Active discussions

Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Talk
Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

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:
glitterbiscuits · 27/08/2019 14:04

The outside area seems massively overlooked.
How old are your DC? One bathroom may be pushing it, especially as they get older.

For such an odd house I think the vendors are pushing their luck. How long has it been on the marker for?

ChicCroissant · 27/08/2019 14:05

But made it absolutely clear that it was above what I was happy to pay.

I would never accept an offer from someone who said this - I'd be waiting for them to chisel the price down. Really would not advise doing this again.

You seem to have decided on a specific area for your search, and the houses there are not as nice as the ones further out. I'm guessing that is the largest house you have looked at in that area in your budget?

Original poster
Rainbowhairdontcare · 27/08/2019 14:12

It's the furthest we can go within our budget for that size of house.

I actually think the vendors are being greedy, and if it wasn't that with a baby it's hard to do too much DIY. I'm viewing another one tomorrow but the staircase to the loft is in the smallest room, so not very hopeful.

OP posts:

Interested in this thread?

Then you might like threads about this subject:

Property
Confusedbeetle · 27/08/2019 14:15

@fallowfrain, is this right? Posts from here appear on Rightmove?

CokeZeroHero · 27/08/2019 14:15

Ate they being greedy? Or do they just not want to accept your offer for whatever reason?

flumpybear · 27/08/2019 14:17

What's your area of interest - let MN be your Kirsty and Phil 🥳😎

Original poster
Rainbowhairdontcare · 27/08/2019 14:20

I think she means MSE! We need a house between Falmouth and Truro with 4 bedrooms or something similar for £205-£206k. Which I know it's a lot to ask for!!

OP posts:
flumpybear · 27/08/2019 14:27

What's Camborne like? There are a few there (whit something hill and rosskear road look ok)

Original poster
Rainbowhairdontcare · 27/08/2019 14:30

I personally don't mind Camborne... But I'm not a local, so just go by looks. Most people think it's extremely deprived and a horrible place to live DH included.
It also adds 10mins to our commute.

Closet to 1hr for DH and closer to 40mins for myself. Schools would be 35mind away. From school to work it's another 25-30mins.

OP posts:
Humberbear · 27/08/2019 14:31

It seems a fair price if the other house is on the market for 10 grand more. Yoy say the other house has a garden and off street parking but this house has a garage (wouldnt bother me walking across a communal area to access it) most garages are often just used for storage, communal parking and a small garden area. This house to me is ideal if you have a teenager or dependent relative or work from home. Could always change a bedroom into a single bedroom and have a shower room.

Chunkers · 27/08/2019 14:32

Wow, they only paid £67,500 for it back in 2000. Not that this helps...
If it’s been on the market for a year, I would leave them to stew and continue your search. They may come back, but then again by then you might have found something better. Good luck.

KurriKurri · 27/08/2019 14:35

It could be for all sorts of reasons
What is your buying situation ? They maybe think that if they are going to take less they want someone who is a better bet.

They may for some reason only be taking offers for the full amount (I had to do this when selling a house after divorce - my XH would not entertain anything under the asking price)

They have probably already priced it to take into account it's shortcomings (again I did this with the last house I sold, so I wasn;t open to arguments of 'it needs work - I'd allowed for that)

Maybe (I don't know) your view of it's shortcomings have been relayed to the vendor so they worry you may pull out if something better comes along (Remember the estate agent is working for them and will also be advising them on whether you are a good buyer)

They aren;t being greedy - they have put their house on the market for certain amount. They might equally argue you are timewasting by viewing a house you cannot afford. They can ask and accept whatever they want.
If they won't accept your offer then move on to another house - if you think this house has problems then other buyers will as well if you want to sell in the future (for what it's worth shared access to garden would be an automatic rule out for me when buying a house)

They may need to get that price in order to buy the next property they want.

You can't get emotionally involved when you buy a house - you are creating in your mind a vision of these people - greedy, difficult etc. You don't know their circumstances, so no point getting worked up. You've made an offer under the price they asked, they are under no obligation to accept it. It's a business deal - you asked, they said no - increase your offer or move on, or sit tight and see if they are willing to reduce if it doesn't sell (And you may welll find yourself in a position to offer even less as they might be desperate by then )

flumpybear · 27/08/2019 14:36

There's one on Zoopla for 175k Mount Pleasant Road Camborne - needs work but you'd have 30k to play with! Downstairs is massive, you could easily have a bedroom /living space for your DM Too and garden looks nice

There's precious little around there foe your price which is a shame - any chance you could get the mortgage company to lend you more? Extend the repayment length? Have a guarantor?

Original poster
Rainbowhairdontcare · 27/08/2019 14:37

@Humberbear all houses have a garage. Two houses (out of three) can park in the communal area. The one were interested in is the only one with no designated parking. Plus the other two have a decent garden and a conservatory. I don't think they're selling them anyways.

OP posts:
Cohle · 27/08/2019 14:41

Well posting about their house on MN and calling them greedy probably won't endear you to them.

ThanosSavedMe · 27/08/2019 14:41

You can’t make them accept your offer, doesn’t matter whether you, I, the whole of mumsnet and the universe thinks they’re being greedy. You’ve made an offer, they’ve rejected it. You either find the additional money or you walk away. You never know, they may change their mind but it’s not guaranteed

Original poster
Rainbowhairdontcare · 27/08/2019 14:44

That's the best we can get given our circumstances. And that's with Bank of mum and dad giving us a hefty deposit. That also means she has a say and she's fairly picky.

DH doesn't want a house that needs an extension (he's very concerned about it being a money pit) or houses that need tons of DIY. Even though he's a very handy man he won't have the time.

DS and baby sharing bedroom is out of the question but in the end we need some room for our DMs. We're retiring abroad in 10 years, which is something else to consider when buying this house.

OP posts:
Original poster
Rainbowhairdontcare · 27/08/2019 14:47

I doubt they're on MN, but you never know. In the end I know they're not obliged to. Rapport is helpful though. There was another house we liked and the EA said the be for had hoped we'd make an offer (which we did!) But we took a couple of days and they had already accepted an offer.

OP posts:
Riverviews · 27/08/2019 14:54

You have a baby on the way, but you are retiring in 10 years time? Can you not wait 15 years to retire and get a slightly bigger mortgage? Just thinking of alternatives

Original poster
Rainbowhairdontcare · 27/08/2019 15:01

The mortgage is taken for 30 years. The retiring is because I'll finally be able to get my full inheritance and live of it by then, or pay this one off and get a much better house. But that's in 10 years and trust/properties/inheritance is all abroad and mortgage lenders won't hear about it. If they did they'd lend us closer to £280-300k but because of the country it's in, it's like that money didn't exist. Remortgaging my property over there isn't an option either as I'm not a resident and the rates are 14%APR.

OP posts:
Ferretyone · 27/08/2019 15:04

I have never seen the point of "making offers" for property. The only certain way of getting the place is to pay the full asking price. Or not buying it! Do you go into Sainsbury's and "make offers" on the beans.

When we have sold houses we have always instructed the EA "fixed price" which speeds things up. It shows that potential buyers are serious. Is "making an offer" a "virility" thing?

Passthecherrycoke · 27/08/2019 15:06

Tbh OP if they don’t want to accept your offer there isn’t anything you can do to make them realise you’re right and they’re wrong. It’s their house.

Maybe they’ll only sell if they get the £210k and aren’t really fussed about selling

Ilikethisone · 27/08/2019 15:07

Sainsburys isnt set up as somewhere you would offer a lower amount for.

If you dint like the price of beans in sainsburys you go elsewhere.

What a house is worth is, in some ways, subjective and houses are usually priced to anticipate haggling. If not, the usual say OIE (offers in excess).

Original poster
Rainbowhairdontcare · 27/08/2019 15:07

@Ferretyone I agree with you to an extent. If you want asking price, you make it clear from the start. I do however always ask for discounts, have been able to manage decent discounts in previous houses and cars (new from dealerships).

OP posts:
Original poster
Rainbowhairdontcare · 27/08/2019 15:10

@Passthecherrycoke I think that's what it is. Which is what I tried to get form the EA. If they only want asking price, I'd rather know that from the start.

OP posts: