Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Seller unwilling to negotiate

Options
24567

Comments

  • Options
    #32
    Wabbit Ears
    Registered Users Posts: 3,043 ✭✭✭Wabbit Ears


    my parents did the same. They were separating and had a fixed price they were willing to sell for as part of the split.

    Had an offer 20k below asking, said, no, but if you give is asking its yours, no bidding war, no nothing, offer asking and its a done deal. They came back next day with the offer price and the house was sold. Mind you this was a house in Malahide in an estate where houses very very rarely go on the market. if these guys hadn't given asking somebody would have, and quickly.


  • Options
    #33
    Gael23
    Registered Users Posts: 12,091 ✭✭✭✭Gael23


    Wabbit Ears wrote: »
    my parents did the same. They were separating and had a fixed price they were willing to sell for as part of the split.

    Had an offer 20k below asking, said, no, but if you give is asking its yours, no bidding war, no nothing, offer asking and its a done deal. They came back next day with the offer price and the house was sold. Mind you this was a house in Malahide in an estate where houses very very rarely go on the market. if these guys hadn't given asking somebody would have, and quickly.

    Well yeah in Dublin you start at asking and work upwards


  • Options
    #34
    ratracer
    Registered Users Posts: 3,226 ✭✭✭ratracer


    Victor wrote: »
    So what? What makes you think the asking price is correct?

    I presume from OP he has offered, and been politely refused. The owners obviously think their asking price is correct. The OP also asked for advice on what to do......... hence my point, his offer was deemed unacceptable by the sellers.

    I have no idea what the asking price is.


  • Options
    #35
    knucklehead6
    Registered Users Posts: 6,752 ✭✭✭knucklehead6


    Gael23 wrote: »
    .

    It’s entirely up to you OP. If you feel the house is only worth 320K then that’s your sticking point.
    If the vendors feel the house is worth 350K and they’re not in a rush then that’s their sticking point.

    Personally speaking if I was selling and someone offered almost 10% less I’d get all stubborn and say I’ll never sell to them, especially if I’m not in any particular hurry to sell

    Where is the house?


  • Options
    #36
    knucklehead6
    Registered Users Posts: 6,752 ✭✭✭knucklehead6


    ratracer wrote: »
    I presume from OP he has offered, and been politely refused. The owners obviously think their asking price is correct. The OP also asked for advice on what to do......... hence my point, his offer was deemed unacceptable by the sellers.

    I have no idea what the asking price is.

    The op said 350K


  • Advertisement
  • Options
    #37
    mfceiling
    Registered Users Posts: 12,789 ✭✭✭✭mfceiling


    Gael23 wrote: »
    Offer is 320k cash and it’s asking 350k

    Are you buying it on adverts?


  • Options
    #38
    endofrainbow
    Registered Users Posts: 2,618 ✭✭✭endofrainbow


    Their house - their rules.


  • Options
    #39
    delboythedub
    Registered Users Posts: 339 ✭✭delboythedub


    Gael23 wrote: »
    What do you do in a case where the owner of a property is in no hurry to sell and nothing other than the full asking price will be considered?

    Walk


  • Options
    #40
    Dav010
    Registered Users Posts: 14,193 ✭✭✭✭Dav010


    Gael23 wrote: »
    What would be a more reasonable offer?

    If they have stated to you that they will not accept an offer below asking, what you consider reasonable does not seem to matter to them.

    If you don’t think it is worth what they want, move on, you can’t force the sale.


  • Options
    #41
    MojoMaker
    Registered Users Posts: 4,587 ✭✭✭MojoMaker


    Housing stock is low, it's a seller's market in almost all regions, but especially within an ar$e's roar of a city, and is ALWAYS a sellers market in Dublin.

    And why mention the word cash so objectively, when there is no other currency accepted for purchasing a house than cash.

    Is Adverts.ie standard low-balling nonsense infecting real life now??


  • Advertisement
  • Options
    #42
    seenn00J
    Registered Users Posts: 29 ✭seenn00J


    MojoMaker wrote: »
    Housing stock is low, it's a seller's market in almost all regions, but especially within an ar$e's roar of a city, and is ALWAYS a sellers market in Dublin.

    And why mention the word cash so objectively, when there is no other currency accepted for purchasing a house than cash.

    Is Adverts.ie standard low-balling nonsense infecting real life now??


    Wonder would the vendors be interested in trading for anything from OP's ads?


  • Options
    #43
    jimmycrackcorm
    Registered Users Posts: 14,331 ✭✭✭✭jimmycrackcorm


    Gael23 wrote: »
    Offer is 320k cash and it’s asking 350k

    What are similar properties close by priced at? What do you see for properties there on the property price register as it's a quite good indicator of real prices?
    I did think about that. They owners are recently retired and moving to be closer to family

    So:
    * Being retired they probably have the mortgage paid off already
    * Being retired, 30k would make a significant addition to their reduced income.
    * Being retired they have all the time in the world to wait it out without any pressure.

    To answer your question, the only realistic option is to wait it out until they feel they cannot get 350k and decide to sell cheaper, but more likely that someone else will pay that price in the meantime.


  • Options
    #44
    [Deleted User]
    Posts: 14,344 ✭✭✭✭ [Deleted User]


    Although we don't have specific property information, so it's hard to gauge, I just wanted to jump in and say that I think offering 10% less as a first offer is not at all unreasonable. There's every chance that could have got him the house for 320. I always aim to get 10% off car prices (different kettle of fish altogether, I realise, but I still wouldn't be offering asking straight out of the traps if I was interested in a house).


  • Options
    #45
    knucklehead6
    Registered Users Posts: 6,752 ✭✭✭knucklehead6


    Deleted User wrote: »
    Although we don't have specific property information, so it's hard to gauge, I just wanted to jump in and say that I think offering 10% less as a first offer is not at all unreasonable. There's every chance that could have got him the house for 320. I always aim to get 10% off car prices (different kettle of fish altogether, I realise, but I still wouldn't be offering asking straight out of the traps if I was interested in a house).

    People can offer what they want, but i know if I had my house for sale and someone offered 10% less than asking my immediate thoughts would be "yeah, you can go n do one, i'll sell to you over my dead body"


  • Options
    #46
    Grueller Baby
    Registered Users Posts: 87 ✭✭Grueller Baby


    It's a sellers market at the moment. If the seller won't budge, you can be sure someone else is going to offer more.

    To share my experience (from a sellers perspective), I've had an apartment on the marketplace for close to 9 months. 5 months ago I got offered 30k less than asking and I was told that it was the best I was going to get.


    Two weeks ago the apartment sold for 2.5k over asking price.


  • Options
    #47
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    GreeBo wrote: »
    It really depends on how realistic the asking price is though.

    Most sellers would have it priced accordingly. And almost everyone would be willing to accept a little bit under what they're looking for, unless there was a crazy amount of bidding going on.

    I have never heard of anyone accepting almost 10% below asking. Ever.


  • Options
    #48
    [Deleted User]
    Posts: 596 ✭ [Deleted User]


    Gael23 wrote: »
    Offer is 320k cash and it’s asking 350k



    I did think about that. They owners are recently retired and moving to be closer to family

    I’d be telling you to jump too.


  • Options
    #49
    hurleronditch
    Registered Users Posts: 656 ✭✭✭hurleronditch


    You’re miles off, and unless the seller is in a hurry, or they have completely misread the market they have no incentive to sell to you.

    The only thing you could do is say to the estate agent “is there a number below asking that the seller would accept for a quick and clean deal, no chain etc”. If they tell you no, perhaps up your offer to somewhere between where you are and where they are, and say to the estate agent that offer stands for 1 week, but then we’re gone for good. Immediately book several viewings for other properties the EA has listed, so they might buy the story.

    All in all, it will likely come down to you needing to pay what they are asking for. It’s their house.


  • Options
    #50
    Dubhurler4
    Registered Users Posts: 24 ✭Dubhurler4


    Buying and selling really is a waiting game. If you’re buying and not prepared to go to asking, then you have to be prepared to sit it out. At least by having an offer on the table, you’ll be kept informed of any other offers and something else might come along in the meantime,
    Waiting is hard when you’re buying. You have to put the emotion and excitement to one side and try remain calm. We missed out on a house because buyer was holding for asking. We since decided against the house and found out that it was sold for what we had offered. Sellers need a bit of time to move below asking.
    It also depends on auctioneers strategy - some will guide low to attract interest, others seem to guide high with the aim of getting close to asking.


  • Options
    #51
    The chan chan man
    Registered Users Posts: 824 ✭✭✭The chan chan man


    Is this a serious question?


  • Advertisement
  • Options
    #52
    shenanagans
    Registered Users Posts: 896 ✭✭✭shenanagans


    Gael23 wrote: »
    Even a cash offer with no chain doesn’t seem to matter. They are happy to wait for more money

    You don't pay tax on your home when selling. A cash offer is no benefit in regards tax. Only benefit is that the whole process is generally faster to complete.

    If the owner lives in the property ....the cash offer probably isn't an incentive. If they hoping to upgrade then they probably want to get as much as possible for the property.


  • Options
    #53
    Gael23
    Registered Users Posts: 12,091 ✭✭✭✭Gael23


    I’m reluctant to give too many details so as not to identify myself or the property.

    They aren’t upgrading, they are relocating to be nearer family so they will be downgrading if anything. Surprised it’s a sellers market, banks are difficult about giving out mortgages with Covid so would have thought someone not needing one would have the upper hand,


  • Options
    #54
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    Its a sellers market in dublin, eg theres very few houses being built,
    unless you want buy a new house in an estate for 300k plus on the edge of the city
    make a final offer and move on.
    theres 100s of houses for sale in most area,s..
    pick out 2 or 3 house,s you can focus on.
    if someone has a high salary or savings they can still get a mortgage.


  • Options
    #55
    [Deleted User]
    Posts: 18,749 ✭✭✭✭ [Deleted User]


    Gael23 wrote: »
    I’m reluctant to give too many details so as not to identify myself or the property.

    They aren’t upgrading, they are relocating to be nearer family so they will be downgrading if anything. Surprised it’s a sellers market, banks are difficult about giving out mortgages with Covid so would have thought someone not needing one would have the upper hand,

    It's absolutely a sellers market at the moment!
    Don't know where you are OP, but there's very little on the market.


  • Options
    #56
    coolbeans
    Registered Users Posts: 3,040 ✭✭✭coolbeans


    Gael23 wrote: »
    I’m reluctant to give too many details so as not to identify myself or the property.

    They aren’t upgrading, they are relocating to be nearer family so they will be downgrading if anything. Surprised it’s a sellers market, banks are difficult about giving out mortgages with Covid so would have thought someone not needing one would have the upper hand,

    Don't delude yourself and don't insult the seller with a silly offer like you have done. It's a seller's market all over the country and will be for years to come covid or not. Unlike the bust where people would build a house in your eye and expect to retire on the proceeds the housing stock available today is in short supply and demographics and other reasons mean that the rate of building won't catch up for at least a decade if ever. Just look at the CSO population stats if you don't believe me.


  • Options
    #57
    Oscar Madison
    Registered Users Posts: 693 ✭✭✭Oscar Madison


    If you really like it I wouldn't let €20/30K prevent me from paying the full asking price.

    Yes it is a lot of money but if it's a decent property in a decent area I wouldn't be hanging about!


  • Options
    #58
    FromADistance
    Registered Users Posts: 310 ✭✭FromADistance


    Gael23 wrote: »
    I’m reluctant to give too many details so as not to identify myself or the property.

    They aren’t upgrading, they are relocating to be nearer family so they will be downgrading if anything. Surprised it’s a sellers market, banks are difficult about giving out mortgages with Covid so would have thought someone not needing one would have the upper hand,

    The details here are largely irrelevant. If they're not willing to sell at lower than asking, you have 3 options -

    1. Leave the offer on the table.
    2. Up the offer.
    3. Walk away.

    Personally, a house is a house to me. I would never let the heart rule the head when it comes to a house purchase. But you know the old saying... 'fools and their money are easily parted'.


  • Options
    #59
    [Deleted User]
    Posts: 14,344 ✭✭✭✭ [Deleted User]


    knucklehead6 wrote: »
    People can offer what they want, but i know if I had my house for sale and someone offered 10% less than asking my immediate thoughts would be "yeah, you can go n do one, i'll sell to you over my dead body"


    Yeah? So if they started bidding up against everyone else, and ultimately were the highest bidder, you'd say "no, I don't want your money because you tried to get better value for it".


    You would, yeah. :rolleyes:


  • Options
    #60
    shenanagans
    Registered Users Posts: 896 ✭✭✭shenanagans


    Gael23 wrote: »
    I’m reluctant to give too many details so as not to identify myself or the property.

    They aren’t upgrading, they are relocating to be nearer family so they will be downgrading if anything. Surprised it’s a sellers market, banks are difficult about giving out mortgages with Covid so would have thought someone not needing one would have the upper hand,

    They are retired so they don't have to worry about time, if it take longer to sell they probably don't mind. It's not like they want to get settled elsewhere fast because they don't have school aged kids or work etc. to worry about.

    Again, they pay no tax if it's their home house so it's not a benefit to get a cash sale. An investor might jump at it.


  • Advertisement
  • Options
    #61
    Feisar
    Registered Users Posts: 6,614 ✭✭✭Feisar


    mfceiling wrote: »
    Are you buying it on adverts?

    Yea I don't get this cash thing. I don't think the bank are sending the people I bought the house of monthly installments. Does it mean they are ready to go or something?

    First they came for the socialists...



Advertisement