Interpretation of Seller Behavior

Comparable properties that have been sold in recent years are available. They were in the immediate neighborhood, same year of construction. Better equipment, for example in 2017, went for under 300k.
We just requested the valuation of the property from our bank today; they have all the documents for it.

A few years can make a significant difference in price. Usually, a seller thinks carefully about the maximum price they can achieve BEFORE publishing their listing and considers whether they are willing to wait longer for a buyer or want/need to sell more quickly.
If after that—i.e., AFTER these considerations of mine—someone came to my house and told me that my house is actually worth about 30% less, I would end the conversation immediately. If that person "substantiated" their opinion with a self-paid appraisal or presented me with earlier, cheaper sales in the neighborhood as "proof," the end would come even faster.
I can sell my property however I want or not at all, as only I decide, and I don’t have to explain that to anyone. Yes, maybe he wants an extremely high price, but he can do that. I don’t have to buy it.
Maybe he will get the price, then that was the market value of the property, or he won’t get it, then HE just needs to reconsider. BUT I would not let that be forced on me from outside or get into discussions with a stranger expert. I also know extremely overpriced properties… I simply wouldn’t buy those or would offer a price I can/want to pay once and without further words. To be honest, I don’t fully understand this discussion. Everyone… EVERYONE tries to get a high/maximum price. Depending on whether I am currently a buyer or seller of a product, I would always want it the other way around.

So personally, I would also consider anything that is 10 to 20 percent below my asking price as unbearably disrespectful and disqualify it.

Whether his argument is correct or not, we cannot know.
But I also just listed something on e@bay with 170VB three weeks ago. I actually had two who immediately offered 150€. I replied to them that I am not under any time pressure and if no one pays more in two weeks, they can buy it for 150€. After that, for example, there was also an offer for 100€, to which I responded just like the agent, saying that I find it disrespectful and that I already have offers for 150€, so nothing lower is acceptable. One week later, one of the two 150€ bidders wrote to me that he would now pay 160€ if he gets it immediately. I thought that was fair and the thing was sold.

By the way, I wouldn’t have sold it to the 100€ person for 170€ either because of the disrespectfulness, so from my point of view your chances are no longer good.

Ultimately, you have to know for yourselves what you are willing to pay at most and what alternatives are available on your market.
At a viewing, we offered 10k MORE than the asking price and still didn’t get it because someone simply bid even more. The +10k was definitely our pain threshold, so it was okay that we didn’t get it. You must have such a personal pain threshold for the property regardless of the appraiser, right?

Then you subconsciously didn’t want the property at all. Boris + 15% WTF :p

Well, one should keep in mind that this concerns a built-up plot! The land value here certainly cannot be set in the range where it would be for an undeveloped one. But even in Germany, there are areas where plots still go for the BRW. In the same city, however, there can also be neighborhoods where you pay BRW*2 or so. When it comes to the appraisal, of course you have to look at which deductions were made and why, and what the value is based on. Was a correct market adjustment made? And even then, it simply depends on the local market, which the appraiser should theoretically take into account. However, the comparison prices from 2017 are unfortunately quite meaningless without appropriate recalculation. A house can quickly appreciate in value, but it doesn’t have to. That depends on how exactly the local market behaves. But in the end, it’s quite simple: his price is too high for you, and your price is too low for him (which I understand if he is convinced of his price).

So personally, I would also disqualify anything that is 10 to 20 percent below my asking price as outrageous.

Unfortunately, sellers are often not understanding when it comes to defects in their property or a poor appraisal. We had also viewed a house, even twice, which we actually liked. But in the end, the asking price was way too high and even the negotiable price was still about €80,000 too much. In the end, someone bought it, but they showed the house to lots of people from June to November. By the way, the need for renovation was no wishful thinking; when it became clear that we would not buy, the seller came up with his own estimate, which was higher than mine. He simply had a bad appraiser and the amount was set way too high. This is also confirmed by the fact that in this market, houses normally disappear from the listings within a week...

Unfortunately, sellers are often not open to acknowledging defects in their property or a poor valuation. We had also viewed a house, even twice, that we actually liked. But in the end, the asking price was way too expensive and even the negotiable price was still about €80,000 too high. In the end, someone bought it, but they showed the house to a lot of people from June to November. By the way, the renovation needs were not just wishful thinking; when the story came out and it was clear we wouldn't buy, the seller came with his own estimate, and it was higher than mine. He simply had a bad appraiser, and the sum was set way too high. This is also confirmed by the fact that in this market houses usually disappear from the listings after one week...

Sure, it can also be the case. You can only properly assess that on site. But I would have written that we were interested if there was still a significant reduction possible on the price. That doesn't sound quite as terrible as this €110k lower offer. And then you can wait for a reaction again.

I believe there are already a lot of emotions involved.

If he really has offers beyond 400k, then I'm happy for him

I would rather be annoyed about it and I wonder about your happiness about that. :eek: You probably mean that it simply doesn’t fit your opinion then. I can understand that well, happiness less so.

What I meant to say is that missed bad luck is also a blessing that is celebrated far too rarely. For the moment the OP regrets not having gotten the house. He shouldn’t let that weigh on his soul.

yep, because I also read about significant renovation work as well as unprofessional work etc......so why is it then your "dream house"?

Which is also confirmed by the fact that in this market houses normally disappear from the portals after one week...

If I have time......and for that maybe get 50-100k more, that can be converted into a pretty good hourly rate, where my effort merely consisted of waiting and a few viewings. Everyone sees that differently.

If the listing is still there in 4 weeks and maybe the price has been corrected again, then I will contact him again with the mentioned reasons and set a deadline until when we will keep to our then valid offer.

Honestly, why should a seller let himself be given a "deadline" for a price he finds cheeky. I listed my last apartment at a fairly high price. I thought, if I get that then yes and if not, then no. It was sold within days and maybe even still too cheap...?
Somehow this partly revolves around what would be fair or appropriate but that’s not what it’s about. Whether I find that pleasant for me is something else, but he can even ask for three times as much......the market will regulate it. That’s just how it is.

If that doesn’t work out... there are other nice houses.

If that selection apparently exists, why don’t you just buy one of those other nice houses???