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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

Houses and asking prices

29 replies

BananaPancakes4 · 15/09/2017 10:56

Went to view a lovely home last night with my DH and kids and we really loved it. It was only put on the market the day before and we are the second ones to view it. (A lady 20 mins before us) she liked it too and wants her husband to view it also.
We spoke with the owners and let them know we wouldn't mess them about we offered the asking price (this morning) and told them we'd be willing to wait (as they are moving to a new build) the lady offered below their asking price.
We are both no chain buyers.. Really don't want to end up in a bidding war with this couple but have viewed a lot of others and nothing came close really want this one.
Aibu to get my hopes up that they'll accept our offer of their asking price and not hope for more if they wait on her husband viewing it?

This is obv our first time buying and we respect that the owners have said they'd let the lady bring her husband out to see it as she was there first.. But wouldn't think much of them if they decided to be greedy if you get me when it's been on a few hrs and they already have their asking price and someone who will wait ...

OP posts:

TishHope · 15/09/2017 11:00

I am afraid that the seller can do what she wants, it is impossible to call. Why don't you start viewing some other houses, too? You might be pleasantly surprised.

BastardTart · 15/09/2017 11:01

But they are not being 'greedy' if they decide to accept a higher offer or if it goes to a bidding war. A house is worth only what someone is willing to pay for it. Their estate agent may have suggested to put it on the market at a lowish price in order to get people through the door, or to encourage a quick sale, or it may just be undervalued.

TheUnseenAcademic · 15/09/2017 11:01

I think that if they've got 2 bids within 48hours of putting their house on the market and multiple parties in strong positions interested, then they'd be unbelievably stupid not to wait a day or two for the lady's husband to view. It's not greed- it's sensible! Their asking price may be too low. My second house ended up in a bidding war and sold at a few K above the original asking price within 4 days of going on the market. It's frustrating, I know, but that's how the market works.

Allthebestnamesareused · 15/09/2017 11:04

We ended up paying £30k over the asking price on ours - bidding against 2 other parties.

Original poster

BananaPancakes4 · 15/09/2017 11:06

I suppose that's true. Its just frustrating also.

May start looking at some others

OP posts:

Original poster

BananaPancakes4 · 15/09/2017 11:07

My DH isn't willing to enter any bidding wars.. which is annoying too as I really don't think I'll like another house as much as this one..

OP posts:

Ronnyhotdog · 15/09/2017 11:08

A friend of mine accepted a lower offer on her house because she wanted that family to have the house. Sellers can do what ever they want.

VickieCherry · 15/09/2017 11:11

Why wouldn't they want to get as much as they can for the house? You would do the same in their position, I'm sure. A house is only worth what someone is willing to pay for it. That may be far more than the asking price, you never know.

RedHelenB · 15/09/2017 11:13

YABU- obviously they will want to get the best outcome they can which may it may not be your offer.

RedHelenB · 15/09/2017 11:14

I would definitely recommend looking at other houses too. You may find one that is cheaper and with an earlier moving date

TheMouseInMyPocket · 15/09/2017 11:14

Depends what the house is worth in the seller's head. We accepted an offer 8k below our asking price the day our house went on the market. Estate agent then phoned us saying there were other interested parties who would probably offer more, but we decided to go with the first offer, as it was more than we initially we thought we were gonna get anyway. It was the right thing to do, as they were brilliant buyers, and we went from offer accepted to completion in 6 weeks. So you might be in with the chance. Good luck!

flownthecoopkiwi · 15/09/2017 11:15

we liked a house that was a probate sale and on for £*50. Ended up going to seals bids because within a few days it had bids over the asking price. Paid £25k more.

thecatsthecats · 15/09/2017 11:17

If she's offered below asking without her husband even having seen it, they might just be 'placemarking', effectively. Her husband may well be reluctant to enter a bidding war either!

If you had a house to sell, would you be 'honourable' about the affair? This isn't gazumping or anything - you've said you're happy to wait, why on earth shouldn't they take you at your word?

FWIW, I've just bought. My boyfriend and I seem to be the only ones in the area who managed to negotiate a lower price on our house - everything else we viewed went for over asking. My sister is also buying and everything is going for over asking where she is too. Hard to see why. as although our house was priced above 'similar' 3 beds in the area, it was a) in much better condition, b) had a much larger garden and c) has parking, which is a massive problem in the area. Oh and d) a much more favourable location in the opinion of many - the others were closer to the high street, but it's incredibly congested with the aforementioned parking problems and noise problems, whereas ours is 5m away next to a park and an outstanding primary school.

existentialmoment · 15/09/2017 11:19

But wouldn't think much of them if they decided to be greedy if you get me when it's been on a few hrs

It's not greedy to get the best price you can for the biggest asset you will probably every own! If I were here I would absolutely wait and see if they came back with another, better offer. They'd be mad not to. If you offered full asking price the day after it went on sale it's a good bet they underpriced it.

IceCreamIScream · 15/09/2017 11:21

Unfortunately for you they can go with whoever they like. We had a few offers on our house, one at asking price and a few below. We went with a lower offer because those buyers were just in a better place financially to proceed and, being blunt, the people offering asking price seemed like hard work. We'd rather lose a few grand and have an easy sale than proceed at asking price with difficult buyers.

I hope your offer is accepted but it might be worth scheduling in some more viewings to at least keep the momentum going. Good luck.

lavenderpekins · 15/09/2017 11:24

Yabu we had to go 35k over the asking price for our house a year ago.. same thing there was one other offer.. in the end our agents (I didn't know this at the time) lied and told the other buyer we were cash buyers..

IceCreamIScream · 15/09/2017 11:24

And exisistentialmoment is right, they wouldn't be greedy if they held out for a higher offer. You don't really know their circumstances and the extra money really could be life changing for them

Bambamber · 15/09/2017 11:25

My husband and I lost a house that we both fell in love with the instant we walked into it. But we had a problem selling ours and the seller decided they didn't want to wait anymore and put it back on the market. We was devestated and I thought we'd never find one I liked that much. But then we found the house we're in now. Bigger, better location, and at a reduced price. Ok it needs a little work, but nothing straight away and feels very homely. Also turns out the buyer for the house we originally wanted fell through, so the seller came back to us asking if we wanted to put an offer in again, not a chance! But seriously, you never know what's around the corner. Something betteay well pop up and surprise you

CoughLaughFart · 15/09/2017 11:30

It all comes down to what the vendor thinks your position is worth. Let's say this woman offers £5k more, but is in a chain, or wants to move super-quick. The vendor may decide it's worth taking a lower offer to benefit from your lack of a chain and willingness to wait.

It's unfair to suggest they would be 'greedy' to take a higher offer though. Your house is the biggest investment of your life - you'd be a fool to lose out on making the maximum you can from it.

grecian100 · 15/09/2017 11:33

Why don't you do as a pp did and write them a letter saying how much you love the house? I'm joking

OP this is the way house buying goes I'm afraid. Properties are often priced below market value to get people in through the door. It isn't "greedy" not to give the house to the first asking price. It has only been on the market for 2 days. My dsis' house went into a bidding war and went £47,000 over the asking price. She took it off the market after the 27th bid came in as she was fed up and sold it two years later for much less.

Hope you get the house OP.

BestestBrownies · 15/09/2017 11:43

YABU and extremely naive as to how the buying and selling of property works. Valuations and asking prices are just a best guess and really only act as a guide. As harsh as it sounds, it's a business transaction and the best way to approach is with your head not your heart.

Moomintroll85 · 15/09/2017 11:46

You really have no way of knowing how this will pan out or what everyone's circumstances are. If they accepted a higher offer it's not really greed, wouldn't you want to get the best price possible if you were selling?

Buying a house can be an absolute shitstorm from start to finish. The first place we offered on I got myself into a complete frenzy and was so stressed about it from the start. It fell through due to a dodgy survey which was devastating but we got a much better place in the end.

You are at the first stage and it's really not worth getting worked up and setting your heart on this one yet. You may get it and all may be well but I would try to stay a little more detached as a lot of it is out of your hands. Good luck.

fabulousathome · 15/09/2017 11:58

Just to wish you good luck and think that perhaps, if you don't get this one, there is a better one on the horizon.

LeakyLittleBoat · 15/09/2017 12:28

They'd be fools to take less than they can get, they owe you nothing and it's nothing to do with 'fairness' regardless of how quickly you got your offer in; they are not obliged to accept it until they've signed on the dotted line of a legal contract. You've met asking price but the other couple may be willing to go higher or even stay a little below or just match your bid but have cash in hand and thus be better placed to proceed more quickly.
You need to approach asking as a starting point for negotiation rather than a set in stone final sticker price.

nocake · 15/09/2017 16:11

It's entirely reasonable to tell them that your offer is conditional on no-one else viewing the house and that you need a response quickly. If you do that they might call your bluff or they might accept your offer.

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