Some house vendors are in la la land.

[original PM]

I agree with the OP - was in a similar situation a few years back.

House had been on the market for approx 1 year - I came in with reasonable offer below asking price

Both estate agent and vendor got uppity - how dare I offer less than the house is worth etc if I cannot afford it I should not try to buy (in fact the estate agent told me to look at some of the less salubrious areas around where I live).

I politely point out to them that if the house was worht what they were asking why has it not sold?

I then bamboozled them with the First Law of Economics (which I got a bit wrong!) but hey they were to thick to understand.

Anyway up shot was I did not buy that house and also did not use that estate agent - also it was in a small town and that estate agent is no longer there

[AtW]

I came in with reasonable offer below asking price

Why do you think it's reasonable to offer less than what was asked?

[original PM]

if it had been reasonably priced it would have been sold

Just because someone thinks their house is worth x (based on how much they maybe paid for it 15 years ago, the family memories it holds etc ect) the cold fact of economics is that something is only worth what someone else is willing to pay now.


I mean yeah by all means put your house on the market for £x for 5 years for all I care - but that is a pretty fu<king pointless thing to do.

[AtW]

if it had been reasonably priced it would have been sold

If you do not like the price then don't buy it.

[original PM]

I can see you point but the thing is with houses you never offer what they are asking (as i am sure you well know)

So you have to start the negotiations somewhere.......

[AtW]

I can see you point

I also had to offer less money for that flat I tried to buy - only did that because everybody does it, innit?

[MarillionFan]

I also had to offer less money for that flat I tried to buy - only did that because everybody does it, innit?

Didn't get you anywhere though did it?

[escapeUK]

Offered £750K cash on an asking price of £800K.
Refused as being too low, FFS.

Fook orf then.

Of course, you spend all day posting crap on a forum but have 3/4 of a million in the bank.

[doodab]

Of course, you spend all day posting crap on a forum but have 3/4 of a million in the bank.

I believe he's selling his mansion in Wandsworth which is worth £1 million more than when he bought it because it now has outbuildings.

[sasguru]

Of course, you spend all day posting crap on a forum but have 3/4 of a million in the bank.

I have rather more than that.
HTH