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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:
Passthecherrycoke · 27/08/2019 15:11

They might not have told the EA

Bluntness100 · 27/08/2019 15:14

Op, calling them greedy might make you feel better. But Think of it from their perspective though. This is their house. It's their decision what they sell it for, if at all. Thy are not greedy or you grabby because your trying to get it cheaper or them holding to their price.

If they won't meet you, and uou cant or won't afford the asking price then you have to move on and find another property.

Original poster
Rainbowhairdontcare · 27/08/2019 15:14

Maybe, I also expected a counter offer. I did in my previous two houses and was happy to match what they wanted, less stress and more efficient.

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Passthecherrycoke · 27/08/2019 15:16

But you can only offer £1000 more so what’s the point? They aren’t going to be a no for £205k but yes for £206

Original poster
Rainbowhairdontcare · 27/08/2019 15:18

@Bluntness100 I guess from when I sold, I was expecting some room for negotiation. I remember when they offered I made them a counter offer and everybody was happy.

Yes, they would think about it, they did and they decided not to take it. No problem. They know we're interested though, I would have expected some back and forth not just pulling IYSWIM

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underneaththeash · 27/08/2019 15:21

I think it's worth offering £206,000. You've nothing to lose. I'd make it clear though that you can't go any higher.
If they reject the offer, say you're happy to "leave it on the table" they may come back to you in a couple of weeks to accept.

KurriKurri · 27/08/2019 15:21

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.

Who did you make it clear to ? Because if I was a vendor and heard that £206K was above what you were happy to pay, I would suspect you were at some point down the line, (possibly when I was deep into my next purchase) going to suddenly decrease your offer.

Original poster
Rainbowhairdontcare · 27/08/2019 15:26

To the EA. But also the EA are very aware of how much they liked it. I even said, look the offer will always be there. Of course if we find something we'll have the courtesy to let you know.

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AdobeWanKenobi · 27/08/2019 16:27

The words "Communal Parking" would have me running for the hills tbh.

Original poster
Rainbowhairdontcare · 27/08/2019 17:18

AdobeWanKenobi yes it's a very peculiar house, we like it but we're sure it's going to be a pain to sell. I don't think the current owners are of the same school of thought.

No call back from the EA I think sadly it's back to the drawing board.

OP posts:
colourlessgreenidea · 27/08/2019 17:34

I actually think the vendors are being greedy

It’s their prerogative to sell their house (or not) for whatever they like.

It’s coming across that because you and your children like the house you’re entitled to buy it for the price you’ve decided on, and you’re making judgements about them because the figure they want to sell for isn’t the figure you want to buy it for. Making clear that your slightly increased offer was grudgingly made doesn’t come across well either.

What you think about them and their reasons for rejecting their offer is immaterial, really. They can do what they like with regard to their own house.

Ferretyone · 27/08/2019 17:36

@Ilikethisone

I would never buy any house that was Offers in Excess. That - to me - suggests that the vendors are not serious about selling. I dislike the idea of "offers" as said simply on the grounds that it wastes time and leas to uncertainly. Suppose you "offer" £207000 on a £210000 house. The vendor "accepts". In English property law the sale is not binding[until contracts are exchanged] so everything starts moving forward and expense incurred. Then someone else ["us"?] offers the full asking price and the original sale falls through. You are back to square one and somewhat poorer!

The Scottish system "fixed price" or binding "accepted offers" [in excess] has some merit for both sides!

Original poster
Rainbowhairdontcare · 27/08/2019 17:45

@colourlessgreenidea I won't disagree with that. What I find annoying is that they won't reveal even remotely how much they actually want. In my previous experiences of buying/selling after the second rejection (or even first) we were given a broader idea or even a counter offer. Also that come from most people who Ive shown the house to and the majority come to the conclusion it will be hard to sell down the road. Something that will happen considering we plan to move out of county.

OP posts:
Original poster
Rainbowhairdontcare · 27/08/2019 17:46

I think it would have been better to reject it from the start rather than "sleep over it" while rejecting it and not giving any idea if how much they'd accept/counter offer.

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colourlessgreenidea · 27/08/2019 17:52

What I find annoying is that they won't reveal even remotely how much they actually want.

If they’re not prepared to accept an offer of 2% under the asking price, then you’ll have to presume what they want (or need, depending on their circumstances) is the asking price.

Some people negotiate, some people won’t entertain anything below the exact price they’ve marketed for. Looks like these vendors are in the latter camp.

MrsElijahMikaelson1 · 27/08/2019 17:53

Just sit tight-they May come back and just keep looking

AJPTaylor · 27/08/2019 17:55

But some people rarely buy and sell and have very fixed ideas. We sold and bought in Spring 2017. Sold our straight away
We moved to a different area and the people we bought from wanted 400000 for their house, not 395, not 397, not 399999. They would only sell for 400000. We bought it. Tbf it needed nothing doing to it and was the only house in Town with 4 beds for actual sale!😁

Cohle · 27/08/2019 18:09

What I find annoying is that they won't reveal even remotely how much they actually want.

What do you think an asking price is? Grin

Nextphonewontbesamsung · 27/08/2019 18:18

Are you sure you want it? I think it's awful, sorry! .

It will be hard to re-sell (just as it is hard for the vendors to sell now). No one wants 4 bedrooms and no garden.

Original poster
Rainbowhairdontcare · 27/08/2019 18:22

@colourlessgreenidea fully agree with you, that's the message.

@Nextphonewontbesamsung my point exactly. No matter how much of "bargain" it is (which it isn't), the vast majority of people don't want a 4 bed and no garden. Such a big house is a family home and as such a garden is a must for 99% of people regardless of the price.

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Original poster
Rainbowhairdontcare · 27/08/2019 18:27

@Cohle in my experience it's just a guide. When we sold we never expected it to go for that price and it didn't. When we bought that house it was listed for £190 got it for £185. Three years later, listed it for £215, sold it for £210 with the white goods thrown in. Next house was listed for £335k bought it for £305k. Maybe I'm in the camp of "willing to negotiate".

OP posts:
lovemenorca · 27/08/2019 18:29

This feels like such an invasion of the vendor’s privacy

Cohle · 27/08/2019 18:36

I agree, the asking price is a guide. Which is why I thought saying "that they won't reveal even remotely how much they actually want" was pretty odd. They've given you a very clear guide of what they want.

KurriKurri · 27/08/2019 18:40

Maybe I'm in the camp of "willing to negotiate".

And maybe they are too - so far you haven't negotiated - you've made an offer £5k under the asking price and they have rejected it.
A negotiation is you go up a bit they come down a bit and you meet where their desire to sell meets your desire to buy. Obly they won;t tell you exactly what they want or would be prepared to accept - that would be negotiation suicide !

And being blunt you are coming over as a bit of a pain as a buyer - I wouldn;t want to be negotiating with you or undertaking such a massive important sale with you on the other end of it. You seem to have very little idea of how house buying goes. And ultimately if they don;t want to negotiate that's fine - they told you how much they want for their house by the price they have set.

It isn't their fault that your interpretation of £210k is '£205 because I can't afford more than that but I should still be allowed to buy it at that price because I want to and my kids like it'

And I agree with PP - you have massively invaded these people's privacy by discussing them on a public forum - you should really ask MN to delete this thread it's very poor form to bring these people unasked into the public eye.

Wellandtrulyoutnumbered · 27/08/2019 18:40

Camborne, Redruth and Chacewater. Widen your search. Not many 4 beds on market in that price bracket.