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Original poster

Vendors Divorcing - want to put in a cheeky offer

176 replies

Isitover23 · 13/08/2023 09:31

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

OP posts:
dramoy · 13/08/2023 10:08

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.

i think it's just as likely they want to get as much as possible to fund 2 houses. Also if a house has been reduced by 50k in the space of a few months it's overpriced imo.

Ollifer · 13/08/2023 10:08

I was on the other side of this! Divorcing and had to sell quickly, so many cheeky offers. In the end had to accept below what it was worth as they wouldn't increase at all, and even after they tried to knock off even more after the surveys. It made a horribly shit time even more shit. I used to sit and cry most nights over the house sale. But you crack on op , hope it benefits you at least :)

Edwardandtubbs · 13/08/2023 10:08

We bought from a divorcing couple and it slowed everything down - I wouldn't assume a quick sale.

In our case the delay was caused by mental health issues of the spouse still living in the house that had been brought on by the split, but you could find that half of the couple wants to frustrate the process, they change their minds (!) or simply as pps have said it will take longer due to 2 people who may be at odds trying to agree on everything / sign documents.

Crazycatlady83 · 13/08/2023 10:10

It is a "business decision" - I rejected a "cheeky offer" and refused to have any other dealings with the prospective buyer (even after the EA said she was "in love" and "desperate" for the house) because I was quite sure we would get to exchange and she would try to knock me down. Her integrity was through the floor with me. Sold to a lovely young family in the end for only £10k under asking.

dramoy · 13/08/2023 10:10

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.

When someone sells for way more than they paid do they feel bad at ftbs getting more priced out?

Chowtime · 13/08/2023 10:10

The moral of this story is never to make it widely known that you are a divorcing couple. The better way to market it is as a "couple who are downsizing due to them getting older or the kids leaving home"

Soontobe60 · 13/08/2023 10:19

dramoy · 13/08/2023 10:03

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?

Both of my children took out 35 year mortgages when they were in their early 20s. It meant they could get on the housing ladder sooner, and both managed to overpay in the first few years. They have both moved into their second properties, and the new mortgages are for a shorter term. There are many younger people who have benefitted from 35 year term mortgages.

Thewallsof · 13/08/2023 10:19

Iean it's ethically gross but you obviously don't mind that so...

Meatus · 13/08/2023 10:23

Why don’t you try and find if they’ve have any other personal tragedies?

Loss of a parent would mean you could knock at least another £15k off. Imagine if they’ve lost a child- they’ll practically pay you to take their house.

Clymene · 13/08/2023 10:25

I would think they would want to get back what they paid for it. If you offered that, I'd tell you to sod off

XVGN · 13/08/2023 10:28

Soontobe60 · 13/08/2023 10:19

Both of my children took out 35 year mortgages when they were in their early 20s. It meant they could get on the housing ladder sooner, and both managed to overpay in the first few years. They have both moved into their second properties, and the new mortgages are for a shorter term. There are many younger people who have benefitted from 35 year term mortgages.

Show quote history

That worked in the time abnormally low interest rates, but the benefit at normal interest rates is negligible. Terms over 25 years are just another prop to help sustain unfeasible house prices, and a way to sucker people into debt.

Original poster
Isitover23 · 13/08/2023 10:29

I have re-read my OP and can see that perhaps I didn’t explain it very well. We had already discussed the price, looked at similar houses (we are near Winchester) and what we thought it was worth BEFORE finding out the reason for them moving. We discussed this after the move and only spoke to the EA yesterday. But yes, I did think this may have meant they would have wanted to move quickly, but this is NOT the reason for our price consideration. Most similar properties (4 bed detached) are around £75-£100k cheaper.

contrary to what people likely think, I am not a cold hearted person and know how much divorce affects people.

OP posts:
YetMoreNewBeginnings · 13/08/2023 10:30

Isitover23 · 13/08/2023 10:29

I have re-read my OP and can see that perhaps I didn’t explain it very well. We had already discussed the price, looked at similar houses (we are near Winchester) and what we thought it was worth BEFORE finding out the reason for them moving. We discussed this after the move and only spoke to the EA yesterday. But yes, I did think this may have meant they would have wanted to move quickly, but this is NOT the reason for our price consideration. Most similar properties (4 bed detached) are around £75-£100k cheaper.

contrary to what people likely think, I am not a cold hearted person and know how much divorce affects people.

When you title your thread as you have people are going to assume that it is indeed the reason for your price consideration

Original poster
Isitover23 · 13/08/2023 10:31

I understand that.

OP posts:
dramoy · 13/08/2023 10:32

Both of my children took out 35 year mortgages when they were in their early 20s. It meant they could get on the housing ladder sooner, and both managed to overpay in the first few years. They have both moved into their second properties, and the new mortgages are for a shorter term. There are many younger people who have benefitted from 35 year term mortgages

Different ball game when interest rates are not so low.

dramoy · 13/08/2023 10:32

Also I'm sure they've been impacted by wage stagnation.

ArcticSkewer · 13/08/2023 10:33

I'd be pissed off at my ea for giving that as the reason. It puts some people off altogether and attracts sharks looking for a cheap property. Bit like probate sales.

If the sellers themselves told you, well that's their look out.

I'd avoid buying a house from a divorcing couple personally - you might get caught up in a protracted sale if one of them doesn't actually want to sell at all and keeps refusing to give information etc or cooperate. Equally, one might be looking to buy the other out and using this to test the market rate, letting you pay fees etc before pulling out of the sale.

dramoy · 13/08/2023 10:33

There are many younger people who have benefitted from 35 year term mortgages.

I'm sure more would have benefited from lower house prices vs wages...

KievLoverTwo · 13/08/2023 10:35

Would you offer 15% less if you didn't know their circumstances? If yes, do it.

I imagine the EA would have seen far worse offers in this market and it sounds as though your vendors bought at the peak of pricing, which was their mistake.

Moveoverdarlin · 13/08/2023 10:36

I bought my current house from a divorcing couple, it was a similar price to what you’re talking about. They both (husband and wife) needed a certain amount from the house in order to start again and buy new properties. I had a conversation with the wife at one point during the selling process and she said ‘this was my dream home, I never thought I’d be selling it’. They even got married here and held their wedding in the garden. I really felt for her, she was heartbroken, so tread carefully, don’t insult them with a stupid offer, which yours is if you really want the house, they’ll just think you’re time wasters. You don’t sound too bothered about the house anyway. I would personally need to love a house before forking out the best part of a million quid.

Original poster
Isitover23 · 13/08/2023 10:38

KievLoverTwo · 13/08/2023 10:35

Would you offer 15% less if you didn't know their circumstances? If yes, do it.

I imagine the EA would have seen far worse offers in this market and it sounds as though your vendors bought at the peak of pricing, which was their mistake.

Yes, this is what I haven’t explained very well. I apologise for not being clear!

OP posts:
GreenKimono · 13/08/2023 10:39

I think the EA was silly to tell you they were divorcing. Many people, with good reason, wouldn’t make a serious offer on a house in those circumstances, as the possibilities of something going wrong/miscommunication/someone dragging their heels/changing their mind etc are doubled if the vendors aren’t selling as a ‘unit’.

My sister was pretty much at the point of exchange after a very lengthy process when one of the divorcing spouses refused to proceed because the other one had started a new relationship and wanted the sale to go through asap to facilitate a new home together. She walked away, after wasting months and spending money on a survey etc.

TiredandLate · 13/08/2023 10:41

Why are you entertaining this property if you don't love it, you think its £100k overpriced and there are plenty of other options?

FairAcre · 13/08/2023 10:42

Isitover23 · 13/08/2023 09:47

Thank you everyone. We are absolutely not trying to benefit from anyone’s misfortune and only found the reason out for the selling recently. Most comparable houses in the road are on the market/sold for circa £800,000 so I think the EA has overpriced it.

we are proceedable , but will perhaps look at another on the street as these seem more reasonably priced

Actually from what you have said that is exactly what you are trying to do. Benefit from someone's misfortune.

Megifer · 13/08/2023 10:48

Go for it OP. Sellers generally have zero consideration for buyers misfortune when they've accepted an offer and someone comes along and offers more 🙄

I don't believe for one minute anyone on this thread would ever say "awww but even if they'd accept £100k less its a bit tight" in real life 🤣🤣🤣

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