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

[jnfrrss]

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

Thank you.

I met him the second time he came to see the house and we were then in phone contact due to other problems in the chain. I really liked him and actually wished mum had met him as they would have had lots in common.

He took me out for lunch when we had finally completed the sale and I felt that mum would have been pleased that he was going to live there.

Why are you asking aibu then? You clearly have all the answers. Just make the fucking offer.

Yip

One of the issues with a Probate sale - I sold one in similar circumstances- is that you have four people all with very different expectations and their respective partners putting their two-penneth in. It will depend how long its been on as to how concentrated their minds are.

In my case, it was me, brother and executor solicitor involved. My brother lived near London and refused to accept that any house (we are in the NW) could possibly be for sale for £129,950. It was originally on for £140,000. We had no viewings despite all agents being in agreement on price for five months. We moved to another agent, dropped the price on the Friday and it was sold on the Tuesday.

But brother was not happy at £123,000 offer. Nor was I to be honest but what swayed us was this.

The buyer was a cash buyer, no chain, no mortgage did not want a survey nor search. Wanted to complete in ten days. Winter was coming, another six months of maintenance. Community charge payable and interest on the care home fees now due. Sold on this basis and bloody glad we did.

It was just business. He was buying two others to let. Sadly he died six weeks after completion.

They can only say no, though TBH people who say OIEO - to me both daft and offputting - probably will.

Some people won't budge from the price they say they 'need' , or think their house is 'worth', even after it's become clear to everyone else that they're never going to get it. Hence some properties languishing on the market for ever and a day.

When a potential buyer made an offer 50k below the asking price for our house we instructed the EA not to pass on any more offers from them. The processes following an offer going through are so stressful and difficult, we didn't want to deal with someone who was willing to put in what we perceived as a 'taking the piss/chancer' offer.

If thats what you think its worth make the offer. You are the one that knows the local market and what else youve seen for the same price.

Probate houses are funny. Different dynamics to owner occupied. The vendor doesn't have to sell so can hold out for a good price if they want.

In your circumstances I'd expect the offer to be declined. If its on at a new price and theyre getting interest they will hold out for a higher price.

What state is it in? Is it a doer upper?

The asking price is usually set by getting a few estate agents round and chosing the medium or highest price. Seems tge agent got it really wrong last time.

Thanks for explaining Kahlua4me, it sounds like a good outcome for all from the situation.

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My offer is irrelevant of it being a probate sale, it's just what it's worth to me. I think that's rude and inaccurate to say I'm taking advantage of a death!

silver
That's what my uncle did. Total piss takers aren't worth dealing with. It doesn't sound like a serious buyer (put it this way, you they have sold their house for 50k less?)

I'd be the same as silver and Maisie. I wouldn't want to deal with someone who did that. Even if they upped the offer to an acceptable number, I'd expect them to 'gazzunder' me later, or to start making a fuss about some triviality or other down the line and stalling. So I would tell my agent not to pass on any further offers too.

My offer is irrelevant of it being a probate sale, it's just what it's worth to me. I think that's rude and inaccurate to say I'm taking advantage of a death!
Hardlt an unfair inference when you combine unreasonably low offer with the 2nd post is about surely they wouldn't decline because it's a probate house and it's only a small amount difference to them all and the children would want the money.

If you are confident that is all it's worth and you know everything, why ask on here where most people have said it's not a fair offer?

If they are serious about OIEO then the agent won't be passing on offers below. So they won't have the opportunity to be offended.

If they're not quite so serious agents know how to pass on low offers without getting your hopes up.

And anyway, you aren't interested at near their asking price, so doesn't make any difference to you if they're pissed off, if they are. Otoh it might be they're fed up and just dithering about lowering the price again and snap up your offer.

I mentioned it being probate just because they might be more willing to accept it's worth less if it's not their house.

It's not worth what its on the market for else it would have sold. I can see why OO would be more dillusional about prices.

So it is about it being a probate house.

A house round the corner has been on the market for months, the last owner died. It is over priced, but has had interest. An offer was put in for 3k less than the asking price and they turned it down. It’s so sad to see what could be a lovely family home sat empty and I have absolutely no idea why they are holding out for the full price, except out of greed. (It is very much a buyers market round here, they are building new houses left right and centre on every scrap of land they can find, so buyers have a massive choice).
We offered 20k less to start with, but they rejected and ended up paying 5k less. We were still happy.

I'm not sure it is on for a reasonable price when it hasn't sold for eight months

What does it matter if they think she's a time waster. She clearly shouldn't offer more than she thinks it's worth to ensure they think well of her. That would be nuts. And it's not something that's one sided, it's a two sided deal. She has something they want too, money. They may not want to sell for what she's offering, but she doesn't want to buy for what they are asking. Either a deal can be struck or it can't.

Some mind boggling opinions on here. Who gives a shit if they think she's not serious or a time waster. She can't buy it at an over inflated price just so they like her.

I've had low offers on properties, I either said up it a bit or no. At no stage was I in some way offended or annoyed. If that's what they think it's worth or can afford, fair enough, my decision on whether to accept or not. I don't expect them to be offended or annoyed I said no and wouldn't give a shit if they did. So again it goes both ways.

Op. Offer your price. If they don't want to sell for that walk away. Their sensitivities and feelings are their problem.

It is a simple business negotiation. Being 'offended' doesn't come into it.

Part of negotiating is being able to offer something in return - for example, a lower offer may be looked on more favourably if you are a cash buyer, or not in a chain.

The seller is very likely to view this as simply the opening of the transaction, and so should you OP.

without knowing in full the sellers' circumstances (other than that it's a probate sale) you can't really guess how they will respond to it.

You should make the offer (which will probably not be accepted) just so you can move on one way or the other.

There is no "what it's worth" except what the buyer and seller agree on, so just call the agents and give them a number.

I'm not sure it is on for a reasonable price when it hasn't sold for eight months
Because the market isn't good.

We looked at quite a few properties about 18month-2 years back. Quite a few had been on a while.
Also some were bought when prices were high so they couldn't reduce their price because it would cause them issues.
Then factor in new builds going up all over the place and the fact not everyone wants to do work on it.

Or there could be disagreements between the children.

It's funny how wanting to get the asking price when it's probate is being called greed, but not when selling your own house.

Don't overthink it. It's a business transaction so take out the emotion. Offer what you are willing to pay and carry on viewing others.

Also, the property market in my area is very depressed at the moment and it's not usual for houses to remain unsold for 8 months or more.

Sooner or later the sellers will recognise that a house is only worth what someone else is prepared to pay for it.

You’re putting in an offer for a house, regardless of circumstances (they are irrelevant but do understand what you meant about to the current owners it’s a joint ‘asset’ now not their current home) - make the offer. The value the estate agent puts up can often be way off the mark, dip your toe in the water and see what happens. The agent might well come back and say they won’t accept less than X then you can choose to begin the negotiation game or walk. What have you got to lose?

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

It's not unusual.

(Now I am channelling Tom Jones)

Make the offer
They may say no
A house is only worth what the best offer is
Depends how long they want to hang on to an empty house 🏡

Well there is no point in you making an offer of more than you want pay, so offer what you think it is worth. They can either accept or not. It depends how long they are prepared to wait, especially as there are signs that housing prices are set to fall.

I am that people are fussing that you might offend the vendors, that really isn’t your problem. It is a financial transaction when all is said and done, the house isn’t worth extra just because it was once a happy family home.

My PIL spent their life restoring their house, it was their dream home, but my MIL had to drastically slash the price to get rid of it two years ago.