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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

AIBU to reject this offer in the hope of getting a better one?

134 replies

Flossyfloof · 09/06/2012 13:56

I know that only I can make this decision but am really torn and would welcome your thoughts. I put my Dad's house up for sale a few weeks ago. I am still finding it all hard, although he doed over a year ago, and was in no great hurry to get things moving. I received the draft details from the agent only yesterday. Today I hear that there has been an offer - just less than 10% less than the asking price; I feel the asking price is very reasonable - although the house needs modernising it is a lot of house. The ad went on Rightmove in the last three days The offer is from a couple who have finance arranged and are not in a chain. The agent mentioned this morning that they sold a house on the road round the corner absolutely immaculate, for £25,000 more than the asking price, mentioning that this road was a better road than the road my Dad's house is on. It is a nice road but I think our road is better. I just felt that she maybe knew these people and was trying to get them a good deal - they won't go any higher than their offer. I feel I a lucky to get an offer but the house has only been advertised for a few days. I don't know whether to hold out for a bit more or to take this, the first offer.
On the plus side of accepting - they have finance, it is an offer, they are ina position to proceed, it would be a big weight off my mind.
ON the minus side I didn't like the way the agent seemed to be pushing, the offer is on the low side and it has only effectively been on the market a few days.
WWYD?

OP posts:
Original poster
Flossyfloof · 09/06/2012 20:28

No, the reason I think the offer is low is because it is. The agent did not tell me so at all, although I definitely agree that they make it up as they go along! In fact I understand that the housing market is set to improve in the area and Zoopla says that prices have risen recently. It is hard to compare houses in that road - there are lots of different types, but this one is the largest on the road.

OP posts:
Original poster
Flossyfloof · 09/06/2012 20:29

I think it was built late 70's, early 80's. I think if I had insisted on asking a higher price to start with I might have been more amenable to a lower offer.

OP posts:
travailtotravel · 09/06/2012 20:30

I would accept, tbh. 10% is normal and in the current climate actually pretty good. You could wait and get a much lower offer - in fact you will, once a house has hung around without selling people are much much cheekier with offers. As my dad would say 10% of nowt is still nowt ...

I think you put the nail on head when you said you are still finding losing your father difficult to deal with. This is a very final move to make. You need to be comfortable with it.

DamnBamboo · 09/06/2012 20:34

10% is not normal in the current climate!

Why do people keep saying this.

How many people with views on this that have posted have actually bought and/or sold since the housing market dipped?

It's just not true.

Original poster
Flossyfloof · 09/06/2012 20:37

I have !! I have !! I have just bought a brand new house and they took off about 3%. No way they were going to drop more than that.
I have no problem with them offering this but I feel a bit peeved with the agents for saying after three days that I should accept a hit of £20,000. The impression was definitely that I should accept the offer and I am not so sure. Very much appreciate everyone's thoughts on this.

OP posts:
GnomeDePlume · 09/06/2012 20:38

I'm sorry Flossy but in my limited experience as a property developer if the estate agent doesnt include internal photos then my assumption is that there is a lot of work needed internally.

IME estate agents massively under-estimate the amount of work that is needed or what that work will cost. They wont necessarily have made that much adjustment for the work needed.

This is a bird in the hand situation.

You could turn them down then sit for 6 months with it's condition steadily worsening and still only sell it for a few thousand more. In the mean time you will have to keep it safe and secure.

It was never yours. Sell it and move on.

cantspel · 09/06/2012 20:41

I moved in feb of this year but i am in the south so completely different market than the op.

www.zoopla.co.uk/for-sale/details/16350949?search_identifier=9b39a9f09ecef9886de1cb87ac1788f8 is a nicer looking and better condition but 3 bed house which is sstc.

Looking at what is on the market and what has sold i would say £200k is a good offer on a house that needs a complete refurb. But at the end of the day it is upto the op if she wants to take a gamble on being able to get more.

GnomeDePlume · 09/06/2012 20:43

DamnBamboo I have bought, renovated and resold two bungalows in the last couple of years. We now arent buying because sellers want too much money for places which need work doing.

Dozer · 09/06/2012 20:46

Check recent actual land registry prices in the area, eg on mouseprice.

DamnBamboo · 09/06/2012 20:48

I defer to your knowledge and experience Gnome.

It's just not mine, after having sold and bought a few of my own in the last two years and always getting what I was happy with in 'this market'

I am also 20 mins commute from London Kings Cross though so this may well have a bearing on this.

noddyholder · 09/06/2012 20:48

I have bought and sold 11 times in 7 years 10% is very normal esp for a refurb.It is not a hit as it isn't really like you have invested in it apart from emotionally. It is a good offer with how the economy is atm.

cantspel · 09/06/2012 20:49

If you look on zoopla it tells you the number of views there has been on your house since it was listed.
You have had 4 views and one of them would be me, so that tells me there is not a lot of buyers looking in your area.

rookanga · 09/06/2012 20:51

Their cash-flow isn't your problem, but at the same time you want someone to buy the house. If it has only been on for a few days though then you don't really know who else might be out there and willing to buy it.

Original poster
Flossyfloof · 09/06/2012 20:53

Cantspel how do i see the views on Zoopla? One of them is probably me, so that is even worse news!!

OP posts:
cantspel · 09/06/2012 20:55

It is on the side of the page
www.zoopla.co.uk/for-sale/details/17268102?search_identifier=9b39a9f09ecef9886de1cb87ac1788f8

under listing history

TaytoCrisp · 09/06/2012 20:58

I would definitely wait a week or two. They are likely to be still interested then; plus such an early offer is a good indication that others will also be interested. I think your agent should be working a bit harder to get you a better price -I'd understand their approach better if the house had been on the Market for 4 or more weeks.

DamnBamboo · 09/06/2012 20:58

I had hundreds of views on rightmove and only 29 on zoopla!

Clearly zoopla gets nowhere near the same traffic as rightmove and the figures are not the same.

Original poster
Flossyfloof · 09/06/2012 20:59

Thanks I can see the views now! Never noticed that before. It is a useful pointer, I think.

OP posts:
DamnBamboo · 09/06/2012 20:59

Ask your estate agent for the rightmove viewing figures OP, they will be able to get them.

DamnBamboo · 09/06/2012 21:00

NO it's not Flossy, people go to rightmove to buy houses.

Can't believe people are talking you into this if your house has been on for a couple of days only!

cantspel · 09/06/2012 21:01

no you posted a link to rightmove but not to zoopla so all the lurkers have been having a noseyGrin

Rightmove is busier than zoopla but any serious buyer would be checking both. I know when we were buying we checked about 4 different site on a daily bases.

cantspel · 09/06/2012 21:03

Either way it is a gamble and only the op can decide whether to play safe or take the long shot.

NarkedRaspberry · 09/06/2012 21:03

I am also 20 mins commute from London Kings Cross though so this may well have a bearing on this

Grin Really????

DamnBamboo · 09/06/2012 21:04

Cantspel the number of views showing up on Zoopla, tells you nothing of who has been looking in OPs area.

Her estate agent, or somebody else with access to rightmoves figures however will be able to.

DamnBamboo · 09/06/2012 21:05

Why the grin narked?

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