Page 5 | Vendor not budging on house price

herbalteabag · 14/08/2025 11:52

Why should they take less if they don't want to though? They obviously aren't that desperate to sell quickly and that is up to them. An annexe is worth a lot. You either accept the price or you don't, they are not obliged to meet you anywhere.

housethatbuiltme · 14/08/2025 11:56

SaulHudsonDavidJones · 14/08/2025 11:51

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

lol 'regret'.

Only OP is losing anything.

SunDash · 14/08/2025 11:58

You might be getting frustrated, but the vendor is entitled to stick to their asking price, and not sell to you for less.
Just keep working at negotiating, and you might get there. Also keep looking.

rainingsnoring · 14/08/2025 12:30

housethatbuiltme · 14/08/2025 11:39

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.

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The other poster made the comparison with clothes- check the posts.

Your post makes lots of assumptions. They may well not need to move now but that could well change in a year or two. You also assume that the housing market always goes up, when, in fact, this is a relatively recent pattern, due to credit creation and debt pushing. Previously, it only rose roughly in line with inflation. Things are different now and it may be that the housing market no longer has huge rises going forwards. So, it is by no means clear that those who choose to list above what the market will pay currently will achieve their desired price, unless, of course, we get hyperinflation with loaves of bread costing £100 or more.

housethatbuiltme · 14/08/2025 12:43

rainingsnoring · 14/08/2025 12:30

The other poster made the comparison with clothes- check the posts.

Your post makes lots of assumptions. They may well not need to move now but that could well change in a year or two. You also assume that the housing market always goes up, when, in fact, this is a relatively recent pattern, due to credit creation and debt pushing. Previously, it only rose roughly in line with inflation. Things are different now and it may be that the housing market no longer has huge rises going forwards. So, it is by no means clear that those who choose to list above what the market will pay currently will achieve their desired price, unless, of course, we get hyperinflation with loaves of bread costing £100 or more.

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Rising with inflation IS rising. Unless a house falls into damage and disrepair they rarely go down and the market self corrects. Inflation and rescission are temporary the market steadily rises overall.

No assumption have been made, and the sellers clearly don't have to move (a motivated vs unmotivated seller are obvious... your 'assumption' on what 'could possibly' happen years in the future mean fuck all as they are you just making up stuff you couldn't possibly know and are far more wild).

You (or OP or anyone else) are NOT entitled to buy someone else's house even if its for sale, its the sellers house and they said no to that offer or offers below 2%... thats the end of it.

All you 'if's, and's and but's' doesn't give you any rights to someone elses belongings.

rainingsnoring · 14/08/2025 13:03

housethatbuiltme · 14/08/2025 12:43

Rising with inflation IS rising. Unless a house falls into damage and disrepair they rarely go down and the market self corrects. Inflation and rescission are temporary the market steadily rises overall.

No assumption have been made, and the sellers clearly don't have to move (a motivated vs unmotivated seller are obvious... your 'assumption' on what 'could possibly' happen years in the future mean fuck all as they are you just making up stuff you couldn't possibly know and are far more wild).

You (or OP or anyone else) are NOT entitled to buy someone else's house even if its for sale, its the sellers house and they said no to that offer or offers below 2%... thats the end of it.

All you 'if's, and's and but's' doesn't give you any rights to someone elses belongings.

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What are you so angry about @housethatbuiltme? There's no need for swearing and capitals. No one is entitled to buy a house for a figure that they want but the owners don't accept and the sellers are also not entitled to sell it for their desired price. It works both ways.

I haven't made assumptions. That was you. I said that their situation may change. You assumed that they will never need to sell. You are also assuming that the housing market always rises based on your recent experience.

Rising with inflation is not rising in real terms. If, for example, the prices of a loaf of bread rises from £1 now to £100 in the next 5 years and the price of a house rises from £250k now to £1 million in 5 years, that is a huge fall in real terms. Lots of people don't seem to understand this.

Mrsbloggz · 14/08/2025 13:13

I would walk away.
but I would keep a watch on the property and gloat to myself when they end up selling it for hardly anything because the market has dropped and they refuse to see the writing on the wall.

Hopingtobeaparent · 14/08/2025 16:42

BCBird · 12/08/2025 21:40

Although u don't want to hear this, it is the vendor's perogative to hold out for the asking price. You either pay it or lose it, it's that simple. If u don't want to lose your buyer why not go into rented accommodation without your buyer, there isn't a future purchase for you. How much would it cost to build an annexe in one of the other properties on the road? Is this an option?

This, OP, in all honesty, pay it or don’t. The extra money is for the extra space and not having to built the annex.

Only you know if it’s worth it for you.

You pulling out may make the seller realise they may need to lower the price, but that doesn’t help you… 🤷‍♀️

chunkybear · 14/08/2025 16:51

I think you should walk away if you feel you don’t want to pay the extra !100k for the annexe and garden space. Personally you’d easily get that where I live, but it depends on the area

LoveWine123 · 14/08/2025 18:45

chunkybear · 14/08/2025 16:51

I think you should walk away if you feel you don’t want to pay the extra !100k for the annexe and garden space. Personally you’d easily get that where I live, but it depends on the area

I think if it was that easy to get it where she lives, she would have gotten it already and would not be stressing out about this particular house. Clearly it’s not easy to get and it costs a lot more hence the price on the house vs the other two houses that are coming up cheaper.

stichguru · 14/08/2025 18:50

I am currently selling my dad's house. Ultimately it's up to the vendor what they accept and how far down they can be pushed. Though a bigger garden and an annex do sound like they might be worth £100k.

Twiglets1 · 15/08/2025 07:02

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?

Sounds like there are good reasons this house is valued more than others seeing as it has an annex and bigger garden. You want the annex and must accept that it adds value to houses with them.

However, in this market I would expect sellers to be flexible on the price as you have been.

I think it would be fair to offer 5% under asking and say you had to accept 5% under asking on your house too. They may say this is irrelevant but hopefully their EA can make them see that they should seriously consider your offer in the interests of moving forward and that it's a buyers market and you are keen to proceed so are valuable.

Twiglets1 · 15/08/2025 07:08

BananaMoon4 · 12/08/2025 21:49

@BCBird thank you for your quick reply, I am also thinking they can hold out for whatever they like. It also makes me think we should have held out for more on ours, and that's upsetting me too.

Sorry I should have said, we will go into rented if we have to, to let our sale go through. Our buyer has a very small baby and they want to move to be closer to family so I wouldn't hold them up. Our issue is the added cost of 2 moves, and trying to find a rental near schools and work, with a dog is tricky.

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.

I honestly hate this, I thought selling was the hardest part!

No you shouldn't feel like you made a mistake accepting 5% under asking for yours. I think that's an entirely reasonable reduction in this current market, in most places in the country.

If everyone gets rigid on the price they will accept, no one moves. You have shown flexibility to get a deal done and the owners of this house should too. If they refuse & you do go into rented, you will undoubtedly find someone further down the line who is willing to accept an offer on their house. This house may even end up getting reduced, it doesn't sound like it has wide appeal though it suits your particular circumstances.

C8H10N4O2 · 15/08/2025 10:17

What is the decision @BananaMoon4 ? Around my way a larger garden and annexe in a “forever home” road could easily pull in an extra 150-200k on the price. Obviously areas vary. The cost to build could also be that much and of course the larger land plot would add to the initial house price.

If they are not in a hurry to move then what is the difference between your 5% and their 2% - 20k? What would be the costs of conveyancing to date, rental, storage etc for 12 months plus hassle factor? If the home is forever and the annexe ready built then a few grand either way is probably worth it if you can afford it.

What you are looking for is a limited availability product - a house with an annexe or land to build.

HatandCoat · 15/08/2025 10:45

I wonder if the OP has fallen into the trap of thinking a house is 'worth' exactly the amount she has to spend.

Original poster

BananaMoon4 · 15/08/2025 13:55

HatandCoat · 15/08/2025 10:45

I wonder if the OP has fallen into the trap of thinking a house is 'worth' exactly the amount she has to spend.

It isn't at the top of our budget. But it meets our needs well and there are slim pickings in our area currently that meet our needs, even the more expensive ones. A lot of reductions in the area, this one has been on since Feb, no offers (it was also on for 6 months last year with an offer that didn't go through) and no reduction.

OP posts:

Original poster

BananaMoon4 · 15/08/2025 13:58

C8H10N4O2 · 15/08/2025 10:17

What is the decision @BananaMoon4 ? Around my way a larger garden and annexe in a “forever home” road could easily pull in an extra 150-200k on the price. Obviously areas vary. The cost to build could also be that much and of course the larger land plot would add to the initial house price.

If they are not in a hurry to move then what is the difference between your 5% and their 2% - 20k? What would be the costs of conveyancing to date, rental, storage etc for 12 months plus hassle factor? If the home is forever and the annexe ready built then a few grand either way is probably worth it if you can afford it.

What you are looking for is a limited availability product - a house with an annexe or land to build.

We have offered them their 2% under the asking price that they said they would not go below, to account for immediate safety work that will need done. Waiting since yesterday on a response. Still think we are overpaying and it will go down in value in the next 2 years, but it's our forever home... hopefully

OP posts:

Original poster

BananaMoon4 · 15/08/2025 14:00

stichguru · 14/08/2025 18:50

I am currently selling my dad's house. Ultimately it's up to the vendor what they accept and how far down they can be pushed. Though a bigger garden and an annex do sound like they might be worth £100k.

I agree it's definitely worth 100k more which was why we offered that. Seller wants 160k more and we have just relented and offered them it. Still waiting on a response from yesterday...

OP posts:

JustGoClickLikeALightSwitch · 15/08/2025 14:17

A friend is selling currently and is behaving a bit like your vendor - estate agents came in and gave a wild valuation, house unsurprisingly didn't sell, and DF simultaneously understands that the house is overpriced AND doesn't want to entertain lower offers. In her case she has bought the onward purchase already, in cash, which makes the whole thing even more frustrating to witness. Nothing to be done unfortunately.

LoveWine123 · 15/08/2025 20:54

Good luck OP. We also overpaid recently but we did it knowingly due to slim pickings for what we want and also timing that needed to work for us. I have zero regrets. The house is exactly what we wanted and more and it’s in the area and condition that we want. We are not planning to move again so this was it for us. We were happy to pay a bit over the odds to get our forever home. It would have killed me to save a bit but get the wrong house. Good luck with getting your offer accepted.

TheGrimSmile · 15/08/2025 21:17

So is the difference about £30,0000 between what they will accept and what you wnat to pay? If the house is perfect for you and you intend to stay there for a long time and you can afford it, I'd just offer what they will accept. Some people will cut their noses off to spite their face so they probably won't give in. The fact that it's been on for so long should tell you that. If you plan to be there a long time I'd just pay it.

Advocodo · 15/08/2025 22:55

Hoping this sale goes through for you. It’s horrible trying to buy and sell at a price you feel is fair! I think we always feel we sold too cheaply and bought to dear!! I think you have done the right thing especially as you said there are not many other houses for you that meet your requirements.

Elektra1 · 15/08/2025 22:59

It really doesn’t matter what you think about value of the vendor is willing to hold out. Sounds like it might be worth considering a rental, to give yourself time to find and buy somewhere you really like

LasVegass · 16/08/2025 10:19

Good luck, OP. I hope it comes through for you.

housethatbuiltme · 16/08/2025 11:08

rainingsnoring · 14/08/2025 13:03

What are you so angry about @housethatbuiltme? There's no need for swearing and capitals. No one is entitled to buy a house for a figure that they want but the owners don't accept and the sellers are also not entitled to sell it for their desired price. It works both ways.

I haven't made assumptions. That was you. I said that their situation may change. You assumed that they will never need to sell. You are also assuming that the housing market always rises based on your recent experience.

Rising with inflation is not rising in real terms. If, for example, the prices of a loaf of bread rises from £1 now to £100 in the next 5 years and the price of a house rises from £250k now to £1 million in 5 years, that is a huge fall in real terms. Lots of people don't seem to understand this.

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Its very rare people ever NEED to sell. Shy of imminent repossession (and many people like me own outright so thats not even a risk + benefit systems exist to help people who get sick or lose their job and can't meet the mortgage etc...) which is late stage debt selling of your primary home is pretty much always choice.

Motivated sellers often WANT to sell, to move to a desired new house, to move for a job, to move for family etc... but they don't NEED too. Being forced out of your house financially is pretty rare.

That is the thing about owned houses, once you have one you can live in them indefinitely (unless theres so kind of natural disaster or fire).