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Original poster

Vendor not budging on house price

126 replies

BananaMoon4 · 12/08/2025 21:36

Hello Mumsnetters,
We have sold our house and about to exchange. We found a property that we like, that ticks almost all of the boxes, but is located on a very busy and fast moving road. The house has been on the market for 6 months, having also been on the market last year for 6 months. Last year, they had 'a buyer' that offered their asking price, but ultimately this buyer did not proceed as apparently there was an issue with their mortgage. So essentially, they had no buyer!
There are 3 other houses on this road, all priced 100k less, who have also been on the market for 6 months plus. The reason we want the house over the others is because it has a bigger garden and a separate annex for my mum.

We offered 8% below asking on this house and it was rejected, with the owners citing 'we got the asking price for it last year' (which has made me mad as they clearly didn't get the asking price from a proceedable buyer or it would have been sold!)

As soon as we find something we are ready to exchange on our house. Our AIP and solicitor is ready to go. The vendor has said they will accept 2% off their asking price (for reference, the house is just under 1m)

I am getting super frustrated as we have accepted a 5% below offer on our own house due to the market being a buyers market at the moment.

I suppose I am just looking for some advice, for someone not emotionally connected to this, on how we should proceed. My thoughts were to place a 5% below offer and walk away if they don't budge. The reason being the house is overpriced (but suits our needs) and is on a road that we will likely struggle to sell again in the future as it's so busy (but it's going to be our forever home to raise our family, so I'm not too bothered about that)

I also want to feel like I have got a good deal (who doesn't?!)

Should we just keep looking?

OP posts:
Vynalbob · 13/08/2025 18:21

I'd decide the maximum you'd pay, then offer it. If it's not accepted then walk.
Really all that you can do.

FridayFeelingmidweek · 13/08/2025 19:06

They obviously aren't desperate to sell so there is no reason they should take 8% off. I get why you might be annoyed if they were keen to sell, but this seems more your issue. For all you know, they genuinely might be happy for it to sit on the market another yeat. No point getting frustrated at something you can't change.

GiveDogBone · 13/08/2025 19:11

If you want to overpay for the property then pay their asking price. Otherwise look for somewhere else. The housing market has categorically fallen since last year and everybody knows it.

rainingsnoring · 13/08/2025 19:13

I agree with @FridayFeelingmidweek that there's no point in getting frustrated as you can't change the seller's behaviour and decisions, anymore than they can change yours.
I also agree with @GiveDogBone about the market falling.

Newgirls · 13/08/2025 19:28

Op there will be more houses come on in sept and you will be in a great position as under offer/sold. I’d wait now and see what comes up.

SkylarFalls · 13/08/2025 20:03

rainingsnoring · 13/08/2025 12:37

Why do you think that you can get a higher price if you just wait? If you list your car or clothes online for an unrealistic price, they don't sell, however long you wait. In fact, things like cars or electrical items, probably clothes too, will devalue over time.
As I've said wrt the housing market, this technique can work well in a rising market. In a falling market, the property is v unlikely to sell and is either removed from the market or the seller lowers the price eventually.

Show quote history

Because you can. That's the edge professional resellers have: storage! They aren't tripping over the item that's in their way and needs gone ASAP so are in a position to turn down offers and wait

It can be the same with houses. The more of a deadline you have the more likely you are to need to just take what's on the table at that time!

If there's no urgency to your move, you don't need to.

rainingsnoring · 13/08/2025 20:15

SkylarFalls · 13/08/2025 20:03

Because you can. That's the edge professional resellers have: storage! They aren't tripping over the item that's in their way and needs gone ASAP so are in a position to turn down offers and wait

It can be the same with houses. The more of a deadline you have the more likely you are to need to just take what's on the table at that time!

If there's no urgency to your move, you don't need to.

Show quote history

I don't think you have understand the point I made.

TheCurious0range · 13/08/2025 20:23

There's a 60k difference between what you want to pay and what they've said they will accept. How much will it cost you to move twice, plus rent for 6 months? (You're unlikely to get a tenancy much shorter) Add that amount to your offer plus a bit for the convenience of not having to do it all twice and try again. It'll bring you much closer to what they want

ilovegranny · 13/08/2025 20:32

I wouldn’t reduce my price just because you wants a deal! Start looking elsewhere or up your offer.

soupyspoon · 13/08/2025 20:33

Sorry to be blunt but you either want it or you dont.

The price is the price, pay it or dont pay it. You cant be 'mad' at the vendor for setting their stall out. If you want it, then do it.

Or find another house that ticks all these boxes for a cheaper price.

Linenpickle · 13/08/2025 20:41

You asked for 8% off, they said no but offered 2%. So counter offer with 6%. If you make that offer the agents have to ask the buyer.

Amonthinthecountry · 13/08/2025 20:41

I’m positive I overpaid for my house. But it’s exactly the house I want and I never ever want to move again. The location is spot on, lovely neighbours, near to family, stunning views, a lot of history to it… but I know almost anyone else would have run a mile. It has some weird covenants, no parking and will need a lot of work doing at some point. But at the end of the day, it was worth the money for me and I don’t regret it for a second. If you can afford it and it really is perfect for you, I think you should go for it.

Pessismistic · 13/08/2025 22:29

Would it not be cheaper to get one of the other houses and build an annexe? Just go back to the agent say fine we will look at the other houses in the street but if they’re being stubborn they can obviously afford to wait it out.

HatandCoat · 13/08/2025 22:35

Pessismistic · 13/08/2025 22:29

Would it not be cheaper to get one of the other houses and build an annexe? Just go back to the agent say fine we will look at the other houses in the street but if they’re being stubborn they can obviously afford to wait it out.

The OP has said the other houses on the road don't have room for an annex.

soupyspoon · 14/08/2025 08:36

Pessismistic · 13/08/2025 22:29

Would it not be cheaper to get one of the other houses and build an annexe? Just go back to the agent say fine we will look at the other houses in the street but if they’re being stubborn they can obviously afford to wait it out.

She has already said the other houses have smaller gardens so less opportunity for this

I have to say there is a lack of recognition of the price that these things cost from OP. We live in a bog standard 3 bed semi, not massive, south east but outside London, and I had someone round to look at the loft to give a ball park figure of loft conversion prices, he said between 40-60k now

Not worth it for our house, its only worth about 300k tops!

Put me right off

So on a million pound house in London, an annex being built, planning, surveying, architect costs, it would be a huge cost. PLus the time and hassle of it, pay the money now and be done with it.

All this talk also of moving into rented and waiting for another property! OP has kids at school and dogs, rentals are hard to find now and very expensive.

Houndymumma · 14/08/2025 09:24

Every house sale & price is totally individual. Depending on circumstances, vendors and other outside issues. Plus nobody really knows the correct property price, estate agents give valuations but they are approximate. So ultimately it’s solely dependent on what someone will pay and what someone will sell for. If mortgage companies won’t lend due to it being overvalued, you still can’t make someone lower their price. They are just in the position where they’ll have to hope they get a generous cash buyer. It’s a terribly frustrating process but I don’t think it works comparing your sale price to your purchase. It’s also a process where people are very stressed and can bring the worst out in folk. I hope to not have to go through it again anytime soon! Good luck OP.

Kipperandarthur · 14/08/2025 09:59

I think you are underestimating the cost of building an annex in today's climate of high build costs.

Then the bigger garden issue as well that does reflect in the price point.

A friend of mine has recently built a double garage (albeit a very nice one) at £185k.

Houndymumma · 14/08/2025 10:05

Agree with PP, building costs or even doing house renovations has rocketed since the pandemic. Costs are extortionate. Plus a larger plot will definitely make a big difference. Things like this on fairly similar houses will mean big price differences.

Kipperandarthur · 14/08/2025 10:10

The other properties gardens are too small to build a separate annex. We could renovated the garage, but it will take time and money and wouldn't be of the same size as the annex on the other house.

This really is your own answer as to why the house you want is more expensive.

JockTamsonsBairns · 14/08/2025 10:37

Kipperandarthur · 14/08/2025 09:59

I think you are underestimating the cost of building an annex in today's climate of high build costs.

Then the bigger garden issue as well that does reflect in the price point.

A friend of mine has recently built a double garage (albeit a very nice one) at £185k.

What??

Just how nice can a garage be that it cost £185k??

I'd love to see it!

Kipperandarthur · 14/08/2025 11:12

JockTamsonsBairns · 14/08/2025 10:37

What??

Just how nice can a garage be that it cost £185k??

I'd love to see it!

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It is pretty fabulous, double height with an exercise room above with a shower.
But still an open garage beneath.

Only trying to illustrate that to build from scratch an annex is not going to be cheap. You have the planning, the build, the fit out of kitchen and bathroom, plumbing, heating, electrics etc.

housethatbuiltme · 14/08/2025 11:39

rainingsnoring · 13/08/2025 20:15

I don't think you have understand the point I made.

Show quote history

The point you make is non comparable.

They need to live in a house
They have time and don't need to move

They can wait forever... housing market fluctuates mildly in the short term but in the long term only goes up, they lose NOTHING by waiting even if they wait forever because they are USING it and its function does not decrease/wear out.

it not remotely like cars or clothes.

housethatbuiltme · 14/08/2025 11:46

Linenpickle · 13/08/2025 20:41

You asked for 8% off, they said no but offered 2%. So counter offer with 6%. If you make that offer the agents have to ask the buyer.

Actually they don't.

EA work for the seller, the posed the initial offer which was rejected and countered by the seller. If the seller now says to them 'I don't want to hear any offers unless its 2% or higher' then the EA doesn't have to tell them.

EA are not allowed to choose to withhold offers but they CAN follow sellers instructions to reject any offer under a set amount automatically.

nottoplan · 14/08/2025 11:46

Looking at this from a perhaps slightly different angle
you don’t want to loose your buyer so decide to sell and go into rented , this will now entail
the cost of moving twice , possibly paying for storage , possibly loosing your mortgage offer , and the cost of renting a property for minimum of six months you will say goodbye to more than the difference between your offer and their lowest acceptable price , if you like the property and it adequately would serve your purposes just crack on with your very best offer and get it over and done with

SaulHudsonDavidJones · 14/08/2025 11:51

I would absolutely walk away from this and let them sit there, regretting their lost sale.

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