| House negotiation. 20:19 - Apr 3 with 7393 views | redrickstuhaart |
on for 389. Reduced to that figure in feb (dont know what from).
Previously with a different agent (who are known locally as the premium agent and tend to over price...)
Part of me thinks that an offer of 375 might be insulting if they have already taken the psychological hit of a reduction. Another part of me thinks if I mroe reasonably go in at 380 - it looks like an invitation by me to meet at 385. Which is barely worth haggling over at all.
What do we reckon? |  | | |  |
| House negotiation. on 22:49 - Apr 4 with 2158 views | WicklowBlue |
| House negotiation. on 22:34 - Apr 4 by redrickstuhaart |
For what its worth, I have spent the day procrastinating.
But I think I think I will put the offer in tomorrow morning.
The SDLT is the absolute killer. :-( |
Read your op but skimmed through the thread so others probably know the market better.
But just wanted to share some advice I received yonks ago when bidding on a house that has been on the market for a good while with no movement.
"If you aren't embarrassed by your first offer then you have bid too high"
Don't ever feel embarrassed by going in low and testing the waters. Does it matter if you are dismissed or laughed at that's the start of all negotiations.
Good luck! |  | | |
| House negotiation. on 08:47 - Apr 5 with 2014 views | tcblue |
| House negotiation. on 22:49 - Apr 4 by WicklowBlue |
Read your op but skimmed through the thread so others probably know the market better.
But just wanted to share some advice I received yonks ago when bidding on a house that has been on the market for a good while with no movement.
"If you aren't embarrassed by your first offer then you have bid too high"
Don't ever feel embarrassed by going in low and testing the waters. Does it matter if you are dismissed or laughed at that's the start of all negotiations.
Good luck! |
This all depends on the circumstances
Like others on here, I've had 'offers' from people which have been so 'embarrassing' I've not even dignified them with a response, and entertained no other offer from them.
Be careful out there, the English house purchasing system is utterly stupid and broken | | | |
| House negotiation. on 10:46 - Apr 5 with 1966 views | NedPlimpton |
| House negotiation. on 08:47 - Apr 5 by tcblue |
This all depends on the circumstances
Like others on here, I've had 'offers' from people which have been so 'embarrassing' I've not even dignified them with a response, and entertained no other offer from them.
Be careful out there, the English house purchasing system is utterly stupid and broken |
Not entertaining another offer from someone who made a low offer to start feels absolutely bonkers to me
You'd genuinely turn down an acceptable offer from them because you felt offended by their first offer??? [Post edited 5 Apr 12:57]
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| House negotiation. on 12:18 - Apr 5 with 1939 views | Ryorry |
| House negotiation. on 10:46 - Apr 5 by NedPlimpton |
Not entertaining another offer from someone who made a low offer to start feels absolutely bonkers to me
You'd genuinely turn down an acceptable offer from them because you felt offended by their first offer??? [Post edited 5 Apr 12:57]
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I think it’s understandable. Some people are just totally Trumpian unreliable chancers, like the vendors who raised their price by £70k at the moment of exchanging contracts. They’d moved the goalposts several times before that, and if I’d withdrawn my interest at one of those points instead of later, I’d have saved myself a lot of time, energy and stress. |  |
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| House negotiation. on 15:12 - Apr 5 with 1848 views | tcblue |
| House negotiation. on 10:46 - Apr 5 by NedPlimpton |
Not entertaining another offer from someone who made a low offer to start feels absolutely bonkers to me
You'd genuinely turn down an acceptable offer from them because you felt offended by their first offer??? [Post edited 5 Apr 12:57]
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Well, I've done it before.
Again, it all depends on circumstances. Someone might be desperate to sell, I haven't been, so yes, when I have had a stupid offer, I didn't want to talk with them anymore. There's a LOT of timewasters out there.
In my experience (I've had a lot of it!), idiot offers aren't generally followed up. [Post edited 5 Apr 15:14]
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| House negotiation. on 23:15 - Apr 5 with 1772 views | JammyDodgerrr |
House we just bought was on market at 245, we offered 240 as still a saving and we liked it enough to pay close to asking. I know you supposed to lowball but I prefer just getting the house we want. That said, the market is pretty slow right now so you probably will have more grace from a seller if you need it. |  |
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| House negotiation. on 15:45 - Apr 7 with 1591 views | redrickstuhaart |
| House negotiation. on 23:15 - Apr 5 by JammyDodgerrr |
House we just bought was on market at 245, we offered 240 as still a saving and we liked it enough to pay close to asking. I know you supposed to lowball but I prefer just getting the house we want. That said, the market is pretty slow right now so you probably will have more grace from a seller if you need it. |
I made the offer at 375.
Response is not a counter offer but a suggestion they want nearer the asking price. Im going to let them sweat a bit. We are post 1 april in an erratic market and economic chaos. Personally i think its a bit rude not tou counter offer and am irritated! | | | |
| House negotiation. on 15:48 - Apr 7 with 1568 views | Zx1988 |
| House negotiation. on 15:45 - Apr 7 by redrickstuhaart |
I made the offer at 375.
Response is not a counter offer but a suggestion they want nearer the asking price. Im going to let them sweat a bit. We are post 1 april in an erratic market and economic chaos. Personally i think its a bit rude not tou counter offer and am irritated! |
Sounds like a decent plan.
Let them sweat it, and then go back to the agent to ask if they've had any more thoughts on the offer. If they want more, let them be the next to mention a figure.
It feels to me as if they may be inclined to accept £375k, but want to see if they can get any more out of you first. | |
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| House negotiation. on 15:50 - Apr 7 with 1565 views | LeoMuff |
| House negotiation. on 15:45 - Apr 7 by redrickstuhaart |
I made the offer at 375.
Response is not a counter offer but a suggestion they want nearer the asking price. Im going to let them sweat a bit. We are post 1 april in an erratic market and economic chaos. Personally i think its a bit rude not tou counter offer and am irritated! |
Don’t think anyone would instantly re offer, it’s all part of the game. Just sit tight and see what happens for a week or so. |  |
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| House negotiation. on 15:59 - Apr 7 with 1545 views | redrickstuhaart |
| House negotiation. on 15:50 - Apr 7 by LeoMuff |
Don’t think anyone would instantly re offer, it’s all part of the game. Just sit tight and see what happens for a week or so. |
Its a tarp. Bidding against myself basically tells them im keen enough that they should hold out.
That said, there is sod all else that is catching my interest atm and i do have some time pressure. The dirty #%$&$&. | | | |
| House negotiation. on 16:04 - Apr 7 with 1504 views | Churchman |
| House negotiation. on 12:18 - Apr 5 by Ryorry |
I think it’s understandable. Some people are just totally Trumpian unreliable chancers, like the vendors who raised their price by £70k at the moment of exchanging contracts. They’d moved the goalposts several times before that, and if I’d withdrawn my interest at one of those points instead of later, I’d have saved myself a lot of time, energy and stress. |
You are right. There are plenty of complete aholes out there. As I’ve said in another thread on this, my word is important to me. If I agree a deal, I stick to it and that’s an end to it. If a buyer or seller doesn’t, I’m out.
I make it clear up front how I do business, the only exception when buying is if the survey throws up something unforeseen (always pay for a proper survey. It’s worth it). Those who have tried it on with me in the past were told under no circumstances would I ever deal with them in future whatever they offered.
Unscrupulous Estates Agents are much the same, but given they work for you if you are selling or the seller if you are buying, they’re much easier to control.
However, it is easy to fall in love with a place if it’s what you are looking for and then tolerate getting messed around because you want it so much. Avoiding that requires a lot of willpower! |  | | |
| House negotiation. on 16:21 - Apr 7 with 1490 views | redrickstuhaart |
| House negotiation. on 15:59 - Apr 7 by redrickstuhaart |
Its a tarp. Bidding against myself basically tells them im keen enough that they should hold out.
That said, there is sod all else that is catching my interest atm and i do have some time pressure. The dirty #%$&$&. |
On reflectiion, i think they are holding out for 385. They know if they counter at that figure, im likely to meet in the middle and say 380. If they counter higher than that it looks like a pi ss take. | | | |
| House negotiation. on 16:31 - Apr 7 with 1448 views | NedPlimpton |
| House negotiation. on 15:45 - Apr 7 by redrickstuhaart |
I made the offer at 375.
Response is not a counter offer but a suggestion they want nearer the asking price. Im going to let them sweat a bit. We are post 1 april in an erratic market and economic chaos. Personally i think its a bit rude not tou counter offer and am irritated! |
I don't see why it's rude to not make a counter offer?
They've listed their house for a certain value and you've bid below that. The onus is on you to get towards something they would deem acceptable. But you might not be the only one bidding, so why come back with a figure to you when they could still have other bidders creeping higher and higher
House buying is a very emotional thing, but as others have said, and you've acknowledged yourself, patience is a virtue. Also try taking some of the emotion out of it
We recently got above asking price on ours whilst buying somewhere else 23k below asking price. | | | |
| House negotiation. on 17:59 - Apr 7 with 1385 views | redrickstuhaart |
| House negotiation. on 16:31 - Apr 7 by NedPlimpton |
I don't see why it's rude to not make a counter offer?
They've listed their house for a certain value and you've bid below that. The onus is on you to get towards something they would deem acceptable. But you might not be the only one bidding, so why come back with a figure to you when they could still have other bidders creeping higher and higher
House buying is a very emotional thing, but as others have said, and you've acknowledged yourself, patience is a virtue. Also try taking some of the emotion out of it
We recently got above asking price on ours whilst buying somewhere else 23k below asking price. |
I think a negotiation should be a two way street. If I made a cheeky offer, fair enough, but its less than 5% short of asking, in a dodgy financial environment, where SDLT has just shot up. | | | |
| House negotiation. on 18:41 - Apr 7 with 1356 views | BloomBlue |
| House negotiation. on 15:45 - Apr 7 by redrickstuhaart |
I made the offer at 375.
Response is not a counter offer but a suggestion they want nearer the asking price. Im going to let them sweat a bit. We are post 1 april in an erratic market and economic chaos. Personally i think its a bit rude not tou counter offer and am irritated! |
It's a game. They're deliberately not counter offering, hopeful you will blink first and offer them the full asking price.
I bet they're sitting there saying, 'they sounded like they're desperate for the house, let them sweat I bet they will come back with the full asking price'.
Sold a couple of properties using that approach myself, and it worked, they came back with full asking price.
That's why I always say don't get over emotional on property, there will be another one along soon. |  | | |
| House negotiation. on 18:46 - Apr 7 with 1351 views | bluelagos |
| House negotiation. on 17:59 - Apr 7 by redrickstuhaart |
I think a negotiation should be a two way street. If I made a cheeky offer, fair enough, but its less than 5% short of asking, in a dodgy financial environment, where SDLT has just shot up. |
Global markets have just dropped 15% in 4 trading days. Previous drops like that led to a recession and house prices dropping off.
Am not predicting anything - but there is every chance a lot of potential buyers will get jittery - forking out a fck load of money if you think your job may not be safe, or if you think house prices could soon be on a downward trajectory - is rather unappealing.
There's also every chance of current agreed sales not getting to completion again as buyers become nervous.
You are in a very strong position as a buyer at the moment. If it were me I would be looking absolutely to hold firm and get yerself a decent price, knowing that there will be plenty of other opportunities in the coming months if this one doesn't happen! |  |
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| House negotiation. on 19:11 - Apr 7 with 1328 views | Ryorry |
| House negotiation. on 16:04 - Apr 7 by Churchman |
You are right. There are plenty of complete aholes out there. As I’ve said in another thread on this, my word is important to me. If I agree a deal, I stick to it and that’s an end to it. If a buyer or seller doesn’t, I’m out.
I make it clear up front how I do business, the only exception when buying is if the survey throws up something unforeseen (always pay for a proper survey. It’s worth it). Those who have tried it on with me in the past were told under no circumstances would I ever deal with them in future whatever they offered.
Unscrupulous Estates Agents are much the same, but given they work for you if you are selling or the seller if you are buying, they’re much easier to control.
However, it is easy to fall in love with a place if it’s what you are looking for and then tolerate getting messed around because you want it so much. Avoiding that requires a lot of willpower! |
Only disagree with you on one thing there, ie "always pay for a proper survey. It’s worth it".
I've paid for full structural surveys on all four of the houses I've ever bought, and in every single case not only were they a complete waste of money, but all of them dangerously failed to reveal any of the many serious structural faults in all of the houses - wet rot; bulging ceiling from leaking watertank of flat above (which I myself spotted by dint of looking up, no qualifications required); sagging roof purlins, and worst of all, a failed, illicit DIY chimney lining which gave me several strokes & almost led to my death at age 40 from CO poisoning.
With the wet-rot flat, my ex later called in a builder mate of his who spotted it by dint of getting out his (1980s) car-key & sticking it straight through the skirting board ... All the internal walls then had to be stripped out to reveal nothing but horsehair, crumbling plaster & rotting lathes! Pretty much the only comment the full structural surveyor had written apart from "appears to be alright" was "very nice wrought iron garden gate" 😂 Not worth the paper it was written on would be an understatement. | |
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| House negotiation. on 19:16 - Apr 7 with 1309 views | redrickstuhaart |
| House negotiation. on 18:46 - Apr 7 by bluelagos |
Global markets have just dropped 15% in 4 trading days. Previous drops like that led to a recession and house prices dropping off.
Am not predicting anything - but there is every chance a lot of potential buyers will get jittery - forking out a fck load of money if you think your job may not be safe, or if you think house prices could soon be on a downward trajectory - is rather unappealing.
There's also every chance of current agreed sales not getting to completion again as buyers become nervous.
You are in a very strong position as a buyer at the moment. If it were me I would be looking absolutely to hold firm and get yerself a decent price, knowing that there will be plenty of other opportunities in the coming months if this one doesn't happen! |
Agree with all that in principle. Though there is literally nothing thats arrived on the market in the last fortnight that even begins to meet my foundational criteria, within budget.
Irony is, had they made a counter offer they would probably have had a deal to their liking this afternoon. | | | |
| House negotiation. on 19:19 - Apr 7 with 1295 views | Churchman |
| House negotiation. on 19:11 - Apr 7 by Ryorry |
Only disagree with you on one thing there, ie "always pay for a proper survey. It’s worth it".
I've paid for full structural surveys on all four of the houses I've ever bought, and in every single case not only were they a complete waste of money, but all of them dangerously failed to reveal any of the many serious structural faults in all of the houses - wet rot; bulging ceiling from leaking watertank of flat above (which I myself spotted by dint of looking up, no qualifications required); sagging roof purlins, and worst of all, a failed, illicit DIY chimney lining which gave me several strokes & almost led to my death at age 40 from CO poisoning.
With the wet-rot flat, my ex later called in a builder mate of his who spotted it by dint of getting out his (1980s) car-key & sticking it straight through the skirting board ... All the internal walls then had to be stripped out to reveal nothing but horsehair, crumbling plaster & rotting lathes! Pretty much the only comment the full structural surveyor had written apart from "appears to be alright" was "very nice wrought iron garden gate" 😂 Not worth the paper it was written on would be an understatement. |
Fair enough. Can’t argue with that and I understand why you view them as you do. | | | |
| House negotiation. on 09:12 - Apr 8 with 1116 views | NedPlimpton |
| House negotiation. on 17:59 - Apr 7 by redrickstuhaart |
I think a negotiation should be a two way street. If I made a cheeky offer, fair enough, but its less than 5% short of asking, in a dodgy financial environment, where SDLT has just shot up. |
But if they give you a figure back then they're capping themselves at that value. Why would they do that?
I've sold properties before with just one person bidding against themselves. I'd have been daft to give them a figure | | | |
| House negotiation. on 09:22 - Apr 8 with 1095 views | JammyDodgerrr |
| House negotiation. on 17:59 - Apr 7 by redrickstuhaart |
I think a negotiation should be a two way street. If I made a cheeky offer, fair enough, but its less than 5% short of asking, in a dodgy financial environment, where SDLT has just shot up. |
I think you are missing the point that they ARE negotiating with you. They don't have to lower the price, the negotiation can just be the asking price. | |
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| House negotiation. on 09:36 - Apr 8 with 1066 views | DJR |
What does The Art of the Deal say about such negotiations? |  | | |
| House negotiation. on 09:40 - Apr 8 with 1048 views | bluelagos |
| House negotiation. on 09:36 - Apr 8 by DJR |
What does The Art of the Deal say about such negotiations? |
Burn the house down and get it much cheaper, everyone's a winner apparently. | |
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| House negotiation. on 10:58 - Apr 8 with 996 views | portmanking |
| House negotiation. on 09:12 - Apr 8 by NedPlimpton |
But if they give you a figure back then they're capping themselves at that value. Why would they do that?
I've sold properties before with just one person bidding against themselves. I'd have been daft to give them a figure |
Absolutely right. Why on earth would a seller be so stupid as to give a figure back, unless they were absolutely desperate to seal a deal for their next move?
If anything, the fact they've not 'countered' suggests they're in a strong/contented position and you'll either have to pay up if you love the house enough or move on.
I always find it funny when people quibble over 5-10k on a house they're paying £375k for. You're talking £10-£20 more a month on a mortgage, if that. [Post edited 8 Apr 10:59]
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| House negotiation. on 11:12 - Apr 8 with 972 views | gainsboroughblue |
| House negotiation. on 17:53 - Apr 4 by EJP |
But only if the dining room table is an extender. |
And if the toilet flushes on the first yank. |  |
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