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

[user1483875094]

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!

Your house is only worth what someone will pay for it!

daisychain01

Having already been told to fuck off for that comment, your 'slow hand clap' is not really touching the sides.

To clarify it was in direct response to the 'young couple' comments, why on earth their age is relevant is beyond me.

As a previous poster said, house buying and selling really does bring out the worst in some people...

Yabu. Being emotional about a business decision is silly.

*This thread is everything that is wrong with the property industry

How much did you pay for your house 28 years ago? Why do you think you already own this £60k and that these buyers are trying to steal it from you?*

This.

It's kind of standard to put in low offer. Stick to your guns. We did and get what we expected.

You Sam be cheeky and I'll- mannered obviously. But if you're trying to negotiate in what can be a stressful and protracted process, I find insulting the people you're hoping to negotiate with to be an odd opening gambit.

Sam = can. No idea who Sam is.

Yep just say ' haha your're joking" and move on. There are more than one lot of fish in the sea!! I wouldn't of even said thanks before showing them the door!!

It depends if your house is overpriced. Our NDN inflated his house price by 30k (£160k from £130k). An offer was accepted but fell through & now house is on auction. If it's too high when the bank survey the house I don't think they'll giv a penny more for the mortgage regardless of how much
the seller wants.

Otherwise just sit & wait for the right offer. Don't take your house off the market as the estate agent may charge you. That's what happened to my mum.

I can understand the feeling. Bottom line on it though is

1. people can offer whatever they think is reasonable and fits with their plans.
2. you can accept or reject whatever offers you like.

You aren't "giving" them money, they aren't taking the mick. You just disagree about the value of the property. Given that 3 estate agents all came up with similar valuations, stick to your guns and wait and see what else turns up.

You really have been out of the game too long. It's not personal. Get over yourself. You may love your house but you're biased. The reason ppl visit so often is to see if they like it. And yes low offers are frustrating but some ppl are desperate and accept low offers. That's the game! If you don't want to play it don't sell! Like others have said it's only worth what someone is willing to pay for it.

Having already been told to fuck off for that comment, your 'slow hand clap' is not really touching the sides.

I didn't see the other comment, wisteria, but in any case two wrongs don't make a right - ageist comments of any description aren't acceptable.

A house is only worth what someone is willing to pay for it....

Well, in a poor market that might not be the case and you could take it off the market, let it for a bit and put it back on.
This seller doesn't HAVE to move.
Sometimes things are going on in the wider world, eg Indyref in Scotland, and sales slow down as everyone is waiting to see what happens. So you would hang on, not accepting 'what someone is willing to pay for it' until after the event has passed when you are more likely to get its worth.

If an offer is too low, don't accept it. If every offer is too low, consider whether you might need to reduce the asking price.

But whatever you do, don't get so emotional about it. I understand that it's been your home for decades, but to potential buyers it's just a house that they might consider making their home in, if the price is right for them.

Perhaps ask the estate agent to give you less information about the offers. Would it be easier to say a dispassionate "no" to a bland financial offer, if it didn't also stir up thoughts about your precious* home being changed to suit other occupants?

*This isn't meant sarcastically. Your home is a very precious thing.

Have you overpriced your house maybe? It may mean that much to you but if it needs an overhaul/modernisation then people won't pay the full market price as they'll have to put a lot of money in meaning the house won't be worth it.

The OP has already accepted a close to asking price offer.

Why don't people RTFT?

Estate agents usually market at the top end of the price range. A property is only worth what at least one person is willing to pay.

It is normal for young people to come in with much lower offers and I have found in my experience that older people think their property is worth more than it is.
If you have lots of offers near the asking price then they are asking the right amount - if you don't have offers or if the offers are much lower perhaps you are asking too much.

Feel for you OP, just been through this. Completely pissed off with time-wasting morons who can't look at a map/read the description/think the house should miraculously already be decorated/laid out etc to THEIR taste. Wankers the lot of them. Recently I have had to really force a smile onto my face while waiting for the latest idiots to waste my time (and theirs).

And it also seems like a lot of young people are incapable of reading

When you have lived in a house for along time and brought your family up there you do not see its faults clearly. If you view a house for the first time you notice every fault. You may need to reduce house if you want a quick sale with less hassle otherwise sit it out and wait for a better offer. You should decide what the lowest price you will accept is.

It is normal for young people to come in with much lower offers and I have found in my experience that older people think their property is worth more than it is
In my expierence its been a certain type of middle aged man who has been very arrogant and dies it to a few properties at the same time. They must think that people who live in a small town dont know each other or talk to each other! Its not about 'older people thinking that their house is with more because houses of a similar style, age and location go for roughly the same price. Estate agents do want the house to move after all!
Honestly you think people on MN had never heard of timewasters and chancers!

We have had this in a few properties now.
I just laugh at them and tell them if the house all these things they wanted it would be xxx higher price.
One of them was talking about a conservatory as similar houses on the street had them.
We said for 20k over the asking price, we'd do one for them

We had this - a low offer because they'd need to extend the kitchen. Dr, if there'd been a bigger kitchen the asking price would've been higher!! Some people are just spectacularly dim. If your house is priced right you'll get a good offer for it. Bear in mind of course that it may not be priced right - don't either be the nightmare greedy seller who insists on the notional 'value' of the house that nobody is actually prepared to pay. A house is only worth what it will sell for - the fact it's been your family home for ever sadly makes no difference either way.

Just Ignore then and wait for the right offer !

Don't even waste one iota of energy on this