Help me overcome insomnia

[kitchpoo]

We have just put an offer in on a house (5k below the asking price)

Got a call back from the agent saying the vendor was honouring some viewings at the weekend and wasnt accepting/considering the offer.

This property has been on the books for over 3 months, so we are unsure where we stand here.

Any estate agents know if this is an age-old dodge?

Or is it our position (yet to sell ours) thats causing them not to accept?

Or is it the agent just attempting us to up the offer?

Or is it that the seller hasnt found the right property to move to?

I can see this is going to give me sleepless nights.

[Caterman]

I've bought a few houses over the years and if they are not accepting the offer then that's what they mean. You will have more bargaining power when you sell yours and have a new mortgage in place ready.

Ask yourself the following:

If you get people coming to view your property, who are you more likely to accept an offer from, A) First time buyers. No property to sell. B) People who have sold their property. or C) Somebody such as yourself, house to sell.
It's a fact of life that the first time buyers will win every time.

My advice is to sell first (or find somebody seriously interested) then put in an offer. If it's below the asking you will have virtually no chance, near the asking you may be in with a shout if they are not in a hurry to move.

Hope this helps, but as i say i have had quite a bit of experience over the years. Learnt the expensive way to start with!!!!!

[Cheeky_B]

My missus works for an estate agent, shes not in at the moment but i will ask her tonight sometime for you.

[kitchpoo]

My missus works for an estate agent, shes not in at the moment but i will ask her tonight sometime for you.

cheers - I'll probably still be up (as per title).

We have a pre-approved mortgage in place

We have 3 more viewings of our house this week - hopefully one wil put in an offer. As soon as we have any change I'll be on the phone to the agent (actually they will be on the phone to me as its the same agent)

[Pendo]

We have just put an offer in on a house (5k below the asking price)

Got a call back from the agent saying the vendor was honouring some viewings at the weekend and wasnt accepting/considering the offer.

Does this mean they aren't considering the offer at all, or not considering it till after the weekend, hoping they'll get a better offer over the weekend?

[Tim2100]

Sounds like they are just holding out to see if they get asking price.

5k shouldn't make that much difference IMO.

[Andy]

we are just about to start looking for a new house and moving slightly out of Newcastle where our budget will increase from a 3 bed semi to a 4 bed detached, less than 1/2 hr from where we live now.

we are in the view that we really want an offer in on ours before we start looking at other houses, other than on the websites etc. The reason being we want to be in a strong position so that we dont get gazumped by a first timer etc. We have an another apartment we can move into (her dads holiday home) if we sell ours before we buy another so it makes sense for us to do it this way.

without wanting to hijack the thread, ours needs some decorating doing toa few rooms. Mainly due to it being old fashioned. We also ahve a room where 'she' decided to rip the wallapaper off half the walls and hasnt finished it yet. I refuse to do it as shes always maoning at me for not finishing anything lol. Should we get the house 100% right before putting it on the market, or offer it as is but a reduced price. We think its worth £120K but were going to ask £110K for quick sale.

[kitchpoo]

getting a house 100% gives an impession of care and value for money - We have completed ours before putting it on the market.

[kitchpoo]

Does this mean they aren't considering the offer at all, or not considering it till after the weekend, hoping they'll get a better offer over the weekend?

From what I gather, they are not considering it until after the weekend.

[Duncan]

Should we get the house 100% right before putting it on the market, or offer it as is but a reduced price. We think its worth £120K but were going to ask £110K for quick sale.

I'd say for the bit of money and time, sort the room out first. It's not going to add anything to the price obviously if you do it up. Likewise its unlikely to drop the value of the house if a room isn't decorated. But what it will do is attract someone more quickly to buy your house.

If they see the house is decorated throughout and ready to move into, it will tick one more box on their list. If a room will need to be sorted as soon as they move in it's one thing they may wish to be doing without and either go with another house, or start trying to knock money off etc.

I'd also say, if you think you're house is wort £120K, then I'd put it up for that. You can always reduce it if need be, or take a reduced offer (which is what people often do - put in a lowere offer to see if you'll accept it). £10k is a lot (on that value of house) to knock off for a quick sale. I'd only do it if you really needed to sell the house quickly.

HTH

D