House buying advice

[BIG H]

I've got a cash buyer for my house and I have found the house we want. It's on the market for £176,500 (house are ridiculously cheap in my area) and I have put an initial offer of £170,000 down, which has been refused. The house has only been on the market for 3 days, so they are obviously relcutant to sell too cheap, but I know they have money problems and therefore probably want to move straight away (which we can) It is in a very sought after area and I know that lots of people are already interested.

They have asked for our final offer, so I think I will go back and £173,500 and bluff it as my 'walk away' price.

Any advice?

[Mattyhitman]

Game of negotiating, offer a couple of grand on top of ya original offer, see what they say, they may come back with a counter offer, then find the middle ground.

Houses are'nt selling so a quick sale maybe what get's the deal, good luck

[BIG H]

Game of negotiating, offer a couple of grand on top of ya original offer, see what they say, they may come back with a counter offer, then find the middle ground.

Houses are'nt selling so a quick sale maybe what get's the deal, good luck

Thanks mate,

I've decided to go and knock on the geezers door later, rather than let the estate agents try to bump the price up for their own benefit. See if we can strike a deal.

[TheMacMagician]

Sounds like a good move pal. Maybe he'll even fuck the estate agent off. Ha. Ya never know. I'd go 172 as a FINAL and bluff...

[BIG H]

Sounds like a good move pal. Maybe he'll even fuck the estate agent off. Ha. Ya never know. I'd go 172 as a FINAL and bluff...

Yeh kinda where I'm thinking mate Cheers

[Mark TKO]

I done this recently

Don't budge - I wouldn't even have gone in at that price to be honest and would have gone in at 155k.

When its only been up for sale a few days people tghink cos they had a quick offer they are in demand - they arent.

Dont offer any more

[BIG H]

I done this recently

Don't budge - I wouldn't even have gone in at that price to be honest and would have gone in at 155k.

When its only been up for sale a few days people tghink cos they had a quick offer they are in demand - they arent.

Dont offer any more

Thanks mate. The issue is that I know for fact there are already more potential buyers, the house is in a really sought after area, only 3 houses have become available in this road in the last 5 years (opposed to 25 in the same period in our 2nd choice house/street)

How did you get on with your purchase?

[Mattyhitman]

Game of negotiating, offer a couple of grand on top of ya original offer, see what they say, they may come back with a counter offer, then find the middle ground.

Houses are'nt selling so a quick sale maybe what get's the deal, good luck

Thanks mate,

I've decided to go and knock on the geezers door later, rather than let the estate agents try to bump the price up for their own benefit. See if we can strike a deal.

Yep, good idea bud, and if he doesnt accept then just ........ actually no dont do that!!

[0james0]

You know that's what I do for a living mate? I'm a financial adviser, also help clients of mine buy and sell houses and deal with the generally scummy estate agents.

Stick to your guns, it is a buyers market. If they dont take your offer, another house will. Too many other properties for sale for them to be bullish with their price.

I bet you any money, they have gone on at that price and they expect to achieve £175k.

You've clearly done your research, so if it is that rare to get a house there, then bite the bullet and settle around £174k, a few grand is neither here nor there if you really love the house. Cost you a few quid extra on your mortgage. If there is other genuine interest, then knocking on the door is exactly the right thing to do.

You'll be suprised though mate, estate agents can often help a buyer wrap up a sale, they get commission when a deal is tied up, so that is more important to them than getting the vendor a couple extra grand and a few pence extra commission.

Anything you need give me a shout

[TheMacMagician]

Great stuff from james there man. How is this panning out H, got anywhere yet. Did you go round there??

[BIG H]

Great stuff from james there man. How is this panning out H, got anywhere yet. Did you go round there??

Thought I'd let them stew a bit and go round in the morning. I'm off to Germany for 2 weeks on Monday for my new job, so I wanna try and tie it up this weekend if poss.

[Master]

I do not think they can sell without the estate agent as they must have signed something with them.

I would wait until after the Germany trip personally.

[Andre]

Game of negotiating, offer a couple of grand on top of ya original offer, see what they say, they may come back with a counter offer, then find the middle ground.

Houses are'nt selling so a quick sale maybe what get's the deal, good luck

Thanks mate,

I've decided to go and knock on the geezers door later, rather than let the estate agents try to bump the price up for their own benefit. See if we can strike a deal.

Good work , there should be an open season on Estate agents .,they play both sides against each other for their own benefit, there is usually only one real winner.

With the markets in falling mode and the future unsure they will probably take your offer mate.

[Andre]

I do not think they can sell without the estate agent as they must have signed something with them.

I would wait until after the Germany trip personally.

Out here we can can have a sole contract with one agent or an open one where many estate agents can sell on behalf of you.

Are you guys the same over there? If its an open contract here, the owner can also sell it from underneath all the agents.

[Jimanuel Boogustus]

Good luck Big. i think your right to stick to your guns and not rush back in with a 2nd offer... Besides, if the seller 'accepts' a bigger offer you can always gazump the other buyer because your (practically) a cash buyer*



*please note; gazump does not mean 'bash them over the head'