To think if you're offered asking price, you take it?

[frills474]

First time buyers here. Went to view a house last week, was told the vendors are in a somewhat desperate situation - they have found a house and were all ready to exchange, but then the chain broke beneath them causing the man buying their house to pull out. As a result, they are looking to sell ASAP and have priced the house competively for a quick sale.

We thought the house was nice - it had a few downsides but for the price we could live with it. We offered the asking price (£350k). We were then told the vendors actually want £10k more than this (360K).

I now have to decide whether to meet this, but I'm thinking I'm not willing to pay an extra £10k. I started thinking of the downsides of the house, and comparing the new price to other houses in the area, and thinking we could probably get something better for that money. Therefore, I'm thinking maybe I don't like the house that much if I don't want to pay the extra, and maybe I should just withdraw the offer completely!

AIBU to think vendors shouldn't turn their nose up if they're offered the asking price? AIBU to also think if you're offered the convenience of a chain-free buyer, maybe you should be prepared to accept a slightly lower price, especially if you need to move quickly?

All I know is I'd bit your arm off if you were offering on my house!

They are CFs.

I’m in Scotland where it’s offers over but I agree with you that if you’re in dire straits then you accept the asking price and also thank your lucky stars for a chain free buyer.

Don’t pay the extra 10k if you don’t want to. They’re the ones in a pickle, not you.

Sellers are mad. Why would you advertise your house for less than you’re willing to accept? I’d give them a time limit to make their minds up and tell them your offer will be withdrawn if they have not decided very quickly.

It’s like a larger scale version of when eBay sellers put something as buy it now or best offer, you make them an offer and then get a very rude message back about how it’s worth more than they’re selling it for and aren’t accepting any offers... if they want 10k more they should put the asking price at 10k more! (Although I’ve never sold a house so I don’t really know what I’m talking about)

You’re right - any vendor would be happy to have someone in your position offering. They’re taking the piss and seeing how much they can screw you for. We had someone do this to us and promptly withdrew our offer, despite them suddenly deciding to accept our initial offer - it was too late! We ended up finding something much better anyway.

Fuck em! Desperate situation my arse!

If you love the house and truly see it as worth the move, stamp duty, costs etc then stand firm on your offer.

If you aren't actually that in love with the house then withdraw offer and also offer them a little advice about being so cheeky.

give them a time limit to make their minds up and tell them your offer will be withdrawn if they have not decided very quickly

Yep do that ^^ they're trying it on. No harm in that but still doing it.

Was it 'offers in excess of',? which is, quite rightly in my view, widely hated on Mumsnet, as unless you have psychic powers, you have no idea what the sellers are expecting

They have got a quick offer so obviously think they've priced it too low for a quick sale. I'd just reiterate the offer is £350k, or walk away.

What a weird approach by them. YANBU.

No it didn't say OIEO

If you love it stand firm on your offer, if they're desperate they'll take it. If you don't love it walk away and like another poster said I'd say something about the cheekiness of it.

I would go back to the ea and say we’ll if they want £360k for it, that’s what it should be on at. Or £370k so they can negotiate down to an amount they are happy with and the buyers feel they have a bargain.

Unless you really love the house I wouldn’t budge on the £350k

Absolutely do not offer 10k more.

You're a first time buyer, finance in place I assume & can move quickly...you're a dream buyer & he should be biting your hand off.

Explain that to the estate agent & say you'll continue looking for properties. Rember house buying is business, you want the best price for your pocket, not theirs.

But no need to withdraw your offer, they have already rejected it. And if they come back in a few weeks time having reconsidered, you can either agree, or say sorry, too late!

You only know these “desperate situation” from the EA, and we all know their reputation for truth

It’s shit when a chain falls through, but it’s not always dire. If your vendor has the most easy to sell property in the chain, the whole chain may be prepared to wait for them.

If I put my house on for £350K and got an asking price offer straight away I would think I’d possibly pitched too low, and ask higher.

In your position, I wouldn’t waste my energy trying to decide whether they were cheeky for maximising their investment. I’d just decide what it was worth to me, make that my final offer, and put a time limit on it.

the asking price is irrelevant.The only relevant thing is whether you think the house is worth the extra £10k

Like a PP, I'm in Scotland where it's 'offers over'. I wouldn't have accepted on offer on the asking price of the flat I recently sold because there was no need to.

The sellers in this case though, sound like idiots. And it's possibly just cost them a sale.

Sounds like they priced it low hoping to start a bidding war - a big fat fuck off to that.

First house we put on offer on we offered full asking price - we figured it was a fair price.

We had mortgage in principle agreed and a decent deposit.

We were turned down and estate agent told us that going higher wouldn't work they were selling to some friends.

Apparently we'd also looked at grandmother’s house - we weren't interest it was way too small and overpriced.

The thinking was we’d offer on relative’s house and they had another buyer.

I know this as GM DP who showed us round stop in street and said this and we knew their neighbours via our children – when I got nosy and looked up house sale price it was 10K less than asking price.

It was lucky in many respect though as catchment ended other side of street and not as we’d been informed encompassing entire street which could have adversely affected our younger children.

I sold a place recently. It sold for £5k than the asking price & I was perfectly happy with that as I did by want it hanging around in the market. I would not have dreamed for asking more than the listed price - that’s cheeky!

An EA/vendor tried this with me recently. I offered full asking price, and the EA said vendor wanted more than the asking price, (not guide price) and could I manage a better offer. I stuck to the asking price and was accepted. They're trying it on!

I am guessing they have had loads of interest, and maybe another asking price offer, since dropping the price.

I once out an offer in on a house for 7k under the asking price. Owner was outraged & went about how they needed every penny for the new lace that they'd had an offer accepted on.

I said fine, their choice but I had a mortgage offer, no chain as I was in rented so walked away.

They didn't sell at the asking price, the market crashed not long after & once they did manage to sell, it was for 26k under the asking price.