Offer 4k under asking price - REJECTED!

And so the house hunting saga continues…

The house we are bidding on is just on the market, we offered 9k under the asking price a very reasonable offer, there are no other offers on the house. The EA told us that the offer of 9k under asking was a good and reasonable offer. It was put to the sellers and rejected. EA said they would like a few more k’s to seal the deal, so we offered 5k more to take it off the market that is now an offer of 4k under the asking price and again the offer has been rejected.

There has also been no movement of any kind on the sellers part, a bit miffed they won’t accept the offer but I guess as the house is just on the market they want to wait and get the asking price or wait for a bidding war.

Walk away and make it their problem.
There will be other houses.

What he said.

Then come back in a month and offer 15k under the asking.

Leave it for 6 weeks and then offer 20k under. If they accept tell them to stuff it.
They are a shower of messers-there is definitely a bad vibe about this one-walk away now.

that is very annoying for you, I reckon because it is only on the market they are holding out.

Think you need to contact the agent and explain that you are ready to move fast so your offer is only on the table for x days and after that its withdrawn as you are looking at other properties. There may be plenty of interest in it but firm offers are hard to come by!

It’s an executor sale, apparently 2 of the 3 involved don’t want to sell at what we offered and one of them does!!

Well I am continually surprised at the new and inventive ways you can be messed around by EA’s.

We also bid on another house a couple of weeks back, we were told we were the first ones to view the house, the EA then calls me back 3 hours later to tell me that property was sale agreed already and went for over the asking. The EA was V young we thought perhaps they had sent him out for an afternoon of training to give him something to do.

When you say “Just on the market” do you mean days?

Look at it from the unwilling siblings’ point of view. They’ve just put the house on the market … almost immediately they have an offer just 9K under, then when they rejected it it was upped by 5K. To them it looks like it’s going to sell easily and they don’t want to give it away. Give them a reason to close.

Well said.

Tell EA that was your final offer. It will stay on the table for a fortnight.

If still a no go, try again in a few weeks

Not sure why you are annoyed. It’s a business transaction. Nothing personal. You have offered less than they are asking for. Is house worth another 4k to you. If it is then go up if not then walk away.

Yeah it’s on since Monday, it would seem over zealous of us but we had a near ‘sale agreed’ on another house around the corner from this one a few weeks back and the seller pulled out at the last minute, do from our pov we just know what we want.

Also what has been happening over the last few weeks is that any house we enquire about/view in our price bracket in D8 has offers or has gone sale agreed, a few of those houses have been on the market only a week or so.

In D8 there seems to be a mini surge in houses selling (I can’t comment about other areas or price brackets). Whether this is a temp surge or not remains to be seen.

The house in question is up at a good price but we thought obviously our offer very nice indeed.

We do not want to end up in a bidding war either and yeah also know that if we wait another house will come up.

Perhaps you have kiss a bunch of frogs before you find the right house so to speak and that through sheer patience the right house will come up eventually.

Also I do understand from the seller pov the house is just up and that we have really just inflated their ego’s as such with a quick offer.

But I was always under the understanding that when a sale price was set there was some wiggle room of at least 10%? So in this case they should have simply said in the beginning it’s the asking price and this is non negotiable as this would have made it crystal clear no offers would be entertained.

Executor sales can be tricky though, with some siblings accepting offer and others holding out for more.

At this point even if you offered the extra 4K they may turn it down in the hope of more

Right so I guess knowing your own cut off point and then walking away if you can’t over that is the bottom line. I’m gonna mull this over the weekend, not going another 4k on principle seems rather foolish as well.

There’ll alway be another house either way.

There are no such rules, it depends on how fast houses are selling. During some periods you knew you were going to have to pay 10% above the asking price. Things are looking very good for this seller - two offers in the first 4 days. The siblings who are holding out have a very strong argument against the siblings who want to close, for the moment.

This house in Mulberry in Castleknock is well priced and unbelievably is in Castleknock,I spoke to a rival E/A today about it and he said that he heard that 35 plus potential buyers viewed in at an open day last Saturday,I asked what he thought it would eventually go for,expecting him to pull figures from the mid 400s but was surprised when he said he thought it would fetch up in the mid 300s…20k below asking…Houses are selling if they are priced well,4 beds semis in Mulberry were selling for 650-720k so because this has been pimped up a bit he might not be far off the mark. … 15/1854435

I sold a few weeks ago,put the house on at the cheapest 4 bed in the area,lots of viewings had an offer 10k under asking,waited a few days to see if there were any more bites…there weren’t,asked for a few more grand,got it off the bidder and sale agreed,all in it took 3 weeks.

There are people looking to buy but until the banks start lending again properly this really could be just a blip…but shur Im preaching to the choir here. :slight_smile:

Have you looked at the map? might be on the island of the M50 :open_mouth:

Can you get Kalinda to sniff around and dig up some dirt on the sellers? Make them settle.

I used to live around there, It is within spitting distance of the m50 on the Blanch side. Road noise is a concern.
However of much greater concern is the amount of underage drinking in the field beside that estate. It is not on a bus route, and not within walking distance of coolmine train station. And that road is gridlocked in the morning.

No its definitely Castleknock,An Post also agree on that point as would anyone who knows the area,there is no way I would pay Castleknock money for property that was in Blanchardstown.

I have been looking at Castleknock for a few years,so know the area well enough,appreciate the advice re buses which is correct,we looked at a house there recently that was on with Sherr Fitz,they were not for turning on the price so we passed.

We did however look at traffic in the morning and it must have been a tiger thing but the traffic was very manageable when we did a trial run on two separate mornings.

We also visited the estate at varying points during the day and road noise really wasn’t an issue.

Its academic now anyway as we went sale agreed on another place in Castleknock whose owners that were not stuck in 2006 and who had the same sensible approach to selling that I did.

If it is still on the market in 3 weeks offer the original asking minus €9k again. In 7 weeks go to original asking minus €12k, etc. If the EA comes back to you in the interim give him the -9k price offer for all the messing they did and tell him future offers can go down only.

Since selling a property for the first time my view on the buying process has changed drastically. When we received an offer the estate agent rang us and said, “Here’s the offer, leave it with me for a few days and I’ll see what more I can get out of them”. He rang us a couple of days later and said the bidder had just offered the asking, and we accepted.

Now that was in a better market than we have here currently and I’m not saying all estate agents work like that, but I wouldn’t necessarily assume the estate agent is telling you the truth here. He/she may just be trying to see how far you’ll go.