AIBU - negotiating offer

31 replies

Arsenalmama · 30/03/2021 20:53

Hi ! We put our house on the market three weeks ago. The EA suggested £270k because we had one of the largest gardens for a three bed plot on the development. I was slightly dubious because I thought that was way over inflated. However we agreed to see whether we could possibly get an offer around that price. We had about 15 viewings and not one offer, not even a single second viewing. Fair enough. We then reduced to £260k to which we are still getting viewings, we have had one second viewing and now an offer of £250k.

My issue is that I am trying to convince my hubby to negotiate with buyer and meet him half way at £255k. Hubby is ADAMANT the house is worth £260k when it isn’t. He keeps comparing it so house which sold not too long ago for just over £260k. I have gone to look at their house is basically it’s pristine and the garden is not that big or even done up! So I am trying to explain to him that people do not care about gardens as much as he thinks they do. He just will not listen to me. I am now getting very !!!!!! off because I am the one, with an eight month old, making the house spick and span ready the viewings!

The feedback is that the buyers love the downstairs and the garden but the bedrooms are a bit small, which is true. Therefore, the house just is not worth the £260k! They may over look it if it was less! We finally have a realistic offer and he is just about to turn it down! Am I being unreasonable thinking we will probably be on the market for MONTHS waiting for someone to buy our house at £260k?

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mummabubs · 01/04/2021 21:04

Hmm, that is a tricky one. I think that people in England are being told they can stop shielding from today? Might mean he does want to do a viewing at some stage. I guess if he instructs a solicitor straight away and gets the ball rolling that might give you the confidence to take it off the market... What does your agent think you should do?

It's just hard as although not exactly the same we offered on a property that we really, really liked, after some negotiation our offer accepted but they continued to market the house and then accepted another offer with someone who offered the same amount but was a cash buyer. It was a really horrible experience for us and meant that when we were contacted by the agent 2 weeks later to say that sale had already fallen through so would we like our original offer to be accepted we said no as we wouldn't trust the vendor anymore.

Original poster

Arsenalmama · 02/04/2021 05:33

@mummabubs

Yes he will be coming next week and you are right about instructing solicitors. Agent thinks we should carry on as normal with the viewings until he has been and seen it in the flesh. Such a rollercoaster! So close yet so far!!

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mummabubs · 02/04/2021 11:48

Oh gosh! Well I'm glad he's coming to view it, at least then you should have a clearer vision of what direction it's all going in - I assume once he's viewed if he's still keen you'll take it off the market at that stage! Fingers crossed for you 🤞🏻

Original poster

Arsenalmama · 02/04/2021 13:58

@mummabubs

Well he has given the estate agent his ID, mortgage in principle and his proof of funds. The estate agent has told him he will mark it as sold. I am just so nervous now. What if he comes and doesn’t like it!? So close yet so far! Don’t mind me I am such a nervous ned 😂.

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TheBitchOfTheVicar · 02/04/2021 14:12

I live less than five miles from you, tho not in Wym - I’d say £260k is a good price. But plenty of new/nearly new housing available around your way, I’d say.

Original poster

Arsenalmama · 02/04/2021 14:33

@TheBitchOfTheVicar

I live less than five miles from you, tho not in Wym - I’d say £260k is a good price. But plenty of new/nearly new housing available around your way, I’d say.

I wondered the exact same. Lots of new developments nearby which makes selling it trickier I suppose. However some lenders tend to have 85%+ LTV on new builds. We could not buy a new build when we bought our current place because we only had 5% at the time.

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