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Original poster

To offer less than asking price even though it's offers in excess of?

283 replies

jnfrrss · 22/04/2018 07:34

This is in England, it was on at 460k, reduced to 440k but now says offers in excess of that. Seems funny to say excess if it's been up for sale for 8 months and not sold so reduced.

I want to offer 395k as thats what I think it's worth

OP posts:
Pengggwn · 22/04/2018 08:46

Bluntness100

I don't see it that way. They may be people who are prepared to accept something lower, but they may be like me: they said it because they meant it! In that case, they are absolutely entitled to be annoyed, because it isn't their fault the OP chose to ignore their stated minimum.

2andcountingtodate · 22/04/2018 08:47

I dont understand how its time wasting. Its just a phone call from the agent and you would have the viewing anyway. We saw a property we would have offered a lot less on if we had still wanted it. We were prepared to pay the asking price from the photos but the reality was the smell and sight of damp, blown old windows, a new build complex being dug out behind the garden and bad parking. No way would we offer that price.

People have the right to feel how they feel but if a seller finds themselves getting annoyed a lot by offers then they should consider their asking price. They should also consider their agent, one agent kept telling us 'oh they will definitely take less' on some of the OIEO houses.

Original poster
jnfrrss · 22/04/2018 08:47

Thanks sunshine, I agree! If you're the type of person that's offended then maybe they shouldn't put something up for sale

OP posts:
sonjadog · 22/04/2018 08:47

I find it odd that people get "offended" about offers too. It isn´t a personal insult, it´s a business transaction. If you aren't interested in the offer, you just say no.

Pengggwn · 22/04/2018 08:48

2andcountingtodate

Well, the phone goes and the agent says, 'They love the house and they want to make an offer'. And you get all excited because it's been months and you really want to sell. And then offer is significantly below your clearly stated minimum. So yes, I would see it as wasting my time and I would be annoyed. And the further below my stated minimum it was, the more annoyed I would be!

Pengggwn · 22/04/2018 08:49

'Offence' and 'annoyance' are different words. I wouldn't be 'offended'. I would be annoyed.

CoughLaughFart · 22/04/2018 08:49

What a weird mindset.

It’s not weird at all - it’s realistic. I’ve sold three houses; one for the asking price, two for under. When I was offered under the asking price I considered all factors (chain, did they need a mortgage etc.), but £50k under the asking price would have convinced me that a) we were too far apart to seriously negotiate and b) that this was a chancer probably trying the same thing with at least one other property at the same time. The worst thing is accepting an offer and then having the buyer pull out.

GoodStuffAnnie · 22/04/2018 08:51

Omg you're not offering low enough.

2andcountingtodate · 22/04/2018 08:51

Pengggwn i understand getting up your hopes but i still wouldnt be annoyed at the people offering- especially if it was happening a lot or if its been months without the offer you want.

Pengggwn · 22/04/2018 08:52

I'd be offended if someone said, 'I wouldn't pay £440k for that house unless you gold-plated it. It's a fucking dump.'

Annoyed, I would be if they couldn't read 'offers in excess of'. Grin

snewname · 22/04/2018 08:52

So what if they are angry or upset? It's a business deal. A simple yes or no is all that is required.

peachypetite · 22/04/2018 08:52

The first offer is nearly always too low, to test the water. Everyone knows that negotiation is part of buying and selling surely.

CoughLaughFart · 22/04/2018 08:53

If you're the type of person that's offended then maybe they shouldn't put something up for sale.

So they should just keep the house forever because they’re not interested in low offers? Get a grip.

GoodStuffAnnie · 22/04/2018 08:53

25k out of 420 - less than 5%. How can anyone describe that as significant?! Significant would be offering 300.

Original poster
jnfrrss · 22/04/2018 08:55

Well yes, don't put it up for sale unless you are prepared for negotiations.

Didn't Richard Branson buy his island for 100k even though they wanted millions to start with?

OP posts:
Permane · 22/04/2018 08:55

There is a new build on my road (in what was someone's back garden in a neighbouring road). They put it on the market approx 8 months ago for £645K. We were Shock Confused. It was then reduced to £595K, then £545K and now...£495K. STILL no takers. I'm not surprised at all as our house has a extra bedroom, an extra reception room, better access to the road and I don't think we would get anything close to that for our house despite it also having a new kitchen and new bathrooms (but to a higher spec). £450K Max. and really I think they will be lucky to get £400K for it.

If you think it is only worth £395K then you can't offer more than that. Some people just get greedy when putting their house on the market. You've got no way of knowing how they will react really - worse case scenario is that they say no and refuse to communicate further - but if you're not prepared to pay more for that house then you haven't lost anything and it is up to them whether they are pissed off or not.

Kahlua4me · 22/04/2018 08:56

I would put in an offer of what I think it’s worth, although will be aware that the seller may well reject. At least you then have a starting point and negotiations can begin.

Just because it’s probate doesn’t mean they will be happy to accept any offer to get rid of it, which is effectively giving the buyer money from the inheritance. There could also be their emotions caught up with the house, speaking from experience, so would not want to sell it for less than they feel it is worth.

When we sold my mums house, we went with the estate agent who I felt had a good measure of the area and the current house prices, not just the one who would put it on the market for the most.

The offer we accepted was lower than our asking price but I really liked the buyers and felt they would enjoy mums house. Probably too much emotion on my part, but grief played a big part in selling....

PattiStanger · 22/04/2018 08:57

I don't see why the OP has to worry about whether the vendors have their time wasted or they are annoyed.

She can offer what she likes, if their time is so precious maybe they have given instructions to the EA not to pass on any low offers and turn them down immediately and having a low offer has got to be way less annoying than having a house unsold for 8 months imo. At least there's something to start a negotiation with.

Every person for themselves in house buying, she's not trying to make new friendships

turnipfarmers · 22/04/2018 08:58

Offer it but don't expect any extras. We were forced to accept a lower price but then didn't include things that were going to be included - we would have left the kitchen appliances but in the end we took them with us, ditto the curtains as they fitted our new house. The money they had to spend exceeded the money saved.

Bluntness100 · 22/04/2018 08:58

Honestly if an agent said to me the seller said no and they are all annoyed you offered below their min I'd shrug and walk away. It would not stop me offering what I thought a house was worth and I can't imagine being annoyed if someone offered lower than my min, I'd either accept or reject. I certainly wouldn't get all huffy about it. In addition if it had been months on the market I'd know I'd substantially over priced it.

Original poster
jnfrrss · 22/04/2018 08:59

Kahlua4me sorry for you're loss Flowers out of interest how did you come to meet the buyers?

OP posts:
CoughLaughFart · 22/04/2018 09:00

I don't see why the OP has to worry about whether the vendors have their time wasted or they are annoyed.

Because they have something she wants. And if she convinces them she’s a timewaster, she may very well not get it.

Pengggwn · 22/04/2018 09:02

They can put it up for sale and not want negotiations if they want, OP. They have been clear about their minimum price. You are going to push ahead and offer significantly below that. Do so, but don't be surprised if you piss them off. They were clear.

SweetMoon · 22/04/2018 09:03

Offer what you think it's worth. End of the day it will only sell for what someone is prepared to pay for it and as it's been for sale for so long they would most likely at least consider your offer.

I don't see how it would offend or annoy anyone. If it's too low for them they will just say no. I also don't get the time wasting comments. Op is a serious buyer and not wasting anyone's time by making an offer.

Keep us posted, if you decide to make an offer!

MaisyPops · 22/04/2018 09:03

The bottom line is that your thinkinh seems to be it's a probate house so I should get away with being cheeky.

When my uncle sold a probate house they put OIEO. Nice house but needed some work. The OIEO price reflected that. He still had some piss takers and it really angered him because all he could think was they were cheeky fuckers thinking because someone has died they could cash in.

I agree with him.

When we looked for our new house we saw 2 very similar properties on neighbourong roads, about 50k difference between one and the other. One was done nicely and the other someone had passed. The difference was alreafy reflected in the price.

If you thought that's all it's worth genuinely then make the offer like you would if the homeowner was selling.
If you are really trying to lowball because the property at price is out your budget but you are chancing it because it's a probate house then that's poor tase to me.

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