Cheeky but realistic low offers on houses / cars
Discussion
popeyewhite said:
TwigtheWonderkid said:
popeyewhite said:
TwigtheWonderkid said:
He always had a choice. If Noodle had offered him £500 in cash for the house, the seller would obviously had said f
k off. Even when you are completely desperate to sell, there's always a price you won't go below. Ultimately, Noodle's lowest offer was still acceptable.
No, they had to take it for fear of it dropping further.k off. Even when you are completely desperate to sell, there's always a price you won't go below. Ultimately, Noodle's lowest offer was still acceptable. 
schmalex said:
Wow. What an unscrupulous little st you are.
The first time you tried something like that on anything you were buying from me, you would have been soundly told to fk off and excluded from any process going forward.
Luckily for Noodle, he tried it on with someone who was desperate to sell, so couldn't adopt your high horse approach. t you are. The first time you tried something like that on anything you were buying from me, you would have been soundly told to f
k off and excluded from any process going forward. When we bought our first house, i looked at the sold price for the area & offered a lower (but realistic offer) on the property.
It was up for OIEI £215k, i looked up at the sold prices, factored in the property was in good order & that nothing had sold for a few years on the road & offerd £190k.
I was laughed at, anyway, we upped it eventually to £200k (begrudgingly from my point, however we could afford the mortgage comfortable so it wasn't an issue & it was the best in budget place we'd seen in 6 months of searching etc),
Mortgage company subsequently down-valued the property to £185k, the EA argued it was worth more, i disagreed & had a frank conversation with the EA, told them i wasn't paying anymore than that & that they should have the difficult discussion with their vendors that they'd overvalued & it wasn't worth what they claimed.
They argued a bit more, i said it was a final offer & would be looking for another property.
The next morning my offer was accepted.
It was up for OIEI £215k, i looked up at the sold prices, factored in the property was in good order & that nothing had sold for a few years on the road & offerd £190k.
I was laughed at, anyway, we upped it eventually to £200k (begrudgingly from my point, however we could afford the mortgage comfortable so it wasn't an issue & it was the best in budget place we'd seen in 6 months of searching etc),
Mortgage company subsequently down-valued the property to £185k, the EA argued it was worth more, i disagreed & had a frank conversation with the EA, told them i wasn't paying anymore than that & that they should have the difficult discussion with their vendors that they'd overvalued & it wasn't worth what they claimed.
They argued a bit more, i said it was a final offer & would be looking for another property.
The next morning my offer was accepted.
TwigtheWonderkid said:
schmalex said:
Wow. What an unscrupulous little st you are.
The first time you tried something like that on anything you were buying from me, you would have been soundly told to fk off and excluded from any process going forward.
Luckily for Noodle, he tried it on with someone who was desperate to sell, so couldn't adopt your high horse approach. t you are. The first time you tried something like that on anything you were buying from me, you would have been soundly told to f
k off and excluded from any process going forward. k me around, I’m under no obligation to deal with themNoodle1982 said:
andymc said:
PositronicRay said:
Noodle1982 said:
The first house i bought was up for sale for 125k. Very little advertising of it and was in an area of very little foot traffic.Over the space of 3 months i made numerous offers, each one less than the one previously agreed.
I offered 115k. They accepted so i then offered 100k. They refused. A few weeks later when they hadnt had any other offers come in they agreed to the 100k, so i then offered them 90k. Fast forward a few weeks and same scenario so i then offered 80k
Long story short but i ended up getting it for 80k.
Numerous times i could see the estate agent on the verge of telling me to fk off every time i changed my offer but i knew the sellers wanted to get rid of the house as soon as possible and with them not having any other offers the metaphorical ball was in my court.
You sound a joy.
so you renegged your first offer?
I offered 115k. They accepted so i then offered 100k. They refused. A few weeks later when they hadnt had any other offers come in they agreed to the 100k, so i then offered them 90k. Fast forward a few weeks and same scenario so i then offered 80k
Long story short but i ended up getting it for 80k.
Numerous times i could see the estate agent on the verge of telling me to f
k off every time i changed my offer but i knew the sellers wanted to get rid of the house as soon as possible and with them not having any other offers the metaphorical ball was in my court. You sound a joy.
so you renegged your first offer?
I renegged my first, second, third and fourth offer.
At the time I wasn't actively searching for a house so if the seller or estate agent had told me where to go i wouldn't have lost any sleep over it.
k off and then do the deal themselves 
Schmed said:
In what situation would you pay over asking ? I'm guessing massively rising market / some kind of competitive bidding scenario ?
If 50k is 6% would make the house worth 833k then lol ? Either way must be in the South East
House was up for £225k, but went to best and final offers. We loved the house and the area, proximity to amenities etc. and couldn't find anything like it for sale in terms of character, and the fact that it's in the centre of town but tucked back, and is a house not a flat.If 50k is 6% would make the house worth 833k then lol ? Either way must be in the South East
Paid around £238k. Someone offered 240k I believe but we were in a better position, and they liked that we were first time buyers who loved the house, so they accepted out offer.
Oxfordshire, btw.
I also negotiate multi-million pound deals for a living. Blah blah, powerfully built, something about custard etc.
The bit schmalex seems to be forgetting (wilfully?) here is one of the first rules of buying & selling (which comes way before crossing into negotiation).
Rule 1. Is this (a) A one-off transaction or do you want to (b) forge an ongoing relationship?
If (a) drive for the very best deal you can get for yourself and sod everything else. a win-win in this situation probably means you haven't done your job properly.
If (b) Consider the other party's stance, set out a field of play and try to guess where the overlapping area of what is acceptable to both parties (zone of potential agreement/ZOPA) lies. It doesn't matter where in that zone your final agreement sits, it's still an acceptable outcome that works for both parties going forwards.
A house purchase is firmly in scenario a. Well done, noodle.
The bit schmalex seems to be forgetting (wilfully?) here is one of the first rules of buying & selling (which comes way before crossing into negotiation).
Rule 1. Is this (a) A one-off transaction or do you want to (b) forge an ongoing relationship?
If (a) drive for the very best deal you can get for yourself and sod everything else. a win-win in this situation probably means you haven't done your job properly.
If (b) Consider the other party's stance, set out a field of play and try to guess where the overlapping area of what is acceptable to both parties (zone of potential agreement/ZOPA) lies. It doesn't matter where in that zone your final agreement sits, it's still an acceptable outcome that works for both parties going forwards.
A house purchase is firmly in scenario a. Well done, noodle.
13aines said:
Schmed said:
In what situation would you pay over asking ? I'm guessing massively rising market / some kind of competitive bidding scenario ?
If 50k is 6% would make the house worth 833k then lol ? Either way must be in the South East
House was up for £225k, but went to best and final offers. We loved the house and the area, proximity to amenities etc. and couldn't find anything like it for sale in terms of character, and the fact that it's in the centre of town but tucked back, and is a house not a flat.If 50k is 6% would make the house worth 833k then lol ? Either way must be in the South East
Paid around £238k. Someone offered 240k I believe but we were in a better position, and they liked that we were first time buyers who loved the house, so they accepted out offer.
Oxfordshire, btw.
House was up for £600k and went to sealed bids. We loved the place but it was right at the top of our budget.
Back to my previous points about finding out the relative positions of everyone competing and the seller’s motivation, before submitting our final bid, I found out that:
1: The seller was desperate to go for personal reasons
2: We were the only offer that could proceed immediately (we were in rented, had a large deposit and MAIP)
I submitted a BAFO of £610k and made it abundantly clear that, if the seller wanted to get out of the headlines sharpish, ours was the only offer that allowed him to do that. We had no chain, would exchange as rapidly as the vendor wanted and would take vacant possession if necessary to enable them to move on quickly and quietly.
It was sphincter tighteningly expensive for us when we did bought it, but I’m so glad we did. 10 years on, it suits us perfectly and has probably close to doubled in value due to the work we’ve had done over that time
TwigtheWonderkid said:
No, they accepted an offer of £45K less because due to their desperate circumstances, it was still an acceptable offer.
Exactly my point, thank you. Changed your tune a bit from this
TwigtheWonderkid said:
They didn't have to do anything. No one had a gun to their head.
To thisTwigtheWonderkid said:
No, they accepted an offer of £45K less because due to their desperate circumstances
"Desperate cicumstances" that noodle-scumbag took as much advantage of as possible.DRFC1879 said:
I also negotiate multi-million pound deals for a living. Blah blah, powerfully built, something about custard etc.
The bit schmalex seems to be forgetting (wilfully?) here is one of the first rules of buying & selling (which comes way before crossing into negotiation).
Rule 1. Is this (a) A one-off transaction or do you want to (b) forge an ongoing relationship?
If (a) drive for the very best deal you can get for yourself and sod everything else. a win-win in this situation probably means you haven't done your job properly.
If (b) Consider the other party's stance, set out a field of play and try to guess where the overlapping area of what is acceptable to both parties (zone of potential agreement/ZOPA) lies. It doesn't matter where in that zone your final agreement sits, it's still an acceptable outcome that works for both parties going forwards.
A house purchase is firmly in scenario a. Well done, noodle.
I’m absolutely not forgetting that part.The bit schmalex seems to be forgetting (wilfully?) here is one of the first rules of buying & selling (which comes way before crossing into negotiation).
Rule 1. Is this (a) A one-off transaction or do you want to (b) forge an ongoing relationship?
If (a) drive for the very best deal you can get for yourself and sod everything else. a win-win in this situation probably means you haven't done your job properly.
If (b) Consider the other party's stance, set out a field of play and try to guess where the overlapping area of what is acceptable to both parties (zone of potential agreement/ZOPA) lies. It doesn't matter where in that zone your final agreement sits, it's still an acceptable outcome that works for both parties going forwards.
A house purchase is firmly in scenario a. Well done, noodle.
Had he said “I knew the property had been on the market for X years, so low balled an offer to see if they would take a kick in the nuts as I wasn’t actively looking anyway”, I would be the first person to congratulate him
However, he didn’t do that. The vendor agreed a price in good faith. He then reneged on that 3 times. He was lucky that the vendor was either too stupid or too desperate to tell him to GTFO.
That’s not “I win / you lose”, that’s “I’m a disingenuous
”It is... but then the seller still had the choice to say "GTFO" when he came in with a lower offer. They didn't do that and must've had a reason. I'm the sort of person who likes to be liked but if I could save £90k over a mortgage term in return for a stranger who I would probably never meet again thinking I'm a bit of a tt... sign me up!
t... sign me up!DRFC1879 said:
It is... but then the seller still had the choice to say "GTFO" when he came in with a lower offer. They didn't do that and must've had a reason. I'm the sort of person who likes to be liked but if I could save £90k over a mortgage term in return for a stranger who I would probably never meet again thinking I'm a bit of a tt... sign me up!
A stranger who knows where you live, don't forget t... sign me up!
Depends on the market and the product. Houses in Edinburgh for examples are going for as much as 10-30% OVER the asking price.
Makes buying a house an absolute nightmare as you need deposit + fees + whatever the over asking price is, in cash, as you'll only get a mortgage up to home report value.
Makes buying a house an absolute nightmare as you need deposit + fees + whatever the over asking price is, in cash, as you'll only get a mortgage up to home report value.
Jasandjules said:
Indeed.
Once you have agreed a price you stick to it IMHO, unless you have stated "subject to survey" and the survey actually throws up an issue.
It seems many people have no honour or decency these days.
Worst part about the English housing market, and the best part about the Scottish housing market. In Scotland, if an offer is made and accepted, there is a binding contract at that point. Once you have agreed a price you stick to it IMHO, unless you have stated "subject to survey" and the survey actually throws up an issue.
It seems many people have no honour or decency these days.
Edited by Integroo on Monday 16th July 18:52
Integroo said:
Worst part about the English housing market, and the best part about the Scottish housing market. In Scotland, if an offer is made and accepted, there is a binding contract at that point.
Quite so. I would destroy the Law of Property Act if I was in power and install a system which matches the Scottish one. Edited by Integroo on Monday 16th July 18:52
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