To feel p***** off that we've found our dream home... But the vendor isn't accepting any offers even at the listing price.

[mummabubs]

DH and I have been house hunting for a little while. We found a property last week that's been on the market for 10 months unsold but ticked all our boxes so we figured we'd see it for ourselves. It's on the market for £425,000 (reduced in November from £450,000). I even took annual leave this afternoon so that we could view it without our toddler with us. Spent a lot of time researching the area, commute into work, cost of living etc.

When we got to the viewing this afternoon the seller was still at home, which we found a little unsettling but fair enough. House ticked all our boxes, for once the photos from the agent really did do the place justice. Perfect family home for us and we found it impossible when looking round not to imagine our son growing up there.

At the end of the viewing we were in the garage and seller was in the house so I asked the agent why in their opinion the house has been on the market for so long and not sold given that there doesn't appear to be anything amiss with the property.They explained that the seller is firmly resolved that they want £450,000+ for it so are simply rejecting every offer made. It's listed with another agent and they've independently confirmed the same is happening with them. Turns out the seller is also playing the agents off against each other by fabricating offers from each side. DH and I could afford the asking price (just) but the seller's goal is just way out of our price range. We still plan to make an offer tomorrow but we know it will be rejected, it's more just an exercise in closure for us as we really love the house.

Just feeling pissed off and deflated that not only have I wasted precious annual leave to go today but also fallen for a property that if it had been listed for what the guy truly wants we'd never have viewed in the first place. It's quite a unique property as it was bespokely built by the family who live there so not exactly easy to find an equivalent.

The games this guy is playing so far make me wonder that even if he did accept an offer from us (blatantly won't) he doesn't even seem that trustworthy to stick it out to completion.

AIBU to think that you should at least list your house for a price you want so as not to waste potential buyers time!?

Sorry, I did put paragraphs in before I posted my rant, promise! 🤦🏻‍♀️

Well, I guess that answers the question of why a great house isn’t selling. The guy sounds like he would be a nightmare to deal with, so it may not even be worth the hassle.

We had that when looking.
9 months later the house was repossessed and we got it for close on 1/2 what they were asking.

I think you're right. Just feels so deflating that right up until the end of that viewing we thought we'd finally found the house for us.

Whilst I agree with you, I was told to put a price range on - I needed a minimum of £x the EA insisted on putting a range 10k above to 10k below. I told them there was no way I could accept any less than the original. (30k lower than EA had originally valued it).

I was lucky that my buyers wanted it enough to pay what I needed but it just seemed crackers to me.

Wow Witchend, that definitely worked in your favour in the end! The seller is retirement age and he and his wife are looking to downsize. He built the house himself (was a builder by profession) so I understand he has an emotional attachment to the house but I just think if he's that keen to get a high offer (which clearly no one else, including us, think it's worth) he needs to make that clear in his listing.

Could you go and see the vendor?
It may not be simply about the money. If they have put their heart and soul into designing the house, it may be hard to let go.
You have nothing to lose by being honest about your finances and best offer.
He might want the house to go to a family who will love it like he did. Or he might just be greedy but you won't know unless you try.

Thanks for sharing Khione, it's helpful to hear from the other side of the situation. Apparently when it was first listed he also had an offer for the then asking price of £450,000 and turned it down as he wanted more like £475,000. I guess he's just not desperate to sell at all.

True FoobyDoo. I wondered today if he's stayed for all viewings to date. Sadly I sense it's the money but we did do our best to create a good impression today so who knows.

First three houses we offered asking price on the sellers wanted more.

Two of those houses have not been sold since

It sounds as if he's bowed to pressure from the agents to reduce the price. Rightly or wrongly they don't like it when property is on their books for long as it makes them no money.

I imagine he's thought 'i'll sell it but only for x,y z amount', and will wait for as long as it takes.

Agents have thought differently.

He's digging his heels in and being awkward.

It's very annoying. I recently had an experience of putting in an offer of £5k more than the asking price and it was declined.

Put the price you want and make it clear to the agents you won't take any less.

Since the vendors are retiring, they’re under no time pressure and can wait for the market to catch up with what the house is worth to them.

If I were you, since it’s unique, I’d put in a bid for the absolute most you can afford, stretching beyond the current asking price if you possibly can. Don’t play silly buggers and hold a bit back to negotiate with - tell them it’s your max and mean it. And alongside it I’d write a letter about what you love about the house and how you could envision living there with your family.

If they come back rejecting your offer then ask to keep it on the table. If the market doesn’t pick up quickly then they may well get back to you.

Is this some dickhead trying to prevent a separation?

Sounds like you like the house very much so someone else is likely to offer the asking price and he knows that. We put ours on market for £50k more than the agent valued it at and we got it too

You've got to ask yourself what's in it for the agent. Something isn't quite stacking up here. Why on earth would the agent spend time and money on this property if they are certain they aren't going to see it sold?

It’s sad isn’t it. Of course we all think our house we’re selling is wonderful but if noone’s offering what you want...

Fingers crossed for the hunt, op

I am surprised the agents would agree to market it at a price that they know the vendor will refuse to accept.

Unless it says ‘offers above £...).

It is deceptive.

I would be clear with the EAs that you can’t afford any more time viewing properties that won’t sell for the stated asking price.

sounds like he doesn't really want to move.
ps why is it odd the seller was in during a viewing?

I can’t help but think, if he doesn’t want to sell then why is it on the market? Maybe he needs to in order to downsize but he just can’t let go. I’d put your offer in and see what happens. If no one else thinks it’s worth it it’ll still be on the market in a few months and you can make another offer. I do wonder if he has a partner and if he’s telling them about the offers.... otherwise why would they bother reducing the asking price. It’s all a bit odd and as another poster said, may really not be worth the hassle.

We phoned about a property when we were looking and the agent told us straight off that the vendor wouldn’t consider any offers that weren’t over a certain amount -‘it was 30% over the list price!
I think they were fed up with wasting their time showing people round tbh. If I had the sort of money he wanted I still wouldn’t have looked at it either, completely unrealistic.

I wonder, if he built it, if he even wants to move? He maybe holding out on the fact it will never sell

Oh god we have a kind of similar scenario with the house we're buying.

Vendors were also retiring and downsizing but had lived in the house forever, brought their family up there etc, followed us round at the viewings talking about its history, quirks etc. All v interesting but v ott. .

It had already been reduced twice and swapped agents. It's still overpriced and the vendors are v. out of touch with regard to market values. They rejected our (generous EA and I thought) offer. Turns out they thought we were some incomers from the 'big city'. When they realised we were local, loved the area, sent our kids to the local school etc they accepted. It was definitely an emotional move for them.

So yeah, perhaps play the local/family/cherish card. Frustrating though. At least you can say you gave it your best shot.

I think the advice will have been to drop to 425k so it shows up in the Rightmove search results of people putting that as their max. Then hoping someone will stretch a bit. It's incredibly annoying.

They've got no intention of selling.

Walk away.