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What a hateful greedy nasty little practice. We've already put in over the asking and now they're saying this.
Any tips?
Er... Put in your best and final offer? Or don't. If you already think you've bid enough, don't bid any more.
Tell them that is your 'best and final' offer.
It's a business deal, and you have to stop thinking in emotional and personal terms.
That's my tip, and is very difficult to do...
make the same offer. Are they trying it on? do you know *for certain* that other people are interested?
Say you've already given it and they can have a further 24hrs to consider it before you walk away
Previous offer + 1p.
Printed then faxed on headed paper from your lawyers which you've photocopied the finger onto as a watermark type thing.
Followed up by original in post with a turd enclosed - ideally your own, though the secretary's will do.
Yes it is a horrible nasty business. However, the asking price isn't the same as "buy it now" on ebay. The fact is that even your best and final offer being the best they receive doesn't mean they have to sell it to you or that they won't go back to the other side again.
If you like the house and can pay more put the offer in. Otherwise stick at your current price or even offer less. You get the best deals on houses if you are prepared to walk away.
Radio silence! Do and say nothing for 48 hours.
Play them at their own game.
Horrible business.
I've just made my first offer on my first house today and it's been accepted.* Complete bargain but I met the vendor, discussed the war for 2 hours (he's 86) and made my offer a s soon as back at the office which was accepted.
Everything just fits into place about it; him, the house, the circumstances, his assurances, the 'personal' element of meeting the vendor and the agent lady that I've been dealing with was wittering on about what a lovely chap he was. Which he was. She didn't mention the house once.
That's all I can say from my limited experience; all the other turds I've seen/dealt with make the prospect of this worthwhile.
I'm a bit weird like that, I believe in 'gut' feelings and I've walked away from plenty that smelt slightly of subterfuge.
*I am aware that many things can yet go wrong!
Good luck.
First few replies were on the money, so I'll only add this:
It's not like buying a car or TV, if this is going to be your home for your family for a long time and you really want it, then pay more than you think its worth. In a few years those extra few grand will be completely irrelevant!
Having said that avoid a Dutch auction by finding what they want to take it off the market. Once you have a figure you can either agree or haggle. Say you want it but are not prepared to play games!
Well, had an offer accepted, paid for survey, moved out of rented house to inlaws as lease ran out whilst we waited for them to find a new place. 8 months of waiting they decided it 'was too stressful' to find another house and pulled out of selling us the house. Took us another 6 months to find a similar place and move out of the inlaws.
Not impressed at all. Lesson learnt for me though. Second house I was very pushy (maybe too much in hindsight) but I wanted to be 100% the sellers were genuine and not time wasters.
The whole system needs to be looked at and given an overhaul. Should be more like the Scottish system
Where are you all living? Not West Yorkshire, obviously!
What a hateful greedy nasty little practice.
Bit harsh! As several parties are interested what alternative would you prefer? Open auction?
Offer what you wan to offer and outline why selling to you makes sense to them - chain, deposit, mortgage etc.
Nasty practice? Why it's just supply and demand mixed with a bit of negotiation. The asking price is rarely the purchase price (above or below). A house purchase is probably going to be your most expensive purchase ever which you may be paying for 25yrss so worth a bit of negotiation. Personally I love a good sales negotiation 😀
Pook - Member
What a hateful greedy nasty little practice. We've already put in over the asking and now they're saying this.Any tips?
Lower your offer by 10 grand.
mikewsmith - Member
Offer what you wan to offer and outline why selling to you makes sense to them - chain, deposit, mortgage etc.
POSTED 1 HOUR AGO # REPORT-POST
This is a good point - the 'best' offer isn't necessarily the highest one.
wait till the interest rate goes up 😉
Should be more like the Scottish system
Be careful what you wish for - being a vendor in Scotland is great...... trying to buy somewhere with the old sealed bids nonsense can be multiple hidings to nothing