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Original poster

What on earth are these people playing at making offers like this?

114 replies

Dreamiescat · 04/01/2024 20:52

Does anyone see any sense in this?

House for sale, needs some modernisation. It’s been priced to reflect the work that’s needed. We’ve had a potential buyer view 3 times now, saying they’ve had their eye on the house for a long time.

They made an initial offer, 10% below the asking price of £290k. They weren’t even proceedable at the time.

We declined, what’s the point in accepting when they couldn’t proceed anyway?

They’ve just got back in touch, they are now proceedable but have made an offer of 16% below asking price!

I know sales are slow at the moment but honestly, what is the sense in this?

Im actually annoyed at what feels like timewasting, I know I should take the emotion out of it but I feel like telling the EA to tell them to never contact us again (we won’t) 🤯🤯

Is this the norm? I can’t see the sense in this??

OP posts:
Dotchange · 04/01/2024 22:32

It’s not sold though, has it? Have you had other offers?

SgtJuneAckland · 04/01/2024 22:35

@TitsInAbsentia it can mean either they don't have the financing in place eg mortgage in principle or that they have a property to sell in order to go ahead but have not sold it/no offer on the table

TitsInAbsentia · 04/01/2024 22:35

Thank you!

BananaHammock23 · 04/01/2024 22:41

If you're absolutely unwilling to take below a certain price and it's non negotiable, tell your estate agent not to bring the offers to you

OneForTheToad · 04/01/2024 22:42

3 viewings in 4 months, looks like you are over priced.
What modernization is required and how have you calculated that it’s fairly priced? A new boiler? Rewire? New drive? New kitchen?
As others have said, building materials and labour cost a lot nowadays, plus the time and hassle. Gone are the days of house inflation making buying a house a one way bet.
16% off may be the best offer you’re going to get.

DappledThings · 04/01/2024 22:44

I know sales are slow at the moment but honestly, what is the sense in this?

The sense is that you haven't sold in a reasonable amount of time so they are trying to get the property for as little as possible. Perfectly normal behaviour, nothing to be suspicious of or to take personally.

AnotherAdventFridge · 04/01/2024 22:45

Very few houses on the market near us.
They either go in two weeks or are still on the market a year later.
I presume it is price but maybe you know better.

UsingChangeofName · 04/01/2024 22:47

Not a lot of interest but the whole area seems flat as a pancake, literally nothing is coming into the market and nothing selling.

Well, you've answered your own question with this comment.

One of my dc is in the process of buying, as are many of their friends, cousins, peers. They have 'watches' on houses they are interested in. They monitor prices. They monitor how long a house has been on. They know when they are in the driving seat.
Your buyers do too.
Ultimately it is a business transaction. They want a bargain, you want a good price. You compromise.
Whether you accept of not depends on how desperate you are to move, and what s happening to the houses you have on your watch list.

dieselKiller · 04/01/2024 22:50

If you don’t want to sell to them you don’t have to. But if you think poorly of people that have gone to the trouble of viewing your house and putting an offer in, what must you think of all the people that haven’t even bothered to do that?

beachlover24 · 04/01/2024 22:59

Oh dear! 10% under is fine surely? Even 16% under if you’ve been on that long.

It sounds like you’re maybe being a bit unrealistic about how the house is going to do. Sorry OP!

Janieforever · 04/01/2024 23:02

Oh op, maybe let your husband handle this if you can’t manage due to emotion. They have made a sensible offer based on the market. It’s not like anyone else wants to buy it.

let him decide if you can’t manage this,

Janieforever · 04/01/2024 23:03

Also, 3 viewings in four months you are significantly over priced. I’d consider biting their hands off.

KThnxBye · 04/01/2024 23:08

I’ve had offers accepted at 30% under asking. And I’ve accepted offers myself at nearly 15% under asking.

In buoyant markets.

I don’t see the problem.

SheerLucks · 04/01/2024 23:08

Janieforever · 04/01/2024 23:02

Oh op, maybe let your husband handle this if you can’t manage due to emotion. They have made a sensible offer based on the market. It’s not like anyone else wants to buy it.

let him decide if you can’t manage this,

Erm...

MrsSkylerWhite · 04/01/2024 23:10

Try not to take it so personally. There are always chancers.

Dogonalert · 04/01/2024 23:10

I don’t know if that’s the norm or not but your reaction is interesting. We offered a below asking price offer and the vendor behaved like we offended them and at that point I was very glad our offer was rejected - house buying and selling is a hard enough process without dealing with someone who so very easily takes offence.

Whatsthestorynow · 04/01/2024 23:11

Janieforever · 04/01/2024 23:02

Oh op, maybe let your husband handle this if you can’t manage due to emotion. They have made a sensible offer based on the market. It’s not like anyone else wants to buy it.

let him decide if you can’t manage this,

Say whaaaat?!

OneForTheToad · 04/01/2024 23:11

MrsSkylerWhite · 04/01/2024 23:10

Try not to take it so personally. There are always chancers.

Maybe that’s what the OP is with their asking price?

BenjaminBunnyRabbit · 04/01/2024 23:17

You've had three viewings in four months and no other offers so 10% under sounds about right.

It might piss you off to get them to come back with 16% under but they sound like savvy buyers who know what they are doing. Sorry but you don't because if you were serious about selling then you would now negotiate with them to agree a price you are both happy with.

What are you going to do? Sit it out and wait for another offer?

BalletBob · 04/01/2024 23:18

They've done nothing wrong.

They offered 10% under, which is very normal. Lots of people will say they always offer 15% under as standard.

In the time it took them to sell their home, yours is still on the market with no further interested parties. So they've - sensibly - reduced their offer to reflect the fact that your property is obviously overpriced and not in demand. You're clearly not in a position of strength due to market conditions and they've used that to their advantage to get the best deal.

The problem is that you are emotionally invested in a business transaction. I'd be very careful about cutting your nose off to spite your face here, unless you're happy to remain on the market indefinitely and just see what happens. You may feel that they've insulted you somehow with their offers, but they appear to be the only people interested in buying your property.

PastorCarrBonarra · 04/01/2024 23:23

I hope they up their offer and you get it sold, OP. It must be weighing on you after four months. Good luck.

KievLoverTwo · 04/01/2024 23:25

Janieforever · 04/01/2024 23:02

Oh op, maybe let your husband handle this if you can’t manage due to emotion. They have made a sensible offer based on the market. It’s not like anyone else wants to buy it.

let him decide if you can’t manage this,

The Victorians called and left a message.

'Kindly give us our schtick back.'

TeenLifeMum · 04/01/2024 23:38

In 2009 my parents offered 50k under asking price on a house - they worked out what they felt it was worth, what money needed spending and the top value of the house following the work that was needed. They made the offer and it was declined. 8 months later they got a call from the estate agent accepting as the owner had found a home and the price offered was enough. They were in rented looking for their dream home in a new area so hadn’t been in a rush.

a home is with what people are willing to pay. No point being offended, just say no.

Pemba · 05/01/2024 04:23

What are they playing at.....?
Well they're making a reasonable offer, based on what the market is like at the moment (flat or sinking) , how long your property has been for sale (a while, so they can see they have no competition for it), and what they can afford (maybe they've had to accept less on their current property).

They are just being sensible and are obviously keen on your house. You've had very few viewings after quite a while, sorry but you are being ridiculous to consider turning them down flat, you'd be shooting yourself in the foot to turn away the only buyers who are interested!

You could try a counter offer and negotiate to see if they will give a bit more. You yourself could then offer lower on your next place, everyone gets a sale, everyone is happy.

WaitingfortheTardis · 05/01/2024 05:28

If it's definitely fairly priced given what needs doing to it then I would wait for someone willing to pay more. Even in a difficult market Spring is when things will start to pick up. I'd also have a think about if the EA are any good and if the photos are decent. I wouldn't accept below 10% off on a 290k house and really I'd probably take 275k lowest, unless you are desperate to sell quickly in which case you may have to accept what you can get.

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