Vendors Divorcing - want to put in a cheeky offer

[Isitover23]

Hi

we viewed a property a few weeks ago that is over our budget.

It was originally on for £950,000 in May and has since been reduced twice by £25k a time, and is now advertised for £900,000.

we know they are divorcing but the EA said they aren’t in a rush to move! It’s a lovely house but does need a bit of work. We are in the South.

if we were to offer, we would want to put in a cheeky offer and I was thinking 15% below the asking price (£765,000). We aren’t in ‘love’ with it so wouldn’t be too sad if the offer isn’t countered! But this seems like a lot of money and is nearly £100k less than what they paid for the house last year when they bought it.

has anyone has any experience with a vendor divorcing, as I would think they would just want to see to enable them both to move on?

thanks

I would just add that I did have a lowball offer, and the agent did his job and also said she was a time waster.

It was worth to me to have the house on the market for as long as possible because the mortgage was paid - so it's not the case that divorcing couples means a quick or cheaper sale. It can mean the opposite!

Offer what you think it’s worth. Them divorcing makes no difference to you. It might make a difference to what they decide to do.

But you are trying to profit from their misery! That's exactly what you're doing.

Take a long hard look at yourself.

Aren’t you a delight …

like anything it depends what the house is actually worth. Comments like £765k is “a lot of money” are meaningless. Obviously it is (though not for houses where I live) but it depends what the market it like etc. Prices have softened recently obviously and clearly it was over priced at 950 and perhaps at 900.

Seems hugely unlikely that it’s anywhere as low as 765 tho. There’s cheeky and there’s just deluded but you do you.

The main issues with buying from a divorcing couple is - are they on the same page or is it non-amicable. And are they both having related purchases - which can be a nightmare. I’d avoid if two split chains. Different if no chain, one renting.

id be thinking of that before trying to take advantage of two people’s misfortune. Divorcing people aren’t morons. They should know what their house is worth and if anything will be trying to maximise their pots to start their new lives.

Hope you never get divorced OP
🥹

We offered in a house where the vendors were divorcing and apparently did want a quick sale. They were asking for offers around £335k - £350k. We offered £335k and were refused and told they wanted the higher end. I was confused as I thought they wanted a quick sale and didn't think offering the lower end of their scale was cheeky. The ended up selling a few months later for £325k so lost out and we bought a bigger house up the road for only a few thousand more than we'd offered.

Offering almost £150k lower though... If they're going to lose a hundred grand in that sale, I'm not sure it's even worth offering as they obviously won't accept.

They’re divorcing, not stupid.

Oh I've just realised it's £100k less than they paid for it. In that case, they won't be able to accept it will they? Unless they want to literally give you £100k for taking it off their hands.

But ordinarily, its not cheeky to go in with a low offer - it's normal. It's ususally the asking price thats cheeky! not the offers.

Depending on their deposit they may not even be able to afford £100k less than they paid. One year doesn’t give long to pay a Chuck of mortgage.

Tbh if we were selling, for whatever reason, I’d assume anyone offering 150k under the asking price couldn’t actually afford the house so would reject and not negotiate. I’d assume if we accepted higher they drop the price just before exchange.

I had a buyer try to do similar (but worse) because they knew I was heavily pregnant and they assumed I'd be desperate enough, I told them to fuck off.

What does it matter if you think op is a nasty chancer, op should offer what they want to pay (or under so there is bargaining room)

What about if the couple were desperate to sell and priced the house at 750, would the op be taking advantage by not offering to pay 950?

Are the couple chancers for inflating the house price based on time?

It's a business decision

Think you are being a bit disingenuous here OP. Without a doubt you’ve said that the fact of the vendors divorcing gives you an angle for a more than cheeky offer.

Otherwise, it’s just a question of the house being overvalued compared to comparables. Which you only mention in your second post ….

There is a chance that one or both of them
insisted on an over optimistic asking price because they’ve got to house two households from the proceeds.

Absolutely this. That isn’t a cheeky offer it’s insulting and even if you then came back with a proper offer I wouldn’t accept it.

The op is not gazundering- it's an offer

We did similar (although offered £225k on a property on for £235k which had recently been dropped from £240k. This was 10 years ago).

Came back to bite us for reasons directly related to our ‘low’ offer.

It took 23 weeks to exchange… we were in a rush to move.

Just as a word of warning.

They might be desperate to move but they also might need every penny as they will need to buy or rent two different houses. Personally I think you are going too far.

It always makes me laugh when I see how emotional people get about house prices. It's nothing but a business transaction. Not something to take personally.

It's a business transaction. The sellers can accept, reject or negotiate with you.
Nothing wrong with a low offer at all, go ahead.

Snap 👍

But sellers taking advantage of the ridiculous inflation and selling houses for 10s of thousands of pounds more with zero work done is fine?

Loads of younger people have been impacted by wage stagnation & ever increasing high prices. Aren't they being taking advantage of having to have 30 yr plus mortgages?

Rubbish. There is no business involved as far as we know. I think you mean financial.

The OP seeMs to be rubber necking their misfortune though. Yes it's an offer but the OP refers to circumstances and taking advantage of it. Then claims they aren't when called out on.

Okaaaaaay

Your offer is your offer regardless of the vendors circumstances.

The way you worded your op appears to make it look like you are rubbing your hands together in glee because a divorcing couple may wish to sell quickly and accept a low offer.

There's nothing wrong in thinking that but it is poor taste to mention it to anyone.

Just offer what you want go pay and see what happens.

People get so emotional about houses. It's just a business transaction. Of course you want to pay the cheapest price they'll accept, and a divorce does usually mean that they're more motivated to sell.

You are not under any obligation to pay them what they paid at the peak of the market and they must know they're unlikely to achieve that.

I have an EA in the family and they won't feel angry or upset or any other emotion about your offer - they'll put it forward and give you the vendor's response, that's all.

The vendor may well think it's a bit cheeky and reject it but who cares? They'll be doing the same when they're offering on their new houses in a few months unless they're financially incompetent.

It's a business decision

It is, but one with emotional and practical aspects to it. OP seems to be interpreting the knowledge that the vendors are divorcing as a sign that they have to sell and therefore may accept a lower offer to secure that sale, but I'd say it's just as likely - especially given the EA's comment about them being in no hurry - that getting enough for the property to put them in a workable financial position going forward is actually the priority.

It always makes me laugh when I see how emotional people get about house prices. It's nothing but a business transaction. Not something to take personally.

It's odd. Also the weird acceptance that the sellers always price the house right.