Active discussions

Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

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:
Clymene · 13/08/2023 10:51

Don't backtrack and make out that you're not trying to capitalise on their misfortune.

You titled your post 'vendors divorcing - want to put in a cheeky offer'

And you finished your OP with:

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

At least have the guts to own it.

rainingsnoring · 13/08/2023 10:51

Leaving out the fact that the sellers are a divorcing couple, what do you think the house is worth, or worth to you? Offer that amount.

If it is still significantly over priced compared to similar houses that are actually selling, then go ahead and make a much lower offer. It seems likely, from what you have written, that they have massively over priced it, perhaps because they feel they 'need' a certain amount to buy two houses.

People on here get some emotional and offended about offers. Who is to say that the offer is cheeky rather than the asking price being cheeky? Was it cheeky when sellers accepted a 50% increase in price after 5 years when they had made no improvements? Is it 'cheeky' that many young people are prevented from buying entirely and being encouraged to take out 35/40 year mortgage terms? Much worse than 'cheeky' imo.

EldenRing4 · 13/08/2023 10:52

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 🤣🤣🤣

Exactly.
Also OP unless very desirable I personally wouldn't pay full price for a 'divorcing couple' house. As much as chain-free/cash buyers command a premium it's the opposite for these people. Depending on how acrimonious it is.. friends of ours have bought and had everything from one spouse hold it up out of malice, to the place trashed a few days before exchange.

Business is business. Misfortune doesn't come into it. ANYBODY trying to get rid of something quick has to accept a lower price.

rainingsnoring · 13/08/2023 10:55

'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.'

That obviously wasn't recently was it. Totally different with higher rates. The longer terms that are being encouraged are absolutely to most young people's disadvantages. Goodness knows how they will afford to pay as pensioners.

EldenRing4 · 13/08/2023 10:55

Also that aside if they bought last year it's definitely worth less now.
Selling in less than 2 years in a falling market... no brainer to think that they'll make a loss.
Whoever said 'give them what they paid' has clearly been living under a rock and has no clue about interest rate rises.

In fact many properties are just sitting for months.

Make the offer. They can reject or accept. If they accept it benefits them, if they reject then it doesn't. I have no idea why people get pissed off r.e. #cheeky' offers you are not forced to sell!

Namechangedforthis25 · 13/08/2023 10:57

They wouldn’t accept an offer £100k less than what they paid for

the market compared to last summer hasn’t reduced in the south - it’s simply gone up and down again since then

I’ll take a bet that there is no way on earth they will accept anything less than £860k - and there’s no reason for them to do so as there will be plenty of other people willing to pay that if not more

plus of course you are trying to benefit from their sadness

Neverseenbefore · 13/08/2023 11:02

How do you know they are divorcing? Who told you? If it was the estate agent, that’s very unethical. They are working for the vendors, not you.

Wednesdayonline · 13/08/2023 11:04

I'd make the offer. Perhaps they will get no other offers because they are overpriced compared to the houses around them like you've said. If they really do need to move quickly they'll accept it if they want, or they'll reject it and thatll be that. Silly to say you should offer more when it seems like comparable houses aren't worth that, just to try and spare them some upset in a difficult time. You don't know them, they don't know you, it's solely a business transaction. I'd just make your offer and explain surrounding house prices in the area as well as a falling market - so they know this isn't just a random offer it's based on research into the market.

XVGN · 13/08/2023 11:07

Wednesdayonline · 13/08/2023 11:04

I'd make the offer. Perhaps they will get no other offers because they are overpriced compared to the houses around them like you've said. If they really do need to move quickly they'll accept it if they want, or they'll reject it and thatll be that. Silly to say you should offer more when it seems like comparable houses aren't worth that, just to try and spare them some upset in a difficult time. You don't know them, they don't know you, it's solely a business transaction. I'd just make your offer and explain surrounding house prices in the area as well as a falling market - so they know this isn't just a random offer it's based on research into the market.

Voice of reason.

Megifer · 13/08/2023 11:11

But so what if op is trying to benefit from their sadness? I went in Wilko the other day and got about £300 worth of stuff for £100ish while 2 workers were very visibly upset at probably losing their jobs. Guessing I should have offered to pay full price to do my bit in trying to keep the store afloat so they might keep their jobs?

Or when I offered £700 less for my car because the owner said they needed a quick sale and I knew it had been advertised for weeks? Or is it only when its mega money should conscience come into it?

Cheeseandlobster · 13/08/2023 11:16

JMSA · 13/08/2023 09:35

Talk about profiting from someone's misfortune Confused

This. The word vulture springs to mind

rainingsnoring · 13/08/2023 11:18

'Whoever said 'give them what they paid' has clearly been living under a rock and has no clue about interest rate rises.'

Exactly. Why should anyone give them what they paid?
Does anyone ever suggest offering what they paid in a rising market? Of course not. Why do the Brits see houses as a one way ticket to wealth?

If you think it is worth £765 to you, taking into account comparable houses, offer that @Isitover23

AgnesX · 13/08/2023 11:19

Cheeky? Cheeky fucker more like but if you don't ask you don't get.

fullbloom87 · 13/08/2023 11:21

I wouldn't waste your time. It's a derisory offer and it is cheeky.
We run an estate agents and although yes we'd have to put your offer forward, the offer wouldn't be taken seriously.

girlygirly · 13/08/2023 11:23

"Thank you everyone. We are absolutely not trying to benefit from anyone’s misfortune"

So why mention in the heading? You are trying to benefit from someone else's misery.

Nice.

ladyvivienne · 13/08/2023 11:25

£100k less than they paid for it? You seriously think it's worth everyone's time? Behave yourself.

DrySherry · 13/08/2023 11:26

Just offer a bit less than you are happy to pay - leaving room to come up to your max if they reject. If that number is 765k then that's fine. You might get lucky, if you don't ask you don't get. What they paid for the house previously is of little relevance to what you are happy to pay.

GreenKimono · 13/08/2023 11:27

Megifer · 13/08/2023 11:11

But so what if op is trying to benefit from their sadness? I went in Wilko the other day and got about £300 worth of stuff for £100ish while 2 workers were very visibly upset at probably losing their jobs. Guessing I should have offered to pay full price to do my bit in trying to keep the store afloat so they might keep their jobs?

Or when I offered £700 less for my car because the owner said they needed a quick sale and I knew it had been advertised for weeks? Or is it only when its mega money should conscience come into it?

I agree, generally. Though the weirdest thing I find on Mn about house buying is the weird sense of outrage when people look up how much the house last sold for and get very indignant that the new vendors are selling it for x amount more. Lots of very indignant comments about it being outrageous that people think the house is ‘worth’ £20 k more a mere two years on with no substantial renovations.

I bought a house for £330,000 in 2017, did nothing to it other than a new kitchen floor and worktops, new bathroom tiles and painting it white throughout, and sold it for £480,000 in 2021. (And sold it without ‘staging it’, just giving it a good clean and retouching any scuffed paint.)

That was just what it was worth to the buyer, and the current state of the market for that location.

rainingsnoring · 13/08/2023 11:31

ladyvivienne · 13/08/2023 11:25

£100k less than they paid for it? You seriously think it's worth everyone's time? Behave yourself.

It's how markets work. Sometimes they go up. At present, the housing market is going down.

A friend of mine recently had her house valued (expensive part of SE). She also had it valued last year too as they were considering selling then. 100k difference between the two valuations, figures being similar to those being discussed here (slightly lower). It is not cheeky to say 100k less if that is the current market price. On the contrary, it would be stupidity to pay more.

Original poster
Isitover23 · 13/08/2023 11:36

rainingsnoring · 13/08/2023 11:31

It's how markets work. Sometimes they go up. At present, the housing market is going down.

A friend of mine recently had her house valued (expensive part of SE). She also had it valued last year too as they were considering selling then. 100k difference between the two valuations, figures being similar to those being discussed here (slightly lower). It is not cheeky to say 100k less if that is the current market price. On the contrary, it would be stupidity to pay more.

Show quote history

This is very clear from the markets around here (also south, near Winchester). We had ours valued in January and put it in the market in June. Between the first (January) and second (June) the valuation had gone down £75k.

I do believe they have overpriced it. They bought it at peak price, and it’s been on for nearly 4 months despite a price reduction of £50k.

OP posts:
Pinkitydrinkity · 13/08/2023 11:39

My friend bought a house from a divorcing couple who were not in good terms and it was a nightmare and took much longer than it should have. So that would deter me!

Noodledoodledoo · 13/08/2023 11:40

We offered on a house of a divorcing couple, were accepted, trying to get surveys etc done wife proved to be a nightmare - upshot we were being unfairly used as pawns in divorce settlement. House has not sold since ....... guess she got her way!

Don't assume they want out quickly....

MarshaArt · 13/08/2023 11:41

But this seems like a lot of money

Houses generally are.

LlynTegid · 13/08/2023 11:44

If only there was the same law on house sales/purchase in England as there is in Scotland. Instead of the spivs charter we have now.

There should be a blacklist of people like you OP, if you go through with it.

HavfrueDenizKisi · 13/08/2023 11:46

It probably is over priced especially in this market.

You offer what you consider appropriate.

They can say no.