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Original poster

Vendors rejected offer, what next?

147 replies

Rainbowhairdontcare · 27/08/2019 12:59

We offered £205k on this house:

www.rightmove.co.uk/s6p/64212273

We recognise it has its issues (decoration, garden and garage access through communal area) and thought £205k was a very sensible offer.

We could maybe offer £206k but that would be stretching it as MB has said that's the maximum they'd lend us. Everybody loves the house and it's a shame to just say goodbye to it, but at the same time were fully aware it's not worth £210k (lack of garden and not the most desirable of areas).

OP posts:
Original poster
Rainbowhairdontcare · 27/08/2019 13:00

www.rightmove.co.uk/s6p/64212273

OP posts:
Redshoeblueshoe · 27/08/2019 13:03

A friend of mine put in an offer and the owner rejected it, it needed an awful lot of work doing. Three months later he went back and put in the same offer and it was accepted.

Original poster
Rainbowhairdontcare · 27/08/2019 13:07

They've been trying to seek it for a whole year (different EAs) it has been listed for £225k originally, which is sky high considering the lack of garden.

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AllFourOfThem · 27/08/2019 13:07

Perhaps they have valued it to take into account the work that needs doing and need the full amount for their next purchase or perhaps they are holding out for any higher bids. Often by turning down a low bid it encourages higher bids because the EA will tell viewers that they have already rejected XX amount so it saves wasted time all round.

user1471504234 · 27/08/2019 13:07

If you can’t/won’t pay more and they won’t accept your offer there’s nothing you can do. If you wait they might come back to you but then again they might not. Just keep looking for somewhere else.

AforEffort9 · 27/08/2019 13:09

You offer what you are willing to pay, make it clear it's your final offer and be prepared to walk away if not accepted. If the owners are not willing to accept 2% less that asking price in this current climate that's their problem.

Ilikethisone · 27/08/2019 13:13

So have you offered 206?

Maybe 210 is the minimum they are willing to take.

The only other option is try and find the 4k or walk away

Original poster
Rainbowhairdontcare · 27/08/2019 13:14

The work it needs is minimal in the grand scheme of things. It's the things you can't change that make it such an odd house. Only one bathroom for 4 bedrooms, no garden, there are three staircases (bedrooms 1 and 2 have their own, 3-4 share a staircase). A house in the area with similar number of bedrooms with a standard layout, off street parking and some sort of garden is 220k. An old big Victorian with a garden to match is about £235k

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Original poster
Rainbowhairdontcare · 27/08/2019 13:15

@AforEffort9 exactly what I think!

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RebootYourEngine · 27/08/2019 13:16

I wouldn't offer anymore. I would wait and see. They may come back in a few months and accept. In this time I would keep looking.

Perch · 27/08/2019 13:21

Just sit tight. They would be MAD to turn down a sensible offer in this climate, it’s a buyers market (we’re exchanging this week, SE)
Remember that you might have the same issues when it comes to selling, is it generally a good buy? Obv I don’t know your area at all, might be a steal for all I know. Can’t imagine not having a garden though but thats just me, and all those stairs!

Original poster
Rainbowhairdontcare · 27/08/2019 13:22

I personally think they're being greedy. So does my DM. I've bought/sold houses before and never have bought/sold for the asking price.

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Original poster
Rainbowhairdontcare · 27/08/2019 13:23

Peach we actually think it's a very niche property but don't mind. Ultimately we think we might just leave it to our DC when we retire abroad in 10 years or so.

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ChicCroissant · 27/08/2019 13:28

It is already cheaper than other houses, so it seems likely that the price reflects what they think it is worth - and if that's what they want, they are entitled to do that.

It's fine to walk away. Don't waste your energy trying to change their minds, though!

AllFourOfThem · 27/08/2019 13:31

A house in the area with similar number of bedrooms with a standard layout, off street parking and some sort of garden is 220k. An old big Victorian with a garden to match is about £235k

So it is priced to reflect its shortcomings already.

Original poster
Rainbowhairdontcare · 27/08/2019 13:33

I guess what's annoying is that they took the weekend to think about the offer. It didn't help either that the DC came out of it saying how much they loved it.

Our main issue is commuting and space. Houses further afield are more affordable (and in more desirable locations) but with current school and work commutes it's tricky to find somewhere within 30mins.

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DontCallMeShitley · 27/08/2019 13:45

If you bought it would it be difficult to sell in the future? Would it be worth paying more?

Can you wait for another property to come along? Play the waiting game because the lack of garden might be an issue in the future and it isn't worth more.

Beamur · 27/08/2019 13:46

Look for another house.

CornishMaid1 · 27/08/2019 13:47

Have a word with the agents. Ask if they are not going to accept anything below asking. That way you know whether you have a chance. If you don't want to go up, just go back and say that was the highest and if the sellers do re-consider in the next week or so to let you know.

Given the price and location, I would also check with the agents whether there is a mining report available and whether there is a mundic report available on the house. It may be clear, but given the price being lower than others and you needing a mortgage, it is worth finding out now.

Butterfly02 · 27/08/2019 13:47

Leave the offer on the table as it is. With brexit around the corner and therefore uncertainty plus length of time on market they may come back to you quite soon. Also careful offering too much (the valuation may become an issue with mortgage).
I offered on a house that had been on market ages / needed work - put very sensible offer in (not cheeky) they then declined - I carried on looking found an even better house - moved in and the house was still on market they ended up selling for less than my offer. I always think things happen for a reason and down the line you'll with hindsight see why this offer was rejected - keep your chin up for now and enjoy more house snooping / hunting.

Original poster
Rainbowhairdontcare · 27/08/2019 13:56

I've said £206k and only because the DC really liked it. But made it absolutely clear that it was above what I was happy to pay.

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LochJessMonster · 27/08/2019 13:59

1 bathroom and no garden and you have children? Are there no other houses better suited?

Original poster
Rainbowhairdontcare · 27/08/2019 14:02

@LochJessMonster unfortunately with the number of DC we have even if they don't live with us FT it's a struggle. We also have to think about our DMs that will help with childcare when the baby arrives, they'll need some private space considering they'll stay for at least one month each.

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Fallofrain · 27/08/2019 14:03

Its worth saying that when i looked up the house, i found several of your threads including here and money supermarket so vendors might know alot about your situation!

BarbedBloom · 27/08/2019 14:03

It could be they simply can't afford to drop anymore