Accepting Offers - House Sale - HotUKDeals
We use cookie files to improve site functionality and personalisation. By continuing to use HUKD, you accept our cookie and privacy policy.
Get the HUKD app free at Google Play

Search Error

An error occurred when searching, please try again!

Login / Sign UpSubmit

Accepting Offers - House Sale

smithyp1 Avatar
6y, 7m agoPosted 6 years, 7 months ago
We have had an offer for our house.

1st offer was £7k under the asking price which was rejected.

2nd offer has come in £2k higher, so that's £5k under the asking price.

Obviously we don't want to lose the buyer but we know from the agent there is still room for movement on the price.

How many rejections / offers would people be prepared to get?

The house isn't over priced at all and people will always come in lower but we don't want or need to give the house away.

Has anyone got any advice, tips or anything to work in our favour as the seller.
smithyp1 Avatar
6y, 7m agoPosted 6 years, 7 months ago
Options

All Comments

(20) Jump to unreadPost a comment
Comments/page:
banned#1
accept what you want for it, it is entirely up to you, counter offer them with what you want, if you want asking them clearly state no offers
#2
My mum put offer on a house and because of her max price she offered 7 k below but was refused but they accepted 3 k below, see if they will go higher.
#3
doesn't matter to some and other will back out after 1 or 2. 5K on a house worth 80 grand is a lot but 5k on a 500 grand ain't worth arguing about.
#4
sassie
accept what you want for it, it is entirely up to you, counter offer them with what you want, if you want asking them clearly state no offers


:thumbsup:

GRGO140
My mum put offer on a house and because of her max price she offered 7 k below but was refused but they accepted 3 k below, see if they will go higher.


good stuff ...

the sedge
doesn't matter to some and other will back out after 1 or 2. 5K on a house worth 80 grand is a lot but 5k on a 500 grand ain't worth arguing about.


very true ...

vinylandtrinkets
we are buying a house and had a surveyor in to check it out his valuation was 5K less then the asking price, so we offered the asking price on condition the seller leaves a few things they were planning on taking, like the built in wardrobes, built in freezer,fridge stuff like that, dont know how they thought they would get half of the stuff out mind..lol
you could always do the same sort of thing with your asking price or set the lowest amount you are willing to take, tell your estate agent to tell the buyer that the price is a little to low and get them to push for a bit more.
If the people want your house they might offer a little more.
good luck hun


yes, the next step might be to discuss fixtures and fittings and see whether we can play with this within the offer.
are we talking carpets, light fittings, wardrobes, fire place, chrome electric sockets etc etc .... ??
#5
A phrase that will get you far is 'MEET IN THE MIDDLE'. Both you and the buyer move equal positions but you gain a little on what they orginally offered and they still take a little off the full asking. They have already offered £2000 more so half of £7000 is £3500, only £1500 more!

Try it, you may have a deal quicker than you think!
banned#6
5K under waht price? could be 5K under a million for all we know. I have never charged extra for electric sockets, light fittings, fireplace etc when I sold in the past either.

In fact, if I was buying and a seller suggested they wanted more for basic fittings then I would just pull out of the deal completely.

fixtures & fittings for me mean curtains, blinds etc (things easily removed).
#7
norfolk_enchance
A phrase that will get you far is 'MEET IN THE MIDDLE'. Both you and the buyer move equal positions but you gain a little on what they orginally offered and they still take a little off the full asking. They have already offered £2000 more so half of £7000 is £3500, only £1500 more!

Try it, you may have a deal quicker than you think!


csiman
5K under waht price? could be 5K under a million for all we know. I have never charged extra for electric sockets, light fittings, fireplace etc when I sold in the past either.

In fact, if I was buying and a seller suggested they wanted more for basic fittings then I would just pull out of the deal completely.

fixtures & fittings for me mean curtains, blinds etc (things easily removed).


good advice both, thanks for the input.

i like the 'meet in the middle' approach.
#8
What position is the buyer in? I.e can they proceed immediately, deposit and mortgage offer in place, if they are I would bite their hand off and ensure you get a similar discount on the next house you buy.

Have they had a survey done yet?, that may come back with a valuation lower than there offer, which seems to be happening quite frequently especially on new builds.
#9
The housing market is sometimes a "buyers market" (lots of houses for sale and not much money around) or a sellers market (not many houses for sale and loads of money around).

Currently we are in a buyers market. Mortgages are hard to get and people have not got a lot of money, so a buyer (with money) can afford to bid low as sellers may be more desperate.

With house buying there are lots of things to consider, such as

* Are these first time buyers (with no house to sell). If so that is good. Or are they in a long chain which may cause problems.

* Is your house an "easy" house to sell (good area, well maintained), or is it a hard house to sell. This can affect the offers you get (and accept)

* Are you in a rush to sell, if so you need to accept offers, if not you can afford to hang on for the right price.

Every house sale is different and these buyers may be streching themselves to buy this house. Asking for more may scare them off.

However you could try "meet in the middle" and see what they say.

If they drop out maybe you can go back and accept their offer, after all you may not get another for a while.
#10
vinylandtrinkets
hun its up to you what you think is fair to leave, our seller was leaving the carpets, wood flooring, blinds and main fixtures, it was just the built in stuff he was taking with him as he had just done another house up the same way he did this one and everything would have fitted.

most people leave carpets if they wont fit your new house, take all your light fittings but you will need to replace them with something else,
if your fireplace its attached to the wall i'd leave it or it might damage the wall behind and that would need to be made good.
Chrome plug sockets should be left there to be honest, it would cost you more to replace them and no buyer is going to pay you for them hun.

it really depends on what you no longer want or whats in your new house.

with our buyer as its the builder we bought it off in the first place and sued and won we are taking everything with us, what we are not taking is going on free cycle the day we move.
If i could get the floorboards up in the attic i'd take them too..lol
anything we added to enhance the house is either coming with us or on freecycle.


:w00t:

Hmmmm....food for thought definately.

DKLS
What position is the buyer in? I.e can they proceed immediately, deposit and mortgage offer in place, if they are I would bite their hand off and ensure you get a similar discount on the next house you buy.

Have they had a survey done yet?, that may come back with a valuation lower than there offer, which seems to be happening quite frequently especially on new builds.


The buyer has just sold and we are checking the position on the deposit and mortgage later today with a meeting with the estate agent.
We are a new build, well, 5 years old anyway, so let's hope not !!
#11
guilbert53
The housing market is sometimes a "buyers market" (lots of houses for sale and not much money around) or a sellers market (not many houses for sale and loads of money around).

Currently we are in a buyers market. Mortgages are hard to get and people have not got a lot of money, so a buyer (with money) can afford to bid low as sellers may be more desperate.

With house buying there are lots of things to consider, such as

* Are these first time buyers (with no house to sell). If so that is good. Or are they in a long chain which may cause problems.

* Is your house an "easy" house to sell (good area, well maintained), or is it a hard house to sell. This can affect the offers you get (and accept)

* Are you in a rush to sell, if so you need to accept offers, if not you can afford to hang on for the right price.

Every house sale is different and these buyers may be streching themselves to buy this house. Asking for more may scare them off.

However you could try "meet in the middle" and see what they say.

If they drop out maybe you can go back and accept their offer, after all you may not get another for a while.


Great advice, thanks.

It's a new build, immaculate, just like new, and all the viewers have loved it (well, so they say) but most have had properties to sell etc... it has only been up for 2 weeks also, 4 viewers (2 of whom have come back twice) and now 2 offers.
So the interest is definately there, it's just deciding what price to sell for.
#12
vinylandtrinkets
our house is a new build built 2004 we are the only owners and been suing the builder since 2006, he tried everything he could to get out of the court action until the last surveyor came which he sent in and the repair costs had jumped from £35K to £45K. we paid £75k for the house in 2004

so now we have a tomlin order issued against him and his family business .
our market value on the house dropped from £120K dec 08 to £110 in dec 09
that was if there wasnt any problems with the house,

i think you should try the meet in the middle option hun see what the buyer says. or ask your estate agent how many more viewing they have lined up before you decide.


wow, i hope you get it all sorted to your satisfaction :thumbsup:

Sounds like a nightmare.

whatsThePoint
It all depends how fast you want to sell it and if anyone else has show interest


We have another property to sell which again has lots of interest but no offers as yet.
The small problem we have is that we have found a lovely home which we want, we viewed 5 or 6 but the first one we viewed 'felt right'.

So were not in a major rush as such but in a rush to secure our dream house maybe.
#13
re fixtures and fittings and negotiating over them:
http://www.ourproperty.co.uk/guides/fixtures_and_fittings__what_to_leave_and_what_to_expect.html

It might be worth talking to your prospective buyers directly, if possible, about the price and definitely about f & f's

I have heard various tales about some estate agents not necessarily doing their utmost on behalf of the seller, for various reasons - one being that the agent's BIL was the buyer and another that a property developer was sold to, at a knock down price, even though other people wanted to put it offers.
Obviously I'm not saying that that is the case with you, nor am I saying that agents are generally like that, but it's worth bearing in mind!!
#14
chesso
re fixtures and fittings and negotiating over them:
http://www.ourproperty.co.uk/guides/fixtures_and_fittings__what_to_leave_and_what_to_expect.html

It might be worth talking to your prospective buyers directly, if possible, about the price and definitely about f & f's

I have heard various tales about some estate agents not necessarily doing their utmost on behalf of the seller, for various reasons - one being that the agent's BIL was the buyer and another that a property developer was sold to, at a knock down price, even though other people wanted to put it offers.
Obviously I'm not saying that that is the case with you, nor am I saying that agents are generally like that, but it's worth bearing in mind!!


Thanks chesso, the couple who have put the offer in have been twice to the house and are really nice people. Had a real good chat with them last night at the viewing.

So would like to think we are on good terms.

I will have a look on that website, cheers.

vinylandtrinkets
great site:thumbsup:
ive heard of some estate agents doing this also, and selling to " friends" at knocked down prices.

could you put the house with another agent so it'll be in 2 estate agents? might be worth trying this


If i do this, doesn't the final fee increase?

I don't think we will need to put it up with 2.
#15
Right, off to meet with the estate agent, this should be fun !!! :roll:
banned#16
keep with 1 estate agent else you'll pay more in fees.

I would hold out for asking as house prices are on the rise and buyer seems very keen anyway
#17
We have our house up forsale at offers over £xxxxxx
We've now had an offer at 7K less than the base price !

We've agreed to drop 3 / 3.5K.. now were waiting to see what they want to do !
AHHHHHH... SELL !!!
banned#18
vinylandtrinkets;8479445
ive just picked up our local newspaper and every house in there with all the estate agents in my town have increased by at least £15K compared to 3 weeks ago when we were looking, even some of the same houses have gone up.
let us know how you get on hun.

prices have gone up over 15% in our area in less than a year! :w00t:
#19
Well, met with the estate agent, they are saying that the buyer won't budge.

So i pushed it and said that more or less it's a no go.

But, when we sat down and thought about it, we paid a premium because it was a new build, we got a £4k discount when we bought the house from persimmon homes, so really, with the offer now at £5k less than the asking price, we would break even minus £500 !!

So after talking to the estate agent regarding what to do we think in the back of our minds we will sell at the offer but the agent phoned the buyer while we were there and said that we still needed and extra £1k or 2.

So they were going to think about it overnight and come back to the agent today.

I doubt they will up it, if they do then it will be a bonus, if not then a deal will be done.

How stressful is selling and buying houses !!!!!
#20
TomT
We have our house up forsale at offers over £xxxxxx
We've now had an offer at 7K less than the base price !

We've agreed to drop 3 / 3.5K.. now were waiting to see what they want to do !
AHHHHHH... SELL !!!



We'll finially they've increased their offer.. but only by 1K..
I've asked the estate agent to ask them to go 1K more... I'll see what happens !

Post a Comment

You don't need an account to leave a comment. Just enter your email address. We'll keep it private.

...OR log in with your social account

...OR comment using your social account

Thanks for your comment! Keep it up!
We just need to have a quick look and it will be live soon.
The community is happy to hear your opinion! Keep contributing!