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AIBU?

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Original poster

Selling my family home of 28 years and people expect ME to pay for their required alterations

231 replies

user1483875094 · 15/06/2017 17:46

Hello! I wondered if any of you might give me some sound advice.
I am selling my lovely (quite large) family home of 28 years, (so am very out of practice with selling and buying. Had three agents round, all said about the same sales price. Chose one, it went on the market. FLURRY of visitors as it is quite a lovely family home, 4 beds, two lounges, huge open plan kitchen diner - all up together and in very good order.
First offer, from a young couple who had made THREE visits, and they made an insulting and derisory offer, 60 k under the sales price! Their reason? They wanted to put a conservatory on the back, turn the large utility room into a down-stairs "wet room" (whatever that is) - knock a wall through from a small bedroom, and a small study upstairs to create a bigger bedroom, and cut down three lovely old trees. They reckoned that would "cost THEM" about 60k. Therefore the derisory offer. SORRY, what is it I am not "getting?" They saw the house 3 times, they had hundreds of photos, they had the accurate floor plans... WHY AM I EXPECTED TO PAY FOR THAT YOUNG COUPLES "DESIRES" - ??? I just don't get it! If they didn't like the house because it DIDNT HAVE A WET-ROOM, A CONSERVATORY, AND UNFORTUNATELY HAD TREES..... WHY COME AND VISIT? Sorry but I have been finding this whole process very trying indeed. Another couple, LOVED the house, and the massive amount of space - (but they would have to spend a "lot of money" to make it like THEY would want... so another nonsense offer! WHY VISIT IF YOU DON'T LIKE IT!? Anyone got any advice? I don't "need to move" but have been here with my two daughters on our own for many years. They have both flown the nest and are settled - and I really don't need this big place on my own. We three decided it was a sensible move, to down-size. But WHY, in that process, should I give away 50 or 60 k. to young couples who want to vastly alter this house? I am on the cusp of taking it off the market, and sod it!

OP posts:
SleepFreeZone · 15/06/2017 17:48

You don't have to do anything OP. Just wait for the right buyer to appear.

ZefStar · 15/06/2017 17:49

Cheeky gits, feel smug as you sell it to someone else

StillDrivingMeBonkers · 15/06/2017 17:49

I feel your pain. Going back some years once couple wanted 15% off the asking price because 'we don't like the stones used on your patio' and 'the kitchen is the wrong colour'.

This is my front door, don't slam it on the way out!

MayhemandMadness01 · 15/06/2017 17:50

Ask if your estate agent can vet them a bit more before arranging the viewings.

wisteriainbloom · 15/06/2017 17:51

It's not derisory to put an offer in.

We recently bought a house and found the baby boomer generation the most greedy and difficult to deal with, I hope it was just coincidence but they all wanted vastly too much for their dated properties and were prepared to sit and wait it out until they got what they feel they deserved.

araiwa · 15/06/2017 17:51

Is 60k 1% or 40% of the property value?

Youre being overly emotional about your house.

You should be embarrassed by your first offer, then you negotiate. If its below what you want- decline their offer

Syc4moreTrees · 15/06/2017 17:53

Deep breaths OP, it's stressful, but just let the estate agent know what you would be willing to accept and they can just advise viewers who want to make a daft offer that it won't be accepted so they're wasting their time. Probably you may have to be prepared to accept that people make offers below asking, depending on the price you have it on at 60k below asking might be considered reasonable iyswim

Zampa · 15/06/2017 17:53

What's the £60K as a % of the sale price? 10% or 30%?

You don't have to do anything but how does your home compare to others on the market at the same price? Have they had this work done? Is your taste "modern"?

One derisory offer can be seen as one chancer but if they continue, you may need to heed what they're telling you.

Defuzzing · 15/06/2017 17:54

Tell the estate agent you are not accepting offers for less than the asking price.

TrueSay · 15/06/2017 17:54

Just say no? Maybe that's what they think it's worth?! You're not paying for anything because that money isn't yours! It's phantom money.... how much less is it?

araiwa · 15/06/2017 17:56

The estate agent is required to pass on every offer regardless of the offer being above or below asking price

UndersecretaryofWhimsy · 15/06/2017 17:56

You're being way too emotional about this.

They offered what it was worth to them to see if you'd accept it. If it's lower than you're prepared to go, reject it. End of.

People daring to want to change the floor plan of the house when it's theirs is not a mortal insult. In fact, perhaps you should consider it feedback that both prospective buyers have felt they would want to make major modifications. If it suits your taste a someone whose family is grown, it's quite likely not to suit the taste of someone starting out with theirs.

SisterMoonshine · 15/06/2017 17:57

Yanbu.
I don't get people who move into little 2 up 2 downs, build a massive extension and piss off their neighbours straight away.
Why not just get a property that suits you.

Whathaveilost · 15/06/2017 17:59

Two of my friends have had this.
Both more or less told them to bugger off!

One house was up for £275,000 for a quick sale ad that was a good 5k less than houses on the same street that were smaller. A family came round and when the wife went out of the room he offered her. £195,00 because he needed to build an annexe for his mother. That family were booted out of the house! She had a few cheeky sods trying it on. One asked if she could take the house of the market and they could 'come to some sort of agreement' She kicked him out as well and didn't find out what the agreement was.
Another asked her to take it off the market for 12 months because he might be able to afford it then!

In the end she dropped by 3k , is now settled in her new house and can laugh about it now!

harderandharder2breathe · 15/06/2017 18:00

£60k off a £750K asking price is not derisory, £60k off £150k is ridiculous. It all depends what you're asking whether £60k less is a bit cheeky or ridiculous

If you've been there 28 years it probably is dated.

If you have no pressing need to sell then just sit tight and wait for someone who will pay closer to the asking price. ask some other estate agents to value your property as well so you know it's a fair value

LakieLady · 15/06/2017 18:02

As a general principle, I'd never offer more than 90% of the market price to start with. Everyone puts their house on the market at the top of the valuation range, because they expect to get knocked down on the price.

Unless your house is so sought after that people are likely to outbid each other to get it, you're bound to have to drop a bit. 60k is a lot to drop on a £200k house, but not so much on a £600k house. (My BiL has just dropped £300k on his, but it was 2 mill, so still only 15%).

Their reasons are silly though, they should have just have said they think the price is a bit high for the area/condition/position or whatever.

JaniceBattersby · 15/06/2017 18:03

Crikey. You're not being expected to pay for anything. They put in an offer 60k below asking price because that is what the house is worth to them. You don't have to accept it.

If the house is worth 600k then that's 10 percent below asking which is completely normal for a first offer.

Buckle up, OP.

Osolea · 15/06/2017 18:04

If a property is very outdated, it's normal for lower offers to made.

peachgreen · 15/06/2017 18:05

Sorry OP but YABU. People offer what a house is worth to them. This includes knocking money off the asking price if they think there's work that needs to be done. I think it's pretty rare to offer the asking price - 10% below is fairly standard. If both the offers you've got have been £60k below I'd suggest it might be overpriced, but you can always hang on and see what happens.

UndersecretaryofWhimsy · 15/06/2017 18:06

Also, you aren't 'paying' anything. The price a house goes on the market at is not the same as what you are entitled to, or owed. It's a starting point for offers below that point, unless you are in a really hot and fast-moving market. A low offer is not 'costing' you anything.

wisteriainbloom · 15/06/2017 18:08

The house that we bought six months ago was on the market for 18 months. We offered 70k under asking price, no playing games or messing around, that was what we thought it was worth.

The owners had it on with three different agents over that period of time.

We got it for the price that we offered but I think it had taken 18 months for the owners to come round.

AlternativeTentacle · 15/06/2017 18:08

They offer x and you say yes or no. What is not to understand?

TinselTwins · 15/06/2017 18:10

If they're viewing other similar houses that in their eyes is finished better, and those houses are valued same as yours, then of course they'l deduct what they think it'ld cost them to bring yours up to similar standard

If you don't want offers market it as "offers over " - unless it's already down as that YANBU

we offered 10s of thousands less on our place and guess what? it was accepted, so we'ld have been idiots to offer full price

They are not UR, you would not be UR to turn them down. They problably won't up their offers though. Its up to you and whether you wanna play a long game

Your house is only worth what people are willing to pay for it! Not which EA valuation you like the most!

CheeseOfHearts · 15/06/2017 18:11

They can ask for whatever they like, for whatever reason. You don't have to say yes. Tell them no and move on. If there's been so much interest you won't have to wait long for a more sensible offer.

Floralnomad · 15/06/2017 18:12

If the only offers you are getting are all 50-60k below the asking price are you sure it's been valued correctly . As they say it's only worth what someone will pay .