Offer

[PaulaP3]

I put in an offer on a house a couple of weeks ago, 14% under the asking price. The house has now been for sale for at least 6 years, and I think my offer was generous, all things considered. The property is very scruffy, dated and badly presented and located in an area that does not have good pricing power. However, the offer was immediately (and quite aggressively) rejected by the seller via the agents, who told me I was free to put in another offer. I immediately emailed back saying it is my best and final offer, since the property is worth no more to me, and that I would leave the offer on the table for a month, despite its rejection. The neighbouring house, which is bigger and in better condition, sold 4 months ago for a whopping £90,000 less than their asking price, and I stated this with my offer. The sellers are probably mid 60s. Is it likely I have picked sellers who are particularly greedy, stubborn, not very bright and slightly weird?

Probably l think all of the above. People can get a bit precious and delusional about property. After 6 years they need to get the message it needs a price cut or doing up

A few years ago l put an offer in on a flat. Seller wouldn’t confirm or deny, a few weeks in l pushed the point and he hinted for more money. I wouldn’t go higher. He hung on in there. Sold it eventually but for less than l offered 😂

Highly likely one of the couple doesn't want to move and is therefore making sure the place doesn't sell. Move on.

I told them that my offer will expire after a month - to close it all down definitely, and avoid being left dangling on a string. I am also wary that if you leave an offer on the table, the agent may just use it later to try to bid up other potential buyers, even years later, after you and your offer are long gone. I think it's illegal to misrepresent an offer, but I am sure some agents still do it.

@wowfudge. yes that crossed my mind. But I like to imagine an actual offer may at least create some tension between them, since they are wasting buyers' time.

I’ve had this recently. House has been listed with a string of agents for years and hasn’t sold. I offered 12% under asking and the agent came back to say it’s the asking price (or more). I shrugged and walked away.

Fivefourthreetwoonezero
I suppose as a rule of thumb, at this time of year, its mainly stubbornly overpriced houses that remain on the market, unsold from previous years. Probably best to stop looking until the new listings season, or else it's just a waste of time.