered, politely declined. Countered with 340k, agent told them they won't get that. Agent was told not to lose us.

330k offered, they are going to think about it over night.
The question is whether you'll accept their 335k counter in the morning.
Simple answer is yes. Ms Tad and i have discussed it and that is our ceiling. Half tempted to counter with £332500, but I'm not sure I want to lose it over £2.5k
Depends on how much you want it. I nearly lost a house of similar value over a £5k argument. I was being stubborn but really wanted it. In the end we met in the middle but once in I thought 'fk me that was stupid I would happily have paid £20k to get this place'.

TheAngryDog

Original Poster:

12,406 posts

209 months

Monday 27th February 2017
quotequote all
p1stonhead said:
TheAngryDog said:
yajeed said:
TheAngryDog said:
So the game has started

325k offered, politely declined. Countered with 340k, agent told them they won't get that. Agent was told not to lose us.

330k offered, they are going to think about it over night.
The question is whether you'll accept their 335k counter in the morning.
Simple answer is yes. Ms Tad and i have discussed it and that is our ceiling. Half tempted to counter with £332500, but I'm not sure I want to lose it over £2.5k
Depends on how much you want it. I nearly lost a house of similar value over a £5k argument. I was being stubborn but really wanted it. In the end we met in the middle but once in I thought 'fk me that was stupid I would happily have paid £20k to get this place'.
I'm happy to pay 335k if that's their counter. I aren't prepared to lose it over a few grand.

derin100

5,214 posts

243 months

Monday 27th February 2017
quotequote all
TheAngryDog said:
So the game has started

325k offered, politely declined. Countered with 340k, agent told them they won't get that. Agent was told not to lose us.

330k offered, they are going to think about it over night.
Means...they'd take that.

Remember the value of you not being part of a chain. That's hugely potentially valuable in itself to your vendor.

We were selling our house recently. The desire of our purchasers was to be in by Xmas. On the Monday before Xmas someone further back down the chain simply decided "she no longer wanted to sell her house"...and the whole chain collapsed scuppering 5 other parties' plans.

It annoyed me so much that I ended up buying our buyer's house to complete the deal with no chain involved. The fact that I now have to sell their house myself which is located 145 miles away in an area where I have no need of the house demonstrates just how valuable your position potentially is.

yajeed

4,892 posts

254 months

Monday 27th February 2017
quotequote all
derin100 said:
Means...they'd take that.

Remember the value of you not being part of a chain. That's hugely potentially valuable in itself to your vendor.

We were selling our house recently. The desire of our purchasers was to be in by Xmas. On the Monday before Xmas someone further back down the chain simply decided "she no longer wanted to sell her house"...and the whole chain collapsed scuppering 5 other parties' plans.

It annoyed me so much that I ended up buying our buyer's house to complete the deal with no chain involved. The fact that I now have to sell their house myself which is located 145 miles away in an area where I have no need of the house demonstrates just how valuable your position potentially is.
For me it means - we'll take it, based on some external criteria being met.

That may be, 'in a week' or 'if we can get the house we want with the same discount' or 'assuming nobody else comes along and offers more, based on the estate agent going back to other potential buyers' or 'it's close enough for me, but depends what my other half thinks'.

jjlynn27

7,935 posts

109 months

Monday 27th February 2017
quotequote all
Good luck, you must be very excited. Buying first property is awesome, imo.

As others have said to most sellers no-chain is a huge advantage. What I'd stipulate if you agree on 335 is for the house to be taken off the market immediately.

TheAngryDog

Original Poster:

12,406 posts

209 months

Monday 27th February 2017
quotequote all
I have bought a house before but that was in 2003 and my offer was accepted on the spot by the vendor.

Things seem a little different now.

I will be ensuring that the house comes off the market. They have viewings lined up on Thursday and Saturday which I want cancelled. If they do not do that then I will withdraw my offer. I have made it very clear that we are ftb and are able to move in as soon as the paperwork is done. The vendors are happy to be moved out by a certain date that we have requested due to our tenancy ending.

I have to say, the agent has been good to us from what I am aware of. Hasnt bullstted me and was very honest and open when I asked questions and even answered questions I didn't ask. Refreshing.

QuickQuack

2,196 posts

101 months

Monday 27th February 2017
quotequote all
Well, we bought our house in 2010, about 4 or 5 months after it went on the market, for 17.5% below the original asking price. Our initial offer was even lower. Make of that what you will, but if the vendor is realistic, they may take, or at least negotiate, a much lower price than you think.

paulwirral

3,133 posts

135 months

Monday 27th February 2017
quotequote all
TheAngryDog said:
Simple answer is yes. Ms Tad and i have discussed it and that is our ceiling. Half tempted to counter with £332500, but I'm not sure I want to lose it over £2.5k
May be worth going in at your counter with a sob story saying that's about all you can afford , you love the house but your at your limits but you can proceed now , if they are thinking about it they'll usually think a bit longer , your saying you'll pay £335 worst case , they are probably saying they'll take £332500 worst case for a quick sale , and the agent will be able to smell their commission by now , it's probably already chalked up on the monthly target board by now , usually found in the managers office if you want to check !

QuickQuack

2,196 posts

101 months

Monday 27th February 2017
quotequote all
Hmmm, for some bizarre reason my phone didn't show me the last few posts before mine so I hadn't seen the offers and the counter offer. Thinking about it overnight sounds to me like they'll take it. Here's to hoping smile

TheAngryDog

Original Poster:

12,406 posts

209 months

Tuesday 28th February 2017
quotequote all
QuickQuack said:
Hmmm, for some bizarre reason my phone didn't show me the last few posts before mine so I hadn't seen the offers and the counter offer. Thinking about it overnight sounds to me like they'll take it. Here's to hoping smile
Cheers! Could do with some good news, 2017 has been full of nothing but 95% bad news.

TheAngryDog

Original Poster:

12,406 posts

209 months

Tuesday 28th February 2017
quotequote all
paulwirral said:
TheAngryDog said:
Simple answer is yes. Ms Tad and i have discussed it and that is our ceiling. Half tempted to counter with £332500, but I'm not sure I want to lose it over £2.5k
May be worth going in at your counter with a sob story saying that's about all you can afford , you love the house but your at your limits but you can proceed now , if they are thinking about it they'll usually think a bit longer , your saying you'll pay £335 worst case , they are probably saying they'll take £332500 worst case for a quick sale , and the agent will be able to smell their commission by now , it's probably already chalked up on the monthly target board by now , usually found in the managers office if you want to check !
We are negotiating with the sales manager lol. I have a proper sob story anyway so let's see how it goes. I expect I'll hear around 11am

TheAngryDog

Original Poster:

12,406 posts

209 months

Tuesday 28th February 2017
quotequote all
Accepted at 335k

hornetrider

63,161 posts

205 months

Tuesday 28th February 2017
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yajeed said:
The question is whether you'll accept their 335k counter in the morning.
hehe

dionbee93

227 posts

89 months

Tuesday 28th February 2017
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Congratulations!!

Dion