Thought it was a buyers market!!!
Discussion
So I finally saw a property that I like, and decided to go for it.
It has been on the market for over 7 months, and has had no offers up till this date.
It is on the market at offers over £118, and is overpriced for Dundee in my opinion, And hence why I have offered under the asking price.
Well so far, the sellers have refused 95, and 97...so I have tried once more. I have no chain, mortgage is set up ready to go, and I can move fast.
Huh, so much for it being a buyers market
It has been on the market for over 7 months, and has had no offers up till this date.
It is on the market at offers over £118, and is overpriced for Dundee in my opinion, And hence why I have offered under the asking price.
Well so far, the sellers have refused 95, and 97...so I have tried once more. I have no chain, mortgage is set up ready to go, and I can move fast.
Huh, so much for it being a buyers market
Have you thought that maybe the owner isn't particularly interest in selling, unless he can get what he wants for it & that being circa 118k
Not everyone is a distressed seller & as such it is their choice at what price they are willing to sell.
My best advise woud be to put a 'best & final' offer forward, clearly stating you're position, and if it isn't accepted move on.
Not everyone is a distressed seller & as such it is their choice at what price they are willing to sell.
My best advise woud be to put a 'best & final' offer forward, clearly stating you're position, and if it isn't accepted move on.
Firstly, do you know what it is actually worth? Does it have a home information pack with a valuation, if so and you're offering way under value then they may be reluctant to accept your offers (especially if the value is a recent valuation reflecting the current market anyway).
Also, instead of walking away from the property, explain that you are serious and put your final offer on the table and let them know it's your final offer - if you keep going back and forth with increased offers the agents will let you, why are they going to accept an offer if they think you'll increase it again anyway! Make sure they know you have nothing to sell, mortgage is ready and that your final offer is final - if they refuse it let them chase you if they're interested.
Also, instead of walking away from the property, explain that you are serious and put your final offer on the table and let them know it's your final offer - if you keep going back and forth with increased offers the agents will let you, why are they going to accept an offer if they think you'll increase it again anyway! Make sure they know you have nothing to sell, mortgage is ready and that your final offer is final - if they refuse it let them chase you if they're interested.
Hobo said:
Have you thought that maybe the owner isn't particularly interest in selling, unless he can get what he wants for it & that being circa 118k
Not everyone is a distressed seller & as such it is their choice at what price they are willing to sell.
My best advise woud be to put a 'best & final' offer forward, clearly stating you're position, and if it isn't accepted move on.
Not everyone is a distressed seller & as such it is their choice at what price they are willing to sell.
My best advise woud be to put a 'best & final' offer forward, clearly stating you're position, and if it isn't accepted move on.
Some are deluded as to what their house is worth and some need a certain amount for the next move/to pay off debts.Erm, don't take this the wrong way, but maybe they are in no rush to move...
Even if it is overpriced in your opinion, people aren't obliged to entertain silly offers just because of the slump...
If you want the house that bad, you will up your offers to meet them at a point where they will start taking you seriously...if you genuinely don't think it is worth stretching then forget this house and move on.
Even if it is overpriced in your opinion, people aren't obliged to entertain silly offers just because of the slump...
If you want the house that bad, you will up your offers to meet them at a point where they will start taking you seriously...if you genuinely don't think it is worth stretching then forget this house and move on.
Edited by bazking69 on Thursday 23 April 16:15
V8mate said:
What's the point in the Scottish 'offers over...' system if you can offer less? 
A year ago, I wouldn't have thought of offering under the 'offers over' figure, but it's standard up here now. Even on 'fixed price' property.Still no come back from 3rd offer...but gut feeling is just walk away. Am homeless in 6 wks anyway
I am selling a house in Dundee. Perhaps we can do a PH deal, what are you looking to move into?? .. although you may have to up your budget a little. 
In any event, I think the notion of it being a buyers market is only specific to individual properties which are being sold under individual circumstances. I personally wouldn't entertain an offer so far below the asking price with the property I am selling although someone a few doors down might well do so with theirs. It's fair to average everything out and say in general terms its a buyers or sellers market at any particular time but there will still be many properties for sale where there is really no particular reason for anyone to take a low offer unless they choose to or have to. Doesn't mean thay you should stop making them but perhaps not be overly offended if it's declined.
In any event, I think the notion of it being a buyers market is only specific to individual properties which are being sold under individual circumstances. I personally wouldn't entertain an offer so far below the asking price with the property I am selling although someone a few doors down might well do so with theirs. It's fair to average everything out and say in general terms its a buyers or sellers market at any particular time but there will still be many properties for sale where there is really no particular reason for anyone to take a low offer unless they choose to or have to. Doesn't mean thay you should stop making them but perhaps not be overly offended if it's declined.
Not offended at all...I had actually wrote this property off my list several months ago, as I never thought I had a chance of getting it. But it was my money man who said to go for it, as the market in Dundee has slowed down.
Am just too fussy, in what I want....ie I don't want a 'schemeo' house!!!
Oh going back to your property....what about if Ally cleaned your cars for free??? Am sure he would for me
Am just too fussy, in what I want....ie I don't want a 'schemeo' house!!!
Oh going back to your property....what about if Ally cleaned your cars for free??? Am sure he would for me
Edited by Penny-lope on Thursday 23 April 20:20
Penny-lope said:
V8mate said:
What's the point in the Scottish 'offers over...' system if you can offer less?
A year ago, I wouldn't have thought of offering under the 'offers over' figure, but it's standard up here now. Even on 'fixed price' property.Still no come back from 3rd offer...but gut feeling is just walk away. Am homeless in 6 wks anyway
You're right though - there's no way an "offers over" would have gone for less that that 18 months ago.
whirligig said:
Penny-lope said:
V8mate said:
What's the point in the Scottish 'offers over...' system if you can offer less?
A year ago, I wouldn't have thought of offering under the 'offers over' figure, but it's standard up here now. Even on 'fixed price' property.Still no come back from 3rd offer...but gut feeling is just walk away. Am homeless in 6 wks anyway
You're right though - there's no way an "offers over" would have gone for less that that 18 months ago.
Think it will be a few bottles of vino tonight
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